# EDGAR Filing Document

**Accession Number:** 0001559992
**File Stem:** 0001133228-25-007053
**Filing Date:** 2025-7
**Character Count:** 2609589
**Document Hash:** 81ffe561a8e4138fd266fcd339ad1e91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-25-007053.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001133228-25-007053

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 25

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**EFFECTIVENESS DATE**: 20250703

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STONE RIDGE TRUST
- **CENTRAL INDEX KEY:** 0001559992

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22761
- **FILM NUMBER:** 251104290

**BUSINESS ADDRESS:**
- **BUSINESS PHONE:** 855-609-3680

**MAIL ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** 65TH FL.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Stone Ridge Trust
- **DATE OF NAME CHANGE:** 20121010

## Series and Classes Contracts Data

### Stone Ridge High Yield Reinsurance Risk Premium Fund (Series ID: S000039565)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000122023 | Class I      | SHRIX           |
| C000122024 | Class M      | SHRMX           |

### Stone Ridge Diversified Alternatives Fund (Series ID: S000068675)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000219644 | Class J      | SRDBX           |
| C000219645 | Class I      | SRDAX           |

?xml version='1.0' encoding='ASCII'? 2025-05-07198676_StoneRidgeHighYieldReinsuranceRiskPremiumFund_ClassI_TSRSemiAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

**<u>811-22761</u>**

Investment Company Act file number

**<u>Stone Ridge Trust</u>**

(Exact name of registrant as specified in charter)

**<u>One Vanderbilt Avenue, 65<sup>th</sup> Floor</u>**

**<u>New York, New York 10017</u>**

(Address of principal executive offices) (Zip code)

**<u>Stone Ridge Asset Management LLC</u>**

**<u>One Vanderbilt Avenue, 65<sup>th</sup> Floor</u>**

**<u>New York, New York 10017</u>**

(Name and address of agent for service)

**<u>(855) 609-3680</u>**

Registrant's telephone number, including area code

Date of fiscal year end: **<u>October 31, 2025</u>**

Date of reporting period: **<u>April 30, 2025</u>**

**<u>Item 1. Reports to Stockholders.</u>**

(a) ---

| | | |
|:---|:---|:---|
| ![image](image002.jpg) | **Stone Ridge High Yield Reinsurance Risk** **Premium Fund**  | ![image](image001.jpg) |
| ![image](image002.jpg) | Class I \| SHRIX  | ![image](image001.jpg) |
| ![image](image002.jpg) | Semi-Annual Shareholder Report \| April 30, 2025  | ![image](image001.jpg) |

---

This semi-annual shareholder report contains important information about the Stone Ridge High Yield Reinsurance Risk Premium Fund (the "Fund") for the period of November 1, 2024, to April 30, 2025. You can find additional information about the Fund at https://www.stoneridgefunds.com/index.html. You can also request this information by contacting us at 1-855-609-3680.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment<sup>1</sup>**  | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Class I | $84 | 1.65% |

---

\* Annualized

---

| | |
|:---|:---|
| 1 | Expenses are equal to the share class's expense ratio of 1.65%, multiplied by the average account value over the period. |

---

**KEY FUND STATISTICS** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $3533080218 |
| **Number of Holdings** | 328 |
| **Net Advisory Fee** | $25763545 |
| **Portfolio Turnover** | 18.59% |

---

Visit https://www.stoneridgefunds.com/index.html for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Fund Portfolio Allocation By Year of Scheduled Maturity<sup>(1)</sup>**  | **(%) of Net Assets** |
| 2025  | 9.2% |
| 2026  | 24.2% |
| 2027  | 27.4% |
| 2028  | 19.3% |
| 2029  | 4.1% |
| 2030  | 2.2% |
|  Not Applicable<sup>(2)</sup>  | 11.1% |
|  Other<sup>(3)</sup>  | 2.5% |
| (1) Maturity dates listed for reinsurance-linked securities such as event-linked bonds and participation notes.  |  |
| (2) Preference shares do not have maturity dates.  |  |
| (3) Cash, cash equivalents, short-term investments and other liabilities in excess of other assets.  |  |

---

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/index.html.

Stone Ridge High Yield Reinsurance Risk Premium Fund PAGE 1 TSR-SAR-861728400

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management LLC documents not be householded, please contact Stone Ridge Asset Management LLC at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management LLC or your financial intermediary.

Stone Ridge High Yield Reinsurance Risk Premium Fund PAGE 2 TSR-SAR-861728400

------

---

| | | |
|:---|:---|:---|
| ![image](image002.jpg) | **Stone Ridge High Yield Reinsurance Risk** **Premium Fund**  | ![image](image001.jpg) |
| ![image](image002.jpg) | Class M \| SHRMX  | ![image](image001.jpg) |
| ![image](image002.jpg) | Semi-Annual Shareholder Report \| April 30, 2025  | ![image](image001.jpg) |

---

This semi-annual shareholder report contains important information about the Stone Ridge High Yield Reinsurance Risk Premium Fund (the "Fund") for the period of November 1, 2024, to April 30, 2025. You can find additional information about the Fund at https://www.stoneridgefunds.com/index.html. You can also request this information by contacting us at 1-855-609-3680.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment<sup>1</sup>**  | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Class M | $91 | 1.80% |

---

\* Annualized

---

| | |
|:---|:---|
| 1 | Expenses are equal to the share class's expense ratio of 1.80%, multiplied by the average account value over the period. |

---

**KEY FUND STATISTICS** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $3533080218 |
| **Number of Holdings** | 328 |
| **Net Advisory Fee** | $25763545 |
| **Portfolio Turnover** | 18.59% |

---

Visit https://www.stoneridgefunds.com/index.html for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Fund Portfolio Allocation By Year of Scheduled Maturity<sup>(1)</sup>**  | **(%) of Net Assets** |
| 2025  | 9.2% |
| 2026  | 24.2% |
| 2027  | 27.4% |
| 2028  | 19.3% |
| 2029  | 4.1% |
| 2030  | 2.2% |
|  Not Applicable<sup>(2)</sup>  | 11.1% |
|  Other<sup>(3)</sup>  | 2.5% |
| (1) Maturity dates listed for reinsurance-linked securities such as event-linked bonds and participation notes.  |  |
| (2) Preference shares do not have maturity dates.  |  |
| (3) Cash, cash equivalents, short-term investments and other liabilities in excess of other assets.  |  |

---

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/index.html.

Stone Ridge High Yield Reinsurance Risk Premium Fund PAGE 1 TSR-SAR-861728509

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management LLC documents not be householded, please contact Stone Ridge Asset Management LLC at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management LLC or your financial intermediary.

Stone Ridge High Yield Reinsurance Risk Premium Fund PAGE 2 TSR-SAR-861728509

------

---

| | | |
|:---|:---|:---|
| ![image](image003.jpg) | **Stone Ridge Diversified Alternatives Fund**  | ![image](image001.jpg) |
| ![image](image003.jpg) | Class I \| SRDAX  | ![image](image001.jpg) |
| ![image](image003.jpg) | Semi-Annual Shareholder Report \| April 30, 2025  | ![image](image001.jpg) |

---

This semi-annual shareholder report contains important information about the Stone Ridge Diversified Alternatives Fund (the "Fund") for the period of November 1, 2024, to April 30, 2025. You can find additional information about the Fund at https://www.stoneridgefunds.com/multi-strategy.html. You can also request this information by contacting us at 1-855-609-3680.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment<sup>1</sup>**  | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Class I | $96 | 1.97% |

---

\* Annualized

---

| | |
|:---|:---|
| 1 | Expenses are equal to the share class's expense ratio of 1.97%, multiplied by the average account value over the period. |

---

**KEY FUND STATISTICS** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $1664585042 |
| **Number of Holdings** | 10808 |
| **Net Advisory Fee** | $11199463 |
| **Portfolio Turnover** | 19.43% |

---

Visit https://www.stoneridgefunds.com/multi-strategy.html for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Asset Type** | **(%) of Net Assets** |
|  Asset-Backed Securities  | 12.1% |
|  Event Linked Bonds  | 30.5% |
|  Investment Companies  | 2.2% |
|  Participation Notes  | 2.3% |
|  Preference Shares  | 3.6% |
|  Purchased Options  | 0.4% |
|  Short-Term Investments  | 39.1% |
|  Whole Loans- Consumer Loans  | 3.4% |
|  Whole Loans- Small Business Loans  | 1.2% |
|  Whole Loans- Student Loans<sup>(1)</sup>  | 0.0% |
|  Other<sup>(2)</sup>  | 5.2% |
| (1) Rounds to zero.  |  |
| (2) Cash, cash equivalents and other assets in excess of liabilities.  |  |

---

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/multi-strategy.html.

Stone Ridge Diversified Alternatives Fund PAGE 1 TSR-SAR-861728624

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management LLC documents not be householded, please contact Stone Ridge Asset Management LLC at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management LLC or your financial intermediary.

Stone Ridge Diversified Alternatives Fund PAGE 2 TSR-SAR-861728624

------

---

| | | |
|:---|:---|:---|
| ![image](image003.jpg) | **Stone Ridge Diversified Alternatives Fund**  | ![image](image001.jpg) |
| ![image](image003.jpg) | Class J \| SRDBX  | ![image](image001.jpg) |
| ![image](image003.jpg) | Semi-Annual Shareholder Report \| April 30, 2025  | ![image](image001.jpg) |

---

This semi-annual shareholder report contains important information about the Stone Ridge Diversified Alternatives Fund (the "Fund") for the period of November 1, 2024, to April 30, 2025. You can find additional information about the Fund at https://www.stoneridgefunds.com/multi-strategy.html. You can also request this information by contacting us at 1-855-609-3680.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment<sup>1</sup>**  | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Class J | $110 | 2.26% |

---

\* Annualized

---

| | |
|:---|:---|
| 1 | Expenses are equal to the share class's expense ratio of 2.26%, multiplied by the average account value over the period. |

---

**KEY FUND STATISTICS** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $1664585042 |
| **Number of Holdings** | 10808 |
| **Net Advisory Fee** | $11199463 |
| **Portfolio Turnover** | 19.43% |

---

Visit https://www.stoneridgefunds.com/multi-strategy.html for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (as of April 30, 2025)

---

| | |
|:---|:---|
| **Asset Type** | **(%) of Net Assets** |
|  Asset-Backed Securities  | 12.1% |
|  Event Linked Bonds  | 30.5% |
|  Investment Companies  | 2.2% |
|  Participation Notes  | 2.3% |
|  Preference Shares  | 3.6% |
|  Purchased Options  | 0.4% |
|  Short-Term Investments  | 39.1% |
|  Whole Loans- Consumer Loans  | 3.4% |
|  Whole Loans- Small Business Loans  | 1.2% |
|  Whole Loans- Student Loans<sup>(1)</sup>  | 0.0% |
|  Other<sup>(2)</sup>  | 5.2% |
| (1) Rounds to zero.  |  |
| (2) Cash, cash equivalents and other assets in excess of liabilities.  |  |

---

For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/multi-strategy.html.

Stone Ridge Diversified Alternatives Fund PAGE 1 TSR-SAR-861728616

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management LLC documents not be householded, please contact Stone Ridge Asset Management LLC at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management LLC or your financial intermediary.

Stone Ridge Diversified Alternatives Fund PAGE 2 TSR-SAR-861728616

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**<u>Item 2. Code of Ethics.</u>**

Not applicable for semi-annual reports.

**<u>Item 3. Audit Committee Financial Expert.</u>**

Not applicable for semi-annual reports.

**<u>Item 4. Principal Accountant Fees and Services.</u>**

Not applicable for semi-annual reports.

**<u>Item 5. Audit Committee of Listed Registrants.</u>**

Not applicable to registrants who are not listed issuers (as defined in Rule 10A-3 under the Securities Exchange Act of 1934).

**<u>Item 6. Investments.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule of Investments is included as part of the financial statements filed
 under Item 7 of this Form N-CSR.

(b) Not applicable.

**<u>Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.</u>**

(a) Semi-Annual Report

April 30, 2025

Unaudited

![](stoneridge_logo.jpg)

Stone Ridge High Yield Reinsurance Risk Premium Fund

Stone Ridge Diversified Alternatives Fund

------

**Table of Contents**

---

| | |
|:---|:---|
| [Schedules of Investments (Unaudited)](#soi1123)<br>|  |
| &nbsp;&nbsp;&nbsp; [Stone Ridge High Yield Reinsurance Risk Premium Fund](#soi1) | [1](#soi1) |
| &nbsp;&nbsp;&nbsp; [Stone Ridge Diversified Alternatives Fund](#soi2) | [16](#soi2) |
| [Financial Statements and Notes (Unaudited)](#sal) | [235](#sal) |
| [Additional Information (Unaudited)](#add) | [268](#add) |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
|  **EVENT LINKED BONDS - 84.7% (a)**<br>|  |  |
|  **Canada - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MMIFS Re 2025-1 Class A, 5.59% (CORRA + 2.82%), 01/10/2028 <br>(Acquired 1/8/2025, Cost $8,426,908) (b)(c)(d) | CAD 12,120,000 | **$8774666**  |
|  **Chile - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 131, 9.19% (SOFR + 4.79%), 03/31/2026 <br>(Acquired 3/17/2023 - 2/29/2024, Cost $24,885,883) (b)(c)(d) | $24812000 | 25102524  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maschpark Re 2024-1 Class A, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 01/10/2028 <br>(Acquired 11/26/2024, Cost $2,412,000) (b)(c)(d) | 2412000 | 2441172  |
|  |  | **27543696**  |
|  **Europe - 1.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Azzurro Re II DAC 2024-1 Class A, 8.63% (3 Month EURIBOR + 6.39%), 04/20/2028 <br>(Acquired 3/21/2024, Cost $8,067,440) (b)(c)(d) | EUR 7,431,000 | **8473990**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; King Max Re DAC, 7.28% (3 Month EURIBOR + 5.00%), 01/06/2027 <br>(Acquired 12/8/2023, Cost $7,971,841) (b)(c)(d) | 7406000 | 8454282  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lion III Re DAC 2021-1, 6.41% (3 Month EURIBOR + 4.13%), 07/16/2025 <br>(Acquired 6/30/2023 - 7/27/2023, Cost $5,989,451) (b)(c)(d) | 5493000 | 6224082  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taranis Re DAC 2023-1 Class A, 10.44% (3 Month EURIBOR + 8.25%), 01/21/2028 <br>(Acquired 11/29/2023, Cost $2,616,072) (b)(c)(d) | 2384000 | 2796636  |
|  |  | **17475000**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.9%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Sky Re DAC 2023-1, 8.32% (3 Month EURIBOR + 6.16%), 01/26/2027 <br>(Acquired 12/11/2023, Cost $3,664,234) (b)(c)(d) | 3404000 | 4002261  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eiffel Re 2023-1 Class A, 5.82% (3 Month EURIBOR + 3.58%), 01/19/2027 <br>(Acquired 6/22/2023, Cost $9,324,801) (b)(c)(d) | 8510000 | 9702309  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexagon III Re Pte. Class B, 14.08% (3 Month EURIBOR + 11.92%), 01/15/2026 <br>(Acquired 11/23/2021, Cost $2,250,098) (b)(c)(d)(e) | 2000000 | 1642632  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexagon IV Re 2023-1 Class A, 10.39% (3 Month EURIBOR + 8.16%), 01/21/2028 <br>(Acquired 11/7/2023, Cost $7,148,893) (b)(c)(d) | 6684000 | 7691120  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexagon IV Re 2023-1 Class B, 19.29% (3 Month EURIBOR + 17.06%), 01/21/2026 <br>(Acquired 11/7/2023, Cost $1,871,718) (b)(c)(d) | 1750000 | 2045118  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange Capital Re 2023-1 Class A, 9.79% (3 Month EURIBOR + 7.81%), 01/08/2027 <br>(Acquired 11/17/2023, Cost $2,134,785) (b)(c)(d)(f) | 1957000 | 2249700  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quercus Re DAC, 10.18% (3 Month EURIBOR + 8.00%), 07/08/2027 <br>(Acquired 7/15/2024, Cost $2,926,239) (b)(c)(d) | 2685000 | 3100752  |
|  |  | **30433892**  |
|  |  | **56382882**  |
|  **France - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Terrorism - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athena I Re DAC, 7.43% (3 Month EURIBOR + 5.25%), 01/21/2028 <br>(Acquired 11/21/2024, Cost $2,297,116) (b)(c)(d) | 2192000 | **2498807**  |
|  **Global - 6.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Cyber - 1.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; East Lane Re VII 2024-1 Class A, 13.53% (3 Month US Treasury Bill Rate + 9.25%), 03/31/2026 <br>(Acquired 12/20/2023, Cost $6,031,000) (b)(c)(d) | $6031000 | 6091262  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long Walk Re 2024-1 Class A, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 01/30/2026 <br>(Acquired 11/13/2023, Cost $3,158,000) (b)(c)(d) | 3158000 | 3197104  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2023-1 Class CYB-A, 16.28% (3 Month US Treasury Bill Rate + 12.00%), 01/08/2026 <br>(Acquired 12/22/2023, Cost $13,956,000) (b)(c)(d) | 13956000 | 14197243  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>1</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Cyber - 1.5% (continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Cyber - 1.5% (continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PoleStar Re 2024-1 Class A, 17.28% (3 Month US Treasury Bill Rate + 13.00%), 01/07/2026 <br>(Acquired 12/13/2023, Cost $9,224,000) (b)(c)(d) | $9224000 | $9401982  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PoleStar Re 2024-3 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 01/07/2028 <br>(Acquired 9/19/2024, Cost $18,736,000) (b)(c)(d) | 18736000 | 19291288  |
|  |  | **52178879**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2025-1 Class B, 7.29% (3 Month US Treasury Bill Rate + 3.00%), 02/07/2028 <br>(Acquired 1/24/2025, Cost $6,730,000) (b)(c)(d) | 6730000 | 6736138  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashera Re 2024-1 Class A, 9.48% (3 Month US Treasury Bill Rate + 5.19%), 04/07/2027 <br>(Acquired 3/21/2024, Cost $5,986,000) (b)(c)(d) | 5986000 | 6042313  |
|  |  | **12778451**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 4.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2025-1 Class A, 25.54% (3 Month US Treasury Bill Rate + 21.25%), 02/07/2028 <br>(Acquired 1/24/2025, Cost $6,730,000) (b)(c)(d) | 6730000 | 6700809  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aragonite Re 2024-1 Class A, 9.54% (3 Month US Treasury Bill Rate + 5.25%), 04/07/2027 <br>(Acquired 3/25/2024, Cost $7,442,000) (b)(c)(d) | 7442000 | 7691954  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Capital 2022 DAC 2022-1 Class A, 14.22% (SOFR + 9.83%), 06/06/2025 <br>(Acquired 5/24/2022, Cost $15,379,000) (b)(c)(d) | 15379000 | 15409758  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Capital DAC 2023-1 Class A, 12.04% (SOFR + 7.65%), 06/05/2026 <br>(Acquired 7/6/2023, Cost $1,005,249) (b)(c)(d) | 1000000 | 1026738  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Capital DAC 2024-1 Class A, 16.88% (SOFR + 12.50%), 06/08/2027 <br>(Acquired 1/16/2025, Cost $1,936,310) (b)(c)(d) | 1733000 | 1917253  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Claveau Re 2021-1 Class A, 21.54% (3 Month US Treasury Bill Rate + 17.25%), 07/08/2025 <br>(Acquired 7/1/2021 - 4/9/2025, Cost $2,697,431) (b)(c)(d)(e) | 2697431 | 1416151  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2021-1 Class A, 22.58% (3 Month US Treasury Bill Rate + 18.30%), 06/06/2025 <br>(Acquired 5/19/2021, Cost $1,084,891) (b)(c)(d)(e) | 1084891 | 162734  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kendall Re 2024-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 04/30/2027 <br>(Acquired 4/22/2024 - 3/17/2025, Cost $15,729,487) (b)(c)(d) | 15529000 | 16193789  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class A-2, 16.64% (3 Month US Treasury Bill Rate + 12.36%), 04/20/2026 <br>(Acquired 4/8/2021, Cost $5,968,000) (b)(c)(d) | 5968000 | 5975236  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class B-2, 9.14% (3 Month US Treasury Bill Rate + 4.86%), 04/20/2026 <br>(Acquired 4/8/2021, Cost $2,652,000) (b)(c)(d) | 2652000 | 2655933  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class C-2, 8.84% (3 Month US Treasury Bill Rate + 4.56%), 04/20/2026 <br>(Acquired 4/8/2021, Cost $2,431,000) (b)(c)(d) | 2431000 | 2435043  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2022-1 Class A, 10.13% (3 Month US Treasury Bill Rate + 5.85%), 06/25/2025 <br>(Acquired 6/15/2022, Cost $7,515,000) (b)(c)(d) | 7515000 | 7520490  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re 2025-1 Class A, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 02/04/2028 <br>(Acquired 1/24/2025, Cost $3,875,000) (b)(c)(d) | 3875000 | 3857326  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re 2025-1 Class B, 16.54% (3 Month US Treasury Bill Rate + 12.25%), 02/04/2028 <br>(Acquired 1/24/2025, Cost $5,914,000) (b)(c)(d) | 5914000 | 5890078  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re Argon 2022-1 Class A, 11.68% (SOFR + 7.25%), 01/25/2027 <br>(Acquired 3/31/2022, Cost $1,000,000) (b)(c)(d)(g) | 1000000 | 1003055  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2020-2 Class A, 1.50% (3 Month US Treasury Bill Rate + 1.50%), 01/08/2027 <br>(Acquired 1/29/2020 - 9/21/2022, Cost $4,183,481) (b)(c)(d)(e)(g) | 4183481 | 3346784  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2021-1 Class A, 10.14% (SOFR + 5.75%), 12/08/2025 <br>(Acquired 12/15/2021 - 8/7/2024, Cost $12,717,593) (b)(c)(d) | 12920000 | 12664029  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montoya Re 2022-2 Class A, 18.07% (3 Month US Treasury Bill Rate + 13.78%), 04/07/2026 <br>(Acquired 12/8/2022 - 12/5/2024, Cost $5,696,121) (b)(c)(d) | 5453000 | 5712386  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montoya Re 2025-1 Class A, 10.04% (3 Month US Treasury Bill Rate + 5.75%), 04/07/2028 <br>(Acquired 1/23/2025, Cost $1,735,000) (b)(c)(d) | 1735000 | 1717274  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northshore Re II 2022-1 Class A, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 07/08/2025 <br>(Acquired 6/22/2022 - 5/2/2024, Cost $12,120,463) (b)(c)(d) | 12085000 | 12091043  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northshore Re II 2025-1 Class A, 9.28% (3 Month US Treasury Bill Rate + 5.00%), 04/07/2028 <br>(Acquired 3/14/2025, Cost $12,460,000) (b)(c)(d) | 12460000 | 12410764  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ocelot Re 2025-1 Class A, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 02/26/2029 <br>(Acquired 2/14/2025, Cost $19,116,000) (b)(c)(d) | 19116000 | 19010795  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **2** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 4.4% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ocelot Re 2025-1 Class B, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 02/26/2029 <br>(Acquired 2/14/2025, Cost $2,812,000) (b)(c)(d) | $2812000 | $2791527  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wrigley Re 2023-1 Class A, 10.78% (3 Month US Treasury Bill Rate + 6.50%), 08/07/2026 <br>(Acquired 7/14/2023 - 3/20/2024, Cost $5,615,438) (b)(c)(d) | 5603000 | 5729426  |
|  |  | **155330375** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Queen Street 2023 Re DAC, 11.78% (3 Month US Treasury Bill Rate + 7.50%), 12/08/2025 <br>(Acquired 5/12/2023 - 4/8/2024, Cost $12,762,524) (b)(c)(d) | 12723000 | 12731550  |
|  |  | **233019255**  |
|  **Great Britain - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Flood - 0.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vision 2039 2025-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 04/06/2028 <br>(Acquired 3/10/2025, Cost $17,881,153) (b)(c)(d) | GBP 13,884,000 | **18464170**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Terrorism - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltic PCC 2025-1 Class A, 10.18% (3 Month US Treasury Bill Rate + 5.90%), 04/06/2028 <br>(Acquired 3/24/2025, Cost $9,683,046) (b)(c)(d) | 7494000 | 9987206  |
|  |  | **28451376**  |
|  **Jamaica - 0.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 136, 11.61% (SOFR + 7.19%), 12/29/2027 <br>(Acquired 4/25/2024, Cost $23,789,000) (b)(c)(d) | $23789000 | **23841062**  |
|  **Japan - 2.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 1.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kizuna Re III 2024-1 Class A, 7.04% (3 Month US Treasury Bill Rate + 2.75%), 04/09/2029 <br>(Acquired 3/13/2024, Cost $3,081,000) (b)(c)(d) | 3081000 | 3143849  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re 2023-1 Class 2, 8.11% (3 Month Term SOFR + 4.00%), 05/09/2028 <br>(Acquired 4/14/2023, Cost $6,781,000) (b)(c)(d)(g) | 6781000 | 6940279  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re 2025-1 Class 1, 6.38% (3 Month US Treasury Bill Rate + 2.10%), 04/23/2030 <br>(Acquired 4/11/2025, Cost $3,650,000) (b)(c)(d) | 3650000 | 3648124  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re Pte. 2021-1 Class 1, 6.33% (3 Month US Treasury Bill Rate + 2.05%), 10/13/2026 <br>(Acquired 9/22/2021 - 2/8/2024, Cost $22,814,106) (b)(c)(d)(g) | 22838000 | 22765056  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re Pte. 2021-1 Class 2, 7.03% (3 Month US Treasury Bill Rate + 2.75%), 10/13/2026 <br>(Acquired 9/22/2021 - 1/26/2024, Cost $9,744,223) (b)(c)(d)(g) | 9754000 | 9756887  |
|  |  | **46254195**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.9%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Kite Re 2025-1 Class A, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 05/08/2028 <br>(Acquired 4/24/2025, Cost $3,234,000) (b)(c)(d) | 3234000 | 3233803  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sakura Re 2025-1 Class A, 7.03% (3 Month US Treasury Bill Rate + 2.75%), 04/05/2029 <br>(Acquired 3/21/2025, Cost $1,500,000) (b)(c)(d) | 1500000 | 1496606  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2022-1 Class A-1, 6.37% (3 Month US Treasury Bill Rate + 2.09%), 04/07/2026 <br>(Acquired 7/24/2024 - 7/25/2024, Cost $4,679,602) (b)(c)(d) | 4678000 | 4671825  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2022-1 Class B-1, 7.03% (3 Month US Treasury Bill Rate + 2.75%), 04/07/2026 <br>(Acquired 3/28/2022 - 6/5/2023, Cost $2,993,114) (b)(c)(d) | 3000000 | 2998633  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2024-1 Class A, 7.54% (3 Month US Treasury Bill Rate + 3.25%), 04/05/2028 <br>(Acquired 3/25/2024, Cost $8,062,000) (b)(c)(d) | 8062000 | 8095659  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2024-1 Class B, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 04/05/2028 <br>(Acquired 3/25/2024, Cost $9,729,000) (b)(c)(d) | 9729000 | 9893853  |
|  |  | **30390379**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Typhoon - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Kite Re 2022-1 Class A, 11.10% (3 Month US Treasury Bill Rate + 6.82%), 06/09/2025 <br>(Acquired 5/27/2022, Cost $4,863,000) (b)(c)(d) | 4863000 | 4878102  |
|  |  | **81522676**  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>3</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
|  **Mexico - 1.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 132 Class A, 8.62% (SOFR + 4.22%), 04/24/2028 <br>(Acquired 4/3/2024, Cost $20,958,000) (b)(c)(d) | $20958000 | $21310493  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 133 Class B, 15.62% (SOFR + 11.22%), 04/24/2028 <br>(Acquired 4/3/2024, Cost $7,616,000) (b)(c)(d) | 7616000 | 7634918  |
|  |  | **28945411**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 134 Class C, 18.10% (SOFR + 13.72%), 04/24/2028 <br>(Acquired 4/3/2024, Cost $15,817,000) (b)(c)(d) | 15817000 | 16110856  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 135 Class D, 16.60% (SOFR + 12.22%), 04/24/2028 <br>(Acquired 5/1/2024, Cost $7,236,000) (b)(c)(d) | 7236000 | 7637073  |
|  |  | **23747929**  |
|  |  | **52693340**  |
|  **New Zealand - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Totara Re Pte. 2023-1, 13.39%, 06/08/2027 <br>(Acquired 5/24/2023, Cost $10,087,661) (b)(c)(d) | NZD 16,525,000 | **10057993**  |
|  **United States - 69.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 12.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2023-1 Class A, 8.63% (3 Month US Treasury Bill Rate + 4.35%), 11/06/2026 <br>(Acquired 6/22/2023 - 9/12/2023, Cost $10,623,232) (b)(c)(d) | $10616000 | 10849563  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2024-1 Class A, 7.38% (3 Month US Treasury Bill Rate + 3.10%), 11/05/2027 <br>(Acquired 10/25/2024, Cost $12,029,000) (b)(c)(d) | 12029000 | 12104163  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2024-1 Class B, 7.38% (3 Month US Treasury Bill Rate + 3.10%), 11/07/2025 <br>(Acquired 10/25/2024 - 3/12/2025, Cost $22,518,600) (b)(c)(d) | 22505000 | 22535303  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2022-1 Class A, 17.79% (3 Month US Treasury Bill Rate + 13.50%), 01/08/2027 <br>(Acquired 11/18/2022, Cost $2,306,000) (b)(c)(d) | 2306000 | 2479027  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logistics Re 2024-1 Class A, 10.28% (3 Month US Treasury Bill Rate + 6.00%), 12/21/2027 <br>(Acquired 10/22/2024, Cost $1,750,000) (b)(c)(d) | 1750000 | 1770248  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sutter Re 2023-1 Class B, 11.03% (3 Month US Treasury Bill Rate + 6.75%), 06/19/2026 <br>(Acquired 6/6/2023 - 3/7/2025, Cost $19,455,077) (b)(c)(d) | 19391000 | 19890299  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sutter Re 2023-1 Class E, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 06/19/2026 <br>(Acquired 6/6/2023 - 9/26/2023, Cost $17,335,066) (b)(c)(d) | 17321000 | 18104871  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2022-1 Class A, 9.88% (3 Month US Treasury Bill Rate + 5.60%), 06/06/2025 <br>(Acquired 5/10/2022 - 2/3/2025, Cost $21,576,745) (b)(c)(d)(g)Ursa | 21571000 | 21622889  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2022-1 Class B, 12.89% (3 Month US Treasury Bill Rate + 8.61%), 06/06/2025 <br>(Acquired 5/10/2022, Cost $10,928,000) (b)(c)(d) | 10928000 | 10944846  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2023-1 Class A, 9.49% (3 Month US Treasury Bill Rate + 5.22%), 06/05/2026 <br>(Acquired 5/18/2023, Cost $8,393,000) (b)(c)(d) | 8393000 | 8548241  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class A, 10.28% (3 Month US Treasury Bill Rate + 6.00%), 06/07/2027 <br>(Acquired 5/17/2024, Cost $22,534,000) (b)(c)(d) | 22534000 | 23432126  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class B, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 06/07/2027 <br>(Acquired 5/17/2024, Cost $15,291,000) (b)(c)(d)(g) | 15291000 | 15934277  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class C, 13.28% (3 Month US Treasury Bill Rate + 9.00%), 06/05/2026 <br>(Acquired 5/17/2024, Cost $7,541,000) (b)(c)(d) | 7541000 | 7730253  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class A, 8.03% (3 Month US Treasury Bill Rate + 3.75%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $12,288,000) (b)(c)(d) | 12288000 | 12287963  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class B, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $13,675,000) (b)(c)(d) | 13675000 | 13674945  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class C, 10.78% (3 Month US Treasury Bill Rate + 6.50%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $12,288,000) (b)(c)(d) | 12288000 | 12287926  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-1 Class AA, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 12/06/2025 <br>(Acquired 4/12/2023, Cost $4,722,000) (b)(c)(d) | 4722000 | 4792049  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-1 Class C, 12.53% (3 Month US Treasury Bill Rate + 8.25%), 12/06/2025 <br>(Acquired 4/12/2023 - 2/5/2024, Cost $4,555,596) (b)(c)(d) | 4543000 | 4639212  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **4** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 12.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-2 Class E, 13.53% (3 Month US Treasury Bill Rate + 9.25%), 12/07/2026 <br>(Acquired 10/10/2023, Cost $21,145,000) (b)(c)(d) | $21145000 | $22213467  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-3 Class AA, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 12/07/2026 <br>(Acquired 12/1/2023 - 1/19/2024, Cost $21,557,013) (b)(c)(d) | 21549000 | 22350030  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-3 Class D, 13.03% (3 Month US Treasury Bill Rate + 8.75%), 12/07/2026 <br>(Acquired 12/1/2023 - 5/17/2024, Cost $25,989,239) (b)(c)(d) | 25921000 | 27189677  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2025-1 Class F, 11.79% (3 Month US Treasury Bill Rate + 7.50%), 02/22/2028 <br>(Acquired 2/10/2025, Cost $32,693,000) (b)(c)(d) | 32693000 | 32931675  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-1 Class A, 9.28% (3 Month US Treasury Bill Rate + 5.00%), 06/16/2025 <br>(Acquired 5/27/2022 - 10/19/2023, Cost $14,164,228) (b)(c)(d) | 14166000 | 14168090  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-1 Class E, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/16/2025 <br>(Acquired 5/27/2022, Cost $3,094,000) (b)(c)(d)(g) | 3094000 | 3101022  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-2 Class AA, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 12/06/2025 <br>(Acquired 12/8/2022, Cost $2,419,000) (b)(c)(d) | 2419000 | 2473443  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-2 Class C, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 12/06/2025 <br>(Acquired 12/8/2022 - 9/5/2023, Cost $4,401,643) (b)(c)(d) | 4363000 | 4505635  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2023-1 Class A, 11.07% (3 Month US Treasury Bill Rate + 6.79%), 03/09/2026 <br>(Acquired 12/14/2022, Cost $4,854,000) (b)(c)(d) | 4854000 | 5004748  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2023-1 Class B, 16.92% (3 Month US Treasury Bill Rate + 12.63%), 03/09/2026 <br>(Acquired 12/14/2022 - 10/26/2023, Cost $7,958,888) (b)(c)(d) | 7885000 | 8314413  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2024-1 Class A, 9.02% (3 Month US Treasury Bill Rate + 4.74%), 03/08/2027 <br>(Acquired 1/30/2024 - 2/3/2025, Cost $14,327,443) (b)(c)(d) | 14142000 | 14467952  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2025-1 Class A, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 03/08/2028 <br>(Acquired 1/30/2025 - 3/6/2025, Cost $26,769,000) (b)(c)(d) | 26769000 | 26644364  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2025-1 Class B, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 03/08/2028 <br>(Acquired 1/30/2025, Cost $11,170,000) (b)(c)(d) | 11170000 | 11139199  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wrigley Re 2023-1 Class B, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 08/07/2026 <br>(Acquired 7/14/2023 - 9/5/2023, Cost $12,304,878) (b)(c)(d) | 12297000 | 12790343  |
|  |  | **430922259** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Fire - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greengrove Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 04/07/2028 <br>(Acquired 3/19/2025, Cost $5,887,000) (b)(c)(d) | 5887000 | **5881137**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Flood - 2.0%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2022-1 Class B, 18.62% (3 Month US Treasury Bill Rate + 14.33%), 02/26/2029 <br>(Acquired 10/24/2023, Cost $1,660,856) (b)(c)(d)(e) | 1660912 | 1144036  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2023-1 Class A, 21.43% (3 Month US Treasury Bill Rate + 17.15%), 03/11/2026 <br>(Acquired 2/24/2023, Cost $13,761,000) (b)(c)(d)(g) | 13761000 | 13657793  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2023-1 Class B, 26.68% (3 Month US Treasury Bill Rate + 22.40%), 03/11/2026 <br>(Acquired 2/24/2023, Cost $3,536,000) (b)(c)(d) | 3536000 | 2643150  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2024-1 Class A, 18.29% (3 Month US Treasury Bill Rate + 14.00%), 03/12/2027 <br>(Acquired 2/29/2024 - 7/16/2024, Cost $42,364,029) (b)(c)(d) | 42370000 | 43412789  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2024-1 Class B, 21.54% (3 Month US Treasury Bill Rate + 17.25%), 03/12/2027 <br>(Acquired 2/29/2024 - 7/17/2024, Cost $10,707,953) (b)(c)(d)(g) | 10727000 | 10497887  |
|  |  | **71355655**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Mortality/Longevity/Disease - 1.0%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vita Capital VI 2021-1 Class B, 7.54% (SOFR + 3.12%), 01/08/2026 <br>(Acquired 7/2/2021 - 2/22/2023, Cost $9,033,955) (b)(c)(d)(e) | 9107000 | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIII 2022 Class A, 6.29% (3 Month US Treasury Bill Rate + 2.00%), 01/06/2026 <br>(Acquired 1/4/2023, Cost $3,829,643) (b)(c)(d) | 3880000 | 3877546  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIII 2022 Class B, 7.04% (3 Month US Treasury Bill Rate + 2.75%), 01/06/2026 <br>(Acquired 9/27/2023 - 3/14/2024, Cost $5,601,977) (b)(c)(d) | 5635000 | 5636572  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIV 2023 Class A, 7.78% (3 Month US Treasury Bill Rate + 3.50%), 01/05/2027 <br>(Acquired 3/7/2024 - 3/14/2024, Cost $7,500,312) (b)(c)(d)(g) | 7417000 | 7607402  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIV 2023 Class B, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 01/05/2027 <br>(Acquired 1/25/2023, Cost $2,416,000) (b)(c)(d) | 2416000 | 2458611  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>5</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Mortality/Longevity/Disease - 1.0% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XV 2024 Class A, 6.79% (3 Month US Treasury Bill Rate + 2.50%), 01/07/2028 <br>(Acquired 1/22/2024, Cost $3,822,000) (b)(c)(d)(g) | $3822000 | $3859542  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XV 2024 Class B, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 01/07/2028 <br>(Acquired 1/22/2024, Cost $2,615,000) (b)(c)(d)(g) | 2615000 | 2656484  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XVI 2025 Class A, 6.04% (3 Month US Treasury Bill Rate + 1.75%), 01/08/2029 <br>(Acquired 1/23/2025, Cost $4,893,000) (b)(c)(d)(g) | 4893000 | 4893364  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XVI 2025 Class B, 6.54% (3 Month US Treasury Bill Rate + 2.25%), 01/08/2029 <br>(Acquired 1/23/2025, Cost $1,750,000) (b)(c)(d) | 1750000 | 1750385  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XVI 2025 Class C, 8.04% (3 Month US Treasury Bill Rate + 3.75%), 01/08/2029 <br>(Acquired 1/23/2025, Cost $2,385,000) (b)(c)(d) | 2385000 | 2385608  |
|  |  | **35125515**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 23.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2023-1 Class A-1, 9.93% (3 Month US Treasury Bill Rate + 5.65%), 06/08/2026 <br>(Acquired 5/10/2023 - 9/11/2023, Cost $3,492,326) (b)(c)(d) | 3485000 | 3544196  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2023-1 Class B-1, 12.55% (3 Month US Treasury Bill Rate + 8.27%), 06/08/2026 <br>(Acquired 5/10/2023, Cost $8,077,000) (b)(c)(d) | 8077000 | 8319007  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2023-1 Class C-1, 13.46% (3 Month US Treasury Bill Rate + 9.18%), 06/08/2026 <br>(Acquired 5/10/2023 - 2/24/2025, Cost $15,178,461) (b)(c)(d) | 14903000 | 15475841  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2024-1 Class A-1, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 06/07/2027 <br>(Acquired 4/26/2024, Cost $5,778,000) (b)(c)(d) | 5778000 | 5885630  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2024-1 Class B-1, 13.28% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 4/26/2024 - 2/24/2025, Cost $7,110,896) (b)(c)(d) | 6972000 | 7212492  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Re 2021-1 Class A, 6.33% (3 Month US Treasury Bill Rate + 2.04%), 07/07/2025 <br>(Acquired 9/5/2023 - 2/6/2024, Cost $13,755,902) (b)(c)(d) | 13779000 | 13758752  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Re 2023-1 Class A, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 07/07/2027 <br>(Acquired 6/21/2023, Cost $3,631,000) (b)(c)(d) | 3631000 | 3690663  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class A, 4.29% (3 Month US Treasury Bill Rate + 0.00%), 01/08/2026 <br>(Acquired 12/16/2024, Cost $3,035,475) (b)(c)(d) | 3516000 | 2853371  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class B, 8.04% (3 Month US Treasury Bill Rate + 3.75%), 12/19/2027 <br>(Acquired 12/16/2024, Cost $2,859,000) (b)(c)(d)(g) | 2859000 | 2833759  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class C, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 12/19/2027 <br>(Acquired 12/16/2024, Cost $10,729,000) (b)(c)(d)(g) | 10729000 | 10738694  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowline Re 2022-1 Class A, 10.63% (3 Month US Treasury Bill Rate + 6.35%), 05/23/2025 <br>(Acquired 5/12/2022, Cost $2,652,000) (b)(c)(d)(g) | 2652000 | 2656792  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowline Re 2022-1 Class B, 20.47% (3 Month US Treasury Bill Rate + 16.19%), 05/23/2025 <br>(Acquired 5/12/2022, Cost $2,431,000) (b)(c)(d) | 2431000 | 2444023  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowline Re 2022-1 Class C, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 05/23/2025 <br>(Acquired 5/12/2022, Cost $2,500,000) (b)(c)(d) | 2500000 | 2506897  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bridge Street Re 2025-1 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 01/07/2028 <br>(Acquired 12/24/2024, Cost $13,052,000) (b)(c)(d) | 13052000 | 12986786  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caelus Re 2018-1 Class A, 4.78% (3 Month US Treasury Bill Rate + 0.50%), 06/09/2025 <br>(Acquired 5/4/2018, Cost $2,319,000) (b)(c)(d) | 2319000 | 2168265  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caelus Re 2018-1 Class B, 4.38% (3 Month US Treasury Bill Rate + 0.10%), 06/09/2025 <br>(Acquired 5/4/2018 - 7/26/2018, Cost $1,902,959) (b)(c)(d)(e) | 1905000 | 4858  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Easton Re 2024-1 Class A, 11.78% (3 Month US Treasury Bill Rate + 7.50%), 01/08/2027 <br>(Acquired 2/26/2025, Cost $256,843) (b)(c)(d) | 250000 | 254038  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finca Re 2022-1 Class A, 12.54% (3 Month US Treasury Bill Rate + 8.26%), 06/06/2025 <br>(Acquired 6/28/2022, Cost $3,094,000) (b)(c)(d) | 3094000 | 3103758  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Re 2023-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 01/08/2027 <br>(Acquired 12/19/2023, Cost $9,848,000) (b)(c)(d) | 9848000 | 9991594  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2022-1 Class A, 10.75% (3 Month US Treasury Bill Rate + 6.46%), 01/07/2026 <br>(Acquired 12/22/2022, Cost $1,313,000) (b)(c)(d) | 1313000 | 1323620  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2023-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 01/07/2027 <br>(Acquired 12/8/2023, Cost $3,003,000) (b)(c)(d) | 3003000 | 3049748  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2024-1 Class A, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 01/07/2028 <br>(Acquired 12/11/2024, Cost $11,520,000) (b)(c)(d) | 11520000 | 11451133  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **6** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 23.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2024-1 Class B, 12.54% (3 Month US Treasury Bill Rate + 8.25%), 01/07/2028 <br>(Acquired 12/11/2024, Cost $4,756,000) (b)(c)(d) | $4756000 | $4724228  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuchsia 2 2024-1 Class A, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 04/06/2028 <br>(Acquired 12/18/2024, Cost $17,684,000) (b)(c)(d) | 17684000 | 17745019  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuchsia 2023-1 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 04/06/2027 <br>(Acquired 12/14/2023, Cost $7,799,000) (b)(c)(d) | 7799000 | 8069883  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galileo Re 2023-1 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 01/07/2028 <br>(Acquired 12/4/2023, Cost $11,633,000) (b)(c)(d) | 11633000 | 11955112  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galileo Re 2023-1 Class B, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 01/08/2026 <br>(Acquired 12/4/2023, Cost $3,773,000) (b)(c)(d) | 3773000 | 3785421  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2020-2 Class C, 20.14% (3 Month US Treasury Bill Rate + 15.85%), 01/08/2026 <br>(Acquired 10/19/2020 - 5/5/2021, Cost $933,344) (b)(c)(d) | 933284 | 606635  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class A, 11.54% (3 Month US Treasury Bill Rate + 7.25%), 01/08/2029 <br>(Acquired 12/17/2024, Cost $6,413,000) (b)(c)(d) | 6413000 | 6397827  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class B, 15.04% (3 Month US Treasury Bill Rate + 10.75%), 01/08/2029 <br>(Acquired 12/17/2024, Cost $6,413,000) (b)(c)(d) | 6413000 | 6518131  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class C, 27.29% (3 Month US Treasury Bill Rate + 23.00%), 01/08/2027 <br>(Acquired 12/17/2024, Cost $5,586,000) (b)(c)(d) | 5586000 | 5425992  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Point Re 2023-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 01/06/2027 <br>(Acquired 12/1/2023, Cost $22,886,000) (b)(c)(d) | 22886000 | 23047026  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hypatia Ltd. 2023-1 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 04/08/2026 <br>(Acquired 3/27/2023, Cost $2,761,000) (b)(c)(d) | 2761000 | 2860535  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Locke Tavern Re 2023-1 Class A, 9.06% (3 Month US Treasury Bill Rate + 4.78%), 04/09/2026 <br>(Acquired 3/23/2023 - 10/23/2023, Cost $12,178,260) (b)(c)(d) | 12134000 | 12241295  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long Point Re IV 2022-1 Class A, 8.53% (3 Month US Treasury Bill Rate + 4.25%), 06/01/2026 <br>(Acquired 5/13/2022 - 7/16/2024, Cost $30,705,329) (b)(c)(d) | 30710000 | 30894260  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2022-2 Class A, 11.77% (3 Month US Treasury Bill Rate + 7.49%), 07/07/2025 <br>(Acquired 6/7/2022, Cost $6,631,000) (b)(c)(d) | 6631000 | 6664825  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2023-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 07/07/2026 <br>(Acquired 4/5/2023 - 1/15/2025, Cost $10,177,305) (b)(c)(d) | 10084000 | 10348463  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2023-2 Class A, 14.53% (3 Month US Treasury Bill Rate + 10.25%), 07/07/2026 <br>(Acquired 4/5/2023 - 6/3/2024, Cost $10,614,754) (b)(c)(d) | 10600000 | 10946986  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-1 Class A, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 07/07/2027 <br>(Acquired 5/8/2024, Cost $15,946,000) (b)(c)(d) | 15946000 | 16463057  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-2 Class A, 13.03% (3 Month US Treasury Bill Rate + 8.75%), 07/07/2027 <br>(Acquired 5/8/2024, Cost $20,332,000) (b)(c)(d) | 20332000 | 21015775  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-3 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 07/07/2027 <br>(Acquired 5/8/2024 - 1/9/2025, Cost $34,899,912) (b)(c)(d)(g) | 34846000 | 35428190  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2021-1 Class A, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 07/08/2025 <br>(Acquired 6/22/2021 - 2/18/2022, Cost $10,321,714) (b)(c)(d)(g) | 10320000 | 10325160  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2024-1 Class A, 14.04% (3 Month US Treasury Bill Rate + 9.75%), 06/25/2027 <br>(Acquired 1/23/2025 - 2/13/2025, Cost $9,461,898) (b)(c)(d)(g) | 8658000 | 9327069  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2025-1 Class A, 12.29% (3 Month US Treasury Bill Rate + 8.00%), 01/08/2029 <br>(Acquired 12/3/2024, Cost $8,733,000) (b)(c)(d) | 8733000 | 8748741  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2025-1 Class B, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 01/07/2028 <br>(Acquired 12/3/2024, Cost $9,129,000) (b)(c)(d) | 9129000 | 9227757  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Re 2023-1 Class A, 11.10% (3 Month US Treasury Bill Rate + 6.82%), 06/05/2026 <br>(Acquired 5/24/2023 - 3/5/2024, Cost $7,856,730) (b)(c)(d) | 7804000 | 7997543  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2023-1 Class A, 13.22% (3 Month US Treasury Bill Rate + 8.93%), 01/08/2026 <br>(Acquired 12/16/2022 - 3/14/2025, Cost $13,216,330) (b)(c)(d) | 13095000 | 13468273  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 01/10/2028 <br>(Acquired 12/17/2024, Cost $6,206,000) (b)(c)(d) | 6206000 | 6160522  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class B, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 01/10/2028 <br>(Acquired 12/17/2024, Cost $3,931,000) (b)(c)(d) | 3931000 | 3968191  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class C, 18.29% (3 Month US Treasury Bill Rate + 14.00%), 01/10/2028 <br>(Acquired 12/17/2024, Cost $9,538,000) (b)(c)(d)(e) | 9538000 | 4053650  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>7</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 23.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico Parametric Re 2024-1 Class A, 9.00% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 6/14/2024, Cost $3,132,000) (b)(c)(d) | $3132000 | $3202515  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2019-I Class 12, 4.38% (3 Month US Treasury Bill Rate + 0.10%), 06/06/2026 <br>(Acquired 5/8/2019, Cost $183,217) (b)(c)(d) | 183217 | 104480  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 11, 14.21% (3 Month US Treasury Bill Rate + 9.93%), 06/06/2025 <br>(Acquired 5/6/2021 - 3/31/2022, Cost $8,093,543) (b)(c)(d)(e) | 8094000 | 202755  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 12, 9.79% (3 Month US Treasury Bill Rate + 5.51%), 06/06/2025 <br>(Acquired 5/6/2021 - 7/17/2023, Cost $9,204,517) (b)(c)(d) | 9241000 | 3234350  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 13, 8.16% (3 Month US Treasury Bill Rate + 3.88%), 06/06/2025 <br>(Acquired 5/6/2021 - 2/9/2022, Cost $5,305,167) (b)(c)(d) | 5305000 | 4775030  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 14, 6.99% (3 Month US Treasury Bill Rate + 2.71%), 06/06/2025 <br>(Acquired 5/6/2021 - 3/31/2022, Cost $6,851,592) (b)(c)(d) | 6852000 | 6778875  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 11, 16.79% (3 Month US Treasury Bill Rate + 12.51%), 06/06/2026 <br>(Acquired 5/2/2022, Cost $3,094,000) (b)(c)(d)(e) | 3094000 | 77505  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 12, 12.07% (3 Month US Treasury Bill Rate + 7.79%), 06/06/2026 <br>(Acquired 5/2/2022, Cost $4,421,000) (b)(c)(d) | 4421000 | 1547350  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 13, 9.82% (3 Month US Treasury Bill Rate + 5.54%), 06/06/2026 <br>(Acquired 5/2/2022 - 3/5/2024, Cost $11,108,926) (b)(c)(d) | 11154000 | 9619767  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 14, 8.49% (3 Month US Treasury Bill Rate + 4.21%), 06/06/2026 <br>(Acquired 5/2/2022, Cost $12,142,000) (b)(c)(d) | 12142000 | 11519206  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-I Class 13, 15.44% (3 Month US Treasury Bill Rate + 11.16%), 06/06/2027 <br>(Acquired 4/28/2023, Cost $13,105,000) (b)(c)(d) | 13105000 | 4259125  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-I Class 14, 10.81% (3 Month US Treasury Bill Rate + 6.53%), 06/06/2027 <br>(Acquired 4/28/2023 - 9/22/2023, Cost $23,515,420) (b)(c)(d) | 23567000 | 23010347  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-II Class 3, 12.70% (3 Month US Treasury Bill Rate + 8.42%), 12/06/2027 <br>(Acquired 11/7/2023, Cost $7,078,000) (b)(c)(d) | 7078000 | 7249040  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-II Class 5, 10.20% (3 Month US Treasury Bill Rate + 5.92%), 12/06/2027 <br>(Acquired 11/7/2023, Cost $15,862,000) (b)(c)(d) | 15862000 | 16279139  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-I Class 14, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 06/06/2028 <br>(Acquired 4/25/2024, Cost $5,160,000) (b)(c)(d) | 5160000 | 4953572  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 2, 17.53% (3 Month US Treasury Bill Rate + 13.25%), 12/06/2028 <br>(Acquired 11/4/2024, Cost $4,876,000) (b)(c)(d) | 4876000 | 5079395  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 3, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 12/06/2028 <br>(Acquired 11/4/2024, Cost $12,293,000) (b)(c)(d) | 12293000 | 12496283  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 4, 9.53% (3 Month US Treasury Bill Rate + 5.25%), 12/06/2028 <br>(Acquired 11/4/2024, Cost $9,952,000) (b)(c)(d) | 9952000 | 10086601  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverfront Re 2025 Class A, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 01/08/2029 <br>(Acquired 4/21/2025, Cost $9,116,000) (b)(c)(d) | 9116000 | 9115444  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverfront Re 2025 Class B, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 01/08/2029 <br>(Acquired 4/21/2025, Cost $1,250,000) (b)(c)(d) | 1250000 | 1249917  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sakura Re 2022-1 Class A, 17.79% (3 Month US Treasury Bill Rate + 13.50%), 01/05/2026 <br>(Acquired 12/22/2022, Cost $5,224,000) (b)(c)(d) | 5224000 | 5421788  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2021-2 Class B, 4.79% (3 Month US Treasury Bill Rate + 0.50%), 04/07/2028 <br>(Acquired 11/23/2021, Cost $1,500,000) (b)(c)(d) | 1500000 | 806250  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2024-3 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 04/07/2029 <br>(Acquired 12/10/2024, Cost $19,466,000) (b)(c)(d) | 19466000 | 19147264  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2024-3 Class B, 9.54% (3 Month US Treasury Bill Rate + 5.25%), 04/07/2029 <br>(Acquired 12/10/2024, Cost $19,864,000) (b)(c)(d) | 19864000 | 19756228  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class A, 8.28% (3 Month US Treasury Bill Rate + 4.00%), 04/07/2028 <br>(Acquired 3/13/2025, Cost $14,908,000) (b)(c)(d) | 14908000 | 14875963  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class A-2, 8.53% (3 Month US Treasury Bill Rate + 4.25%), 04/08/2030 <br>(Acquired 3/13/2025, Cost $13,070,000) (b)(c)(d) | 13070000 | 13056093  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class B-1, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 04/07/2028 <br>(Acquired 3/13/2025, Cost $8,577,000) (b)(c)(d) | 8577000 | 8557513  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class B-2, 9.03% (3 Month US Treasury Bill Rate + 4.75%), 04/08/2030 <br>(Acquired 3/13/2025, Cost $25,732,000) (b)(c)(d) | 25732000 | 25704119  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **8** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 23.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-1 Class A, 7.69% (3 Month US Treasury Bill Rate + 3.41%), 04/07/2026 <br>(Acquired 3/22/2022 - 10/2/2023, Cost $17,485,689) (b)(c)(d) | $17697000 | $17423245  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-1 Class B, 14.88% (3 Month US Treasury Bill Rate + 10.60%), 04/07/2026 <br>(Acquired 3/22/2022, Cost $6,189,000) (b)(c)(d) | 6189000 | 5931340  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-2 Class A, 10.73% (3 Month US Treasury Bill Rate + 6.45%), 06/07/2025 <br>(Acquired 5/26/2022 - 3/21/2024, Cost $9,742,188) (b)(c)(d) | 9737000 | 9739434  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-2 Class B, 12.74% (3 Month US Treasury Bill Rate + 8.46%), 06/07/2025 <br>(Acquired 5/26/2022 - 3/28/2024, Cost $9,902,242) (b)(c)(d) | 9894000 | 9906382  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-3 Class A, 10.56% (3 Month US Treasury Bill Rate + 6.27%), 04/07/2027 <br>(Acquired 12/1/2022, Cost $4,607,000) (b)(c)(d) | 4607000 | 4727491  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-1 Class A, 9.83% (3 Month US Treasury Bill Rate + 5.55%), 04/07/2027 <br>(Acquired 3/24/2023, Cost $3,162,000) (b)(c)(d) | 3162000 | 3222091  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-1 Class B, 19.78% (3 Month US Treasury Bill Rate + 15.50%), 04/07/2027 <br>(Acquired 3/24/2023, Cost $3,954,000) (b)(c)(d) | 3954000 | 4051856  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-2 Class A, 12.42% (3 Month US Treasury Bill Rate + 8.14%), 06/05/2026 <br>(Acquired 5/24/2023 - 12/12/2024, Cost $21,361,641) (b)(c)(d) | 21069000 | 21795744  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2024-1 Class A, 10.04% (3 Month US Treasury Bill Rate + 5.75%), 04/07/2028 <br>(Acquired 1/16/2024, Cost $16,206,000) (b)(c)(d) | 16206000 | 16728117  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solomon Re 2023-1 Class A, 9.80% (3 Month US Treasury Bill Rate + 5.52%), 06/08/2026 <br>(Acquired 6/12/2023 - 8/16/2023, Cost $4,728,229) (b)(c)(d) | 4719000 | 4816601  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stabilitas Re 2023-1 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 06/05/2026 <br>(Acquired 6/7/2023 - 1/16/2025, Cost $8,647,010) (b)(c)(d) | 8399000 | 8623005  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titania Re 2024-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 11/26/2027 <br>(Acquired 11/14/2024, Cost $7,603,000) (b)(c)(d) | 7603000 | 7621833  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titania Re 2024-1 Class B, 13.78% (3 Month US Treasury Bill Rate + 9.50%), 11/26/2027 <br>(Acquired 11/14/2024, Cost $7,192,000) (b)(c)(d) | 7192000 | 7197121  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Topanga Re 2021-1 Class A, 9.34% (3 Month US Treasury Bill Rate + 5.05%), 01/08/2026 <br>(Acquired 12/8/2021, Cost $6,189,000) (b)(c)(d) | 6189000 | 5686144  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Re 2022-1 Class A, 18.77% (3 Month US Treasury Bill Rate + 14.49%), 05/21/2025 <br>(Acquired 4/21/2022, Cost $3,979,000) (b)(c)(d) | 3979000 | 4002516  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yosemite Re 2022-1 Class A, 14.87% (3 Month US Treasury Bill Rate + 10.60%), 06/06/2025 <br>(Acquired 5/31/2022, Cost $4,421,000) (b)(c)(d) | 4421000 | 4454160  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yosemite Re 2025-1 Class A, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 06/07/2028 <br>(Acquired 3/18/2025, Cost $6,891,000) (b)(c)(d) | 6891000 | 6871095  |
|  |  | **819633572**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 31.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2024-1 Class A, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 07/08/2027 <br>(Acquired 6/24/2024, Cost $1,750,000) (b)(c)(d) | 1750000 | 1843457  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2024-1 Class B, 22.29% (3 Month US Treasury Bill Rate + 18.00%), 07/08/2027 <br>(Acquired 6/24/2024, Cost $3,133,000) (b)(c)(d) | 3133000 | 3274621  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2022-1 Class A, 11.80% (3 Month US Treasury Bill Rate + 7.52%), 06/07/2025 <br>(Acquired 5/23/2022 - 7/30/2024, Cost $16,901,400) (b)(c)(d) | 16903000 | 16951275  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2023-1 Class A, 12.67% (3 Month US Treasury Bill Rate + 8.39%), 06/07/2026 <br>(Acquired 4/12/2023 - 7/30/2024, Cost $18,588,256) (b)(c)(d)(g) | 18587000 | 19056127  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class A, 10.29% (3 Month US Treasury Bill Rate + 6.00%), 06/07/2027 <br>(Acquired 4/4/2024 - 3/12/2025, Cost $49,364,691) (b)(c)(d) | 49116000 | 50671872  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class B, 12.04% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2027 <br>(Acquired 4/4/2024, Cost $53,856,000) (b)(c)(d)(g) | 53856000 | 56149996  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class C, 15.53% (3 Month US Treasury Bill Rate + 11.25%), 06/07/2026 <br>(Acquired 4/4/2024, Cost $43,561,000) (b)(c)(d) | 43561000 | 45289544  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armor Re II 2024-1 Class A, 14.53% (3 Month US Treasury Bill Rate + 10.25%), 05/07/2027 <br>(Acquired 4/11/2024, Cost $15,590,000) (b)(c)(d) | 15590000 | 16245669  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armor Re II 2024-2 Class A, 12.79% (3 Month US Treasury Bill Rate + 8.50%), 01/07/2028 <br>(Acquired 12/11/2024, Cost $7,651,000) (b)(c)(d) | 7651000 | 7683391  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Astro Re 2021-1 Class A, 13.04% (3 Month US Treasury Bill Rate + 8.75%), 07/08/2025 <br>(Acquired 7/6/2021, Cost $3,183,000) (b)(c)(d)(e) | 3183000 | 2068950  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>9</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 31.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2023-1 Class A, 17.19% (3 Month US Treasury Bill Rate + 12.91%), 05/26/2026 <br>(Acquired 5/11/2023 - 2/5/2025, Cost $10,233,663) (b)(c)(d) | $9942000 | $10461549  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2023-1 Class B, 23.98% (3 Month US Treasury Bill Rate + 19.70%), 05/26/2026 <br>(Acquired 5/11/2023, Cost $8,335,000) (b)(c)(d) | 8335000 | 8913332  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2024-1 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 04/30/2027 <br>(Acquired 4/18/2024 - 2/13/2025, Cost $15,077,493) (b)(c)(d) | 15037000 | 15925138  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2024-1 Class B, 22.78% (3 Month US Treasury Bill Rate + 18.50%), 04/30/2027 <br>(Acquired 4/18/2024, Cost $4,958,000) (b)(c)(d) | 4958000 | 5420215  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2025-1 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 05/08/2028 <br>(Acquired 4/21/2025, Cost $13,371,000) (b)(c)(d) | 13371000 | 13384364  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Ridge Re 2023-1 Class A, 9.53% (3 Month US Treasury Bill Rate + 5.25%), 01/08/2027 <br>(Acquired 11/14/2023, Cost $17,448,000) (b)(c)(d) | 17448000 | 17887454  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Ridge Re 2023-1 Class B, 7.99% (3 Month US Treasury Bill Rate + 7.99%), 01/08/2027 <br>(Acquired 11/14/2023, Cost $21,241,000) (b)(c)(d) | 21241000 | 21784685  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2023-1 Class A, 12.70% (3 Month US Treasury Bill Rate + 8.42%), 04/28/2026 <br>(Acquired 4/14/2023 - 9/17/2024, Cost $25,092,783) (b)(c)(d)(g) | 25019000 | 25559298  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2024-1 Class A, 12.99% (3 Month US Treasury Bill Rate + 8.70%), 04/05/2027 <br>(Acquired 3/12/2024 - 9/13/2024, Cost $48,068,572) (b)(c)(d) | 47978000 | 48506790  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2025-1 Class A, 11.18% (3 Month US Treasury Bill Rate + 6.90%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $53,817,000) (b)(c)(d) | 53817000 | 54005360  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catahoula Re II 2022-1 Class A, 15.52% (3 Month US Treasury Bill Rate + 11.24%), 06/16/2025 <br>(Acquired 6/2/2022 - 4/2/2024, Cost $12,686,628) (b)(c)(d) | 12678000 | 12766727  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catahoula Re II 2022-1 Class B, 17.64% (3 Month US Treasury Bill Rate + 13.36%), 06/16/2025 <br>(Acquired 6/2/2022, Cost $7,073,000) (b)(c)(d) | 7073000 | 7145855  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles River Re 2024-1 Class A, 11.04% (3 Month US Treasury Bill Rate + 6.75%), 05/10/2027 <br>(Acquired 4/5/2024 - 8/12/2024, Cost $11,312,472) (b)(c)(d) | 11310000 | 11477688  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2022-1 Class A, 9.34% (3 Month US Treasury Bill Rate + 5.06%), 06/09/2025 <br>(Acquired 4/11/2022, Cost $5,526,000) (b)(c)(d) | 5526000 | 5535300  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2023-1 Class A, 10.87% (3 Month US Treasury Bill Rate + 6.59%), 06/07/2026 <br>(Acquired 4/27/2023 - 8/15/2024, Cost $8,334,328) (b)(c)(d) | 8321000 | 8497081  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2023-1 Class B, 13.05% (3 Month US Treasury Bill Rate + 8.77%), 06/07/2026 <br>(Acquired 4/27/2023, Cost $6,655,000) (b)(c)(d) | 6655000 | 6868928  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2024-1 Class A, 13.54% (3 Month US Treasury Bill Rate + 9.25%), 06/07/2027 <br>(Acquired 3/19/2024, Cost $3,105,000) (b)(c)(d) | 3105000 | 3219522  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2024-1 Class B, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 06/07/2027 <br>(Acquired 3/19/2024, Cost $5,980,000) (b)(c)(d) | 5980000 | 6186289  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2028 <br>(Acquired 3/5/2025, Cost $6,735,000) (b)(c)(d) | 6735000 | 6700577  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2025-1 Class B, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 06/07/2028 <br>(Acquired 3/5/2025, Cost $5,715,000) (b)(c)(d) | 5715000 | 5693432  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Re 2022-1 Class A, 8.04% (3 Month US Treasury Bill Rate + 3.76%), 07/08/2025 <br>(Acquired 6/15/2022, Cost $1,750,000) (b)(c)(d) | 1750000 | 1754983  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Re 2023-1 Class A, 8.55% (3 Month US Treasury Bill Rate + 4.27%), 07/08/2026 <br>(Acquired 6/7/2023 - 8/18/2023, Cost $8,301,459) (b)(c)(d) | 8289000 | 8376035  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 05/13/2027 <br>(Acquired 5/15/2024, Cost $35,048,000) (b)(c)(d) | 35048000 | 36683094  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class B, 15.78% (3 Month US Treasury Bill Rate + 11.50%), 05/13/2027 <br>(Acquired 5/15/2024 - 6/24/2024, Cost $36,970,800) (b)(c)(d) | 36978000 | 38548049  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class C, 17.03% (3 Month US Treasury Bill Rate + 12.75%), 05/13/2027 <br>(Acquired 5/15/2024, Cost $24,434,000) (b)(c)(d) | 24434000 | 25395172  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Coast Re IV 2023-1 Class A, 9.25% (3 Month US Treasury Bill Rate + 9.52%), 04/07/2026 <br>(Acquired 3/24/2023, Cost $2,000,000) (b)(c)(d) | 2000000 | 2029864  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Coast Re IV 2025-1 Class B, 11.78% (3 Month US Treasury Bill Rate + 7.50%), 03/10/2028 <br>(Acquired 2/21/2025, Cost $2,165,000) (b)(c)(d) | 2165000 | 2158505  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fish Pond Re 2024-1 Class A, 8.30% (3 Month US Treasury Bill Rate + 4.02%), 01/08/2027 <br>(Acquired 12/22/2023, Cost $8,722,000) (b)(c)(d) | 8722000 | 8910561  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **10** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 31.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline 2018-1 Class A, 4.38% (3 Month US Treasury Bill Rate + 0.10%), 07/06/2026 <br>(Acquired 6/12/2018, Cost $203,937) (b)(c)(d) | $203937 | $86816  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2022-1 Class A, 13.56% (3 Month US Treasury Bill Rate + 9.28%), 05/12/2025 <br>(Acquired 4/22/2022 - 1/10/2024, Cost $9,739,543) (b)(c)(d) | 9739000 | 9734160  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-1 Class A, 18.24% (3 Month US Treasury Bill Rate + 13.96%), 02/24/2026 <br>(Acquired 2/3/2023, Cost $13,183,000) (b)(c)(d) | 13183000 | 13807472  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-1 Class B, 24.68% (3 Month US Treasury Bill Rate + 20.40%), 02/24/2026 <br>(Acquired 2/3/2023, Cost $3,113,000) (b)(c)(d) | 3113000 | 3256419  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-3 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 07/08/2026 <br>(Acquired 7/14/2023, Cost $5,404,000) (b)(c)(d) | 5404000 | 5385213  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2024-1 Class AA, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 07/08/2027 <br>(Acquired 3/11/2024 - 7/11/2024, Cost $9,442,785) (b)(c)(d) | 9464000 | 9519189  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 07/07/2028 <br>(Acquired 2/12/2025, Cost $3,457,000) (b)(c)(d) | 3457000 | 3443023  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class AA, 4.28% (3 Month US Treasury Bill Rate), 12/22/2025 <br>(Acquired 2/12/2025, Cost $8,832,267) (b)(c)(d) | 9353000 | 8784202  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class AAA, 8.54% (3 Month US Treasury Bill Rate + 4.25%), 07/07/2028 <br>(Acquired 2/12/2025, Cost $5,693,000) (b)(c)(d) | 5693000 | 5650283  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class C1, 4.28% (3 Month US Treasury Bill Rate), 12/22/2025 <br>(Acquired 2/12/2025, Cost $6,076,988) (b)(c)(d) | 6507000 | 5985718  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class C2, 13.79% (3 Month US Treasury Bill Rate + 9.50%), 07/07/2027 <br>(Acquired 2/12/2025, Cost $20,740,000) (b)(c)(d) | 20740000 | 20631654  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-2 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 07/07/2028 <br>(Acquired 3/21/2025, Cost $8,118,000) (b)(c)(d) | 8118000 | 8097275  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re II 2023-1 Class A, 13.18% (3 Month US Treasury Bill Rate + 8.90%), 04/27/2026 <br>(Acquired 4/13/2023, Cost $4,542,000) (b)(c)(d) | 4542000 | 4655323  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Genesee Street Re 2025-1 Class A, 7.53% (3 Month US Treasury Bill Rate + 3.25%), 04/07/2028 <br>(Acquired 4/28/2025, Cost $10,306,000) (b)(c)(d) | 10306000 | 10306000  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2022-1 Class A, 14.36% (3 Month US Treasury Bill Rate + 10.08%), 04/22/2029 <br>(Acquired 3/20/2024 - 4/25/2025, Cost $445,669) (b)(c)(d)(e) | 445857 | 189489  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2023-1 Class A, 15.03% (3 Month US Treasury Bill Rate + 10.75%), 04/07/2026 <br>(Acquired 3/16/2023 - 7/19/2023, Cost $3,756,571) (b)(c)(d) | 3750000 | 3792261  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2025-1 Class A, 11.03% (3 Month US Treasury Bill Rate + 6.75%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $15,901,000) (b)(c)(d) | 15901000 | 15808838  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2025-1 Class B, 12.53% (3 Month US Treasury Bill Rate + 8.25%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $7,339,000) (b)(c)(d) | 7339000 | 7289410  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2022-1 Class A, 11.11% (3 Month US Treasury Bill Rate + 6.83%), 06/06/2025 <br>(Acquired 5/9/2022, Cost $5,968,000) (b)(c)(d)(e) | 5968000 | 746000  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2023-1 Class A, 17.14% (3 Month US Treasury Bill Rate + 12.86%), 06/06/2025 <br>(Acquired 3/23/2023, Cost $5,139,000) (b)(c)(d) | 5139000 | 5187165  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $5,694,000) (b)(c)(d)(g) | 5694000 | 5686880  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class B, 17.54% (3 Month US Treasury Bill Rate + 13.25%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $3,254,000) (b)(c)(d) | 3254000 | 3246675  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class C, 21.29% (3 Month US Treasury Bill Rate + 17.00%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $5,694,000) (b)(c)(d) | 5694000 | 5829574  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class D, 27.29% (3 Month US Treasury Bill Rate + 23.00%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $8,594,000) (b)(c)(d)(g) | 8594000 | 8275519  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class A-1, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 06/06/2027 <br>(Acquired 2/21/2025, Cost $1,948,000) (b)(c)(d) | 1948000 | 1934133  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class A-2, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $4,272,000) (b)(c)(d) | 4272000 | 4243668  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class B-1, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 06/06/2027 <br>(Acquired 2/21/2025, Cost $1,500,000) (b)(c)(d) | 1500000 | 1487251  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class B-2, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $3,458,000) (b)(c)(d) | 3458000 | 3430682  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>11</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 31.2% (continued)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class C, 16.53% (3 Month US Treasury Bill Rate + 12.25%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $10,577,000) (b)(c)(d) | $10577000 | $10539943  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class D, 29.78% (3 Month US Treasury Bill Rate + 25.50%), 06/06/2027 <br>(Acquired 2/21/2025, Cost $6,509,000) (b)(c)(d) | 6509000 | 6395610  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lightning Re 2023-1 Class A, 15.28% (3 Month US Treasury Bill Rate + 11.00%), 03/31/2026 <br>(Acquired 3/20/2023 - 1/10/2025, Cost $51,111,045) (b)(c)(d) | 49758000 | 51076587  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Longleaf Pine Re 2024-1 Class A, 21.78% (3 Month US Treasury Bill Rate + 17.50%), 05/25/2027 <br>(Acquired 5/10/2024, Cost $14,003,000) (b)(c)(d) | 14003000 | 14716859  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Ferry Re 2023-1 Class A, 8.71% (3 Month US Treasury Bill Rate + 4.43%), 07/08/2026 <br>(Acquired 6/23/2023 - 8/25/2023, Cost $7,467,916) (b)(c)(d) | 7458000 | 7544833  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Ferry Re 2023-1 Class B, 9.55% (3 Month US Treasury Bill Rate + 5.27%), 07/08/2026 <br>(Acquired 6/23/2023 - 7/15/2024, Cost $11,234,510) (b)(c)(d) | 11219000 | 11406784  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2023-1 Class A, 4.69% (3 Month US Treasury Bill Rate + 4.69%), 07/08/2026 <br>(Acquired 6/26/2023 - 8/17/2023, Cost $8,013,304) (b)(c)(d) | 8009000 | 8116849  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2023-1 Class B, 10.29% (3 Month US Treasury Bill Rate + 6.02%), 07/08/2026 <br>(Acquired 6/26/2023 - 12/18/2024, Cost $19,875,710) (b)(c)(d) | 19779000 | 20164690  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2024-1 Class A, 4.50% (3 Month US Treasury Bill Rate + 4.50%), 07/08/2027 <br>(Acquired 6/21/2024, Cost $8,145,000) (b)(c)(d) | 8145000 | 8327395  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metrocat Re 2023-1 Class A, 5.75% (3 Month US Treasury Bill Rate + 5.75%), 05/08/2026 <br>(Acquired 5/12/2023, Cost $2,429,000) (b)(c)(d) | 2429000 | 2432459  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2023-1 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 12/07/2026 <br>(Acquired 11/16/2023, Cost $11,407,000) (b)(c)(d) | 11407000 | 11489547  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2023-1 Class B, 17.78% (3 Month US Treasury Bill Rate + 13.50%), 12/07/2026 <br>(Acquired 11/16/2023, Cost $4,156,000) (b)(c)(d) | 4156000 | 4255125  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2024-1 Class A, 19.04% (3 Month US Treasury Bill Rate + 14.75%), 06/07/2028 <br>(Acquired 6/17/2024, Cost $5,845,000) (b)(c)(d) | 5845000 | 6390113  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2025-1 Class A, 14.04% (3 Month US Treasury Bill Rate + 9.75%), 01/16/2029 <br>(Acquired 12/27/2024, Cost $15,042,000) (b)(c)(d) | 15042000 | 15013149  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2025-2 Class A, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 04/10/2029 <br>(Acquired 3/28/2025, Cost $5,273,000) (b)(c)(d) | 5273000 | 5257663  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Re 2024-1 Class A, 13.79% (3 Month US Treasury Bill Rate + 9.50%), 06/07/2027 <br>(Acquired 4/4/2024, Cost $10,494,000) (b)(c)(d) | 10494000 | 10914348  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2028 <br>(Acquired 4/1/2025, Cost $11,359,000) (b)(c)(d) | 11359000 | 11329529  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pelican IV Re 2021-1 Class B, 4.78% (3 Month US Treasury Bill Rate + 0.50%), 05/07/2027 <br>(Acquired 4/29/2021, Cost $2,873,000) (b)(c)(d)(e) | 2873000 | 144  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2023-1 Class A, 17.14% (1 Month Term SOFR + 12.81%), 04/24/2026 <br>(Acquired 4/6/2023 - 4/2/2024, Cost $8,805,051) (b)(c)(d) | 8749000 | 9048028  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2023-2 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 06/05/2026 <br>(Acquired 6/27/2023 - 7/15/2024, Cost $7,889,172) (b)(c)(d) | 7888000 | 8113471  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2024-1 Class A, 13.29% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 4/2/2024, Cost $26,698,000) (b)(c)(d) | 26698000 | 27187908  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recoletos Re DAC 2024-1 Class A, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 01/07/2028 <br>(Acquired 12/9/2024, Cost $7,030,000) (b)(c)(d) | 7030000 | 7000794  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabine Re 2024-1 Class A, 12.54% (3 Month US Treasury Bill Rate + 8.25%), 04/07/2027 <br>(Acquired 3/26/2024 - 2/26/2025, Cost $7,333,266) (b)(c)(d) | 7286000 | 7452744  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2024-1 Class A, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 02/26/2027 <br>(Acquired 2/14/2024, Cost $9,339,000) (b)(c)(d) | 9339000 | 9791941  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2024-1 Class B, 16.04% (3 Month US Treasury Bill Rate + 11.75%), 02/26/2027 <br>(Acquired 2/14/2024, Cost $4,051,000) (b)(c)(d) | 4051000 | 4223307  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2025-1 Class A, 10.79% (3 Month US Treasury Bill Rate + 6.50%), 02/21/2028 <br>(Acquired 2/6/2025, Cost $9,395,000) (b)(c)(d) | 9395000 | 9369300  |
|  |  | **1103080161**  |
|  |  | **2465998299**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL EVENT LINKED BONDS** <br>**(Cost $3,011,308,843)** |  | **2990784052**  |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **12** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Par** | **Value**  |
|  **QUOTA SHARES AND OTHER REINSURANCE-RELATED SECURITIES - 12.8% (a)**<br>|  |  |
|  **Participation Notes - 1.7%**<br>|  |  |
|  **Global - 1.7%** <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2022-1 Class A (Acquired 12/14/2021, Cost $155,230) (b)(c)(d)(e)(h)(i) | $155230 | $79823  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2022-1 Class B (Acquired 12/17/2021, Cost $141,799) (b)(c)(d)(e)(h)(i) | 141799 | 89663  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2023-1 Class B (Acquired 12/22/2022, Cost $104,160) (b)(c)(d)(e)(h) | 104160 | 1153151  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2024-1 Class B (Acquired 12/20/2023, Cost $91,358) (b)(c)(d)(e)(h)(i) | 91358 | 4531993  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2025-1 Class B (Acquired 12/16/2024, Cost $35,154,000) (b)(c)(d)(e)(h)(i) | 35154000 | 34171445  |
| &nbsp;&nbsp;&nbsp;&nbsp; Phoenix 2 Re Pte. Ltd. 2022-1 Class A (Acquired 12/21/2021, Cost $62,007) (b)(c)(d)(e)(i) | 75000 | 80130  |
| &nbsp;&nbsp;&nbsp;&nbsp; Phoenix Re Pte. Ltd. 2022-1 Class B (Acquired 12/21/2021, Cost $29) (b)(c)(d)(e)(i) | 66 | 66  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2023-Dec Class GL-R (Acquired 12/8/2023, Cost $4,920) (c)(d)(e) | 4920 | 109698  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2024-Apr Class GL-R (Acquired 4/29/2024, Cost $21,866) (c)(d)(e) | 21866 | 871153  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2024-Dec Class GL-R (Acquired 12/5/2024, Cost $18,461,464) (c)(d)(e)(i) | 18461464 | 18931787  |
|  **TOTAL PARTICIPATION NOTES**<br>**(Cost $54,196,833)** |  | **60018909**  |
|  **Preference Shares - 11.1%**<br>|  |  |
|  **Global - 10.7%** <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 10.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arenal (Artex Segregated Account Company) <br>(Acquired 5/7/2015 - 12/17/2024, Cost $46,256,510) (c)(d)(e)(h) | 167359 | 42369876  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hatteras (Artex Segregated Account Company) <br>(Acquired 12/30/2014 - 11/1/2021, Cost $30,502,685) (c)(d)(e)(h) | 37256 | 31550022  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Charles 2 (Mt. Logan Re) <br>(Acquired 4/2/2014 - 4/22/2025, Cost $25,376,943) (c)(d)(e) | 25377 | 25791854  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson Charles 3 (Mt. Logan Re) <br>(Acquired 6/19/2014 - 7/22/2024, Cost $31,639,470) (c)(d)(e) | 31639 | 41831739  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Labrador (Horseshoe Re) <br>(Acquired 7/22/2022 - 1/5/2023, Cost $34,121,000) (c)(d)(e)(h) | 34121 | 62848763  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lyndhurst (Horseshoe Re) <br>(Acquired 12/31/2020, Cost $1,741,794) (c)(d)(e)(h) | 27200 | 45195  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison (Artex Segregated Account Company) <br>(Acquired 2/3/2020, Cost $919,370) (c)(d)(e)(h) | 5011 | 960768  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnolia (Artex Segregated Account Company) <br>(Acquired 6/20/2024, Cost $10,645,520) (c)(d)(e)(h) | 10646 | 12239832  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peregrine HYR <br>(Acquired 12/21/2020, Cost $16,629,628) (c)(d)(e)(h) | 1800000 | 21821080  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rondout (Artex Segregated Account Company) <br>(Acquired 5/29/2015 - 11/17/2023, Cost $83,904,155) (c)(d)(e)(h) | 150090 | 127110515  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thopas Re Ltd. 2024-2(S) <br>(Acquired 6/26/2024, Cost $10,594,074) (c)(d)(e)(h)(i) | 105941 | 11368007  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yoho (Artex Segregated Account Company) <br>(Acquired 5/17/2016 - 9/13/2021, Cost $3,154,135) (c)(d)(e)(h)(i) | 39886 | 401407  |
|  |  | **378339058**  |
|  **United States - 0.4%** <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trouvaille Re Ltd. <br>(Acquired 3/25/2024 - 3/26/2025, Cost $6,491,263) (c)(d)(e)(h)(i) | 60 | **12879719**  |
|  **TOTAL PREFERENCE SHARES**<br>**(Cost $301,976,547)** |  | **391218777**  |
|  **TOTAL QUOTA SHARES AND OTHER REINSURANCE-RELATED SECURITIES**<br>**(Cost $356,173,380)** |  | **451237686** |

---

<br> The accompanying notes are an integral part of these Financial Statements. (Continued) <br>

Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025<sub>13</sub>

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **Stone Ridge High Yield Reinsurance Risk Premium Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE**  |
|  **SHORT-TERM INVESTMENTS - 3.0%** |  |  |
|  **Money Market Funds - 3.0%** |  |  |
|  Fidelity Investments Money Market Funds - Government Portfolio - Class Institutional, 4.22% (j) | 53522226 | $53522226  |
|  Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Class Institutional, 4.24% (j) | 53522225 | 53522225  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS**<br>**(Cost $107,044,451)** |  | **107044451**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.5%**<br>**(Cost $3,474,526,674)** |  | **$3549066189**  |
|  Liabilities in Excess of Other Assets - (0.5)% |  | **(15985971)**  |
|  **TOTAL NET ASSETS - 100.0%** |  | **$3533080218** |

---

Percentages are stated as a percent of net assets.

Par amount is 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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Country shown is geographic area of peril risk.

&nbsp;&nbsp;&nbsp;&nbsp;(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 April 30, 2025 was $3,030,890,322, which represented 85.8% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Security is restricted as to resale.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Foreign issued security. Total foreign securities
 by country of domicile are $3,442,021,738. Foreign concentrations as a percentage of net assets are as follows: Bermuda: 84.8%, Cayman
 Islands: 3.1%, Supranational: 2.9%, Singapore: 2.8%, Ireland: 2.1%, Great Britain: 1.5%, and Hong Kong: 0.2%.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Value determined using significant unobservable
 inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Step coupon bond. The rate disclosed is as of April 30,
 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(g) All or a portion of the security is pledged as collateral
 for the Fund's reverse repurchase agreements.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Security is fair valued by the Adviser Valuation
 Committee using an insurance industry model pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities
 is $363,921,258, which represents 10.3% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(j) The rate shown represents the 7-day annualized effective
 yield as of April 30, 2025.

<br> The accompanying notes are an integral part of these Financial Statements. <br>

---

| | |
|:---|:---|
| **14** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Schedule of Investments as of April 30, 2025 <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE HIGH YIELD REINSURANCE RISK PREMIUM FUND**<br>

**Reverse Repurchase Agreements** 

---

| | | |
|:---|:---|:---|
|  **DESCRIPTION** | **PRINCIPAL** <br>**VALUE** | **AMORTIZED** <br>**COST**  |
|  **REVERSE REPURCHASE AGREEMENTS SOLD** |  |  |
|  Repurchase Agreement with JP Morgan Chase Securities, Inc., dated 4/24/2025, 5.70%, collateralized by $62,659,466 in Event Linked Bonds, due 5/23/2025 | $24958976 | $24958976  |
|  **TOTAL REVERSE REPURCHASE AGREEMENTS SOLD** | **$24958976**  | **$24958976** |

---

<br> The accompanying Notes are an integral part of the Schedule of Investments. <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **15** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **ACQUISTION** <br>**DATE** | **PAR** | **COST** | **VALUE**  |
|  **ASSET-BACKED SECURITIES - 12.1%**<br>|  |  |  |  |
|  **United States - 12.1%**<br>|  |  |  |  |
|  Achieve ABS Trust 2024-2PL (a)(b)(c) | &nbsp;&nbsp;&nbsp; 8/28/2024 | $12200  | $2123239  | $4533408  |
|  Achieve ABS Trust 2025-1PL (a)(b)(c) | &nbsp;&nbsp;&nbsp; 3/12/2025 | 28058 | 5123746 | 6057731  |
|  Achieve Personal Loan Master Pass-Through Trust Series 2025-2 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 1/24/2025 | 28969977 | 29102300 | 27624294  |
|  Affirm Asset Securitization Trust 2023-B (a)(b)(c) | &nbsp;&nbsp;&nbsp; 9/12/2023 | 1500000 | 1499807 | 1526165  |
|  Affirm Asset Securitization Trust 2024-X1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 5/2/2024 | 45355 | 1036896 | 995855  |
|  AMSR 2022-SFR3 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 8/11/2022 | 2000000 | 1770713 | 1903457  |
|  AMSR 2023-SFR1 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 2/22/2023 | 2000000 | 1654180 | 1840010  |
|  AMSR 2023-SFR2 F1 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 7/17/2023 | 5000000 | 3977702 | 4239903  |
|  AMSR 2023-SFR2 F2 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 7/17/2023 | 2000000 | 1523181 | 1633516  |
|  AMSR 2023-SRF2G G1 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 10/29/2024 | 7000000 | 6176450 | 5994911  |
|  AMSR 2024-SFR2 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 11/5/2024 | 5000000 | 4331080 | 4454750  |
|  Best Egg Asset Structured Pass Through Master Trust 2024-B (a)(b)(c) | &nbsp;&nbsp;&nbsp; 12/6/2024 | 14920 | 3491669 | 4978616  |
|  Best Egg Asset Structured Pass Through Master Trust 2025-A (a)(b)(c) | &nbsp;&nbsp;&nbsp; 1/16/2025 | 12564 | 1631511 | 2131737  |
|  Best Egg Asset Structured Pass Through Master Trust 2025-B (a)(b)(c) | &nbsp;&nbsp;&nbsp; 2/18/2025 | 12628 | 2266190 | 2761297  |
|  Best Egg Asset Structured Pass Through Master Trust 2025-C (a)(b)(c) | &nbsp;&nbsp;&nbsp; 3/14/2025 | 12392 | 1393440 | 1540358  |
|  Firstkey Homes 2021-SFR1 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 12/15/2022 | 2000000 | 1771887 | 1929145  |
|  Home Partners of America 2021-2 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 1/12/2023 | 2400210 | 2329172 | 2257329  |
|  Lendingpoint 2022-C Asset Securitization Trust (a)(b)(c) | &nbsp;&nbsp;&nbsp; 9/23/2022 | 3000000 | 2968200 | 952010  |
|  Marlette Funding Trust 2022-2 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 6/28/2022 | 1000000 | 984948 | 989920  |
|  Marlette Funding Trust 2023-3 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 7/18/2023 | 3840 | 284548 | 750627  |
|  Marlette Funding Trust 2025-03A (a)(b)(c) | &nbsp;&nbsp;&nbsp; 3/11/2025 | 45381210 | 45231452 | 45001751  |
|  Progress Re 2021-SFR10 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 11/19/2021 | 4328579 | 4328468 | 3812774  |
|  Progress Re 2022-SFR3 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 4/5/2022 | 3000000 | 2917628 | 2914572  |
|  Progress Re 2023-SFR2 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 9/19/2023 | 2000000 | 1807220 | 1869618  |
|  Progress Re 2024-SFR4 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 6/21/2024 | 3000000 | 2373618 | 2450485  |
|  Progress Re 2025-SFR1 E1 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 1/10/2025 | 2000000 | 1774956 | 1782504  |
|  Progress Re 2025-SFR1 E2 Trust (a)(b)(d) | &nbsp;&nbsp;&nbsp; 1/10/2025 | 4000000 | 3481921 | 3494796  |
|  Prosper Marketplace Issuance Trust Series 2023-1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 9/19/2023 | 3600000 | 3599464 | 3654838  |
|  Upgrade Master Credit Pass-Thru Trust Series 2021-ST3 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 5/27/2021 | 1419000 | 14882 | 11407  |
|  Upgrade Master Pass-Thru Trust Series 2023-PT1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 7/31/2023 | 16740165 | 16482726 | 15298912  |
|  Upstart Asset Trust I Series 2023-1-GS (a)(b)(c) | &nbsp;&nbsp;&nbsp; 12/5/2023 | 22907553 | 22241117 | 21883391  |
|  Upstart Pass-Through 2021-ST3 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 4/8/2021 | 2850000 | 475822 | 204420  |
|  Upstart Pass-Through 2021-ST4 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 5/13/2021 | 3060000 | 699946 | 252259  |
|  Upstart Pass-Through 2021-ST5 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 6/3/2021 | 1000000 | 384257  | 114334  |
|  Upstart Securitization Trust 2022-1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 10/30/2024 | 5000000 | 4999975 | 4890405  |
|  Upstart Securitization Trust 2022-2 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 4/1/2022 | 4200000 | 4146433 | 2338511  |
|  Upstart Securitization Trust 2022-3 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 5/26/2022 | 2851094 | 2836171 | 2473524  |
|  Upstart Securitization Trust 2022-4 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 6/29/2022 | 3600000 | 3529864 | 3385847  |
|  Upstart Securitization Trust 2023-2 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 8/16/2022 | 1214000 | 1213697 | 1174215  |
|  Upstart Securitization Trust 2024-1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 6/29/2023 | 2500000 | 2499800 | 2610133  |
|  Upstart Securitization Trust 2025-1 (a)(b)(c) | &nbsp;&nbsp;&nbsp; 4/23/2025 | 3500000 | 3449873 | 3449873  |
|  **TOTAL ASSET-BACKED SECURITIES (Cost $203,930,149)** |  |  |  | **202163608** |

---

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
|  **EVENT LINKED BONDS - 30.5% (e)** | **EVENT LINKED BONDS - 30.5% (e)** | **EVENT LINKED BONDS - 30.5% (e)** |
|  **Canada - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MMIFS Re 2025-1 Class A, 5.59% (CORRA + 2.82%), 01/10/2028 <br>(Acquired 1/8/2025 - 2/7/2025, Cost $1,697,434) (f)(g)(h) | CAD 2,438,000 | **1765069**  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **16** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
|  **Chile - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 131, 9.19% (SOFR + 4.79%), 03/31/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $5,021,701) (f)(g)(h) | $4992000 | $5050451  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maschpark Re 2024-1 Class A, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 01/10/2028 <br>(Acquired 11/26/2024, Cost $338,000) (f)(g)(h) | 338000 | 342088  |
|  |  | **5392539**  |
|  **Europe - 0.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Azzurro Re II DAC 2024-1 Class A, 8.63% (3 Month EURIBOR + 6.39%), 04/20/2028 <br>(Acquired 3/21/2024, Cost $1,021,594) (f)(g)(h) | EUR 941,000 | **1073076**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; King Max Re DAC, 7.28% (3 Month EURIBOR + 5.00%), 01/06/2027<br>(Acquired 12/8/2023, Cost $1,151,751) (f)(g)(h) | 1070000 | 1221453  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lion III Re DAC 2021-1, 6.41% (3 Month EURIBOR + 4.13%), 07/16/2025<br>(Acquired 6/30/2023, Cost $563,820) (f)(g)(h) | 518000 | 586942  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taranis Re DAC 2023-1 Class A, 10.44% (3 Month EURIBOR + 8.25%), 01/21/2028<br>(Acquired 11/29/2023, Cost $393,947) (f)(g)(h) | 359000 | 421138  |
|  |  | **2229533**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Sky Re DAC 2023-1, 8.32% (3 Month EURIBOR + 6.16%), 01/26/2027<br>(Acquired 12/11/2023, Cost $530,689) (f)(g)(h) | 493000 | 579646  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eiffel Re 2023-1 Class A, 5.82% (3 Month EURIBOR + 3.58%), 01/19/2027<br>(Acquired 6/22/2023 - 2/7/2025, Cost $2,079,276) (f)(g)(h) | 1917000 | 2185585  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexagon IV Re 2023-1 Class A, 10.39% (3 Month EURIBOR + 8.16%), 01/21/2028<br>(Acquired 11/7/2023, Cost $1,116,613) (f)(g)(h) | 1044000 | 1201306  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange Capital Re 2023-1 Class A, 9.79% (3 Month EURIBOR + 7.81%), 01/08/2027<br>(Acquired 11/17/2023, Cost $319,618) (f)(g)(h)(i) | 293000 | 336823  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quercus Re DAC, 10.18% (3 Month EURIBOR + 8.00%), 07/08/2027<br>(Acquired 7/15/2024, Cost $343,302) (f)(g)(h) | 315000 | 363775  |
|  |  | **4667135**  |
|  |  | **7969744**  |
|  **France - 0.0% (f)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Terrorism - 0.0% (f)**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Athena I Re DAC, 7.43% (3 Month EURIBOR + 5.25%), 01/21/2028 <br>(Acquired 11/21/2024, Cost $322,770) (f)(g)(h) | 308000 | **351110**  |
|  **Global - 2.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Cyber - 0.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; East Lane Re VII 2024-1 Class A, 13.53% (3 Month US Treasury Bill Rate + 9.25%), 03/31/2026 <br>(Acquired 12/20/2023, Cost $900,000) (f)(g)(h) | $900000 | 908993  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long Walk Re 2024-1 Class A, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 01/30/2026 <br>(Acquired 11/13/2023, Cost $482,000) (f)(g)(h) | 482000 | 487968  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2023-1 Class CYB-A, 16.28% (3 Month US Treasury Bill Rate + 12.00%), 01/08/2026 <br>(Acquired 12/22/2023 - 2/7/2025, Cost $2,700,449) (f)(g)(h) | 2698000 | 2744638  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PoleStar Re 2024-1 Class A, 17.28% (3 Month US Treasury Bill Rate + 13.00%), 01/07/2026 <br>(Acquired 12/13/2023 - 2/7/2025, Cost $1,781,388) (f)(g)(h) | 1776000 | 1810269  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PoleStar Re 2024-3 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 01/07/2028 <br>(Acquired 9/19/2024 - 2/7/2025, Cost $3,354,388) (f)(g)(h) | 3332000 | 3430752  |
|  |  | **9382620**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2025-1 Class B, 7.29% (3 Month US Treasury Bill Rate + 3.00%), 02/07/2028 <br>(Acquired 1/24/2025, Cost $1,029,000) (f)(g)(h) | 1029000 | 1029938  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **17** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.1% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.1% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.1% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashera Re 2024-1 Class A, 9.48% (3 Month US Treasury Bill Rate + 5.19%), 04/07/2027 <br>(Acquired 3/21/2024, Cost $758,000) (f)(g)(h) | $758000 | $765131  |
|  |  | **1795069**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 1.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2025-1 Class A, 25.54% (3 Month US Treasury Bill Rate + 21.25%), 02/07/2028 <br>(Acquired 1/24/2025, Cost $1,029,000) (f)(g)(h) | 1029000 | 1024537  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aragonite Re 2024-1 Class A, 9.54% (3 Month US Treasury Bill Rate + 5.25%), 04/07/2027 <br>(Acquired 3/25/2024, Cost $931,000) (f)(g)(h) | 931000 | 962269  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Capital 2022 DAC 2022-1 Class A, 14.22% (SOFR + 9.83%), 06/06/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $3,618,481) (f)(g)(h) | 3621000 | 3628242  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Capital DAC 2024-1 Class A, 16.88% (SOFR + 12.50%), 06/08/2027 <br>(Acquired 1/16/2025, Cost $298,324) (f)(g)(h) | 267000 | 295388  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Claveau Re 2021-1 Class A, 21.54% (3 Month US Treasury Bill Rate + 17.25%), 07/08/2025 <br>(Acquired 4/21/2023 - 7/7/2023, Cost $467,210) (f)(g)(h)(k) | 503508 | 264342  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2021-1 Class A, 22.58% (3 Month US Treasury Bill Rate + 18.30%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $138,938) (f)(g)(h)(k) | 142120 | 21318  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kendall Re 2024-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 04/30/2027 <br>(Acquired 4/22/2024 - 3/17/2025, Cost $2,797,398) (f)(g)(h) | 2738000 | 2855212  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class A-2, 16.64% (3 Month US Treasury Bill Rate + 12.36%), 04/20/2026 <br>(Acquired 4/21/2023, Cost $705,633) (f)(g)(h) | 782000 | 782948  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class B-2, 9.14% (3 Month US Treasury Bill Rate + 4.86%), 04/20/2026 <br>(Acquired 4/21/2023, Cost $331,080) (f)(g)(h) | 348000 | 348516  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2021-2 Class C-2, 8.84% (3 Month US Treasury Bill Rate + 4.56%), 04/20/2026 <br>(Acquired 4/21/2023, Cost $304,116) (f)(g)(h) | 319000 | 319530  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kilimanjaro III Re 2022-1 Class A, 10.13% (3 Month US Treasury Bill Rate + 5.85%), 06/25/2025 <br>(Acquired 4/21/2023, Cost $980,867) (f)(g)(h) | 985000 | 985720  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re 2025-1 Class A, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 02/04/2028 <br>(Acquired 1/24/2025, Cost $592,000) (f)(g)(h) | 592000 | 589300  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re 2025-1 Class B, 16.54% (3 Month US Treasury Bill Rate + 12.25%), 02/04/2028 <br>(Acquired 1/24/2025, Cost $904,000) (f)(g)(h) | 904000 | 900343  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2020-2 Class A, 1.50% (3 Month US Treasury Bill Rate + 1.50%), 01/08/2027 <br>(Acquired 4/21/2023, Cost $548,049) (f)(g)(h)(k) | 548049 | 438439  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matterhorn Re SR2021-1 Class A, 10.14% (SOFR + 5.75%), 12/08/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,163,400) (f)(g)(h) | 2219000 | 2175037  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montoya Re 2022-2 Class A, 18.07% (3 Month US Treasury Bill Rate + 13.78%), 04/07/2026 <br>(Acquired 12/5/2024, Cost $597,305) (f)(g)(h) | 571000 | 598161  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montoya Re 2025-1 Class A, 10.04% (3 Month US Treasury Bill Rate + 5.75%), 04/07/2028 <br>(Acquired 1/23/2025, Cost $265,000) (f)(g)(h) | 265000 | 262293  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northshore Re II 2022-1 Class A, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 07/08/2025 <br>(Acquired 1/19/2024 - 2/7/2025, Cost $1,361,775) (f)(g)(h) | 1360000 | 1360680  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northshore Re II 2025-1 Class A, 9.28% (3 Month US Treasury Bill Rate + 5.00%), 04/07/2028 <br>(Acquired 3/14/2025, Cost $1,893,000) (f)(g)(h) | 1893000 | 1885520  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ocelot Re 2025-1 Class A, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 02/26/2029 <br>(Acquired 2/14/2025, Cost $2,977,000) (f)(g)(h) | 2977000 | 2960616  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ocelot Re 2025-1 Class B, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 02/26/2029 <br>(Acquired 2/14/2025, Cost $438,000) (f)(g)(h) | 438000 | 434811  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wrigley Re 2023-1 Class A, 10.78% (3 Month US Treasury Bill Rate + 6.50%), 08/07/2026 <br>(Acquired 7/14/2023, Cost $640,000) (f)(g)(h) | 640000 | 654441  |
|  |  | **23747663**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Queen Street 2023 Re DAC, 11.78% (3 Month US Treasury Bill Rate + 7.50%), 12/08/2025 <br>(Acquired 5/12/2023 - 2/7/2025, Cost $2,259,844) (f)(g)(h) | 2251000 | 2252513  |
|  |  | **37177865**  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **18** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
|  **Great Britain - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Flood - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vision 2039 2025-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 04/06/2028 <br>(Acquired 3/10/2025, Cost $2,730,340) (f)(g)(h) | GBP 2,120,000 | **$2819363**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Terrorism - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltic PCC 2025-1 Class A, 10.18% (3 Month US Treasury Bill Rate + 5.90%), 04/06/2028 <br>(Acquired 3/24/2025, Cost $1,563,449) (f)(g)(h) | 1210000 | 1612560  |
|  |  | **4431923**  |
|  **Jamaica - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 136, 11.61% (SOFR + 7.19%), 12/29/2027 <br>(Acquired 4/25/2024 - 2/7/2025, Cost $4,108,867) (f)(g)(h) | $4103000 | **4111979**  |
|  **Japan - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kizuna Re III 2024-1 Class A, 7.04% (3 Month US Treasury Bill Rate + 2.75%), 04/09/2029 <br>(Acquired 3/13/2024, Cost $403,000) (f)(g)(h) | 403000 | 411221  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re 2023-1 Class 2, 8.11% (3 Month Term SOFR + 4.00%), 05/09/2028 <br>(Acquired 4/14/2023, Cost $667,000) (f)(g)(h) | 667000 | 682667  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re 2025-1 Class 1, 6.38% (3 Month US Treasury Bill Rate + 2.10%), 04/23/2030 <br>(Acquired 4/11/2025, Cost $582,000) (f)(g)(h) | 582000 | 581701  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re Pte. 2021-1 Class 1, 6.33% (3 Month US Treasury Bill Rate + 2.05%), 10/13/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $4,836,526) (f)(g)(h) | 4855000 | 4839493  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nakama Re Pte. 2021-1 Class 2, 7.03% (3 Month US Treasury Bill Rate + 2.75%), 10/13/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,980,051) (f)(g)(h) | 2013000 | 2013596  |
|  |  | **8528678**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Kite Re 2025-1 Class A, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 05/08/2028 <br>(Acquired 4/24/2025, Cost $516,000) (f)(g)(h) | 516000 | 515968  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2022-1 Class A-1, 6.37% (3 Month US Treasury Bill Rate + 2.09%), 04/07/2026 <br>(Acquired 7/25/2024, Cost $322,192) (f)(g)(h) | 322000 | 321575  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2024-1 Class A, 7.54% (3 Month US Treasury Bill Rate + 3.25%), 04/05/2028 <br>(Acquired 3/25/2024, Cost $1,009,000) (f)(g)(h) | 1009000 | 1013213  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tomoni Re Pte 2024-1 Class B, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 04/05/2028 <br>(Acquired 3/25/2024 - 2/7/2025, Cost $1,677,128) (f)(g)(h) | 1668000 | 1696263  |
|  |  | **3547019**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Typhoon - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Kite Re 2022-1 Class A, 11.10% (3 Month US Treasury Bill Rate + 6.82%), 06/09/2025 <br>(Acquired 4/21/2023, Cost $635,448) (f)(g)(h) | 637000 | 638978  |
|  |  | **12714675**  |
|  **Mexico - 0.5%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 0.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 132 Class A, 8.62% (SOFR + 4.22%), 04/24/2028 <br>(Acquired 4/3/2024 - 2/7/2025, Cost $3,688,507) (f)(g)(h) | 3677000 | 3738843  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 133 Class B, 15.62% (SOFR + 11.22%), 04/24/2028 <br>(Acquired 4/3/2024, Cost $983,000) (f)(g)(h) | 983000 | 985442  |
|  |  | **4724285**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 134 Class C, 18.10% (SOFR + 13.72%), 04/24/2028 <br>(Acquired 4/3/2024 - 2/7/2025, Cost $2,797,456) (f)(g)(h) | 2775000 | 2826556  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IBRD CAR 135 Class D, 16.60% (SOFR + 12.22%), 04/24/2028 <br>(Acquired 5/1/2024, Cost $901,000) (f)(g)(h) | 901000 | 950940  |
|  |  | **3777496**  |
|  |  | **8501781**  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **19** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
|  **New Zealand - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Totara Re Pte. 2023-1, 13.39%, 06/08/2027 <br>(Acquired 5/24/2023 - 2/7/2025, Cost $2,003,793) (f)(g)(h) | NZD 3,304,000 | $**2010990**  |
|  **United States - 25.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 4.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2023-1 Class A, 8.63% (3 Month US Treasury Bill Rate + 4.35%), 11/06/2026 <br>(Acquired 6/22/2023 - 2/7/2025, Cost $2,042,703) (f)(g)(h) | $2038000 | 2082838  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2024-1 Class A, 7.38% (3 Month US Treasury Bill Rate + 3.10%), 11/05/2027 <br>(Acquired 10/25/2024 - 2/7/2025, Cost $2,142,419) (f)(g)(h) | 2141000 | 2154378  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acorn Re 2024-1 Class B, 7.38% (3 Month US Treasury Bill Rate + 3.10%), 11/07/2025 <br>(Acquired 10/25/2024 - 3/12/2025, Cost $3,952,790) (f)(g)(h) | 3950000 | 3955319  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2022-1 Class A, 17.79% (3 Month US Treasury Bill Rate + 13.50%), 01/08/2027 <br>(Acquired 4/21/2023, Cost $306,105) (f)(g)(h) | 302000 | 324660  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sutter Re 2023-1 Class B, 11.03% (3 Month US Treasury Bill Rate + 6.75%), 06/19/2026 <br>(Acquired 6/6/2023 - 2/7/2025, Cost $3,651,772) (f)(g)(h) | 3626000 | 3719366  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sutter Re 2023-1 Class E, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 06/19/2026 <br>(Acquired 6/6/2023 - 2/7/2025, Cost $3,785,947) (f)(g)(h) | 3752000 | 3921799  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2022-1 Class A, 9.88% (3 Month US Treasury Bill Rate + 5.60%), 06/06/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $4,429,159) (f)(g)(h) | 4429000 | 4439654  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2022-1 Class B, 12.89% (3 Month US Treasury Bill Rate + 8.61%), 06/06/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,567,399) (f)(g)(h) | 2572000 | 2575965  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2023-1 Class A, 9.49% (3 Month US Treasury Bill Rate + 5.22%), 06/05/2026 <br>(Acquired 5/18/2023 - 2/7/2025, Cost $1,231,664) (f)(g)(h) | 1225000 | 1247658  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class A, 10.28% (3 Month US Treasury Bill Rate + 6.00%), 06/07/2027 <br>(Acquired 5/17/2024 - 2/7/2025, Cost $3,639,515) (f)(g)(h) | 3604000 | 3747643  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class B, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 06/07/2027 <br>(Acquired 5/17/2024 - 2/7/2025, Cost $2,462,961) (f)(g)(h) | 2446000 | 2548901  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2024-1 Class C, 13.28% (3 Month US Treasury Bill Rate + 9.00%), 06/05/2026 <br>(Acquired 5/17/2024, Cost $861,000) (f)(g)(h) | 861000 | 882608  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class A, 8.03% (3 Month US Treasury Bill Rate + 3.75%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $2,284,939) (f)(g)(h) | 2299000 | 2298993  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class B, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $2,543,832) (f)(g)(h) | 2559000 | 2558990  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Torrey Pines Re 2025-1 Class C, 10.78% (3 Month US Treasury Bill Rate + 6.50%), 06/07/2028 <br>(Acquired 4/25/2025, Cost $2,299,000) (f)(g)(h) | 2299000 | 2298986  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-1 Class AA, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 12/06/2025 <br>(Acquired 4/12/2023 - 4/21/2023, Cost $1,144,938) (f)(g)(h) | 1145000 | 1161985  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-1 Class C, 12.53% (3 Month US Treasury Bill Rate + 8.25%), 12/06/2025 <br>(Acquired 4/12/2023 - 4/21/2023, Cost $615,967) (f)(g)(h) | 616000 | 629046  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-2 Class E, 13.53% (3 Month US Treasury Bill Rate + 9.25%), 12/07/2026 <br>(Acquired 10/10/2023 - 2/7/2025, Cost $3,902,993) (f)(g)(h) | 3866000 | 4061351  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-3 Class AA, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 12/07/2026 <br>(Acquired 12/1/2023 - 2/7/2025, Cost $4,289,311) (f)(g)(h) | 4257000 | 4415243  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2023-3 Class D, 13.03% (3 Month US Treasury Bill Rate + 8.75%), 12/07/2026 <br>(Acquired 12/1/2023 - 2/7/2025, Cost $4,762,254) (f)(g)(h) | 4715000 | 4945771  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re 2025-1 Class F, 11.79% (3 Month US Treasury Bill Rate + 7.50%), 02/22/2028 <br>(Acquired 2/10/2025, Cost $4,974,000) (f)(g)(h) | 4974000 | 5010313  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-1 Class A, 9.28% (3 Month US Treasury Bill Rate + 5.00%), 06/16/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $3,124,515) (f)(g)(h) | 3127000 | 3127461  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-1 Class E, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/16/2025 <br>(Acquired 4/21/2023, Cost $403,854) (f)(g)(h) | 406000 | 406921  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ursa Re II 2022-2 Class C, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 12/06/2025 <br>(Acquired 9/5/2023, Cost $366,357) (f)(g)(h) | 361000 | 372802  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2023-1 Class A, 11.07% (3 Month US Treasury Bill Rate + 6.79%), 03/09/2026 <br>(Acquired 4/21/2023, Cost $638,417) (f)(g)(h) | 636000 | 655752  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **20** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 4.6% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 4.6% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Earthquake - 4.6% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2023-1 Class B, 16.92% (3 Month US Treasury Bill Rate + 12.63%), 03/09/2026 <br>(Acquired 4/21/2023, Cost $615,563) (f)(g)(h) | $611000 | $644275  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2024-1 Class A, 9.02% (3 Month US Treasury Bill Rate + 4.74%), 03/08/2027 <br>(Acquired 1/30/2024 - 2/7/2025, Cost $2,805,569) (f)(g)(h) | 2762000 | 2825660  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2025-1 Class A, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 03/08/2028 <br>(Acquired 1/30/2025 - 3/6/2025, Cost $5,185,948) (f)(g)(h) | 5186000 | 5161854  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veraison Re 2025-1 Class B, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 03/08/2028 <br>(Acquired 1/30/2025 - 2/7/2025, Cost $2,227,975) (f)(g)(h) | 2228000 | 2221856  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wrigley Re 2023-1 Class B, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 08/07/2026 <br>(Acquired 7/14/2023 - 2/7/2025, Cost $2,307,947) (f)(g)(h) | 2287000 | 2378752  |
|  |  | **76776800**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Fire - 0.1%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greengrove Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 04/07/2028 <br>(Acquired 3/19/2025, Cost $941,000) (f)(g)(h) | 941000 | **940063**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Flood - 0.8%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2022-1 Class B, 18.62% (3 Month US Treasury Bill Rate + 14.33%), 02/26/2029 <br>(Acquired 2/7/2025, Cost $295,471) (f)(g)(h)(k) | 296537 | 204254  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2023-1 Class A, 21.43% (3 Month US Treasury Bill Rate + 17.15%), 03/11/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $3,241,314) (f)(g)(h) | 3239000 | 3214707  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2023-1 Class B, 26.68% (3 Month US Treasury Bill Rate + 22.40%), 03/11/2026 <br>(Acquired 4/21/2023, Cost $463,420) (f)(g)(h) | 464000 | 346839  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2024-1 Class A, 18.29% (3 Month US Treasury Bill Rate + 14.00%), 03/12/2027 <br>(Acquired 2/29/2024 - 2/7/2025, Cost $7,603,154) (f)(g)(h) | 7531000 | 7716349  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FloodSmart Re 2024-1 Class B, 21.54% (3 Month US Treasury Bill Rate + 17.25%), 03/12/2027 <br>(Acquired 2/29/2024 - 2/7/2025, Cost $1,806,094) (f)(g)(h) | 1806000 | 1767427  |
|  |  | **13249576**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Mortality/Longevity/Disease - 0.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vita Capital VI 2021-1 Class B, 7.54% (SOFR + 3.12%), 01/08/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,642,907) (f)(g)(h)(k) | 2144000 | 0  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIII 2022 Class A, 6.29% (3 Month US Treasury Bill Rate + 2.00%), 01/06/2026 <br>(Acquired 4/21/2023, Cost $503,854) (f)(g)(h) | 509000 | 508678  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIII 2022 Class B, 7.04% (3 Month US Treasury Bill Rate + 2.75%), 01/06/2026 <br>(Acquired 9/27/2023 - 3/7/2024, Cost $610,946) (f)(g)(h) | 615000 | 615172  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XIV 2023 Class A, 7.78% (3 Month US Treasury Bill Rate + 3.50%), 01/05/2027 <br>(Acquired 3/7/2024 - 3/14/2024, Cost $964,716) (f)(g)(h) | 954000 | 978490  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XV 2024 Class A, 6.79% (3 Month US Treasury Bill Rate + 2.50%), 01/07/2028 <br>(Acquired 1/22/2024, Cost $556,000) (f)(g)(h) | 556000 | 561461  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XV 2024 Class B, 7.79% (3 Month US Treasury Bill Rate + 3.50%), 01/07/2028 <br>(Acquired 1/22/2024, Cost $380,000) (f)(g)(h) | 380000 | 386028  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XVI 2025 Class A, 6.04% (3 Month US Treasury Bill Rate + 1.75%), 01/08/2029 <br>(Acquired 1/23/2025, Cost $748,000) (f)(g)(h) | 748000 | 748056  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitality Re XVI 2025 Class C, 8.04% (3 Month US Treasury Bill Rate + 3.75%), 01/08/2029 <br>(Acquired 1/23/2025, Cost $365,000) (f)(g)(h) | 365000 | 365093  |
|  |  | **4162978**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2023-1 Class B-1, 12.55% (3 Month US Treasury Bill Rate + 8.27%), 06/08/2026 <br>(Acquired 5/10/2023, Cost $844,000) (f)(g)(h) | 844000 | 869288  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2023-1 Class C-1, 13.46% (3 Month US Treasury Bill Rate + 9.18%), 06/08/2026 <br>(Acquired 5/10/2023 - 2/24/2025, Cost $2,900,822) (f)(g)(h) | 2842000 | 2951241  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2024-1 Class A-1, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 06/07/2027 <br>(Acquired 4/26/2024, Cost $730,000) (f)(g)(h) | 730000 | 743598  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aquila Re I 2024-1 Class B-1, 13.28% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 4/26/2024 - 2/24/2025, Cost $1,000,488) (f)(g)(h) | 979000 | 1012770  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Re 2021-1 Class A, 6.33% (3 Month US Treasury Bill Rate + 2.04%), 07/07/2025 <br>(Acquired 9/5/2023 - 2/7/2025, Cost $2,484,487) (f)(g)(h) | 2488000 | 2484344  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **21** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Re 2023-1 Class A, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 07/07/2027 <br>(Acquired 6/21/2023, Cost $446,000) (f)(g)(h) | $446000 | $453328  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class A, 4.29% (3 Month US Treasury Bill Rate + 0.00%), 01/08/2026 <br>(Acquired 12/16/2024, Cost $415,263) (f)(g)(h) | 481000 | 390350  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class B, 8.04% (3 Month US Treasury Bill Rate + 3.75%), 12/19/2027 <br>(Acquired 12/16/2024, Cost $391,000) (f)(g)(h) | 391000 | 387548  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonanza Re 2024-1 Class C, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 12/19/2027 <br>(Acquired 12/16/2024 - 2/7/2025, Cost $1,968,572) (f)(g)(h) | 1969000 | 1970779  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowline Re 2022-1 Class A, 10.63% (3 Month US Treasury Bill Rate + 6.35%), 05/23/2025 <br>(Acquired 4/21/2023, Cost $347,079) (f)(g)(h) | 348000 | 348629  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowline Re 2022-1 Class B, 20.47% (3 Month US Treasury Bill Rate + 16.19%), 05/23/2025 <br>(Acquired 4/21/2023, Cost $318,191) (f)(g)(h) | 319000 | 320709  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bridge Street Re 2025-1 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 01/07/2028 <br>(Acquired 12/24/2024 - 2/7/2025, Cost $2,678,800) (f)(g)(h) | 2680000 | 2666609  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finca Re 2022-1 Class A, 12.54% (3 Month US Treasury Bill Rate + 8.26%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $405,268) (f)(g)(h) | 406000 | 407281  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Re 2023-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 01/08/2027 <br>(Acquired 12/19/2023 - 2/7/2025, Cost $1,941,857) (f)(g)(h) | 1934000 | 1962200  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2023-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 01/07/2027 <br>(Acquired 12/8/2023, Cost $433,000) (f)(g)(h) | 433000 | 439740  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2024-1 Class A, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 01/07/2028 <br>(Acquired 12/11/2024 - 2/7/2025, Cost $2,119,420) (f)(g)(h) | 2121000 | 2108321  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Lakes Re 2024-1 Class B, 12.54% (3 Month US Treasury Bill Rate + 8.25%), 01/07/2028 <br>(Acquired 12/11/2024, Cost $653,000) (f)(g)(h) | 653000 | 648638  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuchsia 2 2024-1 Class A, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 04/06/2028 <br>(Acquired 12/18/2024 - 2/7/2025, Cost $3,238,988) (f)(g)(h) | 3242000 | 3253187  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fuchsia 2023-1 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 04/06/2027 <br>(Acquired 12/14/2023, Cost $1,136,000) (f)(g)(h) | 1136000 | 1175457  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galileo Re 2023-1 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 01/07/2028 <br>(Acquired 12/4/2023 - 2/7/2025, Cost $2,324,150) (f)(g)(h) | 2304000 | 2367797  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galileo Re 2023-1 Class B, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 01/08/2026 <br>(Acquired 12/4/2023, Cost $568,000) (f)(g)(h) | 568000 | 569870  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class A, 11.54% (3 Month US Treasury Bill Rate + 7.25%), 01/08/2029 <br>(Acquired 12/17/2024, Cost $875,000) (f)(g)(h) | 875000 | 872930  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class B, 15.04% (3 Month US Treasury Bill Rate + 10.75%), 01/08/2029 <br>(Acquired 12/17/2024, Cost $875,000) (f)(g)(h) | 875000 | 889344  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herbie Re 2024-2 Class C, 27.29% (3 Month US Treasury Bill Rate + 23.00%), 01/08/2027 <br>(Acquired 12/17/2024, Cost $762,000) (f)(g)(h) | 762000 | 740173  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Point Re 2023-1 Class A, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 01/06/2027 <br>(Acquired 12/1/2023 - 2/7/2025, Cost $4,545,650) (f)(g)(h) | 4532000 | 4563887  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hypatia Ltd. 2023-1 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 04/08/2026 <br>(Acquired 4/21/2023, Cost $361,801) (f)(g)(h) | 362000 | 375050  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Locke Tavern Re 2023-1 Class A, 9.06% (3 Month US Treasury Bill Rate + 4.78%), 04/09/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,715,464) (f)(g)(h) | 1705000 | 1720076  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long Point Re IV 2022-1 Class A, 8.53% (3 Month US Treasury Bill Rate + 4.25%), 06/01/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $6,907,284) (f)(g)(h) | 6929000 | 6970574  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2022-2 Class A, 11.77% (3 Month US Treasury Bill Rate + 7.49%), 07/07/2025 <br>(Acquired 4/21/2023, Cost $854,983) (f)(g)(h) | 869000 | 873433  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2023-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 07/07/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,876,979) (f)(g)(h) | 1850000 | 1898518  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2023-2 Class A, 14.53% (3 Month US Treasury Bill Rate + 10.25%), 07/07/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,146,335) (f)(g)(h) | 2121000 | 2190430  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-1 Class A, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 07/07/2027 <br>(Acquired 5/8/2024 - 2/7/2025, Cost $2,696,974) (f)(g)(h) | 2675000 | 2761738  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-2 Class A, 13.03% (3 Month US Treasury Bill Rate + 8.75%), 07/07/2027 <br>(Acquired 5/8/2024 - 2/7/2025, Cost $3,446,645) (f)(g)(h) | 3410000 | 3524680  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **22** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merna Re II 2024-3 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 07/07/2027 <br>(Acquired 5/8/2024 - 2/7/2025, Cost $5,793,494) (f)(g)(h) | $5723000 | $5818617  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2021-1 Class A, 11.29% (3 Month US Treasury Bill Rate + 7.00%), 07/08/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,411,579) (f)(g)(h) | 2430000 | 2431215  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2024-1 Class A, 14.04% (3 Month US Treasury Bill Rate + 9.75%), 06/25/2027 <br>(Acquired 1/23/2025 - 2/13/2025, Cost $1,193,644) (f)(g)(h) | 1096000 | 1180696  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2025-1 Class A, 12.29% (3 Month US Treasury Bill Rate + 8.00%), 01/08/2029 <br>(Acquired 12/3/2024 - 2/7/2025, Cost $1,619,534) (f)(g)(h) | 1619000 | 1621918  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mona Lisa Re 2025-1 Class B, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 01/07/2028 <br>(Acquired 12/3/2024 - 2/7/2025, Cost $1,695,583) (f)(g)(h) | 1693000 | 1711315  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain Re 2023-1 Class A, 11.10% (3 Month US Treasury Bill Rate + 6.82%), 06/05/2026 <br>(Acquired 5/24/2023 - 3/5/2024, Cost $898,822) (f)(g)(h) | 892000 | 914122  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2023-1 Class A, 13.22% (3 Month US Treasury Bill Rate + 8.93%), 01/08/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,000,655) (f)(g)(h) | 1976000 | 2032326  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 01/10/2028 <br>(Acquired 12/17/2024, Cost $848,000) (f)(g)(h) | 848000 | 841786  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class B, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 01/10/2028 <br>(Acquired 12/17/2024, Cost $537,000) (f)(g)(h) | 537000 | 542081  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mystic Re IV 2025-1 Class C, 18.29% (3 Month US Treasury Bill Rate + 14.00%), 01/10/2028 <br>(Acquired 12/17/2024 - 2/7/2025, Cost $1,500,342) (f)(g)(h)(k) | 1748000 | 742900  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico Parametric Re 2024-1 Class A, 9.00% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 6/14/2024, Cost $368,000) (f)(g)(h) | 368000 | 376285  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 11, 14.21% (3 Month US Treasury Bill Rate + 9.93%), 06/06/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,778,190) (f)(g)(h)(k) | 1906000 | 47745  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 12, 9.79% (3 Month US Treasury Bill Rate + 5.51%), 06/06/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,382,935) (f)(g)(h) | 1458000 | 510300  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 13, 8.16% (3 Month US Treasury Bill Rate + 3.88%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $690,531) (f)(g)(h) | 695000 | 625569  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2021-I Class 14, 6.99% (3 Month US Treasury Bill Rate + 2.71%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $893,845) (f)(g)(h) | 898000 | 888417  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 11, 16.79% (3 Month US Treasury Bill Rate + 12.51%), 06/06/2026 <br>(Acquired 4/21/2023, Cost $369,726) (f)(g)(h)(k) | 406000 | 10170  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 12, 12.07% (3 Month US Treasury Bill Rate + 7.79%), 06/06/2026 <br>(Acquired 4/21/2023, Cost $536,559) (f)(g)(h) | 579000 | 202650  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 13, 9.82% (3 Month US Treasury Bill Rate + 5.54%), 06/06/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,198,958) (f)(g)(h) | 2346000 | 2023308  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2022-I Class 14, 8.49% (3 Month US Treasury Bill Rate + 4.21%), 06/06/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,766,247) (f)(g)(h) | 2858000 | 2711406  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-I Class 13, 15.44% (3 Month US Treasury Bill Rate + 11.16%), 06/06/2027 <br>(Acquired 4/28/2023 - 2/7/2025, Cost $2,491,150) (f)(g)(h) | 2758000 | 896350  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-I Class 14, 10.81% (3 Month US Treasury Bill Rate + 6.53%), 06/06/2027 <br>(Acquired 4/28/2023 - 2/7/2025, Cost $4,609,250) (f)(g)(h) | 4611000 | 4502088  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-II Class 3, 12.70% (3 Month US Treasury Bill Rate + 8.42%), 12/06/2027 <br>(Acquired 11/7/2023, Cost $1,105,000) (f)(g)(h) | 1105000 | 1131702  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2023-II Class 5, 10.20% (3 Month US Treasury Bill Rate + 5.92%), 12/06/2027 <br>(Acquired 11/7/2023 - 2/7/2025, Cost $3,253,244) (f)(g)(h) | 3232000 | 3316995  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-I Class 14, 10.03% (3 Month US Treasury Bill Rate + 5.75%), 06/06/2028 <br>(Acquired 4/25/2024, Cost $651,000) (f)(g)(h) | 651000 | 624956  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 2, 17.53% (3 Month US Treasury Bill Rate + 13.25%), 12/06/2028 <br>(Acquired 11/4/2024, Cost $706,000) (f)(g)(h) | 706000 | 735450  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 3, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 12/06/2028 <br>(Acquired 11/4/2024 - 2/7/2025, Cost $2,372,038) (f)(g)(h) | 2361000 | 2400043  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Re 2024-II Class 4, 9.53% (3 Month US Treasury Bill Rate + 5.25%), 12/06/2028 <br>(Acquired 11/4/2024 - 2/7/2025, Cost $1,915,496) (f)(g)(h) | 1910000 | 1935833  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riverfront Re 2025 Class A, 9.78% (3 Month US Treasury Bill Rate + 5.50%), 01/08/2029 <br>(Acquired 4/21/2025, Cost $1,457,000) (f)(g)(h) | 1457000 | 1456911  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **23** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 8.3% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sakura Re 2022-1 Class A, 17.79% (3 Month US Treasury Bill Rate + 13.50%), 01/05/2026 <br>(Acquired 4/21/2023, Cost $682,686) (f)(g)(h) | $685000 | $710935  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2024-3 Class A, 8.29% (3 Month US Treasury Bill Rate + 4.00%), 04/07/2029 <br>(Acquired 12/10/2024 - 2/7/2025, Cost $3,588,799) (f)(g)(h) | 3588000 | 3529250  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2024-3 Class B, 9.54% (3 Month US Treasury Bill Rate + 5.25%), 04/07/2029 <br>(Acquired 12/10/2024 - 2/7/2025, Cost $3,658,058) (f)(g)(h) | 3661000 | 3641137  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class A, 8.28% (3 Month US Treasury Bill Rate + 4.00%), 04/07/2028 <br>(Acquired 3/13/2025, Cost $2,268,000) (f)(g)(h) | 2268000 | 2263126  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class A-2, 8.53% (3 Month US Treasury Bill Rate + 4.25%), 04/08/2030 <br>(Acquired 3/13/2025, Cost $1,988,000) (f)(g)(h) | 1988000 | 1985885  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class B-1, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 04/07/2028 <br>(Acquired 3/13/2025, Cost $1,305,000) (f)(g)(h) | 1305000 | 1302035  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re II 2025-1 Class B-2, 9.03% (3 Month US Treasury Bill Rate + 4.75%), 04/08/2030 <br>(Acquired 3/13/2025, Cost $3,914,000) (f)(g)(h) | 3914000 | 3909759  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-1 Class A, 7.69% (3 Month US Treasury Bill Rate + 3.41%), 04/07/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $3,338,298) (f)(g)(h) | 3403000 | 3350359  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-1 Class B, 14.88% (3 Month US Treasury Bill Rate + 10.60%), 04/07/2026 <br>(Acquired 4/21/2023, Cost $749,817) (f)(g)(h) | 811000 | 777236  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-2 Class A, 10.73% (3 Month US Treasury Bill Rate + 6.45%), 06/07/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,009,178) (f)(g)(h) | 2013000 | 2013503  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-2 Class B, 12.74% (3 Month US Treasury Bill Rate + 8.46%), 06/07/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,746,399) (f)(g)(h) | 1749000 | 1751189  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2022-3 Class A, 10.56% (3 Month US Treasury Bill Rate + 6.27%), 04/07/2027 <br>(Acquired 4/21/2023, Cost $610,703) (f)(g)(h) | 604000 | 619797  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-1 Class A, 9.83% (3 Month US Treasury Bill Rate + 5.55%), 04/07/2027 <br>(Acquired 4/21/2023, Cost $416,219) (f)(g)(h) | 415000 | 422887  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-1 Class B, 19.78% (3 Month US Treasury Bill Rate + 15.50%), 04/07/2027 <br>(Acquired 4/21/2023, Cost $516,860) (f)(g)(h) | 518000 | 530820  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2023-2 Class A, 12.42% (3 Month US Treasury Bill Rate + 8.14%), 06/05/2026 <br>(Acquired 5/24/2023 - 2/7/2025, Cost $3,861,439) (f)(g)(h) | 3802000 | 3933144  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanders Re III 2024-1 Class A, 10.04% (3 Month US Treasury Bill Rate + 5.75%), 04/07/2028 <br>(Acquired 1/16/2024 - 2/7/2025, Cost $3,194,601) (f)(g)(h) | 3167000 | 3269033  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solomon Re 2023-1 Class A, 9.80% (3 Month US Treasury Bill Rate + 5.52%), 06/08/2026 <br>(Acquired 6/12/2023, Cost $402,000) (f)(g)(h) | 402000 | 410314  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stabilitas Re 2023-1 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 06/05/2026 <br>(Acquired 12/20/2024 - 2/7/2025, Cost $1,462,705) (f)(g)(h) | 1415000 | 1452739  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titania Re 2024-1 Class A, 10.53% (3 Month US Treasury Bill Rate + 6.25%), 11/26/2027 <br>(Acquired 11/14/2024, Cost $1,081,000) (f)(g)(h) | 1081000 | 1083678  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titania Re 2024-1 Class B, 13.78% (3 Month US Treasury Bill Rate + 9.50%), 11/26/2027 <br>(Acquired 11/14/2024, Cost $1,023,000) (f)(g)(h) | 1023000 | 1023728  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Topanga Re 2021-1 Class A, 9.34% (3 Month US Treasury Bill Rate + 5.05%), 01/08/2026 <br>(Acquired 4/21/2023, Cost $781,711) (f)(g)(h) | 811000 | 745106  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Re 2022-1 Class A, 18.77% (3 Month US Treasury Bill Rate + 14.49%), 05/21/2025 <br>(Acquired 4/21/2023, Cost $520,223) (f)(g)(h) | 521000 | 524079  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yosemite Re 2022-1 Class A, 14.87% (3 Month US Treasury Bill Rate + 10.60%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $577,799) (f)(g)(h) | 579000 | 583343  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yosemite Re 2025-1 Class A, 11.53% (3 Month US Treasury Bill Rate + 7.25%), 06/07/2028 <br>(Acquired 3/18/2025, Cost $1,112,000) (f)(g)(h) | 1112000 | 1108788  |
|  |  | **138087541**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 Re 2024-1 Class B, 22.29% (3 Month US Treasury Bill Rate + 18.00%), 07/08/2027 <br>(Acquired 6/24/2024, Cost $367,000) (f)(g)(h) | 367000 | 383589  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2022-1 Class A, 11.80% (3 Month US Treasury Bill Rate + 7.52%), 06/07/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $2,918,070) (f)(g)(h) | 2916000 | 2924328  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2023-1 Class A, 12.67% (3 Month US Treasury Bill Rate + 8.39%), 06/07/2026 <br>(Acquired 4/12/2023 - 2/7/2025, Cost $6,367,575) (f)(g)(h) | 6334000 | 6493867  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **24** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class A, 10.29% (3 Month US Treasury Bill Rate + 6.00%), 06/07/2027 <br>(Acquired 4/4/2024 - 3/12/2025, Cost $8,619,408) (f)(g)(h) | $8519000 | $8788861  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class B, 12.04% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2027 <br>(Acquired 4/4/2024 - 2/7/2025, Cost $9,454,229) (f)(g)(h) | 9383000 | 9782669  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alamo Re 2024-1 Class C, 15.53% (3 Month US Treasury Bill Rate + 11.25%), 06/07/2026 <br>(Acquired 4/4/2024 - 2/7/2025, Cost $7,671,896) (f)(g)(h) | 7588000 | 7889099  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armor Re II 2024-1 Class A, 14.53% (3 Month US Treasury Bill Rate + 10.25%), 05/07/2027 <br>(Acquired 4/11/2024 - 2/7/2025, Cost $2,617,571) (f)(g)(h) | 2589000 | 2697886  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armor Re II 2024-2 Class A, 12.79% (3 Month US Treasury Bill Rate + 8.50%), 01/07/2028 <br>(Acquired 12/11/2024, Cost $1,051,000) (f)(g)(h) | 1051000 | 1055449  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Astro Re 2021-1 Class A, 13.04% (3 Month US Treasury Bill Rate + 8.75%), 07/08/2025 <br>(Acquired 4/21/2023, Cost $405,736) (f)(g)(h)(k) | 417000 | 271050  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2023-1 Class A, 17.19% (3 Month US Treasury Bill Rate + 12.91%), 05/26/2026 <br>(Acquired 5/11/2023 - 2/7/2025, Cost $1,777,690) (f)(g)(h) | 1708000 | 1797257  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2023-1 Class B, 23.98% (3 Month US Treasury Bill Rate + 19.70%), 05/26/2026 <br>(Acquired 5/11/2023 - 2/7/2025, Cost $1,734,368) (f)(g)(h) | 1709000 | 1827581  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2024-1 Class A, 12.78% (3 Month US Treasury Bill Rate + 8.50%), 04/30/2027 <br>(Acquired 4/18/2024 - 2/7/2025, Cost $2,481,004) (f)(g)(h) | 2456000 | 2601060  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2024-1 Class B, 22.78% (3 Month US Treasury Bill Rate + 18.50%), 04/30/2027 <br>(Acquired 4/18/2024, Cost $623,000) (f)(g)(h) | 623000 | 681080  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayou Re 2025-1 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 05/08/2028 <br>(Acquired 4/21/2025, Cost $2,137,000) (f)(g)(h) | 2137000 | 2139136  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Ridge Re 2023-1 Class A, 9.53% (3 Month US Treasury Bill Rate + 5.25%), 01/08/2027 <br>(Acquired 11/14/2023 - 2/7/2025, Cost $3,494,636) (f)(g)(h) | 3484000 | 3571750  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Ridge Re 2023-1 Class B, 7.99% (3 Month US Treasury Bill Rate + 7.99%), 01/08/2027 <br>(Acquired 11/14/2023 - 2/7/2025, Cost $4,270,948) (f)(g)(h) | 4241000 | 4349553  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2023-1 Class A, 12.70% (3 Month US Treasury Bill Rate + 8.42%), 04/28/2026 <br>(Acquired 4/14/2023 - 2/7/2025, Cost $8,081,376) (f)(g)(h) | 8036000 | 8209541  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2024-1 Class A, 12.99% (3 Month US Treasury Bill Rate + 8.70%), 04/05/2027 <br>(Acquired 3/12/2024 - 2/7/2025, Cost $8,414,461) (f)(g)(h) | 8342000 | 8433941  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cape Lookout Re 2025-1 Class A, 11.18% (3 Month US Treasury Bill Rate + 6.90%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $8,297,000) (f)(g)(h) | 8297000 | 8326039  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catahoula Re II 2022-1 Class A, 15.52% (3 Month US Treasury Bill Rate + 11.24%), 06/16/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,823,170) (f)(g)(h) | 1822000 | 1834751  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catahoula Re II 2022-1 Class B, 17.64% (3 Month US Treasury Bill Rate + 13.36%), 06/16/2025 <br>(Acquired 4/21/2023, Cost $923,944) (f)(g)(h) | 927000 | 936549  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charles River Re 2024-1 Class A, 11.04% (3 Month US Treasury Bill Rate + 6.75%), 05/10/2027 <br>(Acquired 4/5/2024 - 2/7/2025, Cost $1,814,416) (f)(g)(h) | 1805000 | 1831762  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2022-1 Class A, 9.34% (3 Month US Treasury Bill Rate + 5.06%), 06/09/2025 <br>(Acquired 4/21/2023, Cost $722,595) (f)(g)(h) | 724000 | 725218  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2023-1 Class A, 10.87% (3 Month US Treasury Bill Rate + 6.59%), 06/07/2026 <br>(Acquired 4/27/2023 - 2/7/2025, Cost $1,179,292) (f)(g)(h) | 1170000 | 1194758  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2023-1 Class B, 13.05% (3 Month US Treasury Bill Rate + 8.77%), 06/07/2026 <br>(Acquired 4/27/2023, Cost $719,000) (f)(g)(h) | 719000 | 742113  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2024-1 Class A, 13.54% (3 Month US Treasury Bill Rate + 9.25%), 06/07/2027 <br>(Acquired 3/19/2024, Cost $395,000) (f)(g)(h) | 395000 | 409569  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2024-1 Class B, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 06/07/2027 <br>(Acquired 3/19/2024, Cost $762,000) (f)(g)(h) | 762000 | 788286  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2028 <br>(Acquired 3/5/2025, Cost $1,032,000) (f)(g)(h) | 1032000 | 1026725  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citrus Re 2025-1 Class B, 8.78% (3 Month US Treasury Bill Rate + 4.50%), 06/07/2028 <br>(Acquired 3/5/2025, Cost $875,000) (f)(g)(h) | 875000 | 871698  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Re 2023-1 Class A, 8.55% (3 Month US Treasury Bill Rate + 4.27%), 07/08/2026 <br>(Acquired 6/7/2023 - 2/7/2025, Cost $1,183,940) (f)(g)(h) | 1178000 | 1190369  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 05/13/2027 <br>(Acquired 5/15/2024 - 2/7/2025, Cost $5,801,940) (f)(g)(h) | 5738000 | 6005695  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **25** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class B, 15.78% (3 Month US Treasury Bill Rate + 11.50%), 05/13/2027 <br>(Acquired 5/15/2024 - 2/7/2025, Cost $5,919,425) (f)(g)(h) | $5842000 | $6090045  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Everglades Re II 2024-1 Class C, 17.03% (3 Month US Treasury Bill Rate + 12.75%), 05/13/2027 <br>(Acquired 5/15/2024 - 2/7/2025, Cost $4,040,657) (f)(g)(h) | 4000000 | 4157350  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Coast Re IV 2025-1 Class B, 11.78% (3 Month US Treasury Bill Rate + 7.50%), 03/10/2028 <br>(Acquired 2/21/2025, Cost $335,000) (f)(g)(h) | 335000 | 333995  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fish Pond Re 2024-1 Class A, 8.30% (3 Month US Treasury Bill Rate + 4.02%), 01/08/2027 <br>(Acquired 12/22/2023 - 2/7/2025, Cost $1,692,518) (f)(g)(h) | 1686000 | 1722450  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2022-1 Class A, 13.56% (3 Month US Treasury Bill Rate + 9.28%), 05/12/2025 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,760,979) (f)(g)(h) | 1761000 | 1760125  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-1 Class A, 18.24% (3 Month US Treasury Bill Rate + 13.96%), 02/24/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $3,149,263) (f)(g)(h) | 3102000 | 3248940  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-1 Class B, 24.68% (3 Month US Treasury Bill Rate + 20.40%), 02/24/2026 <br>(Acquired 4/21/2023, Cost $405,764) (f)(g)(h) | 408000 | 426797  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2023-3 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 07/08/2026 <br>(Acquired 7/14/2023, Cost $752,000) (f)(g)(h) | 752000 | 749386  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2024-1 Class AA, 9.79% (3 Month US Treasury Bill Rate + 5.50%), 07/08/2027 <br>(Acquired 3/11/2024 - 2/7/2025, Cost $1,654,333) (f)(g)(h) | 1648000 | 1657610  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 07/07/2028 <br>(Acquired 2/12/2025, Cost $539,000) (f)(g)(h) | 539000 | 536821  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class AA, 4.28% (3 Month US Treasury Bill Rate), 12/22/2025 <br>(Acquired 2/12/2025, Cost $1,377,770) (f)(g)(h) | 1459000 | 1370272  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class AAA, 8.54% (3 Month US Treasury Bill Rate + 4.25%), 07/07/2028 <br>(Acquired 2/12/2025, Cost $888,000) (f)(g)(h) | 888000 | 881337  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class C1, 4.28% (3 Month US Treasury Bill Rate), 12/22/2025 <br>(Acquired 2/12/2025, Cost $946,990) (f)(g)(h) | 1014000 | 932767  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-1 Class C2, 13.79% (3 Month US Treasury Bill Rate + 9.50%), 07/07/2027 <br>(Acquired 2/12/2025, Cost $3,235,000) (f)(g)(h) | 3235000 | 3218100  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re 2025-2 Class A, 11.28% (3 Month US Treasury Bill Rate + 7.00%), 07/07/2028 <br>(Acquired 3/21/2025, Cost $1,299,000) (f)(g)(h) | 1299000 | 1295684  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gateway Re II 2023-1 Class A, 13.18% (3 Month US Treasury Bill Rate + 8.90%), 04/27/2026 <br>(Acquired 4/13/2023 - 4/21/2023, Cost $1,099,941) (f)(g)(h) | 1100000 | 1127445  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Genesee Street Re 2025-1 Class A, 7.53% (3 Month US Treasury Bill Rate + 3.25%), 04/07/2028 <br>(Acquired 4/28/2025, Cost $1,928,000) (f)(g)(h) | 1928000 | 1928000  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2022-1 Class A, 14.36% (3 Month US Treasury Bill Rate + 10.08%), 04/22/2029 <br>(Acquired 2/7/2025, Cost $93,362) (f)(g)(h)(k) | 93886 | 39901  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2025-1 Class A, 11.03% (3 Month US Treasury Bill Rate + 6.75%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $2,451,000) (f)(g)(h) | 2451000 | 2436794  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hestia Re 2025-1 Class B, 12.53% (3 Month US Treasury Bill Rate + 8.25%), 03/13/2028 <br>(Acquired 2/27/2025, Cost $1,131,000) (f)(g)(h) | 1131000 | 1123358  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2022-1 Class A, 11.11% (3 Month US Treasury Bill Rate + 6.83%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $777,458) (f)(g)(h)(k) | 782000 | 97750  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2023-1 Class A, 17.14% (3 Month US Treasury Bill Rate + 12.86%), 06/06/2025 <br>(Acquired 4/21/2023, Cost $672,551) (f)(g)(h) | 674000 | 680317  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class A, 14.79% (3 Month US Treasury Bill Rate + 10.50%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $764,000) (f)(g)(h) | 764000 | 763045  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class B, 17.54% (3 Month US Treasury Bill Rate + 13.25%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $436,000) (f)(g)(h) | 436000 | 435019  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class C, 21.29% (3 Month US Treasury Bill Rate + 17.00%), 06/06/2026 <br>(Acquired 3/1/2024, Cost $764,000) (f)(g)(h) | 764000 | 782191  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re 2024-1 Class D, 27.29% (3 Month US Treasury Bill Rate + 23.00%), 06/06/2026 <br>(Acquired 3/1/2024 - 2/7/2025, Cost $1,538,669) (f)(g)(h) | 1554000 | 1496411  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class A-1, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 06/06/2027 <br>(Acquired 2/21/2025, Cost $302,000) (f)(g)(h) | 302000 | 299850  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class A-2, 12.28% (3 Month US Treasury Bill Rate + 8.00%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $661,000) (f)(g)(h) | 661000 | 656616  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **26** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **PAR** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **Windstorm - 11.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class B-2, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $535,000) (f)(g)(h) | $535000 | $530774  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class C, 16.53% (3 Month US Treasury Bill Rate + 12.25%), 06/06/2028 <br>(Acquired 2/21/2025, Cost $1,637,000) (f)(g)(h) | 1637000 | 1631265  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Re III 2025-1 Class D, 29.78% (3 Month US Treasury Bill Rate + 25.50%), 06/06/2027 <br>(Acquired 2/21/2025, Cost $1,008,000) (f)(g)(h) | 1008000 | 990440  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lightning Re 2023-1 Class A, 15.28% (3 Month US Treasury Bill Rate + 11.00%), 03/31/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $9,732,441) (f)(g)(h) | 9452000 | 9702478  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Longleaf Pine Re 2024-1 Class A, 21.78% (3 Month US Treasury Bill Rate + 17.50%), 05/25/2027 <br>(Acquired 5/10/2024 - 2/7/2025, Cost $2,347,348) (f)(g)(h) | 2307000 | 2424609  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Ferry Re 2023-1 Class A, 8.71% (3 Month US Treasury Bill Rate + 4.43%), 07/08/2026 <br>(Acquired 6/23/2023, Cost $586,000) (f)(g)(h) | 586000 | 592823  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Ferry Re 2023-1 Class B, 9.55% (3 Month US Treasury Bill Rate + 5.27%), 07/08/2026 <br>(Acquired 6/23/2023 - 2/7/2025, Cost $2,401,484) (f)(g)(h) | 2392000 | 2432037  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2023-1 Class A, 4.69% (3 Month US Treasury Bill Rate + 4.69%), 07/08/2026 <br>(Acquired 6/26/2023 - 2/7/2025, Cost $1,410,005) (f)(g)(h) | 1404000 | 1422906  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2023-1 Class B, 10.29% (3 Month US Treasury Bill Rate + 6.02%), 07/08/2026 <br>(Acquired 6/26/2023 - 2/7/2025, Cost $4,670,179) (f)(g)(h) | 4639000 | 4729460  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mayflower Re 2024-1 Class A, 4.50% (3 Month US Treasury Bill Rate + 4.50%), 07/08/2027 <br>(Acquired 6/21/2024, Cost $955,000) (f)(g)(h) | 955000 | 976386  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2023-1 Class A, 14.28% (3 Month US Treasury Bill Rate + 10.00%), 12/07/2026 <br>(Acquired 11/16/2023 - 2/7/2025, Cost $2,258,839) (f)(g)(h) | 2252000 | 2268297  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2023-1 Class B, 17.78% (3 Month US Treasury Bill Rate + 13.50%), 12/07/2026 <br>(Acquired 11/16/2023, Cost $624,000) (f)(g)(h) | 624000 | 638883  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2024-1 Class A, 19.04% (3 Month US Treasury Bill Rate + 14.75%), 06/07/2028 <br>(Acquired 6/17/2024, Cost $686,000) (f)(g)(h) | 686000 | 749977  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2025-1 Class A, 14.04% (3 Month US Treasury Bill Rate + 9.75%), 01/16/2029 <br>(Acquired 12/27/2024 - 2/7/2025, Cost $3,044,254) (f)(g)(h) | 3047000 | 3041156  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nature Coast Re 2025-2 Class A, 14.03% (3 Month US Treasury Bill Rate + 9.75%), 04/10/2029 <br>(Acquired 3/28/2025, Cost $845,000) (f)(g)(h) | 845000 | 842542  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Re 2024-1 Class A, 13.79% (3 Month US Treasury Bill Rate + 9.50%), 06/07/2027 <br>(Acquired 4/4/2024 - 2/7/2025, Cost $1,848,355) (f)(g)(h) | 1828000 | 1901222  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Re 2025-1 Class A, 12.03% (3 Month US Treasury Bill Rate + 7.75%), 06/07/2028 <br>(Acquired 4/1/2025, Cost $1,817,000) (f)(g)(h) | 1817000 | 1812286  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pelican IV Re 2021-1 Class B, 4.78% (3 Month US Treasury Bill Rate + 0.50%), 05/07/2027 <br>(Acquired 4/21/2023, Cost $360,147) (f)(g)(h)(k) | 377000 | 19  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2023-1 Class A, 17.14% (1 Month Term SOFR + 12.81%), 04/24/2026 <br>(Acquired 4/21/2023 - 2/7/2025, Cost $1,307,454) (f)(g)(h) | 1292000 | 1336159  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2023-2 Class A, 14.78% (3 Month US Treasury Bill Rate + 10.50%), 06/05/2026 <br>(Acquired 6/27/2023 - 2/7/2025, Cost $1,197,176) (f)(g)(h) | 1188000 | 1221958  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Re 2024-1 Class A, 13.29% (3 Month US Treasury Bill Rate + 9.00%), 06/07/2027 <br>(Acquired 4/2/2024 - 2/7/2025, Cost $4,703,799) (f)(g)(h) | 4679000 | 4764860  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recoletos Re DAC 2024-1 Class A, 9.29% (3 Month US Treasury Bill Rate + 5.00%), 01/07/2028 <br>(Acquired 12/9/2024, Cost $969,000) (f)(g)(h) | 969000 | 964974  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabine Re 2024-1 Class A, 12.54% (3 Month US Treasury Bill Rate + 8.25%), 04/07/2027 <br>(Acquired 3/26/2024, Cost $726,000) (f)(g)(h) | 726000 | 742615  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2024-1 Class A, 14.54% (3 Month US Treasury Bill Rate + 10.25%), 02/26/2027 <br>(Acquired 2/14/2024 - 2/7/2025, Cost $1,753,120) (f)(g)(h) | 1734000 | 1818099  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2024-1 Class B, 16.04% (3 Month US Treasury Bill Rate + 11.75%), 02/26/2027 <br>(Acquired 2/14/2024, Cost $562,000) (f)(g)(h) | 562000 | 585904  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winston Re 2025-1 Class A, 10.79% (3 Month US Treasury Bill Rate + 6.50%), 02/21/2028 <br>(Acquired 2/6/2025, Cost $1,430,000) (f)(g)(h) | 1430000 | 1426088  |
|  |  | **189577822**  |
|  |  | **422794780**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL EVENT LINKED BONDS (Cost $510,546,969)** |  | **507222455** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **27** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE**  |
|  **INVESTMENT COMPANIES - 2.2%**<br>|  |  |
|  **Open-End Mutual Funds - 2.2%**<br>|  |  |
|  Stone Ridge Art Risk Premium Fund (l) | 1766604 | $18567004  |
|  Stone Ridge High Yield Reinsurance Risk Premium Fund - Class I (l) | 2002760 | 17784506  |
|  **TOTAL INVESTMENT COMPANIES (Cost $36,880,123)** |  | **36351510** |

---

---

| | | |
|:---|:---|:---|
|  | **Par** | **VALUE**  |
|  **PARTICIPATION NOTES (e) - 2.3%**<br>|  |  |
|  **Global - 2.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 2.3%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2022-1 Class A (Acquired 4/21/2023, Cost $17,265) (f)(g)(h)(k)(m)(n) | $20352 | 10465  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2022-1 Class B (Acquired 4/21/2023, Cost $16,226) (f)(g)(h)(k)(m)(n) | 18588 | 11754  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2023-1 Class B (Acquired 7/7/2023, Cost $20,240) (f)(g)(h)(k)(m) | 19431 | 215123  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2024-1 Class B (Acquired 12/20/2023, Cost $17,778) (f)(g)(h)(k)(m)(n) | 17778 | 881901  |
| &nbsp;&nbsp;&nbsp;&nbsp; Eden Re II 2025-1 Class B (Acquired 12/16/2024 - 2/7/2025, Cost $8,463,808) (f)(g)(h)(k)(m)(n) | 8546000 | 8307139  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2023-Dec Class GL-R (Acquired 12/8/2023, Cost $644) (g)(h)(k) | 644 | 14359  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2024-Apr Class GL-R (Acquired 4/29/2024, Cost $36,551) (g)(h)(k) | 36551 | 1456213  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sector Re V Series 2024-Dec Class GL-R (Acquired 12/5/2024 - 2/7/2025, Cost $27,019,178) (g)(h)(k)(n) | 27014400 | 27702617  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PARTICIPATION NOTES (Cost $35,591,690)** |  | **38599571** |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
|  **PREFERENCE SHARES (e) - 3.6%**<br>|  |  |
|  **Global - 3.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Multiperil - 3.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Longleaf (Artex Segregated Account Company) (Acquired 7/7/2023, Cost $35,082,000) (g)(h)(k)(m)(n) | 35082 | 60146279  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PREFERENCE SHARES (Cost $35,082,000)** |  | **60146279** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  **PURCHASED OPTIONS - 0.4%** | **PURCHASED OPTIONS - 0.4%** | **PURCHASED OPTIONS - 0.4%** | **PURCHASED OPTIONS - 0.4%** |
|  **Call Options - 0.0% (j)**<br>|  |  |  |
|  Soybean Meal, Expires 05/23/2025; Strike Price: $300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | $5960000 | 87427  |
|  Soybean Meal, Expires 06/20/2025; Strike Price: $300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 2980000 | 71291  |
|  Soybean Meal, Expires 06/20/2025; Strike Price: $305.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 2980000 | 54251  |
|  Soybean Meal, Expires 06/20/2025; Strike Price: $310.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 2980000 | 42931  |
|  **TOTAL CALL OPTIONS (Cost $255,900)** |  |  | **255900**  |
|  **Put Options - 0.3%**<br>|  |  |  |
|  S&P 500 Index, Expires 05/12/2025; Strike Price: $4,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 55690600 | 11250  |
|  S&P 500 Index, Expires 05/16/2025; Strike Price: $4,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | 83535900 | 105000  |
|  S&P 500 Index, Expires 05/22/2025; Strike Price: $3,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 210 | 116950260 | 25725  |
|  S&P 500 Index, Expires 05/29/2025; Strike Price: $3,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | 194917100 | 66500  |
|  S&P 500 Index, Expires 12/18/2026; Strike Price: $4,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126 | 70170156 | 1446480  |
|  S&P 500 Index, Expires 12/18/2026; Strike Price: $4,050.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | 66828720 | 1444200  |
|  S&P 500 Index, Expires 12/18/2026; Strike Price: $4,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 55690600 | 1261500  |
|  S&P 500 Index, Expires 12/18/2026; Strike Price: $4,125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 55690600 | 1294500  |
|  Soybean Meal, Expires 06/20/2025; Strike Price: $280.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 2980000 | 20791  |
|  Soybean Meal, Expires 06/20/2025; Strike Price: $285.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 2980000 | 32291  |
|  Wheat Future, Expires 05/23/2025; Strike Price: $510.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | ">265,375 | 3312  |
|  |  |  | **5711549** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **28** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **COUNTERPARTY** |  |  |
|  **OTC Put Options - 0.1%**<br>|  |  |  |
|  AUD/JPY, Expires: 5/23/2025, Strike Price: $84.25 | Barclays | 100000000 | 52398  |
|  AUD/JPY, Expires: 6/16/2025, Strike Price: $88.00 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 120000000 | 640779  |
|  |  |  | **693177**  |
|  **TOTAL PUT OPTIONS (Cost $9,742,158)** |  |  | **6404726**  |
|  **TOTAL PURCHASED OPTIONS (Cost $9,998,058)** |  |  | **6660626** |

---

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE**  |
|  **SHORT-TERM INVESTMENTS - 39.1%**<br>|  |  |
|  **Money Market Funds - 5.0%**<br>|  |  |
|  First American Government Obligations Fund - Class X 4.32% (o) | 41761808 | 41761808  |
|  Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class 4.31% (o) | 41761808 | 41761808  |
|  |  | **83523616** |

---

---

| | | |
|:---|:---|:---|
|  | **Par** | **VALUE**  |
|  **U.S. Treasury Bills - 34.1%**<br>|  |  |
|  4.39%, 08/07/2025 (p)(q) | $36000000 | 35590693  |
|  3.99%, 09/04/2025 (p)(q) | 39000000 | 38436105  |
|  4.16%, 10/02/2025 (p)(q) | 23000000 | 22598933  |
|  4.34%, 10/30/2025 (p)(q) | 21000000 | 20572132  |
|  4.23%, 11/28/2025 (p)(q) | 84000000 | 82078768  |
|  4.17%, 12/26/2025 (p)(q) | 33000000 | 32160593  |
|  4.14%, 01/22/2026 (p)(q) | 69000000 | 67064851  |
|  4.08%, 02/19/2026 (p)(q) | 35000000 | 33923609  |
|  3.96%, 03/19/2026 (p)(q) | 148000000 | 143044636  |
|  3.91%, 04/16/2026 (p)(q) | 95000000 | 91585317  |
|  |  | **567055637**  |
|  **TOTAL SHORT-TERM INVESTMENTS (Cost $650,182,805)** |  | **650579253** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **29** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
|  **WHOLE LOANS - 4.6%** | **WHOLE LOANS - 4.6%** | **WHOLE LOANS - 4.6%** | **WHOLE LOANS - 4.6%** | **WHOLE LOANS - 4.6%** | **WHOLE LOANS - 4.6%** |
|  **Consumer Loans - 3.4%** | **Consumer Loans - 3.4%** | **Consumer Loans - 3.4%** | **Consumer Loans - 3.4%** | **Consumer Loans - 3.4%** | **Consumer Loans - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 185222071.SRDLC, 14.19%, 2/9/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2022 | $1175  | $1175  | $105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185241731.SRDLC, 18.49%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 6185  | 6185  | 6223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185262514.SRDLC, 27.99%, 2/23/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 1599  | 1599  | 143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185537602.SRDLC, 11.49%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 17372  | 17372  | 17206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185539968.SRDLC, 23.99%, 11/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 4086  | 4086  | 4053  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185710985.SRDLC, 9.49%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 6083  | 6083  | 6015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185780292.SRDLC, 21.49%, 2/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 1880  | 1880  | 1865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185783823.SRDLC, 11.19%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 4361  | 4361  | 4293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185805124.SRDLC, 12.49%, 3/21/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 4910  | 4910  | 439  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185818512.SRDLC, 12.74%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 17415  | 17415  | 17229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185884862.SRDLC, 30.49%, 6/22/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 1480  | 1480  | 132  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185890987.SRDLC, 16.49%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3760  | 3760  | 336  |
| &nbsp;&nbsp;&nbsp;&nbsp; 185947404.SRDLC, 16.74%, 2/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 24181  | 24181  | 2162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186002006.SRDLC, 5.94%, 5/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2022 | 219  | 219  | 219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186008277.SRDLC, 17.94%, 2/23/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 15382  | 15382  | 1375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186016502.SRDLC, 14.19%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 11450  | 11450  | 11358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186029660.SRDLC, 6.59%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 11753  | 11753  | 11501  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186036790.SRDLC, 7.44%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 14361  | 14361  | 14238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186038736.SRDLC, 10.49%, 2/25/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 2659  | 2659  | 238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186063949.SRDLC, 4.99%, 2/10/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 1284  | 1284  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186083977.SRDLC, 10.24%, 2/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 4026  | 4026  | 917  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186086541.SRDLC, 24.99%, 2/11/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 3329  | 3329  | 3288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186089886.SRDLC, 16.94%, 7/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2022 | 11770  | 11770  | 1052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186092349.SRDLC, 15.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2022 | 8995  | 8995  | 8929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186096639.SRDLC, 7.59%, 2/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 16037  | 16037  | 15892  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186098721.SRDLC, 12.24%, 2/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 14237  | 14237  | 14144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186106808.SRDLC, 23.49%, 2/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 4229  | 4229  | 378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186107208.SRDLC, 18.49%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 6711  | 6711  | 6747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186116099.SRDLC, 18.19%, 2/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2022 | 3791  | 3791  | 3762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186119250.SRDLC, 16.19%, 6/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 318  | 318  | 318  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186124468.SRDLC, 9.34%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5493  | 5493  | 5418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186126018.SRDLC, 19.99%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 4276  | 4276  | 4319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186127839.SRDLC, 15.19%, 2/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 2987  | 2987  | 2966  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186131293.SRDLC, 15.19%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 6447  | 6447  | 6486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186133242.SRDLC, 9.34%, 2/11/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 2027  | 2027  | 181  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186135953.SRDLC, 19.99%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 3983  | 3983  | 4025  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186137516.SRDLC, 23.49%, 2/11/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 12637  | 12637  | 12794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186137950.SRDLC, 4.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 11152  | 11152  | 10903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186139447.SRDLC, 20.44%, 3/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 25871  | 25871  | 24973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186143484.SRDLC, 18.44%, 3/12/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1145  | 1145  | 102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186144333.SRDLC, 6.59%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 5733  | 5733  | 5684  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186147186.SRDLC, 18.49%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 2881  | 2881  | 2894  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186152237.SRDLC, 18.49%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 6660  | 6660  | 6702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186156292.SRDLC, 14.49%, 2/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2022 | 7233  | 7233  | 7178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186161317.SRDLC, 23.19%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 10430  | 10430  | 10513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186163058.SRDLC, 20.44%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 2925  | 2925  | 2900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186165363.SRDLC, 7.59%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 4112  | 4112  | 4077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186165439.SRDLC, 8.74%, 5/14/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 683  | 683  | 177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186170688.SRDLC, 9.49%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 8449  | 8449  | 8346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186178681.SRDLC, 22.99%, 7/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 884  | 884  | 879  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **30** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 186188347.SRDLC, 15.24%, 2/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | $4994  | $4994  | $446  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186205905.SRDLC, 8.59%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 5840  | 5840  | 5769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186208596.SRDLC, 4.99%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 12678  | 12678  | 12392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186211572.SRDLC, 14.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 2319  | 2319  | 2305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186219997.SRDLC, 6.99%, 2/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 15654  | 15654  | 1399  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186222490.SRDLC, 17.19%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2022 | 18722  | 18722  | 18594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186223918.SRDLC, 7.59%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 7401  | 7401  | 7337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186226030.SRDLC, 23.49%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2022 | 5095  | 5095  | 5190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186262246.SRDLC, 23.99%, 10/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 23711  | 23711  | 2120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186263527.SRDLC, 15.94%, 2/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 18147  | 18147  | 1823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186271799.SRDLC, 20.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/17/2022 | 10736  | 10736  | 10780  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186290975.SRDLC, 16.49%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 2783  | 2783  | 2766  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186291079.SRDLC, 28.99%, 2/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 9219  | 9219  | 9826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186295500.SRDLC, 14.69%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 12410  | 12410  | 12444  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186296041.SRDLC, 7.59%, 2/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 4718  | 4718  | 4680  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186310528.SRDLC, 24.99%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 12447  | 12447  | 12376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186314710.SRDLC, 28.99%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2022 | 6440  | 6440  | 6806  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186316064.SRDLC, 23.99%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 3310  | 3310  | 3278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186329289.SRDLC, 7.09%, 2/17/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 1346  | 1346  | 120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186330289.SRDLC, 30.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2908  | 2929  | 2938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186330563.SRDLC, 9.84%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13347  | 13347  | 13183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186333355.SRDLC, 12.99%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5426  | 5426  | 485  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186340276.SRDLC, 16.99%, 3/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 5188  | 5188  | 464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186341316.SRDLC, 9.74%, 2/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 8479  | 8479  | 8378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186342803.SRDLC, 18.44%, 2/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 3671  | 3671  | 328  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186345496.SRDLC, 18.19%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 16596  | 16596  | 16477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186352548.SRDLC, 8.49%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 2485  | 2485  | 2472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186355122.SRDLC, 23.99%, 2/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 5080  | 5080  | 5160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186356520.SRDLC, 20.49%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 15215  | 15215  | 15183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186365788.SRDLC, 23.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 16207  | 16207  | 16346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186365957.SRDLC, 30.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 7296  | 7307  | 7671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186366745.SRDLC, 22.49%, 2/17/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2022 | 5160  | 5160  | 461  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186367313.SRDLC, 6.59%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 16230  | 16230  | 15871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186368614.SRDLC, 23.99%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 10319  | 10319  | 10523  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186376281.SRDLC, 7.09%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 10589  | 10589  | 10503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186381065.SRDLC, 13.99%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 15570  | 15570  | 1392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186388985.SRDLC, 4.99%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 11876  | 11876  | 11624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186390394.SRDLC, 23.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 7619  | 7618  | 7768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186404263.SRDLC, 20.99%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 5086  | 5086  | 5083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186406480.SRDLC, 14.19%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13398  | 13397  | 1198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186410723.SRDLC, 13.24%, 2/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 3895  | 3895  | 348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186414924.SRDLC, 7.59%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 11102  | 11102  | 11016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186422320.SRDLC, 21.49%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2022 | 7470  | 7470  | 7569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186422693.SRDLC, 14.19%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 10357  | 10357  | 10303  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186430295.SRDLC, 19.94%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5327  | 5327  | 5375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186430834.SRDLC, 15.24%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13148  | 13148  | 13073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186431339.SRDLC, 11.52%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13441  | 13441  | 13568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186432025.SRDLC, 30.49%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 3681  | 3723  | 3869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186435948.SRDLC, 13.49%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 18035  | 18035  | 17750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186443751.SRDLC, 27.99%, 7/17/2024 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 11300  | 11447  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186444854.SRDLC, 18.49%, 2/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 4057  | 4057  | 4093  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186445485.SRDLC, 30.99%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3398  | 3422  | 3644  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **31** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 186445568.SRDLC, 17.49%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | $18808  | $18808  | $18677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186448116.SRDLC, 17.99%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5673  | 5673  | 5705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186449199.SRDLC, 23.99%, 3/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 11191  | 11191  | 11291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186450406.SRDLC, 18.19%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13981  | 13981  | 13900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186451093.SRDLC, 5.59%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5188  | 5188  | 5078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186455794.SRDLC, 14.19%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 14047  | 14047  | 13943  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186457043.SRDLC, 9.49%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 2028  | 2028  | 2004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186465186.SRDLC, 7.59%, 2/23/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 13336  | 13336  | 1192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186475599.SRDLC, 7.74%, 2/22/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 10586  | 10586  | 946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186481362.SRDLC, 14.94%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 5449  | 5449  | 5481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186484216.SRDLC, 9.63%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 13000  | 13000  | 13101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186499500.SRDLC, 7.09%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 13230  | 13230  | 13090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186500893.SRDLC, 19.99%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 10858  | 10927  | 11281  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186507209.SRDLC, 9.74%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 16957  | 16957  | 16761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186512499.SRDLC, 5.00%, 2/23/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 4753  | 4753  | 4761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186517183.SRDLC, 30.99%, 3/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 5607  | 5680  | 501  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186525066.SRDLC, 6.49%, 4/9/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 6031  | 6031  | 539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186527225.SRDLC, 18.49%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2022 | 9514  | 9514  | 9602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186535728.SRDLC, 9.63%, 2/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 12344  | 12344  | 12447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186552069.SRDLC, 14.99%, 2/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 18243  | 18243  | 18130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186552397.SRDLC, 10.54%, 7/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 528  | 528  | 528  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186560731.SRDLC, 13.49%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 10736  | 10736  | 10608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186561715.SRDLC, 22.99%, 6/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 2302  | 2302  | 206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186571697.SRDLC, 10.00%, 6/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 759  | 759  | 755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186572822.SRDLC, 9.49%, 3/13/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 5624  | 5624  | 503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186573934.SRDLC, 17.69%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2022 | 3768  | 3768  | 3790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186576309.SRDLC, 17.99%, 2/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 5503  | 5503  | 5460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186604983.SRDLC, 8.49%, 7/9/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 1540  | 1540  | 1533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186609833.SRDLC, 16.49%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 10020  | 10020  | 10085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186611261.SRDLC, 23.49%, 2/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 4494  | 4494  | 402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186627742.SRDLC, 9.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 12770  | 12770  | 12600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186630251.SRDLC, 18.99%, 8/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2022 | 4142  | 4142  | 770  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186636012.SRDLC, 22.99%, 3/25/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 268  | 268  | 24  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186638846.SRDLC, 14.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 5460  | 5460  | 5435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186647083.SRDLC, 21.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 10299  | 10299  | 10442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186647860.SRDLC, 17.94%, 3/8/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 2226  | 2226  | 199  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186652442.SRDLC, 22.99%, 2/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 7280  | 7280  | 651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186663937.SRDLC, 30.49%, 6/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2022 | 7913  | 7913  | 707  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186669127.SRDLC, 11.52%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 18198  | 18198  | 18232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186675548.SRDLC, 5.00%, 3/31/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 754  | 754  | 746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186681238.SRDLC, 30.99%, 3/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 5957  | 6034  | 533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186682233.SRDLC, 12.74%, 9/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 14833  | 14833  | 2262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186682717.SRDLC, 30.49%, 3/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 5229  | 5297  | 1554  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186685210.SRDLC, 10.99%, 2/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 6450  | 6450  | 6374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186694143.SRDLC, 5.59%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 5192  | 5192  | 5084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186695293.SRDLC, 10.24%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 4444  | 4444  | 4382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186697817.SRDLC, 8.44%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4770  | 4770  | 4724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186699230.SRDLC, 27.49%, 9/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 16560  | 16560  | 1481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186703239.SRDLC, 9.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 17016  | 17016  | 16825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186712916.SRDLC, 17.44%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/2/2022 | 7509  | 7509  | 7563  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186716052.SRDLC, 14.49%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 5169  | 5169  | 5123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186732927.SRDLC, 4.99%, 3/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 17203  | 17203  | 11019  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **32** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 186752739.SRDLC, 12.69%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | $5050  | $5050  | $5073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186754103.SRDLC, 30.99%, 3/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 4014  | 4066  | 359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186758530.SRDLC, 20.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 8265  | 8265  | 8259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186759602.SRDLC, 30.99%, 3/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 12133  | 12288  | 1085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186759667.SRDLC, 8.99%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 10094  | 10094  | 9951  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186761684.SRDLC, 24.49%, 3/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 8445  | 8555  | 755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186766384.SRDLC, 17.19%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 3402  | 3402  | 3363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186767172.SRDLC, 25.99%, 3/8/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 837  | 848  | 75  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186776862.SRDLC, 12.74%, 3/2/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 9779  | 9779  | 874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186784874.SRDLC, 12.54%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 968  | 981  | 87  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186787670.SRDLC, 30.99%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 5374  | 5444  | 480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186788217.SRDLC, 15.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 3383  | 3383  | 3352  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186792901.SRDLC, 14.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 3783  | 3783  | 3742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186797391.SRDLC, 30.99%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 5550  | 5590  | 5891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186799571.SRDLC, 5.00%, 3/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2022 | 6399  | 6399  | 6385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186804749.SRDLC, 5.00%, 3/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 107  | 107  | 106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186805633.SRDLC, 18.49%, 6/16/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 813  | 823  | 73  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186810869.SRDLC, 24.99%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 5283  | 5283  | 472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186816681.SRDLC, 12.99%, 5/3/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 1524  | 1524  | 184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186820218.SRDLC, 13.19%, 3/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 10926  | 10926  | 11008  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186820799.SRDLC, 26.49%, 10/14/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2077  | 2104  | 186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186824468.SRDLC, 9.49%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 7919  | 7919  | 7813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186825061.SRDLC, 9.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 15040  | 15040  | 14826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186834062.SRDLC, 5.59%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 12498  | 12498  | 12202  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186836967.SRDLC, 12.69%, 3/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3943  | 3943  | 353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186838683.SRDLC, 11.24%, 3/20/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 5147  | 5147  | 460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186839002.SRDLC, 24.49%, 3/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 4240  | 4295  | 379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186841662.SRDLC, 25.99%, 3/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 24111  | 24425  | 2156  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186842521.SRDLC, 16.19%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 1531  | 1531  | 137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186843869.SRDLC, 25.74%, 9/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 1808  | 1832  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186850090.SRDLC, 30.99%, 3/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 5896  | 5973  | 527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186853537.SRDLC, 30.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 11331  | 11400  | 11983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186855159.SRDLC, 23.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 13299  | 13299  | 13503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186856510.SRDLC, 30.99%, 5/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 1613  | 1634  | 144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186857181.SRDLC, 30.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 7046  | 7094  | 7470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186859612.SRDLC, 23.49%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 12063  | 12063  | 12213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186860250.SRDLC, 30.99%, 3/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 5038  | 5103  | 450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186861655.SRDLC, 20.49%, 3/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 3387  | 3387  | 303  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186862002.SRDLC, 22.49%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 9702  | 9702  | 9698  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186863025.SRDLC, 27.49%, 2/18/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 5120  | 5187  | 490  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186864141.SRDLC, 24.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 10658  | 10714  | 11224  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186870252.SRDLC, 30.99%, 3/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 4568  | 4628  | 408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186876529.SRDLC, 21.99%, 8/3/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 7565  | 7565  | 676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186878387.SRDLC, 10.49%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 10257  | 10257  | 10113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186878812.SRDLC, 30.24%, 3/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 6497  | 6542  | 6913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186880718.SRDLC, 30.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 6951  | 7002  | 7405  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186882814.SRDLC, 9.74%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 5310  | 5310  | 5235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186883462.SRDLC, 20.49%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6849  | 6938  | 612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186884409.SRDLC, 30.99%, 3/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2022 | 1975  | 2001  | 177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186887274.SRDLC, 13.99%, 3/20/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3311  | 3311  | 296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186887684.SRDLC, 23.99%, 7/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 6046  | 6046  | 6058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186887816.SRDLC, 5.00%, 3/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 133  | 133  | 132  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **33** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 186890838.SRDLC, 9.49%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | $3168  | $3168  | $3123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186890975.SRDLC, 18.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 11922  | 11922  | 11946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186892953.SRDLC, 9.69%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 9706  | 9706  | 9570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186894964.SRDLC, 19.99%, 3/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 7766  | 7816  | 8039  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186898646.SRDLC, 30.99%, 2/4/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 6346  | 6429  | 567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186900684.SRDLC, 15.99%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 11973  | 11973  | 11848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186903091.SRDLC, 7.59%, 3/22/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 2847  | 2847  | 255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186905651.SRDLC, 6.00%, 3/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 3928  | 3972  | 3995  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186906144.SRDLC, 30.49%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 962  | 975  | 86  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186907056.SRDLC, 28.99%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 823  | 823  | 833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186910060.SRDLC, 30.99%, 3/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2022 | 5070  | 5136  | 4051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186917027.SRDLC, 10.00%, 10/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3273  | 3313  | 3223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186919095.SRDLC, 13.19%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 12016  | 12016  | 12068  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186921775.SRDLC, 30.99%, 2/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3517  | 3563  | 314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186923282.SRDLC, 9.59%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3455  | 3455  | 309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186923646.SRDLC, 20.49%, 3/9/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 1759  | 1782  | 157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186927765.SRDLC, 18.99%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 2424  | 2424  | 217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186929069.SRDLC, 23.49%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 3721  | 3721  | 3768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186930176.SRDLC, 30.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 5641  | 5641  | 5992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186930238.SRDLC, 17.99%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 4196  | 4250  | 375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186935363.SRDLC, 30.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2022 | 8495  | 8556  | 9094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186938222.SRDLC, 18.49%, 8/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1457  | 1476  | 130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186938697.SRDLC, 30.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4814  | 4836  | 5141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186939170.SRDLC, 15.99%, 8/14/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 728  | 737  | 268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186943871.SRDLC, 30.99%, 3/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1812  | 1836  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186946979.SRDLC, 17.99%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 995  | 1008  | 89  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186948516.SRDLC, 29.74%, 6/2/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1052  | 1065  | 842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186952065.SRDLC, 17.99%, 3/13/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1820  | 1844  | 163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186952838.SRDLC, 30.99%, 3/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3995  | 4047  | 357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186953189.SRDLC, 18.99%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 9472  | 9472  | 847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186958321.SRDLC, 30.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4518  | 4549  | 4810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186958654.SRDLC, 14.49%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 4464  | 4464  | 4418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186959040.SRDLC, 16.99%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 2697  | 2708  | 2672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186960205.SRDLC, 6.59%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 8963  | 8963  | 801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186963432.SRDLC, 5.59%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 4973  | 4973  | 4857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186963965.SRDLC, 21.49%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3069  | 3089  | 3173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186966989.SRDLC, 30.99%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3229  | 3271  | 289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186967519.SRDLC, 10.19%, 3/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 7688  | 7688  | 1886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186968317.SRDLC, 14.69%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 22027  | 22027  | 1969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186969110.SRDLC, 30.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 5822  | 5864  | 6218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186969754.SRDLC, 21.99%, 3/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 6999  | 7047  | 7157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186969770.SRDLC, 27.49%, 1/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 4128  | 4181  | 4364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186969924.SRDLC, 17.19%, 3/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 15262  | 15262  | 15108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186972144.SRDLC, 22.99%, 3/16/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 1376  | 1375  | 123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186973856.SRDLC, 11.19%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 10294  | 10294  | 10335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186975112.SRDLC, 5.00%, 3/22/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2609  | 2609  | 2618  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186975831.SRDLC, 27.49%, 3/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 6866  | 6955  | 614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186977311.SRDLC, 22.99%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3205  | 3226  | 3366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186977592.SRDLC, 27.49%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 3278  | 3301  | 3502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186978254.SRDLC, 8.99%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 17478  | 17478  | 17234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186979291.SRDLC, 26.49%, 3/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 3102  | 3143  | 277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186980962.SRDLC, 30.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 8453  | 8513  | 9005  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **34** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 186981038.SRDLC, 30.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | $3384  | $3405  | $3604  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186984103.SRDLC, 12.69%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 6015  | 6015  | 6041  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186985079.SRDLC, 30.99%, 3/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 8854  | 8969  | 7077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186987081.SRDLC, 30.99%, 3/20/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 5523  | 5595  | 494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186991595.SRDLC, 28.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 13467  | 13467  | 14204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186994916.SRDLC, 6.59%, 4/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 10082  | 10082  | 9876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186995154.SRDLC, 15.99%, 3/16/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 446  | 452  | 40  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186995899.SRDLC, 24.99%, 6/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/9/2022 | 585  | 593  | 119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 186996360.SRDLC, 30.99%, 8/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 547  | 547  | 552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187002010.SRDLC, 17.99%, 6/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 612  | 620  | 260  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187004337.SRDLC, 14.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 13924  | 13924  | 13641  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187012069.SRDLC, 30.99%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 3774  | 3823  | 337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187013586.SRDLC, 5.99%, 3/8/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 4073  | 4073  | 364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187014518.SRDLC, 9.69%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 15533  | 15533  | 15307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187017395.SRDLC, 28.99%, 10/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 9715  | 9774  | 10368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187019293.SRDLC, 29.99%, 9/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 12327  | 12327  | 8950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187022209.SRDLC, 30.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 4104  | 4149  | 4354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187024503.SRDLC, 30.99%, 3/20/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 3756  | 3805  | 336  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187031324.SRDLC, 27.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 5493  | 5531  | 5846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187033106.SRDLC, 17.99%, 3/8/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 2843  | 2880  | 254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187033122.SRDLC, 7.09%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 11451  | 11451  | 11323  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187037256.SRDLC, 23.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 6314  | 6314  | 6393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187037815.SRDLC, 25.99%, 3/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 10423  | 10559  | 932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187039708.SRDLC, 21.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 2563  | 2580  | 2649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187040123.SRDLC, 30.99%, 3/21/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 9897  | 10026  | 885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187040321.SRDLC, 21.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 8282  | 8282  | 8303  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187040621.SRDLC, 23.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4186  | 4186  | 4244  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187040626.SRDLC, 9.34%, 3/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 5775  | 5775  | 5691  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187040937.SRDLC, 30.99%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3432  | 3477  | 307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187042692.SRDLC, 11.89%, 3/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 26668  | 26668  | 2384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187044456.SRDLC, 28.49%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2022 | 4648  | 4684  | 4933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187045971.SRDLC, 7.09%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 6351  | 6351  | 6284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187047990.SRDLC, 30.99%, 3/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 4995  | 5060  | 447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187048685.SRDLC, 6.59%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 6296  | 6296  | 6150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187050428.SRDLC, 22.49%, 3/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 3117  | 3137  | 3223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187062738.SRDLC, 27.99%, 10/29/2024 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 11063  | 11063  | 989  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187063469.SRDLC, 11.34%, 3/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 9029  | 9029  | 8905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187064351.SRDLC, 20.74%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 12114  | 12114  | 12540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187064981.SRDLC, 5.00%, 3/11/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 3915  | 3915  | 3132  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187065183.SRDLC, 15.49%, 8/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 1333  | 1349  | 1332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187066092.SRDLC, 30.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 3462  | 3488  | 3689  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187067030.SRDLC, 21.99%, 3/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 6639  | 6639  | 1058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187067662.SRDLC, 15.74%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 16142  | 16142  | 16007  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187070240.SRDLC, 21.49%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 6103  | 6103  | 6131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187073409.SRDLC, 9.59%, 3/10/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 5530  | 5530  | 494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187074059.SRDLC, 22.49%, 3/9/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 2199  | 2228  | 197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187076024.SRDLC, 12.19%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 11851  | 11851  | 11916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187077933.SRDLC, 11.19%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 4483  | 4483  | 4500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187081426.SRDLC, 30.99%, 3/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2022 | 8495  | 8536  | 9044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187083049.SRDLC, 19.49%, 3/11/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 1648  | 1670  | 147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187084131.SRDLC, 25.49%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 3931  | 3957  | 4188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187085796.SRDLC, 27.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 6550  | 6595  | 6980  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **35** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187094773.SRDLC, 19.99%, 3/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | $2195  | $2223  | $196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187095146.SRDLC, 17.49%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 14845  | 14845  | 14871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187103577.SRDLC, 28.99%, 3/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 1929  | 1929  | 172  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187103780.SRDLC, 28.99%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 3330  | 3353  | 3550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187105908.SRDLC, 30.99%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 9401  | 9523  | 840  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187112294.SRDLC, 27.49%, 6/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 3708  | 3755  | 3936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187113627.SRDLC, 28.49%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 3943  | 3970  | 4222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187114091.SRDLC, 8.59%, 3/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 15191  | 15191  | 14992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187116136.SRDLC, 12.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 12468  | 12468  | 12366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187116827.SRDLC, 7.59%, 3/11/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 5461  | 5461  | 488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187120238.SRDLC, 28.49%, 3/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2022 | 1222  | 1238  | 218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187125272.SRDLC, 9.99%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 4429  | 4429  | 4369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187129496.SRDLC, 30.99%, 4/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2022 | 11276  | 11276  | 11800  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187134949.SRDLC, 30.24%, 3/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2022 | 16983  | 17203  | 1518  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187137324.SRDLC, 25.99%, 3/11/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 930  | 930  | 83  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187142957.SRDLC, 6.59%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 7968  | 7968  | 7790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187143408.SRDLC, 12.34%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 18282  | 18282  | 18058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187143516.SRDLC, 22.99%, 11/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 2838  | 2875  | 965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187145522.SRDLC, 14.99%, 10/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 6469  | 6469  | 6403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187146211.SRDLC, 6.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 6375  | 6375  | 6228  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187153068.SRDLC, 30.99%, 3/29/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 4373  | 4430  | 391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187156154.SRDLC, 26.99%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 12000  | 12156  | 1073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187156876.SRDLC, 10.19%, 3/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 5631  | 5631  | 5555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187158857.SRDLC, 20.99%, 3/26/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 1312  | 1329  | 117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187161193.SRDLC, 22.99%, 8/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2022 | 810  | 821  | 648  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187162945.SRDLC, 24.49%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 5260  | 5296  | 5575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187163955.SRDLC, 18.74%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2674  | 2691  | 2772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187170600.SRDLC, 23.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 10523  | 10593  | 11157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187171712.SRDLC, 22.99%, 3/14/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2203  | 2232  | 197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187172125.SRDLC, 30.99%, 9/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 9976  | 10098  | 10538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187185770.SRDLC, 23.49%, 3/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4567  | 4598  | 4821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187191386.SRDLC, 30.99%, 3/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 9320  | 9441  | 7456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187196077.SRDLC, 28.99%, 3/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 2979  | 3018  | 266  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187199260.SRDLC, 5.00%, 3/14/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 3339  | 3382  | 2595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187202884.SRDLC, 23.99%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 768  | 768  | 773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187207505.SRDLC, 30.99%, 3/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 583  | 584  | 581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187212490.SRDLC, 28.99%, 7/14/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 402  | 407  | 322  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187214657.SRDLC, 30.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3514  | 3560  | 314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187225907.SRDLC, 24.99%, 3/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 4040  | 4093  | 361  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187227077.SRDLC, 17.99%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 5799  | 5875  | 518  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187228160.SRDLC, 26.49%, 3/17/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 2092  | 2119  | 187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187229868.SRDLC, 29.99%, 3/21/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 4029  | 4081  | 360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187232276.SRDLC, 28.99%, 3/14/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/16/2022 | 1444  | 1463  | 129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187232739.SRDLC, 30.49%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 4508  | 4535  | 4817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187243100.SRDLC, 18.49%, 3/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 1786  | 1793  | 1781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187244325.SRDLC, 22.49%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 6476  | 6560  | 579  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187256106.SRDLC, 30.99%, 3/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 5302  | 5344  | 5692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187258824.SRDLC, 28.99%, 5/4/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 41  | 42  | 41  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187273036.SRDLC, 28.49%, 4/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 7387  | 7483  | 660  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187274598.SRDLC, 19.49%, 4/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 3482  | 3516  | 3535  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187278011.SRDLC, 30.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 6796  | 6845  | 7262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187280200.SRDLC, 5.00%, 3/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | 2146  | 2173  | 192  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| **36** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187285539.SRDLC, 30.99%, 3/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2022 | $3451  | $3489  | $3658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187296926.SRDLC, 18.99%, 3/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 6105  | 6185  | 546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187298430.SRDLC, 30.99%, 3/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 5367  | 5418  | 5711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187298940.SRDLC, 27.99%, 3/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2022 | 2456  | 2487  | 220  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187299766.SRDLC, 18.99%, 3/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 4733  | 4762  | 4909  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187300111.SRDLC, 30.99%, 4/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 3471  | 3516  | 310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187305059.SRDLC, 14.24%, 3/21/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3427  | 3471  | 306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187315282.SRDLC, 30.99%, 3/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 10601  | 10739  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187317328.SRDLC, 23.49%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 4081  | 4109  | 4341  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187320803.SRDLC, 30.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 2851  | 2872  | 3057  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187324593.SRDLC, 17.99%, 8/13/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 1899  | 1923  | 1519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187326098.SRDLC, 17.99%, 6/16/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 508  | 508  | 507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187326921.SRDLC, 23.99%, 5/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 186  | 186  | 186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187332393.SRDLC, 22.49%, 3/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 1566  | 1572  | 1595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187332662.SRDLC, 26.49%, 5/16/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2022 | 467  | 473  | 57  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187337889.SRDLC, 28.99%, 10/17/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 2498  | 2531  | 223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187344458.SRDLC, 23.49%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 10916  | 10973  | 11465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187348658.SRDLC, 25.49%, 7/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 411  | 410  | 413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187354823.SRDLC, 30.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 2831  | 2852  | 3042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187356525.SRDLC, 30.49%, 3/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 534  | 537  | 553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187361064.SRDLC, 18.49%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 2477  | 2490  | 2452  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187363680.SRDLC, 17.99%, 3/17/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 367  | 372  | 33  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187375311.SRDLC, 19.49%, 4/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 3917  | 3932  | 3968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187382263.SRDLC, 30.99%, 3/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2022 | 3994  | 4046  | 357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187386845.SRDLC, 30.99%, 4/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 166  | 168  | 15  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187404590.SRDLC, 23.99%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2022 | 5321  | 5357  | 5663  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187419334.SRDLC, 30.99%, 3/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 2894  | 2926  | 3026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187430493.SRDLC, 28.49%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 817  | 828  | 73  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187435569.SRDLC, 30.99%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 15201  | 15398  | 1359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187437735.SRDLC, 28.99%, 4/5/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 304  | 308  | 27  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187441218.SRDLC, 13.99%, 5/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 1064  | 1078  | 95  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187441544.SRDLC, 30.99%, 1/21/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 4717  | 4778  | 422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187442318.SRDLC, 17.99%, 5/2/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 1812  | 1836  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187444837.SRDLC, 30.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3800  | 3849  | 340  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187447743.SRDLC, 30.99%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 5663  | 5704  | 6074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187448298.SRDLC, 30.99%, 8/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 485  | 485  | 489  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187449396.SRDLC, 18.99%, 3/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 7948  | 7998  | 8261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187452870.SRDLC, 21.49%, 4/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 3610  | 3657  | -  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187453785.SRDLC, 25.49%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 16536  | 16750  | 1478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187456488.SRDLC, 30.99%, 11/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 6989  | 7078  | 5337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187465329.SRDLC, 16.99%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 7268  | 7362  | 650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187470501.SRDLC, 25.49%, 3/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 6042  | 6121  | 28  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187480898.SRDLC, 30.49%, 3/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 6896  | 6923  | 7112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187489246.SRDLC, 24.49%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 3349  | 3367  | 3553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187493017.SRDLC, 30.99%, 6/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 7899  | 7997  | 706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187495162.SRDLC, 21.99%, 3/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/23/2022 | 933  | 937  | 952  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187504263.SRDLC, 18.99%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 3803  | 3828  | 3913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187510418.SRDLC, 30.99%, 4/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 10391  | 10526  | 929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187512182.SRDLC, 25.49%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 5512  | 5583  | 5868  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187515980.SRDLC, 24.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 5320  | 5356  | 5665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187518225.SRDLC, 20.49%, 3/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 3652  | 3699  | 326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187518895.SRDLC, 22.49%, 3/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 4346  | 4375  | 4517  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **37** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187519245.SRDLC, 30.49%, 3/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | $5641  | $5714  | $504  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187526379.SRDLC, 5.99%, 5/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 36  | 36  | 36  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187528155.SRDLC, 23.99%, 5/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 1161  | 1161  | 1156  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187529725.SRDLC, 28.99%, 9/22/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 7022  | 7113  | 628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187532223.SRDLC, 22.49%, 3/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 3585  | 3585  | 3723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187534180.SRDLC, 5.59%, 4/3/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2022 | 74  | 74  | 7  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187542436.SRDLC, 30.49%, 3/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 7097  | 7189  | 634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187543108.SRDLC, 23.99%, 3/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 8393  | 8502  | 8933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187547112.SRDLC, 23.49%, 4/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 4136  | 4190  | 370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187547337.SRDLC, 19.49%, 3/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 1793  | 1816  | 160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187547558.SRDLC, 30.99%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/29/2022 | 2841  | 2841  | 3046  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187547644.SRDLC, 27.79%, 8/17/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2022 | 16310  | 16310  | 1458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187548600.SRDLC, 30.49%, 4/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 3883  | 3933  | 347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187548640.SRDLC, 19.49%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 4255  | 4282  | 4417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187551152.SRDLC, 30.99%, 8/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2022 | 4924  | 4988  | 965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187552397.SRDLC, 24.99%, 5/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 595  | 603  | 126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187566191.SRDLC, 30.99%, 4/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 2923  | 2950  | 3064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187568029.SRDLC, 10.00%, 9/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 9954  | 10083  | 9857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187569851.SRDLC, 23.49%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 9083  | 9131  | 9596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187571871.SRDLC, 7.49%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 1026  | 1026  | 1001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187575336.SRDLC, 23.49%, 3/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 8500  | 8611  | 760  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187576025.SRDLC, 30.99%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 9007  | 9124  | 805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187581030.SRDLC, 30.99%, 3/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2022 | 9315  | 9436  | 1661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187583199.SRDLC, 30.49%, 3/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 8998  | 9115  | 804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187583216.SRDLC, 25.99%, 4/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2022 | 9070  | 9070  | 811  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187592785.SRDLC, 30.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 5663  | 5704  | 6085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187593444.SRDLC, 23.99%, 4/13/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2022 | 9207  | 9207  | 823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187593665.SRDLC, 21.49%, 3/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 1919  | 1926  | 1954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187616322.SRDLC, 9.99%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6561  | 6561  | 6466  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187618422.SRDLC, 30.99%, 4/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2703  | 2739  | 242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187620736.SRDLC, 30.99%, 3/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 6973  | 7064  | 623  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187624729.SRDLC, 30.99%, 5/5/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 74  | 74  | 73  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187625273.SRDLC, 27.49%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2022 | 3278  | 3301  | 3524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187626903.SRDLC, 23.99%, 4/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/29/2022 | 9322  | 9385  | 9810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187629164.SRDLC, 30.49%, 3/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/29/2022 | 5552  | 5614  | 5926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187638238.SRDLC, 30.99%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/29/2022 | 1733  | 1756  | 155  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187642052.SRDLC, 30.99%, 3/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2852  | 2872  | 3075  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187643783.SRDLC, 15.19%, 4/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2022 | 3454  | 3454  | 309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187646172.SRDLC, 28.49%, 3/28/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2725  | 2760  | 244  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187646351.SRDLC, 30.99%, 3/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 415  | 417  | 430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187653936.SRDLC, 30.99%, 5/10/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 1137  | 1152  | 203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187660527.SRDLC, 30.99%, 4/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6025  | 6104  | 539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187670344.SRDLC, 30.99%, 5/25/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/29/2022 | 36  | 36  | 36  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187671142.SRDLC, 20.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4943  | 4976  | 5067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187672826.SRDLC, 30.99%, 3/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 8152  | 8216  | 8550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187681770.SRDLC, 22.99%, 5/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 219  | 222  | 20  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187683385.SRDLC, 19.49%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 5996  | 6035  | 6245  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187684901.SRDLC, 17.49%, 5/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 111  | 111  | 111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187687190.SRDLC, 30.99%, 3/31/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 10797  | 10937  | 965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187689256.SRDLC, 23.49%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2367  | 2382  | 2510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187691527.SRDLC, 16.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 3796  | 3845  | 339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187692276.SRDLC, 5.00%, 3/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 7604  | 7692  | 8192  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **38** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187699788.SRDLC, 23.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | $22312  | $22602  | $3978  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187701388.SRDLC, 28.49%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 4957  | 4976  | 5304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187701762.SRDLC, 30.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 6875  | 6965  | 615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187709072.SRDLC, 30.99%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6428  | 6512  | 575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187711960.SRDLC, 21.49%, 3/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 4104  | 4113  | 4269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187715822.SRDLC, 30.99%, 7/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 11010  | 11154  | 984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187720227.SRDLC, 30.99%, 3/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 836  | 844  | 866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187721287.SRDLC, 14.04%, 3/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 952  | 955  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187721323.SRDLC, 21.74%, 9/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 3053  | 3090  | 3146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187726884.SRDLC, 23.49%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 3789  | 3838  | 339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187727906.SRDLC, 29.74%, 7/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 260  | 262  | 262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187729933.SRDLC, 30.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2921  | 2942  | 3070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187732651.SRDLC, 17.99%, 8/28/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 1605  | 1606  | 1610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187734606.SRDLC, 30.99%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2833  | 2840  | 3042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187741210.SRDLC, 5.00%, 8/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2360  | 2360  | 2400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187744622.SRDLC, 20.49%, 3/15/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 4105  | 4159  | 367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187749050.SRDLC, 30.99%, 1/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 4287  | 4325  | 4535  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187749843.SRDLC, 25.99%, 7/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 11637  | 11788  | 1040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187751211.SRDLC, 30.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 223  | 226  | 20  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187751530.SRDLC, 18.49%, 10/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2988  | 3016  | 2858  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187754067.SRDLC, 17.49%, 3/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 1595  | 1595  | 1594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187755875.SRDLC, 17.49%, 3/28/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 970  | 189  | 173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187760320.SRDLC, 27.49%, 3/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 6821  | 6869  | 7207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187762428.SRDLC, 30.49%, 4/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 4353  | 4388  | 4577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187765326.SRDLC, 30.99%, 3/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 2894  | 2932  | 259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187766134.SRDLC, 24.99%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/30/2022 | 6917  | 6962  | 7366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187767443.SRDLC, 30.99%, 3/29/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2022 | 5831  | 5907  | 1070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187768851.SRDLC, 22.99%, 10/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 1876  | 1876  | 1871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187770730.SRDLC, 19.99%, 9/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 680  | 689  | 676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187770978.SRDLC, 30.49%, 3/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 2919  | 2957  | 261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187771530.SRDLC, 15.99%, 12/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 6574  | 6659  | 1148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187773011.SRDLC, 13.19%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 11993  | 11993  | 12031  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187776367.SRDLC, 22.74%, 3/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 1806  | 1830  | 161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187777756.SRDLC, 30.99%, 3/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 3587  | 3633  | 321  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187778653.SRDLC, 30.99%, 3/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 338  | 342  | 30  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187779942.SRDLC, 30.99%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 2409  | 2440  | 215  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187780746.SRDLC, 21.49%, 10/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 4254  | 4309  | 1060  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187782545.SRDLC, 16.99%, 3/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 7272  | 7319  | 7121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187786026.SRDLC, 30.99%, 3/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 3529  | 3557  | 3687  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187789570.SRDLC, 22.49%, 8/30/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 300  | 300  | 299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187790872.SRDLC, 30.99%, 3/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 3368  | 3396  | 3528  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187793076.SRDLC, 28.99%, 4/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 1291  | 1307  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187793104.SRDLC, 28.99%, 3/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 5086  | 5152  | 455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187795721.SRDLC, 7.49%, 5/13/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2022 | 1014  | 1014  | 191  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187799361.SRDLC, 16.99%, 3/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2022 | 6306  | 6344  | 6148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187801163.SRDLC, 21.99%, 10/4/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2321  | 2351  | 756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187812184.SRDLC, 28.99%, 9/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 343  | 343  | 343  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187814662.SRDLC, 30.99%, 4/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 2937  | 2958  | 3084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187815910.SRDLC, 26.99%, 4/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6642  | 6729  | 594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187816052.SRDLC, 28.49%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 1815  | 1839  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187832105.SRDLC, 30.99%, 5/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 8301  | 8363  | 8870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187833165.SRDLC, 30.99%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 3476  | 3496  | 3659  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **39** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187835742.SRDLC, 15.49%, 4/7/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | $3086  | $3126  | $276  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187844022.SRDLC, 30.99%, 4/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 9038  | 9155  | 9478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187847354.SRDLC, 25.99%, 9/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 21650  | 21932  | 1936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187847747.SRDLC, 5.00%, 4/4/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 1914  | 1939  | 171  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187850176.SRDLC, 28.49%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2451  | 2483  | 219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187852320.SRDLC, 26.49%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6950  | 7000  | 7314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187853969.SRDLC, 29.99%, 4/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4968  | 5033  | 444  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187854140.SRDLC, 20.49%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 7581  | 7615  | 7791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187854697.SRDLC, 22.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2650  | 2668  | 2780  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187857140.SRDLC, 30.99%, 12/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 3857  | 3907  | 1009  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187858022.SRDLC, 17.74%, 5/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 61  | 61  | 61  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187859227.SRDLC, 20.49%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2306  | 2336  | 206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187861515.SRDLC, 30.99%, 10/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4459  | 4517  | 726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187864708.SRDLC, 27.99%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 10525  | 10647  | 11113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187865865.SRDLC, 30.99%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 622  | 630  | 56  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187866166.SRDLC, 30.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 8763  | 8827  | 9211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187866389.SRDLC, 30.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 2921  | 2942  | 3070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187869709.SRDLC, 28.99%, 4/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 10787  | 10927  | 964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187871605.SRDLC, 30.99%, 4/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 15997  | 16203  | 12090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187872598.SRDLC, 30.99%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 659  | 668  | 59  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187873238.SRDLC, 25.99%, 8/17/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 1425  | 1444  | 1430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187873507.SRDLC, 28.74%, 4/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 3681  | 3691  | 3751  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187876607.SRDLC, 15.99%, 5/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 262  | 266  | 99  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187887142.SRDLC, 24.49%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4407  | 4449  | 4616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187887270.SRDLC, 25.49%, 5/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 62  | 61  | 61  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187887520.SRDLC, 26.99%, 4/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 10143  | 10143  | 907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187891190.SRDLC, 24.99%, 4/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 2749  | 2768  | 2889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187899456.SRDLC, 30.99%, 4/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 13828  | 14007  | 3791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187899525.SRDLC, 24.99%, 10/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2022 | 110  | 111  | 109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187903235.SRDLC, 30.99%, 2/3/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4413  | 4470  | 179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187903875.SRDLC, 17.99%, 4/5/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 1077  | 1091  | 96  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187904645.SRDLC, 23.99%, 4/4/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 4220  | 4220  | 377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187905484.SRDLC, 26.74%, 10/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 10059  | 10158  | 10551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187906366.SRDLC, 30.99%, 4/5/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 9852  | 9981  | 881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187911176.SRDLC, 30.99%, 4/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 6630  | 6716  | 593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187914262.SRDLC, 30.99%, 4/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 11684  | 11770  | 12289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187916897.SRDLC, 30.99%, 4/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 4738  | 4772  | 4973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187920689.SRDLC, 25.49%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 3785  | 3785  | 3987  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187923397.SRDLC, 30.99%, 4/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 9808  | 9936  | 1646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187926595.SRDLC, 22.99%, 4/6/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 2959  | 2997  | 265  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187926998.SRDLC, 7.99%, 4/30/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2022 | 50  | 50  | 49  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187930630.SRDLC, 27.99%, 5/20/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 402  | 408  | 190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187936291.SRDLC, 16.49%, 4/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 2499  | 2525  | 2440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187940222.SRDLC, 23.49%, 7/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 13182  | 13182  | 13060  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187941261.SRDLC, 30.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 19435  | 19435  | 19683  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187945171.SRDLC, 30.99%, 4/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 8660  | 8772  | 774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187948199.SRDLC, 30.99%, 4/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 5991  | 6036  | 6306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187948779.SRDLC, 30.99%, 4/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 155  | 155  | 154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187953821.SRDLC, 19.99%, 9/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 1562  | 1582  | 140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187961524.SRDLC, 30.99%, 4/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 3453  | 3498  | 309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187973616.SRDLC, 13.19%, 5/4/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 592  | 592  | 62  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187975935.SRDLC, 20.49%, 5/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2022 | 342  | 342  | 342  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **40** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 187978396.SRDLC, 30.49%, 4/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | $4709  | $4770  | $421  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187978760.SRDLC, 30.99%, 4/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 5337  | 5406  | 477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187981341.SRDLC, 21.49%, 4/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 2461  | 2477  | 2523  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187982886.SRDLC, 5.00%, 4/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 16156  | 16156  | 15786  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187983448.SRDLC, 28.99%, 4/20/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 2541  | 2574  | 227  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187984198.SRDLC, 9.69%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 9171  | 9171  | 9033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187984558.SRDLC, 17.99%, 4/6/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 366  | 371  | 33  |
| &nbsp;&nbsp;&nbsp;&nbsp; 187999901.SRDLC, 5.00%, 4/4/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 1744  | 1744  | 105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188003565.SRDLC, 13.19%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/6/2022 | 10074  | 10074  | 10106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188003641.SRDLC, 7.59%, 4/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2022 | 17833  | 17833  | 17626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188071537.SRDLC, 14.99%, 4/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2022 | 11494  | 11494  | 11382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188093871.SRDLC, 13.19%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 7517  | 7517  | 7560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188116171.SRDLC, 10.99%, 9/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2022 | 1111  | 1111  | 1108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188118276.SRDLC, 14.09%, 4/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2022 | 18467  | 18467  | 1651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188125168.SRDLC, 7.99%, 5/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2022 | 47  | 47  | 47  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188154421.SRDLC, 6.59%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2022 | 6376  | 6376  | 6304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188157838.SRDLC, 9.99%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2022 | 6184  | 6184  | 6097  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188180448.SRDLC, 8.99%, 4/11/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 6316  | 6316  | 565  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188180458.SRDLC, 13.19%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2022 | 9068  | 9068  | 9071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188180817.SRDLC, 9.69%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 9171  | 9171  | 9042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188187819.SRDLC, 23.99%, 4/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2022 | 5100  | 5100  | 456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188202504.SRDLC, 18.19%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 5041  | 5041  | 4976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188212079.SRDLC, 7.59%, 7/30/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 537  | 537  | 510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188214895.SRDLC, 26.79%, 11/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2022 | 10388  | 10388  | 1852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188214926.SRDLC, 16.19%, 4/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 2688  | 2688  | 2659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188241974.SRDLC, 26.79%, 4/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 4867  | 4867  | 435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188243266.SRDLC, 12.99%, 4/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 7178  | 7178  | 7114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188245083.SRDLC, 18.99%, 4/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 16572  | 16572  | 16565  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188269841.SRDLC, 14.99%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/13/2022 | 12322  | 12322  | 12179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188272070.SRDLC, 7.59%, 4/22/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2022 | 4796  | 4796  | 429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188317779.SRDLC, 6.99%, 4/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2022 | 4523  | 4523  | 4410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188369317.SRDLC, 10.00%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2022 | 16576  | 16576  | 16349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188382495.SRDLC, 10.59%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2022 | 11600  | 11600  | 11435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188383621.SRDLC, 17.19%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2022 | 3224  | 3224  | 3226  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188396800.SRDLC, 10.89%, 4/30/2025 (a)(r)(s)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2022 | 69  | 69  | 69  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188413118.SRDLC, 9.79%, 4/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2022 | 2472  | 2472  | 221  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188423939.SRDLC, 6.59%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2022 | 10103  | 10103  | 9859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188429512.SRDLC, 26.79%, 10/14/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2022 | 556  | 556  | 556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188443111.SRDLC, 9.99%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 5985  | 5985  | 5901  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188463802.SRDLC, 15.99%, 4/22/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2022 | 3646  | 3646  | 326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188469901.SRDLC, 8.79%, 4/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 11093  | 11093  | 992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188470491.SRDLC, 7.09%, 4/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/27/2022 | 3141  | 3141  | 3112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188494020.SRDLC, 15.19%, 4/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 8555  | 8555  | 765  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188506333.SRDLC, 7.59%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 8025  | 8025  | 7911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188512606.SRDLC, 16.19%, 7/31/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 893  | 893  | 892  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188512665.SRDLC, 16.19%, 4/18/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 2752  | 2752  | 246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188524541.SRDLC, 7.59%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 5350  | 5350  | 5298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188533982.SRDLC, 14.19%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/20/2022 | 5829  | 5829  | 5842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188560858.SRDLC, 15.19%, 4/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/27/2022 | 14753  | 14753  | 14635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188602043.SRDLC, 23.99%, 4/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 8314  | 8314  | 743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188639510.SRDLC, 23.99%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 5440  | 5440  | 5532  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188651498.SRDLC, 9.99%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 3683  | 3683  | 3632  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **41** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 188683792.SRDLC, 14.99%, 4/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/27/2022 | $3434  | $3434  | $3406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188683963.SRDLC, 30.99%, 4/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 10046  | 10046  | 10591  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188687759.SRDLC, 14.99%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2022 | 7360  | 7360  | 7286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188691099.SRDLC, 7.59%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2022 | 8471  | 8471  | 8393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188701267.SRDLC, 17.44%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 10106  | 10106  | 10018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188705941.SRDLC, 14.99%, 4/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2022 | 9759  | 9759  | 9659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188715091.SRDLC, 23.99%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2022 | 21762  | 21762  | 22143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188761265.SRDLC, 6.59%, 4/25/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/27/2022 | 2678  | 2678  | 239  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188800045.SRDLC, 5.59%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2022 | 17345  | 17345  | 16935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188838520.SRDLC, 12.49%, 5/27/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 1623  | 1623  | 329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188843204.SRDLC, 14.99%, 12/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2022 | 6252  | 6252  | 6078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188846276.SRDLC, 11.89%, 5/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 19809  | 19809  | 19463  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188851082.SRDLC, 23.49%, 4/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/2/2022 | 9945  | 9945  | 889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188871984.SRDLC, 22.49%, 10/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 7697  | 7697  | 688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188874439.SRDLC, 21.79%, 4/27/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2022 | 196  | 196  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 188906118.SRDLC, 7.09%, 4/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/2/2022 | 9299  | 9299  | 9216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190431243.SRDLC, 30.99%, 7/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 741  | 742  | 748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190580202.SRDLC, 20.49%, 7/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 683  | 683  | 684  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190585073.SRDLC, 16.99%, 7/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/11/2022 | 17391  | 17521  | 1555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190656219.SRDLC, 21.99%, 7/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 3070  | 3093  | 274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190873520.SRDLC, 15.74%, 7/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 814  | 819  | 651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190966377.SRDLC, 26.99%, 7/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 500  | 500  | 502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190968042.SRDLC, 28.99%, 7/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 475  | 475  | 477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 190983738.SRDLC, 18.99%, 7/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/8/2022 | 544  | 544  | 539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191000884.SRDLC, 30.99%, 7/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 9528  | 9572  | 9951  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191035222.SRDLC, 17.54%, 7/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 4385  | 4403  | 4264  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191038262.SRDLC, 28.99%, 8/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 6298  | 6361  | 269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191043882.SRDLC, 16.24%, 7/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 495  | 495  | 494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191076667.SRDLC, 16.49%, 7/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 536  | 536  | 535  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191086066.SRDLC, 17.99%, 7/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 1086  | 1093  | 869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191094293.SRDLC, 30.99%, 7/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/11/2022 | 3233  | 3248  | 3382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191095020.SRDLC, 23.74%, 7/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/11/2022 | 12645  | 12645  | 12727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191100451.SRDLC, 7.09%, 7/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/8/2022 | 707  | 707  | 705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191105569.SRDLC, 30.99%, 7/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 5899  | 5958  | 527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191112629.SRDLC, 26.99%, 8/4/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 618  | 619  | 619  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191113722.SRDLC, 24.99%, 7/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 6014  | 6050  | 6338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191122073.SRDLC, 30.99%, 4/14/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 10505  | 10583  | 7301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191125187.SRDLC, 17.49%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 2325  | 2330  | 2315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191128959.SRDLC, 30.99%, 7/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/12/2022 | 5427  | 5468  | 485  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191151335.SRDLC, 22.99%, 7/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/7/2022 | 6986  | 7038  | 625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191154880.SRDLC, 7.74%, 8/2/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1229  | 1229  | 1223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191159852.SRDLC, 30.49%, 7/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/8/2022 | 6287  | 6334  | 562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191159999.SRDLC, 28.99%, 7/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 671  | 672  | 678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191161484.SRDLC, 30.99%, 7/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 616  | 616  | 620  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191176580.SRDLC, 18.24%, 7/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/12/2022 | 528  | 528  | 526  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191177276.SRDLC, 30.99%, 7/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 15306  | 15459  | 1368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191178176.SRDLC, 30.99%, 7/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 3176  | 3190  | 3329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191181283.SRDLC, 23.49%, 7/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/11/2022 | 10809  | 10890  | 966  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191181523.SRDLC, 30.99%, 7/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 12898  | 12959  | 13494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191193127.SRDLC, 30.49%, 7/13/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/2022 | 2936  | 2958  | 262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191198358.SRDLC, 30.99%, 7/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/14/2022 | 4573  | 4594  | 4797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191203714.SRDLC, 23.99%, 7/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/19/2022 | 5045  | 5045  | 451  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **42** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 191226544.SRDLC, 30.99%, 7/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | $1471  | $1471  | $1489  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191229228.SRDLC, 26.99%, 8/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/12/2022 | 12383  | 12476  | 1107  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191241687.SRDLC, 24.99%, 7/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 1144  | 1145  | 1148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191251728.SRDLC, 30.99%, 7/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/12/2022 | 5332  | 5372  | 477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191252175.SRDLC, 30.99%, 7/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 2967  | 2981  | 3087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191274191.SRDLC, 26.99%, 8/8/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5185  | 5236  | 464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191275722.SRDLC, 27.99%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 361  | 364  | 32  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191276546.SRDLC, 19.49%, 7/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 247  | 247  | 246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191293818.SRDLC, 30.99%, 7/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/19/2022 | 11888  | 11927  | 12424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191295680.SRDLC, 17.99%, 7/1/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 2143  | 2145  | 2129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191302516.SRDLC, 10.04%, 7/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 897  | 897  | 897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191302532.SRDLC, 23.49%, 7/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 3596  | 3596  | 3755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191313508.SRDLC, 19.49%, 7/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 2023  | 2029  | 2047  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191316742.SRDLC, 30.99%, 7/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/14/2022 | 796  | 797  | 799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191321447.SRDLC, 30.49%, 7/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/2022 | 3115  | 3138  | 278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191337039.SRDLC, 14.54%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 1321  | 1331  | 118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191340523.SRDLC, 15.69%, 7/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 14130  | 14130  | 14061  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191346196.SRDLC, 27.74%, 7/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 7496  | 7542  | 7919  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191353759.SRDLC, 30.99%, 7/31/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/19/2022 | 586  | 586  | 591  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191357645.SRDLC, 22.49%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 12946  | 13075  | 1157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191371545.SRDLC, 17.24%, 7/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/13/2022 | 523  | 523  | 521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191376381.SRDLC, 27.49%, 7/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/14/2022 | 1825  | 1831  | 1859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191390818.SRDLC, 17.19%, 7/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/2022 | 25132  | 25132  | 2247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191394525.SRDLC, 28.99%, 7/20/2024 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/2022 | 4335  | 4368  | 388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191417288.SRDLC, 26.24%, 7/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/15/2022 | 4993  | 5030  | 446  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191434671.SRDLC, 13.44%, 7/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/18/2022 | 12522  | 12522  | 12564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191441017.SRDLC, 9.79%, 7/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 1424  | 1424  | 1423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191446786.SRDLC, 22.49%, 7/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4778  | 4826  | 427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191453578.SRDLC, 19.49%, 7/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 268  | 268  | 268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191456870.SRDLC, 22.49%, 7/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/18/2022 | 345  | 345  | 346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191462872.SRDLC, 22.49%, 7/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2934  | 2951  | 3023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191462983.SRDLC, 28.99%, 7/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 4368  | 4395  | 4614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191469608.SRDLC, 20.99%, 7/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/18/2022 | 1110  | 1111  | 1110  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191491322.SRDLC, 24.99%, 7/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 2809  | 2837  | 251  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191510625.SRDLC, 23.99%, 7/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 20880  | 20880  | 1867  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191513596.SRDLC, 5.00%, 7/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 4211  | 4211  | 4144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191521233.SRDLC, 18.99%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 2866  | 2894  | 256  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191527006.SRDLC, 30.99%, 7/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 3226  | 3246  | 3401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191544930.SRDLC, 23.99%, 7/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 10721  | 10776  | 11332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191553131.SRDLC, 28.49%, 7/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 5654  | 5710  | 505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191559588.SRDLC, 30.99%, 7/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 3870  | 3895  | 4078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191563994.SRDLC, 19.24%, 7/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 5597  | 5653  | 500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191566159.SRDLC, 15.74%, 7/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 4537  | 4582  | 406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191572560.SRDLC, 30.99%, 1/18/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 1719  | 1736  | 154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191578273.SRDLC, 30.99%, 7/28/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 459  | 459  | 465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191588942.SRDLC, 27.49%, 1/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 2588  | 2614  | 231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191601897.SRDLC, 30.99%, 10/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 13568  | 13704  | 1213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191603240.SRDLC, 14.94%, 8/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/20/2022 | 8778  | 8778  | 8693  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191609370.SRDLC, 26.49%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2040  | 2043  | 2045  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191616350.SRDLC, 30.99%, 7/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 3811  | 3830  | 4015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191616574.SRDLC, 17.99%, 7/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 2281  | 2301  | 204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191622860.SRDLC, 5.00%, 2/8/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1995  | 1995  | 1855  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **43** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** |  | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 191628206.SRDLC, 28.99%, 8/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2022 |  | $12167  | $12167  | $12921  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191628288.SRDLC, 30.99%, 7/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 |  | 1801  | 1809  | 1843  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191632334.SRDLC, 28.99%, 7/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 |  | 362  | 362  | 364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191657624.SRDLC, 30.99%, 11/20/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 |  | 2980  | 2984  | 3023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191666463.SRDLC, 23.99%, 8/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 |  | 3754  | 3754  | 3769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191667374.SRDLC, 30.99%, 7/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 |  | 956  | 957  | 964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191667711.SRDLC, 17.99%, 7/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 526  | 527  | 527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191678013.SRDLC, 24.99%, 7/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | ">  | 7248  | 7286  | 7592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191680560.SRDLC, 23.49%, 7/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 6559  | 6598  | 6907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191694452.SRDLC, 30.99%, 7/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 2901  | 2901  | 259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191695847.SRDLC, 13.09%, 7/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 |  | 601  | 601  | 600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191699828.SRDLC, 24.49%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 |  | 2500  | 2500  | 454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191705506.SRDLC, 17.99%, 7/22/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 |  | 418  | 418  | 417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191714741.SRDLC, 19.74%, 7/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 |  | 774  | 774  | 775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191724345.SRDLC, 13.69%, 12/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 |  | 6318  | 6318  | 1430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191728001.SRDLC, 18.99%, 8/9/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 1064  | 1066  | 1060  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191744435.SRDLC, 25.74%, 7/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/2/2022 |  | 1641  | 1657  | 147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191750200.SRDLC, 20.99%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 |  | 402  | 402  | 403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191766386.SRDLC, 19.99%, 7/25/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 2403  | 2427  | 215  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191769272.SRDLC, 9.79%, 7/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 |  | 664  | 664  | 664  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191772278.SRDLC, 15.99%, 7/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 775  | 776  | 775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191786026.SRDLC, 16.79%, 8/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 |  | 22795  | 22795  | 22494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191786546.SRDLC, 30.99%, 7/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 4021  | 4021  | 4161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191793460.SRDLC, 24.99%, 7/25/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 616  | 622  | 55  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191794348.SRDLC, 30.99%, 8/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 |  | 3037  | 3067  | 272  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191797544.SRDLC, 26.99%, 7/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 |  | 812  | 820  | 823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191810287.SRDLC, 23.99%, 8/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 |  | 1549  | 1549  | 1539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191813026.SRDLC, 20.99%, 7/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 |  | 3292  | 3311  | 3343  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191814695.SRDLC, 29.49%, 8/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 |  | 4677  | 4698  | 4749  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191816048.SRDLC, 26.49%, 8/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 3234  | 3234  | 3203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191822419.SRDLC, 30.99%, 7/30/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 |  | 439  | 439  | 445  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191826397.SRDLC, 27.99%, 8/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 |  | 2636  | 2656  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191831931.SRDLC, 22.49%, 8/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 |  | 3674  | 3696  | 3730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191837686.SRDLC, 27.99%, 8/1/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 4068  | 4108  | 364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191845973.SRDLC, 19.99%, 7/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 |  | 861  | 862  | 861  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191847136.SRDLC, 16.49%, 7/25/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 5143  | 5143  | 460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191849583.SRDLC, 13.19%, 8/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 |  | 9371  | 9371  | 9329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191860902.SRDLC, 30.99%, 7/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 |  | 3176  | 3208  | 284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191871219.SRDLC, 30.99%, 8/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 5005  | 5055  | 447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191893067.SRDLC, 23.99%, 9/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 |  | 997  | 997  | 982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191907225.SRDLC, 14.54%, 8/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 |  | 9419  | 9514  | 842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191926237.SRDLC, 20.24%, 8/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 |  | 145  | 145  | 144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191935262.SRDLC, 23.99%, 8/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 |  | 5827  | 5827  | 5883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191959068.SRDLC, 26.74%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 2270  | 2273  | 2289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191965103.SRDLC, 15.99%, 8/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 816  | 817  | 812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191968990.SRDLC, 17.74%, 8/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 500  | 501  | 498  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191974355.SRDLC, 30.99%, 8/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 3908  | 3933  | 4095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191981138.SRDLC, 30.99%, 8/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/3/2022 |  | 9889  | 9950  | 10375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 191990878.SRDLC, 16.99%, 8/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 |  | 14283  | 14283  | 1277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192010930.SRDLC, 30.99%, 8/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 |  | 712  | 712  | 725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192020118.SRDLC, 30.99%, 1/23/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 |  | 13097  | 13208  | 13660  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192023144.SRDLC, 23.99%, 8/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 |  | 6109  | 6109  | 6093  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **44** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 192024041.SRDLC, 24.99%, 12/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | $2763  | $2790  | $505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192027703.SRDLC, 14.19%, 3/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 4185  | 4185  | 4108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192039955.SRDLC, 26.49%, 8/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1285  | 1285  | 1292  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192040896.SRDLC, 28.99%, 8/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2038  | 2041  | 2056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192046955.SRDLC, 24.49%, 8/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 3720  | 3720  | 333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192047796.SRDLC, 30.99%, 8/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 22289  | 22289  | 1993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192054809.SRDLC, 13.19%, 8/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 7788  | 7788  | 5016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192063068.SRDLC, 27.99%, 8/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 386  | 386  | 387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192063849.SRDLC, 23.49%, 8/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 11974  | 11974  | 11794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192065862.SRDLC, 16.49%, 8/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2272  | 2272  | 2245  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192067979.SRDLC, 10.74%, 8/3/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 188  | 188  | 187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192069607.SRDLC, 14.54%, 8/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2022 | 2193  | 2215  | 196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192073469.SRDLC, 30.99%, 8/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 13336  | 13405  | 14145  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192075255.SRDLC, 23.99%, 8/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 6366  | 6366  | 6383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192078630.SRDLC, 26.49%, 8/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2939  | 2968  | 263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192079366.SRDLC, 28.74%, 8/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 6071  | 6113  | 6328  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192079662.SRDLC, 29.49%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1366  | 1366  | 1354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192088574.SRDLC, 14.19%, 8/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 12381  | 12381  | 1107  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192095084.SRDLC, 23.99%, 8/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 7960  | 7960  | 7957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192107400.SRDLC, 16.49%, 8/8/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 850  | 850  | 680  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192107870.SRDLC, 23.99%, 8/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 8681  | 8681  | 776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192117523.SRDLC, 23.49%, 8/3/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 539  | 539  | 532  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192123907.SRDLC, 21.99%, 8/5/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1314  | 1316  | 1310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192131702.SRDLC, 19.69%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 8970  | 8970  | 8820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192139310.SRDLC, 23.99%, 8/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 9182  | 9182  | 9223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192143725.SRDLC, 23.99%, 8/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1173  | 1173  | 1175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192147934.SRDLC, 16.69%, 8/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 14463  | 14463  | 14466  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192153817.SRDLC, 30.99%, 8/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1074  | 1085  | 311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192165868.SRDLC, 30.99%, 8/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 8107  | 8188  | 725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192173279.SRDLC, 27.99%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 5341  | 5341  | 5308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192183697.SRDLC, 22.99%, 8/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 3494  | 3494  | 312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192187274.SRDLC, 15.74%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2443  | 2445  | 2433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192192717.SRDLC, 10.99%, 8/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6951  | 6951  | 6850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192193246.SRDLC, 16.99%, 8/8/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 730  | 737  | 65  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192198391.SRDLC, 28.99%, 8/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 6299  | 6299  | 6729  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192200565.SRDLC, 24.99%, 8/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 250  | 253  | 29  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192209553.SRDLC, 30.99%, 8/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5169  | 5221  | 462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192229952.SRDLC, 18.99%, 8/10/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1595  | 1611  | 301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192235260.SRDLC, 23.99%, 8/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5335  | 5335  | 5364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192237494.SRDLC, 20.49%, 8/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3626  | 3626  | 3639  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192238273.SRDLC, 30.99%, 8/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1450  | 1464  | 130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192252952.SRDLC, 29.49%, 5/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 4575  | 4575  | 4754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192256223.SRDLC, 19.99%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 135  | 135  | 134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192264548.SRDLC, 19.99%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 365  | 365  | 365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192266752.SRDLC, 16.49%, 8/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 6003  | 6003  | 5987  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192269870.SRDLC, 30.99%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 161  | 161  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192281994.SRDLC, 23.99%, 8/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 628  | 628  | 56  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192283274.SRDLC, 24.99%, 8/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 634  | 635  | 636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192283329.SRDLC, 16.99%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1377  | 1378  | 1373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192289140.SRDLC, 27.99%, 8/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 781  | 782  | 784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192292011.SRDLC, 28.99%, 8/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 838  | 841  | 853  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192292446.SRDLC, 23.99%, 8/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 7285  | 7285  | 7329  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **45** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 192292509.SRDLC, 18.49%, 8/24/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | $3854  | $3854  | $345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192292874.SRDLC, 17.99%, 8/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2022 | 487  | 488  | 487  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192294945.SRDLC, 20.99%, 8/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 4639  | 4666  | 4809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192299352.SRDLC, 25.99%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 845  | 845  | 850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192303177.SRDLC, 24.99%, 8/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 626  | 626  | 627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192306426.SRDLC, 19.99%, 8/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 2111  | 2132  | 189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192333305.SRDLC, 23.99%, 8/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 9293  | 9293  | 9335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192333734.SRDLC, 30.49%, 9/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 5448  | 5448  | 487  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192338100.SRDLC, 14.69%, 8/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 6683  | 6683  | 6682  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192338257.SRDLC, 18.49%, 8/9/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3504  | 3508  | 3495  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192359015.SRDLC, 13.99%, 6/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6090  | 6090  | 803  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192359709.SRDLC, 30.99%, 8/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 456  | 456  | 458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192367518.SRDLC, 13.39%, 12/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 19158  | 19158  | 1713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192370079.SRDLC, 30.49%, 8/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 8754  | 8816  | 9165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192373124.SRDLC, 30.99%, 8/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 347  | 350  | 31  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192373917.SRDLC, 25.49%, 9/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 959  | 961  | 956  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192379595.SRDLC, 13.99%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 8848  | 8848  | 8723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192385569.SRDLC, 24.99%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 773  | 773  | 767  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192388823.SRDLC, 22.24%, 8/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 3106  | 3138  | 278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192390755.SRDLC, 10.54%, 8/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1596  | 1596  | 1595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192398119.SRDLC, 8.59%, 8/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 1465  | 1465  | 1464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192400720.SRDLC, 22.99%, 8/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2022 | 6046  | 6046  | 540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192404623.SRDLC, 23.99%, 9/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2022 | 2484  | 2484  | 2489  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192409831.SRDLC, 23.49%, 8/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 9905  | 10004  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192413613.SRDLC, 20.99%, 11/11/2024 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 252  | 255  | 23  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192416611.SRDLC, 10.79%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2022 | 2204  | 2204  | 2197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192420352.SRDLC, 16.69%, 8/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2022 | 20774  | 20774  | 20816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192422507.SRDLC, 11.84%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | 3880  | 3880  | 3882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192428920.SRDLC, 15.00%, 12/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2022 | 9421  | 9421  | 7756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192431792.SRDLC, 21.49%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 5977  | 5977  | 6022  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192435997.SRDLC, 10.29%, 8/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 837  | 837  | 838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192441361.SRDLC, 15.00%, 1/25/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 8571  | 8571  | 8547  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192448747.SRDLC, 23.99%, 8/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 1292  | 1292  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192468743.SRDLC, 10.79%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 511  | 511  | 510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192479865.SRDLC, 10.00%, 2/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 3457  | 3457  | 3379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192481710.SRDLC, 14.69%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 15603  | 15603  | 15616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192512046.SRDLC, 24.99%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 2471  | 2471  | 2512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192514171.SRDLC, 7.59%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 674  | 674  | 671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192516798.SRDLC, 25.99%, 8/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 8850  | 8850  | 791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192526019.SRDLC, 28.49%, 4/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 5043  | 5043  | 1232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192539008.SRDLC, 8.84%, 8/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 3613  | 3613  | 3608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192540719.SRDLC, 10.54%, 1/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2022 | 5429  | 5429  | 485  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192545623.SRDLC, 25.74%, 8/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 6843  | 6843  | 6910  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192565665.SRDLC, 15.00%, 3/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 11037  | 11037  | 10523  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192575011.SRDLC, 30.99%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 1129  | 1131  | 1149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192578477.SRDLC, 19.49%, 8/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2022 | 875  | 884  | 878  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192582047.SRDLC, 15.74%, 8/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 1563  | 1563  | 1562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192585807.SRDLC, 25.99%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 1069  | 1069  | 1074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192590629.SRDLC, 30.99%, 9/2/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 1833  | 1852  | 164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192607073.SRDLC, 29.99%, 8/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 6725  | 6725  | 601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192608111.SRDLC, 23.49%, 8/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 4874  | 4903  | 5159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192608673.SRDLC, 30.99%, 8/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 807  | 808  | 815  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **46** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 192610948.SRDLC, 23.49%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | $1413  | $1415  | $1422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192613924.SRDLC, 19.94%, 8/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2022 | 15558  | 15558  | 15555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192614412.SRDLC, 25.99%, 8/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 3667  | 3672  | 3683  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192622579.SRDLC, 16.49%, 8/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 13785  | 13785  | 13633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192629073.SRDLC, 32.39%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 10026  | 10093  | 10671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192631895.SRDLC, 19.99%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 1430  | 1432  | 1433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192634375.SRDLC, 13.99%, 4/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/19/2022 | 13374  | 13374  | 13185  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192637025.SRDLC, 30.99%, 8/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2022 | 2002  | 2022  | 179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192639185.SRDLC, 25.99%, 8/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 6640  | 6640  | 6677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192645606.SRDLC, 16.19%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 1364  | 1364  | 1364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192646300.SRDLC, 30.99%, 4/26/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 3333  | 3366  | 298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192662250.SRDLC, 29.49%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 3970  | 3970  | 3964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192662590.SRDLC, 26.49%, 8/4/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 3274  | 3274  | 293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192668976.SRDLC, 22.49%, 8/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 3594  | 3594  | 321  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192671256.SRDLC, 32.39%, 8/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 13073  | 13073  | 13932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192691765.SRDLC, 30.99%, 8/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 1078  | 1089  | 96  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192694158.SRDLC, 25.99%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 916  | 916  | 920  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192694190.SRDLC, 21.99%, 8/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 4977  | 4989  | 5037  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192698444.SRDLC, 11.29%, 9/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2022 | 299  | 298  | 297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192702036.SRDLC, 26.49%, 8/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 7519  | 7519  | 7586  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192704436.SRDLC, 16.94%, 8/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 2971  | 2971  | 2958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192708355.SRDLC, 32.39%, 8/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 12515  | 12614  | 13303  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192713407.SRDLC, 18.99%, 8/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2022 | 423  | 423  | 424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192726339.SRDLC, 24.49%, 8/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 450  | 450  | 449  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192743620.SRDLC, 17.24%, 8/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 552  | 553  | 553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192749125.SRDLC, 32.39%, 8/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 9091  | 9091  | 813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192759832.SRDLC, 22.99%, 8/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 14687  | 14687  | 14808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192766943.SRDLC, 22.99%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 10914  | 10976  | 11621  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192771675.SRDLC, 25.99%, 8/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 10601  | 10601  | 10732  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192775167.SRDLC, 26.99%, 8/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 463  | 464  | 470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192776232.SRDLC, 29.99%, 8/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 963  | 964  | 974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192776777.SRDLC, 30.74%, 11/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 773  | 778  | 780  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192780614.SRDLC, 23.99%, 8/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 3092  | 3111  | 3271  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192789922.SRDLC, 25.99%, 4/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 9189  | 9189  | 9047  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192792740.SRDLC, 30.99%, 8/30/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1961  | 1967  | 1962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192796294.SRDLC, 9.09%, 9/1/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2022 | 3230  | 3230  | 289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192796437.SRDLC, 22.49%, 8/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 734  | 735  | 737  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192800194.SRDLC, 20.99%, 8/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 1010  | 1012  | 1015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192810627.SRDLC, 19.94%, 8/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 2796  | 2796  | 250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192815018.SRDLC, 20.99%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 867  | 867  | 871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192817165.SRDLC, 30.99%, 2/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 9716  | 9814  | 869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192817671.SRDLC, 22.99%, 8/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 642  | 643  | 648  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192822780.SRDLC, 22.49%, 8/22/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2022 | 7842  | 7920  | 701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192824567.SRDLC, 19.74%, 8/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 455  | 456  | 457  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192842278.SRDLC, 29.49%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | 2182  | 2182  | 2181  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192845820.SRDLC, 18.49%, 8/3/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 1064  | 1064  | 1056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192846539.SRDLC, 26.49%, 11/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 519  | 519  | 521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192847951.SRDLC, 26.99%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | 772  | 774  | 783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192855200.SRDLC, 28.99%, 8/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2022 | 2706  | 2706  | 2885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192863062.SRDLC, 15.00%, 11/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 2754  | 2767  | 2776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192864288.SRDLC, 20.99%, 8/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 665  | 666  | 663  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192867016.SRDLC, 15.19%, 8/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 3697  | 3697  | 3713  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **47** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 192869569.SRDLC, 11.29%, 8/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | $1927  | $1927  | $1928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192876522.SRDLC, 32.39%, 8/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 5271  | 5305  | 5614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192879657.SRDLC, 15.94%, 8/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/26/2022 | 8923  | 8923  | 798  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192881890.SRDLC, 27.24%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 372  | 372  | 377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192885568.SRDLC, 26.99%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 392  | 393  | 398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192886814.SRDLC, 22.99%, 2/26/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 5132  | 5184  | 459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192890459.SRDLC, 30.99%, 8/21/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 2918  | 2947  | 261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192892859.SRDLC, 25.99%, 2/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 2361  | 2364  | 2379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192896989.SRDLC, 25.99%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 312  | 312  | 314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192899816.SRDLC, 20.74%, 8/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/29/2022 | 604  | 604  | 606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192902759.SRDLC, 21.99%, 8/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 4635  | 4681  | 414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192913549.SRDLC, 22.49%, 8/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 11835  | 11835  | 1058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192917763.SRDLC, 12.24%, 9/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 1667  | 1667  | 1657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192923851.SRDLC, 20.99%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 434  | 435  | 437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192924727.SRDLC, 25.24%, 8/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 6811  | 6811  | 609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192930139.SRDLC, 25.24%, 8/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 10286  | 10286  | 920  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192934351.SRDLC, 30.99%, 8/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2022 | 970  | 975  | 984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192949362.SRDLC, 20.74%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1437  | 1439  | 1432  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192955657.SRDLC, 25.99%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 1528  | 1528  | 1544  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192956476.SRDLC, 25.74%, 8/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 8495  | 8580  | 2194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192964543.SRDLC, 32.39%, 7/14/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 12210  | 12327  | 1092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192966506.SRDLC, 30.99%, 8/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 6858  | 6924  | 613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192979492.SRDLC, 16.69%, 8/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 11024  | 11024  | 11110  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192979855.SRDLC, 26.99%, 8/30/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 97  | 97  | 97  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192982092.SRDLC, 22.24%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 5117  | 5117  | 5151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192989933.SRDLC, 14.94%, 8/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 14720  | 14720  | 1316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192989998.SRDLC, 30.99%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 948  | 950  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192990369.SRDLC, 30.99%, 8/31/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 1437  | 1439  | 1437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192991046.SRDLC, 29.99%, 9/3/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 10837  | 10946  | 969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192995083.SRDLC, 32.39%, 9/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 8469  | 8554  | 757  |
| &nbsp;&nbsp;&nbsp;&nbsp; 192996701.SRDLC, 30.74%, 9/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2022 | 1905  | 1908  | 1926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193000989.SRDLC, 20.99%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 346  | 346  | 348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193001323.SRDLC, 19.69%, 9/5/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 1421  | 1421  | 1415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193005732.SRDLC, 23.99%, 9/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 9453  | 9453  | 9409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193008719.SRDLC, 25.49%, 8/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 8043  | 8014  | 8201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193011037.SRDLC, 15.74%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1758  | 1758  | 316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193013525.SRDLC, 31.89%, 8/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 2297  | 2307  | 2371  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193015947.SRDLC, 23.74%, 1/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1908  | 1908  | 1898  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193016420.SRDLC, 24.69%, 8/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 9242  | 9242  | 9398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193016442.SRDLC, 24.49%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 1081  | 1082  | 1092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193018530.SRDLC, 22.24%, 9/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 354  | 354  | 351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193019713.SRDLC, 23.49%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 1781  | 1781  | 1802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193025123.SRDLC, 18.74%, 8/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 5409  | 5463  | 484  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193043888.SRDLC, 18.49%, 9/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2022 | 870  | 868  | 870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193049189.SRDLC, 25.49%, 8/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 2854  | 2882  | 255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193051392.SRDLC, 24.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2022 | 12839  | 12758  | 12939  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193051775.SRDLC, 24.49%, 9/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2022 | 3502  | 3467  | 3515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193067174.SRDLC, 10.79%, 9/3/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 14634  | 14634  | 1308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193070371.SRDLC, 30.99%, 5/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2022 | 4254  | 4282  | 4401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193079923.SRDLC, 20.99%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 418  | 422  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193081235.SRDLC, 16.19%, 8/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2022 | 8249  | 8249  | 738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193085767.SRDLC, 27.74%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 2290  | 2313  | 749  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **48** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 193085811.SRDLC, 22.49%, 8/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | $4216  | $4193  | $4252  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193088858.SRDLC, 28.99%, 8/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 7042  | 7089  | 7368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193089979.SRDLC, 23.49%, 8/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 1827  | 1845  | 600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193106592.SRDLC, 24.49%, 9/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2022 | 5336  | 5336  | 5403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193107288.SRDLC, 23.99%, 8/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 15270  | 15186  | 15584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193109985.SRDLC, 32.39%, 9/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 3583  | 3592  | 320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193110078.SRDLC, 20.99%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 288  | 288  | 287  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193110115.SRDLC, 20.99%, 9/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 537  | 537  | 536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193110550.SRDLC, 22.99%, 7/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2022 | 4626  | 4672  | 1253  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193120148.SRDLC, 28.99%, 8/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 14699  | 14846  | 1314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193124504.SRDLC, 27.24%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 153  | 153  | 153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193127470.SRDLC, 30.99%, 9/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2022 | 1594  | 1597  | 1604  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193132810.SRDLC, 24.49%, 8/31/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 5886  | 5919  | 6173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193147466.SRDLC, 23.99%, 9/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2022 | 25793  | 25793  | 2306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193150159.SRDLC, 30.99%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/2/2022 | 895  | 904  | 80  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193178153.SRDLC, 9.59%, 9/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 9773  | 9773  | 9595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193178177.SRDLC, 17.19%, 9/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 17250  | 17142  | 17216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193185229.SRDLC, 30.99%, 9/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 3478  | 3486  | 311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193213965.SRDLC, 26.99%, 9/22/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2022 | 1627  | 1627  | 1655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193225539.SRDLC, 32.39%, 9/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 7455  | 7473  | 666  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193245917.SRDLC, 15.99%, 9/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 1217  | 1215  | 1213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193273526.SRDLC, 25.99%, 9/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 791  | 792  | 791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193279016.SRDLC, 9.59%, 9/2/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2022 | 1145  | 1143  | 1139  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193287070.SRDLC, 18.19%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1107  | 1102  | 1126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193294673.SRDLC, 20.44%, 9/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 11636  | 11636  | 1040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193299697.SRDLC, 13.99%, 9/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 924  | 923  | 919  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193309315.SRDLC, 15.99%, 9/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1351  | 1349  | 1347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193322974.SRDLC, 31.74%, 9/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 3448  | 3456  | 308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193330824.SRDLC, 22.74%, 10/11/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 9165  | 9111  | 9183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193333795.SRDLC, 25.99%, 9/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2022 | 945  | 946  | 946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193341840.SRDLC, 32.39%, 9/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2022 | 9161  | 9252  | 819  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193347562.SRDLC, 18.24%, 9/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2022 | 2585  | 2588  | 2584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193348242.SRDLC, 25.49%, 9/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 5095  | 5126  | 5357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193355104.SRDLC, 10.79%, 9/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2022 | 5573  | 5553  | 5557  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193359361.SRDLC, 24.24%, 9/9/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2022 | 320  | 319  | 320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193378827.SRDLC, 15.99%, 9/27/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 10348  | 10244  | 925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193392433.SRDLC, 21.49%, 9/8/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2022 | 899  | 900  | 899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193401898.SRDLC, 28.99%, 9/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 1302  | 1300  | 1294  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193402913.SRDLC, 26.49%, 9/16/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2022 | 2646  | 2620  | 237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193405242.SRDLC, 24.49%, 9/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 702  | 700  | 699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193413820.SRDLC, 32.39%, 10/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2022 | 4666  | 4713  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193427219.SRDLC, 28.99%, 9/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2022 | 4078  | 4069  | 4065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193432417.SRDLC, 13.69%, 9/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 19431  | 19236  | 1737  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193442527.SRDLC, 25.99%, 9/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 582  | 583  | 588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193469852.SRDLC, 14.54%, 9/27/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 642  | 648  | 111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193490277.SRDLC, 25.99%, 9/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 226  | 227  | 227  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193491097.SRDLC, 25.49%, 4/12/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 4539  | 4585  | 2950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193514957.SRDLC, 24.99%, 9/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2022 | 20290  | 20163  | 20415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193519115.SRDLC, 30.99%, 1/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2022 | 2049  | 2070  | 183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193543089.SRDLC, 25.19%, 9/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2022 | 6237  | 6174  | 6301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193565598.SRDLC, 15.99%, 9/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2022 | 367  | 366  | 366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193602909.SRDLC, 24.49%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2022 | 5681  | 5716  | 6002  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **49** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 193639194.SRDLC, 20.49%, 9/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2022 | $6972  | $6902  | $623  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193640201.SRDLC, 32.39%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2022 | 4671  | 4624  | 4725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193645928.SRDLC, 19.49%, 4/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2022 | 2160  | 2164  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193693368.SRDLC, 19.99%, 9/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 636  | 637  | 640  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193696796.SRDLC, 32.39%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2022 | 13491  | 13580  | 14259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193704775.SRDLC, 20.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2022 | 6272  | 6281  | 6433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193709519.SRDLC, 9.09%, 9/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 762  | 761  | 762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193712658.SRDLC, 29.74%, 9/28/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 1184  | 1186  | 1205  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193719168.SRDLC, 22.49%, 9/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2022 | 6357  | 6318  | 6353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193722521.SRDLC, 30.99%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 16355  | 16470  | 17328  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193741451.SRDLC, 29.99%, 9/5/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2022 | 842  | 844  | 846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193814373.SRDLC, 30.99%, 9/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2022 | 663  | 664  | 671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193845623.SRDLC, 20.24%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 7014  | 6944  | 627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193847911.SRDLC, 20.19%, 9/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 1380  | 1366  | 251  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193864910.SRDLC, 12.69%, 9/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 3251  | 3245  | 3251  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193891725.SRDLC, 14.19%, 9/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2022 | 22063  | 21843  | 1972  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193897869.SRDLC, 23.49%, 9/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 9855  | 9756  | 2429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193900889.SRDLC, 22.49%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 12643  | 12565  | 12691  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193904883.SRDLC, 30.99%, 9/23/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2022 | 1221  | 1234  | 109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193919332.SRDLC, 30.99%, 10/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 4530  | 4485  | 405  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193925110.SRDLC, 19.19%, 1/26/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 1273  | 1261  | 114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193939471.SRDLC, 32.39%, 10/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2022 | 4581  | 4592  | 4785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193940880.SRDLC, 22.49%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 12395  | 12319  | 12442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193956137.SRDLC, 24.99%, 10/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2022 | 18765  | 18953  | 1678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193976442.SRDLC, 15.00%, 5/31/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 4494  | 4519  | 4364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193981563.SRDLC, 25.49%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 5540  | 5505  | 5610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193990313.SRDLC, 27.99%, 9/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 1677  | 1694  | 150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193993362.SRDLC, 23.99%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 9743  | 9797  | 10301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 193996097.SRDLC, 22.99%, 9/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2022 | 1657  | 1673  | 148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194006210.SRDLC, 19.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2022 | 11309  | 11227  | 11256  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194027078.SRDLC, 29.99%, 10/4/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2022 | 260  | 260  | 260  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194040422.SRDLC, 20.99%, 9/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2022 | 626  | 627  | 630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194051376.SRDLC, 13.19%, 10/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2022 | 17438  | 17338  | 17498  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194073006.SRDLC, 25.99%, 9/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2022 | 4302  | 4274  | 4278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194126529.SRDLC, 28.99%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2022 | 4030  | 4003  | 4278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194127079.SRDLC, 30.99%, 10/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 944  | 945  | 962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194158910.SRDLC, 16.49%, 10/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2022 | 8312  | 8263  | 8255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194236594.SRDLC, 24.94%, 2/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2022 | 5899  | 5840  | 527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194256083.SRDLC, 26.49%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2022 | 4204  | 4209  | 4261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194264252.SRDLC, 25.44%, 10/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/14/2022 | 7502  | 7453  | 7513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194266501.SRDLC, 30.99%, 10/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 1181  | 1181  | 1193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194279737.SRDLC, 19.24%, 10/4/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2022 | 4661  | 4666  | 4722  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194290005.SRDLC, 32.39%, 10/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7730  | 7808  | 691  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194324741.SRDLC, 32.39%, 10/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2022 | 13795  | 13818  | 14447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194326877.SRDLC, 27.24%, 10/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 2728  | 2729  | 2756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194363819.SRDLC, 30.99%, 3/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2022 | 2160  | 2182  | 1728  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194389212.SRDLC, 32.39%, 10/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 10253  | 10186  | 10851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194389850.SRDLC, 22.99%, 10/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 2234  | 2235  | 2244  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194389865.SRDLC, 10.79%, 10/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 664  | 663  | 661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194405751.SRDLC, 16.49%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 8413  | 8363  | 8284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194424781.SRDLC, 18.49%, 10/21/2024 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2022 | 3077  | 3108  | 275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194430048.SRDLC, 15.19%, 10/14/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1987  | 1983  | 1983  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **50** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 194431904.SRDLC, 24.49%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | $6472  | $6430  | $6452  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194455826.SRDLC, 21.24%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 12572  | 12494  | 12522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194459017.SRDLC, 23.99%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 16260  | 16260  | 17019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194479316.SRDLC, 11.29%, 2/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2022 | 4323  | 4306  | 3950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194484669.SRDLC, 20.99%, 10/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 958  | 967  | 86  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194515534.SRDLC, 7.09%, 10/14/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3271  | 3266  | 3250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194532233.SRDLC, 30.99%, 10/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2022 | 1282  | 1294  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194535429.SRDLC, 24.49%, 10/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2022 | 5824  | 5786  | 5832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194541112.SRDLC, 19.94%, 11/3/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 5847  | 5829  | 5782  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194547766.SRDLC, 15.99%, 10/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/14/2022 | 1551  | 1551  | 1548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194563879.SRDLC, 15.00%, 2/12/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/14/2022 | 11093  | 11202  | 9935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194567488.SRDLC, 24.49%, 10/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2022 | 10087  | 10019  | 10095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194587361.SRDLC, 28.99%, 10/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2022 | 3359  | 3336  | 3568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194593499.SRDLC, 28.99%, 3/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 1407  | 1392  | 1390  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194595358.SRDLC, 17.94%, 10/19/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2022 | 1125  | 1122  | 1123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194611665.SRDLC, 12.69%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 12143  | 12074  | 12220  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194633979.SRDLC, 10.79%, 10/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 1684  | 1668  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194641816.SRDLC, 31.89%, 10/14/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4977  | 4986  | 5067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194661580.SRDLC, 24.99%, 10/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2022 | 7826  | 7810  | 7875  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194662189.SRDLC, 10.00%, 2/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 1666  | 1682  | 1620  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194678308.SRDLC, 22.49%, 10/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 5315  | 5262  | 475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194686661.SRDLC, 31.89%, 10/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 918  | 927  | 51  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194699714.SRDLC, 26.49%, 10/17/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 781  | 779  | 782  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194707601.SRDLC, 22.99%, 2/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/2/2022 | 3037  | 3045  | 544  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194714833.SRDLC, 22.01%, 10/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2022 | 4523  | 4568  | 404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194750419.SRDLC, 21.49%, 10/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2022 | 653  | 653  | 653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194755673.SRDLC, 24.49%, 10/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2022 | 3882  | 3856  | 3905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194763161.SRDLC, 15.00%, 3/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2022 | 1773  | 1786  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194767039.SRDLC, 30.99%, 10/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2022 | 12251  | 12129  | 1095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194773712.SRDLC, 25.99%, 1/21/2025 (a)(n)(r)(s) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2022 | 339  | 342  | 30  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194778572.SRDLC, 15.99%, 10/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2022 | 362  | 362  | 363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194780861.SRDLC, 16.49%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2022 | 7211  | 7168  | 7118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194828658.SRDLC, 10.00%, 3/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2022 | 3808  | 3772  | 3516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194840160.SRDLC, 15.99%, 10/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 4269  | 4251  | 4236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194847279.SRDLC, 28.99%, 10/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 1111  | 1108  | 1111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194852386.SRDLC, 28.99%, 11/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 11865  | 11749  | 12400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194871645.SRDLC, 10.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 10159  | 10101  | 9994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194880827.SRDLC, 19.49%, 10/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 4365  | 4341  | 4307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194884506.SRDLC, 22.99%, 10/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 3894  | 3864  | 3965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194888757.SRDLC, 30.99%, 10/24/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 2160  | 2181  | 193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194899015.SRDLC, 25.49%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 12759  | 12672  | 12862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194921409.SRDLC, 30.49%, 10/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2022 | 5746  | 5802  | 6066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194924304.SRDLC, 22.49%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2022 | 12914  | 12914  | 11102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194927100.SRDLC, 27.99%, 3/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 2538  | 2548  | 2580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194930289.SRDLC, 28.99%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 4030  | 4037  | 4270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194930783.SRDLC, 22.49%, 10/24/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 649  | 647  | 649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194956587.SRDLC, 20.74%, 5/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 9569  | 9473  | 855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194964122.SRDLC, 12.69%, 11/1/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 2252  | 2247  | 2234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194968095.SRDLC, 25.49%, 10/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2022 | 1944  | 1964  | 174  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194969316.SRDLC, 24.49%, 10/24/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 10757  | 10650  | 962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194974891.SRDLC, 6.00%, 10/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2022 | 1737  | 1733  | 1750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194975652.SRDLC, 22.24%, 10/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2022 | 15224  | 15128  | 15241  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **51** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 194986912.SRDLC, 18.69%, 10/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2022 | $498  | $497  | $499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194989209.SRDLC, 14.54%, 10/26/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2022 | 6877  | 6808  | 615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 194999605.SRDLC, 29.99%, 10/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2022 | 177  | 178  | 178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195004526.SRDLC, 11.19%, 10/27/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 8149  | 8068  | 729  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195008403.SRDLC, 15.94%, 10/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 6122  | 6061  | 547  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195013431.SRDLC, 30.99%, 6/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2022 | 1718  | 1735  | 121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195016998.SRDLC, 10.49%, 11/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 6490  | 6470  | 6480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195018882.SRDLC, 19.69%, 3/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2022 | 2487  | 2468  | 2473  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195028406.SRDLC, 28.99%, 10/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2022 | 4030  | 4037  | 4285  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195096186.SRDLC, 21.99%, 10/27/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 4249  | 4292  | 380  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195097176.SRDLC, 21.99%, 10/31/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/2/2022 | 3975  | 3978  | 3959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195116475.SRDLC, 25.99%, 10/27/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 1615  | 1616  | 1633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195123243.SRDLC, 32.39%, 2/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2022 | 8859  | 8881  | 9284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195175667.SRDLC, 27.74%, 10/28/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2022 | 2684  | 2691  | 240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195186093.SRDLC, 16.49%, 11/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 5791  | 5733  | 518  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195192111.SRDLC, 30.99%, 11/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2022 | 666  | 664  | 657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195199696.SRDLC, 18.24%, 11/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 2391  | 2385  | 2356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195208923.SRDLC, 22.49%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2022 | 2103  | 2085  | 2087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195241358.SRDLC, 14.69%, 11/19/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 1825  | 1820  | 1818  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195252772.SRDLC, 15.19%, 11/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 4170  | 4129  | 373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195262520.SRDLC, 9.59%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 23034  | 22860  | 22580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195269918.SRDLC, 25.99%, 11/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 3785  | 3748  | 2741  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195271773.SRDLC, 20.49%, 11/7/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 367  | 366  | 364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195283712.SRDLC, 32.39%, 11/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 5918  | 5929  | 6160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195297116.SRDLC, 14.19%, 11/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 3306  | 3273  | 2062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195308227.SRDLC, 18.24%, 11/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2022 | 2218  | 2212  | 2189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195316572.SRDLC, 15.19%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2022 | 9446  | 9370  | 9378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195343443.SRDLC, 21.49%, 11/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2022 | 4195  | 4197  | 4291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195391011.SRDLC, 31.89%, 11/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2022 | 4088  | 4098  | 365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195427018.SRDLC, 32.39%, 11/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2022 | 7022  | 6952  | 628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195434373.SRDLC, 18.44%, 11/25/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2022 | 271  | 270  | 270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195470601.SRDLC, 26.49%, 11/16/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2022 | 4753  | 4765  | 1534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195477282.SRDLC, 23.99%, 11/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2022 | 2041  | 2034  | 2018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195518264.SRDLC, 25.49%, 11/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2022 | 22633  | 22407  | 2023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195620530.SRDLC, 28.99%, 11/28/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/23/2022 | 413  | 411  | 412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195650327.SRDLC, 25.24%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2022 | 22701  | 22499  | 22757  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195674668.SRDLC, 16.94%, 11/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2022 | 2453  | 2445  | 2449  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195681577.SRDLC, 22.49%, 11/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/23/2022 | 700  | 698  | 697  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195694244.SRDLC, 15.79%, 7/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/23/2022 | 13406  | 13301  | 13230  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195708074.SRDLC, 20.99%, 11/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2022 | 1602  | 1602  | 1603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195752901.SRDLC, 22.99%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/2/2022 | 1354  | 1345  | 1383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195792140.SRDLC, 23.55%, 11/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2022 | 4044  | 4046  | 4068  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195803976.SRDLC, 18.74%, 11/23/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2022 | 1442  | 1438  | 1442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195818130.SRDLC, 23.99%, 11/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 4222  | 4163  | 377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195822367.SRDLC, 27.99%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2022 | 794  | 794  | 805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195845073.SRDLC, 29.49%, 11/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 966  | 963  | 966  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195846687.SRDLC, 17.29%, 9/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2022 | 15683  | 15527  | 8942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195851937.SRDLC, 22.99%, 11/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 13095  | 12912  | 1171  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195854400.SRDLC, 25.99%, 11/29/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 5760  | 5680  | 515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195912415.SRDLC, 12.29%, 11/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 2089  | 2082  | 2077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195915447.SRDLC, 5.00%, 11/29/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 8742  | 8651  | 8620  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195916983.SRDLC, 15.99%, 11/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 2801  | 2792  | 2805  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **52** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 195917993.SRDLC, 24.24%, 11/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | $5033  | $4998  | $5133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195919396.SRDLC, 17.19%, 12/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 11486  | 11325  | 1027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195925885.SRDLC, 12.29%, 11/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 2241  | 2235  | 2238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195931122.SRDLC, 25.74%, 11/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2022 | 21032  | 20738  | 5443  |
| &nbsp;&nbsp;&nbsp;&nbsp; 195935180.SRDLC, 11.79%, 11/30/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/2/2022 | 7132  | 7111  | 7114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203116318.SRDLC, 26.99%, 8/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/14/2023 | 5714  | 5577  | 5674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203129024.SRDLC, 13.99%, 7/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2023 | 2335  | 2301  | 2304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203172623.SRDLC, 14.24%, 8/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2982  | 2947  | 2932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203209922.SRDLC, 22.99%, 8/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2023 | 13232  | 13029  | 13090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203216447.SRDLC, 22.74%, 8/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2023 | 31575  | 30964  | 30695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203246842.SRDLC, 28.49%, 8/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 4390  | 4319  | 4456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203262395.SRDLC, 13.99%, 8/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3225  | 3179  | 3189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203311377.SRDLC, 9.74%, 8/14/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 3613  | 3523  | 323  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203328742.SRDLC, 19.99%, 8/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 518  | 510  | 514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203351627.SRDLC, 18.99%, 8/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2023 | 5159  | 5061  | 4993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203357003.SRDLC, 13.24%, 8/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 4934  | 4876  | 4847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203361591.SRDLC, 28.99%, 8/28/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 2614  | 2598  | 2664  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203372576.SRDLC, 8.24%, 9/1/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 18353  | 17894  | 1641  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203384876.SRDLC, 15.24%, 8/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 22393  | 21980  | 21891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203387156.SRDLC, 12.99%, 8/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 4432  | 4379  | 4355  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203395977.SRDLC, 19.24%, 8/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 5688  | 5546  | 883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203419163.SRDLC, 7.00%, 8/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 11762  | 11548  | 11645  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203419416.SRDLC, 8.24%, 8/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 13981  | 13823  | 13814  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203419446.SRDLC, 32.39%, 8/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 12324  | 12020  | 12650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203426984.SRDLC, 24.99%, 8/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3313  | 3214  | 879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203431150.SRDLC, 15.49%, 8/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2023 | 12841  | 12595  | 12633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203437872.SRDLC, 19.99%, 8/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4404  | 4338  | 4367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203441299.SRDLC, 9.74%, 8/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2023 | 14895  | 14722  | 14719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203446752.SRDLC, 32.39%, 8/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2023 | 12324  | 12020  | 12641  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203447133.SRDLC, 13.74%, 8/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 9905  | 9786  | 9744  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203451571.SRDLC, 11.74%, 8/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 15883  | 15597  | 15595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203451595.SRDLC, 20.99%, 8/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1826  | 1798  | 1810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203454135.SRDLC, 5.00%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 6408  | 6216  | 6348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203454561.SRDLC, 32.39%, 8/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2023 | 12634  | 12336  | 12816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203457275.SRDLC, 30.99%, 8/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2023 | 852  | 838  | 864  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203461601.SRDLC, 15.74%, 12/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2023 | 5113  | 5033  | 5002  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203461803.SRDLC, 10.99%, 8/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 1723  | 1692  | 1714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203470947.SRDLC, 26.49%, 8/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 1967  | 1919  | 1953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203474872.SRDLC, 24.74%, 8/11/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3932  | 3833  | 943  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203475094.SRDLC, 24.99%, 8/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 538  | 530  | 534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203479073.SRDLC, 10.74%, 8/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 26788  | 26308  | 26367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203483431.SRDLC, 14.74%, 8/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1049  | 1029  | 1052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203484384.SRDLC, 30.49%, 8/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2023 | 19412  | 18830  | 1735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203486393.SRDLC, 11.49%, 8/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2023 | 7275  | 7143  | 7170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203487312.SRDLC, 21.24%, 9/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 28675  | 28192  | 28718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203493614.SRDLC, 29.99%, 8/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 4942  | 4823  | 5068  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203494811.SRDLC, 24.99%, 8/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 1334  | 1313  | 1321  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203495199.SRDLC, 19.49%, 8/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 31106  | 30518  | 30136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203499904.SRDLC, 12.99%, 12/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2023 | 30445  | 29684  | 29801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203499985.SRDLC, 10.49%, 8/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 4059  | 4011  | 3999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203504176.SRDLC, 26.99%, 8/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 2748  | 2704  | 2784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203504303.SRDLC, 15.24%, 8/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 14929  | 14651  | 14638  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **53** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 203510721.SRDLC, 14.49%, 8/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2023 | $4085  | $4010  | $4018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203512211.SRDLC, 28.49%, 8/16/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/14/2023 | 3657  | 3547  | 1003  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203515589.SRDLC, 9.74%, 8/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2023 | 961  | 950  | 949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203516782.SRDLC, 7.24%, 8/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/14/2023 | 7540  | 7454  | 7468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203520321.SRDLC, 10.24%, 8/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2023 | 7235  | 7150  | 7121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203520590.SRDLC, 24.99%, 8/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2023 | 13406  | 13193  | 13417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203521395.SRDLC, 17.24%, 8/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/14/2023 | 31248  | 30511  | 30568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203533345.SRDLC, 11.99%, 8/14/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 17575  | 17136  | 1571  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203537628.SRDLC, 20.99%, 8/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 627  | 617  | 622  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203545003.SRDLC, 29.99%, 8/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 1333  | 1311  | 1352  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203548820.SRDLC, 10.99%, 8/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 10154  | 9971  | 10002  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203561448.SRDLC, 10.34%, 8/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/14/2023 | 7241  | 7156  | 7154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203565404.SRDLC, 28.99%, 8/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 209  | 208  | 212  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203566046.SRDLC, 28.99%, 8/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 6464  | 6308  | 6651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203567747.SRDLC, 32.39%, 8/16/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 13426  | 13023  | 1200  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203570882.SRDLC, 17.24%, 8/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 30242  | 29673  | 29640  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203573713.SRDLC, 29.49%, 8/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 1720  | 1683  | 1733  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203576237.SRDLC, 27.99%, 8/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/18/2023 | 6432  | 6277  | 6622  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203592212.SRDLC, 20.99%, 8/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 1321  | 1300  | 1314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203601173.SRDLC, 28.99%, 8/31/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/22/2023 | 551  | 548  | 560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203609082.SRDLC, 12.99%, 8/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 18381  | 18046  | 18018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203611919.SRDLC, 15.00%, 1/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2023 | 23911  | 23316  | 18210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203614218.SRDLC, 8.24%, 8/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 8549  | 8450  | 8451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203621777.SRDLC, 9.74%, 8/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 2528  | 2499  | 2499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203623021.SRDLC, 8.24%, 8/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/28/2023 | 8549  | 8448  | 8459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203626028.SRDLC, 7.24%, 8/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 6126  | 6055  | 6070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203626073.SRDLC, 14.74%, 8/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 11749  | 11557  | 11710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203633630.SRDLC, 15.49%, 1/14/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 35776  | 34882  | 6379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203634690.SRDLC, 20.99%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2023 | 3715  | 3648  | 3592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203638248.SRDLC, 9.49%, 8/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 15885  | 15691  | 15718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203638648.SRDLC, 9.74%, 8/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 7208  | 7122  | 7126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203643192.SRDLC, 30.49%, 8/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 20353  | 19836  | 20992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203645977.SRDLC, 21.24%, 8/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/16/2023 | 19366  | 18993  | 18940  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203647546.SRDLC, 18.99%, 9/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 15558  | 15199  | 15630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203656810.SRDLC, 13.49%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2023 | 20736  | 20401  | 20774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203666719.SRDLC, 12.73%, 8/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/17/2023 | 2863  | 2828  | 2823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203669529.SRDLC, 7.00%, 8/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 9407  | 9298  | 9323  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203705262.SRDLC, 15.99%, 8/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2023 | 4280  | 4215  | 4255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203709129.SRDLC, 9.74%, 8/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 4805  | 4748  | 4752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203711930.SRDLC, 14.24%, 8/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 1740  | 1718  | 1718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203715269.SRDLC, 7.24%, 8/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 1649  | 1630  | 1634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203717864.SRDLC, 13.49%, 8/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 8433  | 8330  | 8279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203720575.SRDLC, 13.74%, 8/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/21/2023 | 12678  | 12524  | 12486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203721454.SRDLC, 17.74%, 8/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 20516  | 20003  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203732053.SRDLC, 12.49%, 8/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/23/2023 | 6643  | 6562  | 6543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203738755.SRDLC, 10.99%, 8/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2023 | 968  | 956  | 957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203768698.SRDLC, 9.49%, 8/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 21529  | 21138  | 21233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203779390.SRDLC, 12.99%, 8/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/24/2023 | 9674  | 9518  | 9718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203779740.SRDLC, 13.74%, 8/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/25/2023 | 2383  | 2354  | 2348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203792186.SRDLC, 13.74%, 9/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 6685  | 6544  | 6681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203810114.SRDLC, 9.49%, 8/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 6522  | 6444  | 6454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203816676.SRDLC, 15.74%, 8/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 14977  | 14696  | 14728  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **54** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 203830149.SRDLC, 16.46%, 8/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | $3303  | $3249  | $3310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203830171.SRDLC, 11.24%, 8/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 18184  | 17851  | 17856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203830989.SRDLC, 20.75%, 9/5/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 11050  | 10836  | 10646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203836638.SRDLC, 11.99%, 9/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2023 | 11266  | 11057  | 11028  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203838024.SRDLC, 9.74%, 9/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 5085  | 5023  | 5019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203853264.SRDLC, 15.49%, 8/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 3763  | 3715  | 3721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203859318.SRDLC, 10.24%, 8/31/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 14485  | 14308  | 14259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203862282.SRDLC, 19.99%, 8/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 877  | 857  | 872  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203862370.SRDLC, 9.74%, 8/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | 9610  | 9494  | 9510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203867193.SRDLC, 8.24%, 8/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2023 | 1783  | 1775  | 1781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203875110.SRDLC, 8.99%, 8/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2023 | 8838  | 8731  | 8748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203878978.SRDLC, 7.17%, 9/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 6421  | 6343  | 6357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203883383.SRDLC, 10.74%, 9/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 14711  | 14471  | 14743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203895315.SRDLC, 7.89%, 8/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/1/2023 | 10230  | 10109  | 10126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203901815.SRDLC, 27.99%, 8/29/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/31/2023 | 22335  | 21665  | 1997  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203912524.SRDLC, 9.99%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 18014  | 17686  | 17733  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203931557.SRDLC, 19.24%, 9/12/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 10918  | 10645  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203935388.SRDLC, 15.49%, 9/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 22380  | 21958  | 21849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203936470.SRDLC, 7.24%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 14228  | 14056  | 14088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203943135.SRDLC, 16.24%, 9/5/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 16919  | 16496  | 1513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203947876.SRDLC, 12.99%, 9/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 12017  | 11821  | 12017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203951630.SRDLC, 11.99%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 5944  | 5869  | 5841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203951950.SRDLC, 10.74%, 9/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 13768  | 13548  | 13772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203963255.SRDLC, 10.74%, 9/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 12563  | 12334  | 12356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203966956.SRDLC, 15.49%, 9/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 9904  | 9717  | 9669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203969300.SRDLC, 31.89%, 9/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 4091  | 4001  | 4084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203970650.SRDLC, 13.49%, 9/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2023 | 8361  | 8253  | 8163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203980955.SRDLC, 26.49%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 5841  | 5745  | 5817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203981929.SRDLC, 9.25%, 9/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 6486  | 6407  | 6398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203986355.SRDLC, 24.99%, 9/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4528  | 4392  | 405  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203986859.SRDLC, 12.49%, 9/5/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3993  | 3893  | 357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203987377.SRDLC, 9.74%, 9/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 7628  | 7534  | 7529  |
| &nbsp;&nbsp;&nbsp;&nbsp; 203990508.SRDLC, 30.99%, 9/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2023 | 5018  | 4894  | 5118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204006194.SRDLC, 15.99%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 9551  | 9370  | 9333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204006936.SRDLC, 26.99%, 9/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 2851  | 2803  | 2873  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204007369.SRDLC, 6.91%, 9/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 9213  | 9103  | 9119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204011199.SRDLC, 12.99%, 10/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2023 | 19876  | 19500  | 19371  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204011210.SRDLC, 19.49%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 7077  | 6983  | 6900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204011230.SRDLC, 12.24%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 30014  | 29457  | 29511  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204015353.SRDLC, 31.89%, 9/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 11250  | 11000  | 11263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204015411.SRDLC, 11.74%, 9/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2023 | 11350  | 11209  | 11150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204015417.SRDLC, 8.24%, 9/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 7544  | 7453  | 7447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204033628.SRDLC, 19.49%, 9/18/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 7034  | 6858  | 629  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204034397.SRDLC, 14.74%, 9/11/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 11586  | 11296  | 1036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204043534.SRDLC, 13.49%, 9/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2023 | 10970  | 10831  | 10738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204050055.SRDLC, 20.99%, 9/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2023 | 2749  | 2705  | 2723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204052415.SRDLC, 17.49%, 9/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 12890  | 12720  | 12673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204054285.SRDLC, 13.49%, 9/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 6668  | 6558  | 6681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204055143.SRDLC, 21.49%, 9/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 4689  | 4614  | 4636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204061116.SRDLC, 14.74%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 8959  | 8844  | 8810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204062213.SRDLC, 16.24%, 9/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 21755  | 21340  | 21307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204065000.SRDLC, 15.49%, 9/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2023 | 15542  | 15248  | 15201  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **55** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204110223.SRDLC, 14.49%, 9/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/14/2023 | $13656  | $13399  | $13391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204121557.SRDLC, 22.99%, 9/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2023 | 2836  | 2765  | 2836  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204122257.SRDLC, 31.89%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2023 | 11306  | 11057  | 11321  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204129331.SRDLC, 8.24%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 5281  | 5216  | 5215  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204131981.SRDLC, 19.49%, 9/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 10512  | 10250  | 10204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204134551.SRDLC, 32.39%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 8341  | 8092  | 8451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204136163.SRDLC, 24.99%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 564  | 555  | 561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204136555.SRDLC, 12.99%, 9/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 18749  | 18399  | 18374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204137266.SRDLC, 10.26%, 9/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 29465  | 28924  | 29009  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204138929.SRDLC, 14.24%, 9/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2023 | 6365  | 6206  | 569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204148665.SRDLC, 17.24%, 9/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2023 | 30799  | 30206  | 30204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204151143.SRDLC, 11.62%, 9/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2023 | 5670  | 5597  | 5587  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204157948.SRDLC, 10.99%, 9/11/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 3970  | 3851  | 355  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204159589.SRDLC, 16.99%, 9/11/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2023 | 474  | 471  | 475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204166856.SRDLC, 19.24%, 9/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/22/2023 | 10128  | 9931  | 9844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204183286.SRDLC, 14.24%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/22/2023 | 10503  | 10367  | 10351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204187223.SRDLC, 32.39%, 9/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 8330  | 8122  | 8467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204187639.SRDLC, 12.50%, 5/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 33935  | 33151  | 25095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204191985.SRDLC, 24.99%, 9/14/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 1668  | 1618  | 149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204196251.SRDLC, 9.24%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/22/2023 | 5573  | 5503  | 5508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204202854.SRDLC, 15.75%, 9/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/22/2023 | 17111  | 16784  | 16802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204204050.SRDLC, 14.24%, 9/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2023 | 1575  | 1554  | 1557  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204210805.SRDLC, 15.99%, 9/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 5316  | 5232  | 5269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204214468.SRDLC, 30.99%, 2/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 11605  | 11199  | 3064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204224192.SRDLC, 9.99%, 9/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2023 | 9764  | 9606  | 9771  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204225759.SRDLC, 10.74%, 10/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 18847  | 18496  | 18505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204229898.SRDLC, 23.99%, 9/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2023 | 498  | 495  | 503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204230106.SRDLC, 29.99%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2023 | 6171  | 6034  | 6084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204240771.SRDLC, 31.99%, 9/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2023 | 4157  | 4053  | 4256  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204246775.SRDLC, 10.99%, 9/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2023 | 14418  | 14058  | 2215  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204263898.SRDLC, 9.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 9710  | 9550  | 9689  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204269082.SRDLC, 8.24%, 9/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 3772  | 3725  | 3730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204271092.SRDLC, 10.34%, 9/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 28302  | 27780  | 27905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204271776.SRDLC, 10.94%, 9/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 17037  | 16758  | 17050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204286161.SRDLC, 18.99%, 9/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2023 | 14362  | 14078  | 14011  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204288094.SRDLC, 14.49%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 5538  | 5464  | 5410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204292640.SRDLC, 21.49%, 9/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2023 | 1655  | 1628  | 1646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204292960.SRDLC, 32.39%, 9/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/21/2023 | 12494  | 12182  | 12809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204295212.SRDLC, 9.24%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2023 | 10596  | 10461  | 10475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204310629.SRDLC, 30.99%, 9/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/22/2023 | 5924  | 5818  | 6030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204322219.SRDLC, 22.99%, 10/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 4872  | 4735  | 4961  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204323494.SRDLC, 30.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 1961  | 1919  | 1985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204334194.SRDLC, 27.49%, 9/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2023 | 5159  | 5070  | 5257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204334859.SRDLC, 15.49%, 10/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 12647  | 12405  | 12291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204351331.SRDLC, 22.99%, 9/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 13964  | 13727  | 13964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204354172.SRDLC, 28.49%, 10/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/28/2023 | 4912  | 4767  | 3929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204356087.SRDLC, 21.99%, 9/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 5556  | 5463  | 5533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204357965.SRDLC, 10.46%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 11437  | 11249  | 11406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204365736.SRDLC, 22.49%, 9/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2023 | 1587  | 1540  | 142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204368204.SRDLC, 24.74%, 10/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 1182  | 1164  | 1162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204377853.SRDLC, 10.49%, 10/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2023 | 4711  | 4633  | 4708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204379080.SRDLC, 10.12%, 10/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 3226  | 3184  | 3183  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **56** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204381183.SRDLC, 30.99%, 9/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2023 | $3513  | $3441  | $3593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204384797.SRDLC, 13.49%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2023 | 27442  | 26980  | 27389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204393944.SRDLC, 7.99%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4768  | 4707  | 4704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204404676.SRDLC, 28.99%, 9/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2023 | 1548  | 1536  | 1581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204432472.SRDLC, 9.99%, 10/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 5587  | 5515  | 5509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204435865.SRDLC, 11.62%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 13038  | 12866  | 12771  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204441168.SRDLC, 16.99%, 10/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 5478  | 5372  | 5332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204448443.SRDLC, 28.49%, 4/27/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/29/2023 | 4796  | 4652  | 429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204456266.SRDLC, 13.74%, 10/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7864  | 7667  | 703  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204466314.SRDLC, 32.39%, 10/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2023 | 5064  | 4914  | 5186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204468340.SRDLC, 8.24%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7961  | 7859  | 7853  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204469238.SRDLC, 9.49%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1606  | 1585  | 1584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204469648.SRDLC, 30.49%, 10/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 8997  | 8738  | 9062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204471173.SRDLC, 32.39%, 10/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2023 | 10131  | 9834  | 10196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204471480.SRDLC, 26.99%, 2/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 3459  | 3366  | 3418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204508979.SRDLC, 22.49%, 10/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 6418  | 6287  | 6372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204517405.SRDLC, 30.49%, 10/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2023 | 6327  | 6143  | 6280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204517947.SRDLC, 27.49%, 10/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/6/2023 | 16854  | 16382  | 17010  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204532190.SRDLC, 30.99%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 1443  | 1413  | 1448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204533254.SRDLC, 32.39%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 4839  | 4699  | 4900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204534263.SRDLC, 22.99%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/5/2023 | 1754  | 1719  | 1736  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204537671.SRDLC, 12.99%, 10/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 8159  | 8050  | 7993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204540186.SRDLC, 31.89%, 10/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 3651  | 3555  | 3632  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204548026.SRDLC, 7.24%, 10/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 12764  | 12600  | 12637  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204557255.SRDLC, 30.99%, 10/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2023 | 4295  | 4205  | 4302  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204559321.SRDLC, 20.99%, 10/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2023 | 2310  | 2264  | 2283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204560285.SRDLC, 24.49%, 11/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 1963  | 1941  | 1982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204562846.SRDLC, 24.99%, 10/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 1775  | 1739  | 1760  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204565547.SRDLC, 32.39%, 10/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2023 | 9419  | 9089  | 9562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204575583.SRDLC, 25.99%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 5869  | 5749  | 5820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204581649.SRDLC, 26.99%, 10/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4904  | 4732  | 438  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204583517.SRDLC, 24.49%, 10/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2023 | 1494  | 1455  | 1480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204587454.SRDLC, 32.39%, 10/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2023 | 21206  | 20580  | 21563  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204588836.SRDLC, 28.99%, 10/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2023 | 4627  | 4547  | 4709  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204588997.SRDLC, 12.74%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 22899  | 22464  | 22457  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204594269.SRDLC, 21.49%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7819  | 7664  | 7740  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204595690.SRDLC, 26.99%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3975  | 3840  | 3994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204598441.SRDLC, 29.49%, 10/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 21132  | 20529  | 21474  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204602413.SRDLC, 15.99%, 10/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 3076  | 3017  | 3043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204607632.SRDLC, 26.49%, 2/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 12491  | 12054  | 12195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204609441.SRDLC, 15.74%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 10023  | 9829  | 9781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204610980.SRDLC, 20.99%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 693  | 679  | 686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204611663.SRDLC, 30.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3085  | 3019  | 3106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204617295.SRDLC, 13.99%, 10/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 4476  | 4369  | 4467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204622779.SRDLC, 24.49%, 10/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 15023  | 14708  | 14929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204629248.SRDLC, 15.49%, 10/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 3103  | 3044  | 3027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204637099.SRDLC, 32.39%, 11/25/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 11526  | 11195  | 11630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204647611.SRDLC, 25.99%, 10/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2976  | 2915  | 2956  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204650247.SRDLC, 30.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 2945  | 2883  | 2967  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204651330.SRDLC, 10.24%, 11/6/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 23110  | 22568  | 22696  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204652932.SRDLC, 15.99%, 10/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 5594  | 5484  | 5537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204652983.SRDLC, 32.39%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 6128  | 5947  | 6220  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **57** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204653543.SRDLC, 20.99%, 10/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | $3464  | $3394  | $3409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204658916.SRDLC, 31.89%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 7850  | 7637  | 7902  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204659474.SRDLC, 8.24%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 14668  | 14452  | 14470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204660104.SRDLC, 19.99%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 19471  | 18932  | 19576  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204665739.SRDLC, 18.99%, 10/12/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 1432  | 1419  | 1439  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204667188.SRDLC, 28.99%, 10/18/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2023 | 1938  | 1870  | 173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204670065.SRDLC, 26.49%, 10/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2023 | 1813  | 1749  | 162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204670221.SRDLC, 19.49%, 10/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2023 | 2002  | 1962  | 1992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204672903.SRDLC, 15.00%, 1/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 3962  | 3845  | 3692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204673717.SRDLC, 10.49%, 10/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 19468  | 19210  | 19101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204673769.SRDLC, 32.39%, 10/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 8477  | 8226  | 8677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204674882.SRDLC, 31.89%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 11232  | 10935  | 11335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204678563.SRDLC, 25.49%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 5290  | 5105  | 722  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204678905.SRDLC, 22.99%, 10/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 14945  | 14645  | 14890  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204680377.SRDLC, 26.49%, 10/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 3017  | 2955  | 2993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204682636.SRDLC, 7.24%, 10/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2023 | 4746  | 4717  | 4737  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204682690.SRDLC, 28.49%, 10/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 7468  | 7251  | 7638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204684311.SRDLC, 31.89%, 10/13/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 1612  | 1556  | 1188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204685321.SRDLC, 7.24%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2023 | 4743  | 4682  | 4695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204685459.SRDLC, 32.39%, 10/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 5621  | 5424  | 502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204691132.SRDLC, 14.24%, 11/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 28559  | 28057  | 28496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204691442.SRDLC, 29.99%, 10/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 1426  | 1396  | 1434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204692078.SRDLC, 32.39%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 16880  | 16381  | 17231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204692447.SRDLC, 30.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2023 | 4917  | 4813  | 4954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204695288.SRDLC, 30.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 6740  | 6597  | 6823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204697173.SRDLC, 25.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 2623  | 2567  | 2603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204700848.SRDLC, 19.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 10817  | 10595  | 10674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204705127.SRDLC, 25.49%, 11/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 5977  | 5804  | 6099  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204707973.SRDLC, 30.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 7966  | 7797  | 8064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204710073.SRDLC, 29.49%, 10/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 12659  | 12291  | 12979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204710527.SRDLC, 25.99%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 14514  | 14141  | 14612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204711592.SRDLC, 31.99%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2023 | 8426  | 8177  | 8609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204713085.SRDLC, 31.99%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 16852  | 16354  | 17207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204717857.SRDLC, 31.89%, 10/31/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2023 | 1987  | 1917  | 1989  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204719096.SRDLC, 25.99%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 8321  | 8079  | 8466  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204720778.SRDLC, 20.99%, 10/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2023 | 28803  | 28112  | 27752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204721182.SRDLC, 32.39%, 11/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 12134  | 11710  | 1085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204725761.SRDLC, 19.99%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6793  | 6600  | 6842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204726884.SRDLC, 14.99%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 8334  | 8173  | 8274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204727522.SRDLC, 14.49%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2023 | 2769  | 2731  | 2719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204730607.SRDLC, 28.49%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/19/2023 | 5808  | 5639  | 5917  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204732244.SRDLC, 32.39%, 11/3/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 18543  | 17894  | 1658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204740773.SRDLC, 20.49%, 10/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2023 | 9210  | 9020  | 9193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204742054.SRDLC, 29.99%, 10/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2023 | 1828  | 1789  | 1856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204744165.SRDLC, 31.89%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/20/2023 | 5124  | 4987  | 5152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204744907.SRDLC, 25.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 1565  | 1531  | 1553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204746318.SRDLC, 19.99%, 10/31/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2023 | 3460  | 3389  | 3431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204753016.SRDLC, 29.49%, 11/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 20769  | 20042  | 1857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204764423.SRDLC, 12.74%, 11/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 24885  | 24403  | 24300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204767760.SRDLC, 21.49%, 10/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 2404  | 2380  | 2421  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204769673.SRDLC, 14.24%, 10/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 13864  | 13597  | 13552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204772978.SRDLC, 20.99%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 4873  | 4774  | 4779  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **58** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204774959.SRDLC, 24.99%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | $1775  | $1738  | $1774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204776470.SRDLC, 24.99%, 10/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 830  | 811  | 825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204778284.SRDLC, 30.99%, 11/1/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 7825  | 7553  | 7794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204780925.SRDLC, 29.49%, 10/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 20209  | 19633  | 20201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204781074.SRDLC, 23.49%, 11/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 12266  | 12007  | 12184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204784436.SRDLC, 30.99%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 3064  | 2998  | 3116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204785325.SRDLC, 23.99%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 6901  | 6659  | 617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204786280.SRDLC, 13.49%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 3431  | 3372  | 3434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204786282.SRDLC, 15.99%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 8213  | 8046  | 8124  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204786911.SRDLC, 11.49%, 11/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 19455  | 19082  | 18981  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204787395.SRDLC, 23.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 3712  | 3634  | 3675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204788438.SRDLC, 9.88%, 10/25/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 2260  | 2230  | 2217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204788715.SRDLC, 13.62%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 12716  | 12534  | 12465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204789670.SRDLC, 14.64%, 10/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 15522  | 15308  | 15247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204790084.SRDLC, 19.99%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 688  | 675  | 686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204790332.SRDLC, 32.39%, 10/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 4220  | 4090  | 4329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204790872.SRDLC, 23.49%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 5138  | 5029  | 5123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204791068.SRDLC, 10.99%, 10/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2023 | 4392  | 4291  | 4387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204793641.SRDLC, 10.19%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 26864  | 26414  | 26847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204795406.SRDLC, 12.49%, 10/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2023 | 1366  | 1347  | 1342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204798537.SRDLC, 25.99%, 10/24/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2023 | 22768  | 21971  | 2035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204799620.SRDLC, 20.99%, 10/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2023 | 4649  | 4555  | 4614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204806331.SRDLC, 23.99%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2023 | 3298  | 3213  | 3275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204807121.SRDLC, 6.91%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 395  | 390  | 394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204819660.SRDLC, 30.99%, 10/31/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2023 | 9233  | 8984  | 9388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204821585.SRDLC, 14.24%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 6634  | 6543  | 6526  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204827026.SRDLC, 12.99%, 10/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 5483  | 5377  | 5453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204827446.SRDLC, 10.24%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 5657  | 5580  | 5573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204827760.SRDLC, 21.49%, 11/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 2380  | 2331  | 2333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204833035.SRDLC, 26.49%, 10/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 20381  | 19794  | 20493  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204833610.SRDLC, 19.00%, 10/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 18988  | 18612  | 18403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204836877.SRDLC, 20.99%, 10/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 1155  | 1131  | 1152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204838693.SRDLC, 8.89%, 10/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 7998  | 7891  | 7895  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204843005.SRDLC, 12.24%, 10/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2023 | 17037  | 16747  | 17031  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204848035.SRDLC, 22.99%, 10/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 3774  | 3697  | 3782  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204852757.SRDLC, 10.49%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/26/2023 | 3162  | 3109  | 3159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204854168.SRDLC, 25.49%, 11/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 3350  | 3278  | 3318  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204860745.SRDLC, 31.89%, 11/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 12361  | 11928  | 2128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204862220.SRDLC, 18.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 3584  | 3510  | 3552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204862412.SRDLC, 26.49%, 10/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2023 | 23475  | 22653  | 2099  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204862844.SRDLC, 26.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 923  | 904  | 928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204862989.SRDLC, 24.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 618  | 605  | 613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204864290.SRDLC, 12.74%, 10/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2023 | 19082  | 18718  | 18744  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204864933.SRDLC, 17.99%, 11/2/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 988  | 978  | 989  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204866018.SRDLC, 13.24%, 10/27/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2023 | 2516  | 2453  | 225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204866197.SRDLC, 12.74%, 10/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/27/2023 | 2189  | 2160  | 2152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204867254.SRDLC, 11.74%, 10/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2023 | 30344  | 29767  | 29720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204871983.SRDLC, 9.74%, 11/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 9304  | 9173  | 9184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204878134.SRDLC, 13.74%, 11/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 13067  | 12840  | 13027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204879805.SRDLC, 28.99%, 10/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 592  | 586  | 602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204880350.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 8642  | 8385  | 8749  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204886117.SRDLC, 7.00%, 10/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2023 | 20895  | 20617  | 20695  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **59** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204891575.SRDLC, 27.49%, 10/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | $20647  | $20053  | $20846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204891798.SRDLC, 26.99%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3796  | 3695  | 3832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204893176.SRDLC, 16.99%, 12/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 32476  | 31828  | 31254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204893917.SRDLC, 25.49%, 11/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 20755  | 20152  | 21165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204899155.SRDLC, 22.49%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 3659  | 3581  | 3626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204902189.SRDLC, 26.49%, 10/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 5180  | 5047  | 5169  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204903264.SRDLC, 23.99%, 11/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 1234  | 1208  | 1216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204907541.SRDLC, 24.99%, 11/15/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 1146  | 1105  | 102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204908259.SRDLC, 20.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 605  | 592  | 598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204910003.SRDLC, 12.24%, 10/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 4347  | 4265  | 4285  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204910104.SRDLC, 6.99%, 10/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2023 | 19465  | 19210  | 19277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204913690.SRDLC, 19.74%, 11/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 12114  | 11871  | 11630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204918488.SRDLC, 31.89%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 7772  | 7562  | 7762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204919835.SRDLC, 31.89%, 11/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 9297  | 8972  | 831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204920573.SRDLC, 19.99%, 11/9/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 18032  | 17401  | 2352  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204930383.SRDLC, 9.74%, 11/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 18551  | 18236  | 18512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204938062.SRDLC, 24.49%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 3701  | 3623  | 3659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204938682.SRDLC, 22.99%, 11/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 3058  | 2994  | 3026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204939156.SRDLC, 26.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 3753  | 3672  | 3775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204945030.SRDLC, 23.99%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 3690  | 3613  | 3644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204945531.SRDLC, 26.49%, 11/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 20822  | 20221  | 21058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204950541.SRDLC, 25.99%, 11/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 1554  | 1500  | 139  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204950557.SRDLC, 8.24%, 11/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 309  | 307  | 308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204953638.SRDLC, 10.24%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 7920  | 7812  | 7750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204954055.SRDLC, 25.49%, 11/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 16604  | 16124  | 16837  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204955900.SRDLC, 25.49%, 11/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 4561  | 4474  | 4601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204960040.SRDLC, 12.99%, 11/2/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 1359  | 1346  | 1359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204961621.SRDLC, 10.74%, 11/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 22648  | 22081  | 3539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204961977.SRDLC, 8.99%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 7533  | 7431  | 7427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204966802.SRDLC, 32.39%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 8262  | 8017  | 8284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204966953.SRDLC, 26.99%, 11/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 10977  | 10593  | 981  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204967081.SRDLC, 25.99%, 12/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 7319  | 7113  | 7325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204967306.SRDLC, 28.04%, 11/1/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 7034  | 6788  | 629  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204968495.SRDLC, 31.49%, 11/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 11135  | 10762  | 11222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204970758.SRDLC, 14.24%, 11/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 28547  | 28052  | 28462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204971844.SRDLC, 6.99%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2023 | 6091  | 6010  | 6023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204972743.SRDLC, 32.39%, 11/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 4349  | 4227  | 4407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204973013.SRDLC, 32.39%, 11/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 4274  | 4146  | 4334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204974371.SRDLC, 29.99%, 11/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 5078  | 4928  | 5137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204974638.SRDLC, 11.24%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 16959  | 16636  | 16648  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204976337.SRDLC, 27.49%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 6889  | 6708  | 6877  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204976977.SRDLC, 30.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 3191  | 3120  | 3197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204978844.SRDLC, 20.49%, 11/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 6016  | 5891  | 5967  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204979163.SRDLC, 24.99%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 9940  | 9653  | 10070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204979393.SRDLC, 22.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 2140  | 2096  | 2115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204980470.SRDLC, 30.99%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 12582  | 12142  | 1125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204980743.SRDLC, 28.99%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 7587  | 7364  | 7675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204981046.SRDLC, 30.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 9735  | 9522  | 9778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204981093.SRDLC, 22.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 8811  | 8625  | 8673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204981896.SRDLC, 23.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 1476  | 1445  | 1458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204981988.SRDLC, 31.89%, 7/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 4651  | 4491  | 4627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204982351.SRDLC, 32.39%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 21379  | 20716  | 21455  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **60** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 204983341.SRDLC, 24.99%, 11/18/2026 (a)(r)  | Lending Club | 11/7/2023 | $6327  | $6127  | $6277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204983615.SRDLC, 13.99%, 11/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 16428  | 16110  | 15990  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204983913.SRDLC, 24.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 5938  | 5813  | 5864  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204984636.SRDLC, 23.49%, 11/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 1963  | 1917  | 1938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204985247.SRDLC, 21.49%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 9700  | 9500  | 9559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204985862.SRDLC, 23.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 15377  | 15055  | 15190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204986421.SRDLC, 16.99%, 11/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 15718  | 15405  | 15346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204987273.SRDLC, 25.99%, 11/3/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 2940  | 2837  | 263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204987832.SRDLC, 25.49%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 4342  | 4250  | 4288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204989755.SRDLC, 29.99%, 11/3/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 19721  | 19039  | 13582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204991156.SRDLC, 10.74%, 11/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 11107  | 10829  | 993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204992817.SRDLC, 27.49%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 941  | 920  | 945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204993748.SRDLC, 18.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 1195  | 1170  | 1178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204995091.SRDLC, 24.49%, 11/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 5372  | 5217  | 5448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204995972.SRDLC, 12.49%, 11/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 10333  | 10178  | 10112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204996180.SRDLC, 32.39%, 11/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 13006  | 12628  | 13167  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204998015.SRDLC, 10.49%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 19390  | 19060  | 19346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 204998277.SRDLC, 11.49%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 18528  | 18173  | 18206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205000321.SRDLC, 24.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1484  | 1453  | 1468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205003766.SRDLC, 27.49%, 11/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 9265  | 9021  | 9277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205004489.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2876  | 2814  | 2885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205005150.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 767  | 750  | 769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205005322.SRDLC, 20.49%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2841  | 2782  | 2800  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205005478.SRDLC, 10.00%, 5/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1138  | 1101  | 1076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205005922.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 3197  | 3127  | 3190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205007700.SRDLC, 22.99%, 11/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 982  | 948  | 759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205008355.SRDLC, 32.39%, 7/21/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 14728  | 14212  | 2577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205010193.SRDLC, 12.74%, 11/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 11665  | 11438  | 11448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205028471.SRDLC, 9.24%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4664  | 4629  | 4650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205028504.SRDLC, 29.99%, 11/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 4119  | 3975  | 1056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205029516.SRDLC, 15.24%, 11/8/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 19257  | 18778  | 10290  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205030367.SRDLC, 28.49%, 11/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2268  | 2210  | 2267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205032341.SRDLC, 26.49%, 11/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 6671  | 6477  | 6798  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205038192.SRDLC, 19.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 5076  | 4971  | 5015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205039537.SRDLC, 15.49%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2023 | 12240  | 12026  | 12202  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205040182.SRDLC, 22.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1223  | 1198  | 1210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205040207.SRDLC, 32.39%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 7336  | 7116  | 7332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205040595.SRDLC, 26.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 15638  | 15302  | 15708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205041347.SRDLC, 22.99%, 11/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1594  | 1538  | 404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205041398.SRDLC, 5.00%, 11/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 9407  | 9132  | 9359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205044350.SRDLC, 21.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1833  | 1795  | 1809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205044397.SRDLC, 16.99%, 11/6/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 379  | 366  | 304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205046513.SRDLC, 17.99%, 11/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2372  | 2347  | 2375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205051286.SRDLC, 22.99%, 11/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1020  | 1009  | 1030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205051330.SRDLC, 24.99%, 11/1/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 583  | 577  | 585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205052261.SRDLC, 28.99%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 10212  | 9913  | 10347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205054208.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 3561  | 3480  | 3506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205054697.SRDLC, 24.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2227  | 2180  | 2201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205054967.SRDLC, 6.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8307  | 8194  | 8219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205055970.SRDLC, 26.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1884  | 1843  | 1887  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205057809.SRDLC, 15.99%, 11/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 1479  | 1428  | 1479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205059061.SRDLC, 31.89%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 5440  | 5291  | 5484  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **61** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205059663.SRDLC, 24.49%, 11/6/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | $649  | $626  | $175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205059859.SRDLC, 8.24%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 13401  | 13220  | 13207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205063124.SRDLC, 30.99%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2704  | 2631  | 2701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205064784.SRDLC, 12.24%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 31154  | 30556  | 30384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205065513.SRDLC, 29.99%, 11/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 21163  | 20537  | 21486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205069321.SRDLC, 21.49%, 2/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 6626  | 6413  | 6525  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205069689.SRDLC, 14.74%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 19799  | 19413  | 19288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205070051.SRDLC, 17.99%, 11/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1447  | 1405  | 1453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205071027.SRDLC, 31.89%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 1989  | 1937  | 1982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205073163.SRDLC, 26.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 15013  | 14690  | 15131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205073559.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 6648  | 6502  | 6649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205074337.SRDLC, 28.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 7714  | 7493  | 7761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205074461.SRDLC, 32.39%, 11/4/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 4428  | 4273  | 545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205075482.SRDLC, 8.90%, 11/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 19627  | 19353  | 19370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205075732.SRDLC, 23.99%, 11/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 17641  | 17024  | 4301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205076877.SRDLC, 21.49%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 1819  | 1781  | 1795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205076889.SRDLC, 23.99%, 11/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 615  | 602  | 609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205077424.SRDLC, 13.37%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 2308  | 2276  | 2262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205077541.SRDLC, 25.99%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 2173  | 2102  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205078112.SRDLC, 17.99%, 11/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 494  | 489  | 495  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205078405.SRDLC, 9.74%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 4652  | 4589  | 4584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205083237.SRDLC, 30.49%, 11/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 5010  | 4835  | 448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205083411.SRDLC, 22.49%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 6708  | 6568  | 6614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205085675.SRDLC, 31.89%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 4663  | 4536  | 4708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205086200.SRDLC, 24.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2969  | 2906  | 2935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205088340.SRDLC, 23.49%, 11/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 3189  | 3107  | 3182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205090540.SRDLC, 30.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 6392  | 6253  | 6413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205090708.SRDLC, 14.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 5346  | 5240  | 5276  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205091740.SRDLC, 32.39%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 4272  | 4161  | 4321  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205091788.SRDLC, 27.49%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 3058  | 2976  | 3053  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205092866.SRDLC, 21.99%, 11/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 2561  | 2471  | 193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205095746.SRDLC, 23.49%, 11/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 563  | 557  | 568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205098102.SRDLC, 28.49%, 11/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 7768  | 7562  | 7809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205099689.SRDLC, 28.99%, 3/22/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 10409  | 10044  | 931  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205101214.SRDLC, 22.74%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 27411  | 26854  | 26413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205101961.SRDLC, 11.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 3719  | 3667  | 3640  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205102113.SRDLC, 21.49%, 3/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 10462  | 10096  | 935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205102147.SRDLC, 23.49%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 6133  | 6005  | 6066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205102159.SRDLC, 28.49%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 2523  | 2468  | 2541  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205103139.SRDLC, 32.39%, 11/6/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 18273  | 17634  | 1634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205107937.SRDLC, 29.99%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 11555  | 11246  | 11549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205109661.SRDLC, 15.00%, 8/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2023 | 14751  | 14236  | 14431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205111949.SRDLC, 28.49%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 3812  | 3728  | 3849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205113789.SRDLC, 28.99%, 6/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 2184  | 2127  | 2185  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205114020.SRDLC, 26.62%, 11/7/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 3561  | 3522  | 3618  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205121268.SRDLC, 23.99%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 3097  | 3032  | 3061  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205124664.SRDLC, 25.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1861  | 1821  | 1846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205130277.SRDLC, 26.49%, 11/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 5614  | 5494  | 5559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205130783.SRDLC, 21.99%, 4/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 696  | 673  | 681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205132274.SRDLC, 15.49%, 11/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 746  | 735  | 737  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205132565.SRDLC, 27.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 9409  | 9205  | 9494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205132600.SRDLC, 22.49%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 15245  | 14924  | 15093  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **62** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205133678.SRDLC, 19.39%, 11/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | $9731  | $9503  | $9368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205135627.SRDLC, 29.99%, 11/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 19888  | 19192  | 5001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205136231.SRDLC, 25.99%, 11/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 2488  | 2435  | 2460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205138029.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 12822  | 12438  | 13035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205138879.SRDLC, 30.99%, 11/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 6391  | 6249  | 6445  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205139741.SRDLC, 23.99%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 3296  | 3211  | 3305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205141467.SRDLC, 8.24%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2023 | 3106  | 3062  | 3071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205141882.SRDLC, 28.49%, 11/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 15344  | 14807  | 15389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205142999.SRDLC, 23.49%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 5823  | 5619  | 521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205143579.SRDLC, 19.99%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/9/2023 | 9382  | 9117  | 9423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205144882.SRDLC, 15.99%, 11/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 2933  | 2874  | 2894  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205145072.SRDLC, 29.99%, 11/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 15237  | 14787  | 15441  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205145255.SRDLC, 27.49%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 8154  | 7979  | 8200  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205147581.SRDLC, 12.74%, 11/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 8577  | 8412  | 8359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205149959.SRDLC, 30.99%, 11/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 11031  | 10645  | 1833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205151091.SRDLC, 26.49%, 11/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 2272  | 2212  | 2277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205152075.SRDLC, 30.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 2873  | 2810  | 2872  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205152621.SRDLC, 26.49%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 19214  | 18668  | 19332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205154048.SRDLC, 10.49%, 11/22/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 11456  | 11375  | 11396  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205154276.SRDLC, 30.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3191  | 3120  | 3227  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205155057.SRDLC, 30.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 2330  | 2278  | 2340  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205155668.SRDLC, 24.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 2474  | 2422  | 2449  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205155835.SRDLC, 19.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 1803  | 1765  | 1789  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205155888.SRDLC, 28.99%, 11/5/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 1369  | 1353  | 1390  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205155959.SRDLC, 32.39%, 11/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 138  | 134  | 136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205157508.SRDLC, 27.49%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 3763  | 3682  | 3785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205157555.SRDLC, 25.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 3732  | 3653  | 3692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205161386.SRDLC, 23.49%, 11/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 5208  | 5034  | 5154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205162124.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2493  | 2437  | 2524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205162304.SRDLC, 26.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 3176  | 3108  | 3188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205162420.SRDLC, 20.99%, 11/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 1008  | 994  | 1013  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205162949.SRDLC, 19.49%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 1191  | 1178  | 1197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205163659.SRDLC, 19.49%, 11/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 16060  | 15770  | 16078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205163859.SRDLC, 30.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 3068  | 3001  | 3093  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205164406.SRDLC, 30.99%, 11/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/10/2023 | 2468  | 2414  | 2467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205164636.SRDLC, 21.49%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 4850  | 4749  | 4795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205165035.SRDLC, 12.99%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 7653  | 7570  | 7677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205165983.SRDLC, 18.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 2884  | 2825  | 2848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205166096.SRDLC, 30.49%, 11/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 10321  | 9966  | 7165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205166955.SRDLC, 30.99%, 11/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 3518  | 3424  | 3526  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205167571.SRDLC, 19.96%, 12/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 18746  | 18399  | 18663  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205170016.SRDLC, 16.99%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 818  | 809  | 822  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205170737.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 6839  | 6600  | 6881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205170750.SRDLC, 21.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 1009  | 987  | 1000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205171265.SRDLC, 27.49%, 11/13/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 3543  | 3419  | 317  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205171503.SRDLC, 29.49%, 12/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 3316  | 3227  | 3387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205172569.SRDLC, 21.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 3040  | 2977  | 3005  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205172635.SRDLC, 30.99%, 11/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 4523  | 4415  | 4468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205172819.SRDLC, 31.89%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1166  | 1134  | 1170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205172850.SRDLC, 24.99%, 11/13/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 4031  | 3890  | 360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205173487.SRDLC, 15.74%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 11388  | 11164  | 11090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205174429.SRDLC, 31.99%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 12374  | 12005  | 12566  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **63** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205174746.SRDLC, 30.99%, 6/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | $11798  | $11421  | $11528  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205174771.SRDLC, 21.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1199  | 1173  | 1186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205174880.SRDLC, 27.99%, 11/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 641  | 621  | 653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205175555.SRDLC, 30.99%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 769  | 752  | 771  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205177570.SRDLC, 15.99%, 11/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 14793  | 14493  | 14636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205177880.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 6667  | 6468  | 6778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205177928.SRDLC, 32.39%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8548  | 8292  | 8678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205178421.SRDLC, 30.49%, 11/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 5955  | 5765  | 6044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205178777.SRDLC, 6.99%, 11/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2023 | 4969  | 4902  | 4914  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205178848.SRDLC, 17.99%, 11/6/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8124  | 8036  | 8138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205179450.SRDLC, 28.99%, 11/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 1235  | 1221  | 1257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205179773.SRDLC, 19.99%, 11/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 5337  | 5229  | 5141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180381.SRDLC, 26.99%, 11/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 1877  | 1836  | 1891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180684.SRDLC, 10.24%, 11/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 22819  | 22381  | 22459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180725.SRDLC, 29.99%, 11/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8880  | 8570  | 794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180772.SRDLC, 28.99%, 11/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8509  | 8259  | 8671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180888.SRDLC, 13.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 2897  | 2839  | 2863  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205180990.SRDLC, 30.99%, 11/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 3810  | 3710  | 3813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205181324.SRDLC, 22.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 3669  | 3592  | 3643  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205181325.SRDLC, 26.99%, 11/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 4472  | 4315  | 785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205182162.SRDLC, 15.99%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 14696  | 14398  | 14505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205182458.SRDLC, 18.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 597  | 585  | 591  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205183206.SRDLC, 10.49%, 11/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 13639  | 13380  | 13401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205183245.SRDLC, 32.39%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 10398  | 10093  | 10566  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205185236.SRDLC, 26.49%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 20848  | 20241  | 21194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205186172.SRDLC, 23.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 615  | 602  | 610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205186295.SRDLC, 27.99%, 11/13/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 701  | 693  | 715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205187121.SRDLC, 26.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1068  | 1033  | 1055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205187159.SRDLC, 26.49%, 5/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 10252  | 9893  | 1794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205190152.SRDLC, 30.99%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 5100  | 4948  | 5183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205193379.SRDLC, 19.99%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 19442  | 18894  | 19470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205193486.SRDLC, 19.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1619  | 1585  | 1596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205193746.SRDLC, 21.49%, 11/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4875  | 4773  | 4830  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205193963.SRDLC, 30.99%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 897  | 877  | 904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205194317.SRDLC, 27.49%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 20946  | 20333  | 21223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205195334.SRDLC, 14.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 7575  | 7423  | 7485  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205195383.SRDLC, 26.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 262  | 256  | 259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205195617.SRDLC, 32.39%, 11/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 12340  | 11908  | 3242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205195775.SRDLC, 29.99%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 19373  | 18839  | 19437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205195966.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 8548  | 8292  | 8690  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205196087.SRDLC, 15.00%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 5524  | 5341  | 5343  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205196994.SRDLC, 13.49%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 5735  | 5653  | 5600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205198404.SRDLC, 9.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 10785  | 10635  | 10636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205198463.SRDLC, 23.99%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 8882  | 8650  | 8945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205199490.SRDLC, 24.99%, 11/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 7423  | 7263  | 7369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205199889.SRDLC, 18.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 3584  | 3510  | 3552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205200050.SRDLC, 28.99%, 11/15/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 1802  | 1781  | 1831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205200444.SRDLC, 32.39%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 5129  | 4975  | 5207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205200491.SRDLC, 28.99%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 5904  | 5747  | 5953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205201201.SRDLC, 23.99%, 11/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1612  | 1573  | 1599  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205202993.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 5129  | 4975  | 5214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203229.SRDLC, 27.49%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8769  | 8581  | 8828  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **64** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203488.SRDLC, 26.49%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | $6059  | $5899  | $6089  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203505.SRDLC, 24.49%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 5998  | 5841  | 6033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203529.SRDLC, 28.49%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 18429  | 17890  | 18652  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203557.SRDLC, 24.49%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 17355  | 16853  | 17677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205203667.SRDLC, 24.99%, 5/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 2478  | 2391  | 416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205204746.SRDLC, 23.99%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 7358  | 7202  | 7311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205205108.SRDLC, 30.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 9589  | 9376  | 9677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205205406.SRDLC, 24.99%, 11/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 8004  | 7724  | 7909  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205205655.SRDLC, 7.24%, 11/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 15061  | 14857  | 14907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205205799.SRDLC, 30.99%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 6392  | 6250  | 6461  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205206435.SRDLC, 25.99%, 11/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 9257  | 8933  | 828  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205207590.SRDLC, 30.99%, 11/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 2016  | 1971  | 2041  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205208042.SRDLC, 14.74%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 9605  | 9468  | 9409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205208973.SRDLC, 27.99%, 11/16/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 2876  | 2775  | 257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205210430.SRDLC, 30.99%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 8500  | 8247  | 8650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205211147.SRDLC, 30.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 3516  | 3438  | 3548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205211487.SRDLC, 22.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 921  | 902  | 910  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205211602.SRDLC, 22.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 3304  | 3234  | 3267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205212215.SRDLC, 10.74%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2023 | 12554  | 12380  | 12300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205212520.SRDLC, 32.39%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 4274  | 4146  | 4345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205213309.SRDLC, 30.99%, 11/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 787  | 770  | 794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205213415.SRDLC, 13.99%, 11/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 3171  | 3136  | 3190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205213504.SRDLC, 24.49%, 11/13/2025 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 1190  | 1160  | 105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205214572.SRDLC, 25.99%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 9065  | 8826  | 9122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205216468.SRDLC, 30.49%, 11/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 12031  | 11610  | 11785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205216927.SRDLC, 28.99%, 11/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 2117  | 2092  | 2162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205217188.SRDLC, 25.49%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 12688  | 12406  | 12385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205217769.SRDLC, 10.00%, 11/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/30/2023 | 4518  | 4454  | 4462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205220327.SRDLC, 25.99%, 11/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 1573  | 1539  | 1561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205222349.SRDLC, 32.39%, 11/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 12116  | 11692  | 1083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205223049.SRDLC, 12.49%, 12/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/30/2023 | 31701  | 31084  | 30805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205224079.SRDLC, 8.24%, 11/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2023 | 22335  | 22024  | 22047  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205224878.SRDLC, 25.99%, 11/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 16942  | 16349  | 1515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205225897.SRDLC, 13.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 14380  | 14091  | 14247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205225922.SRDLC, 31.89%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3886  | 3780  | 3914  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205226018.SRDLC, 10.99%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 19450  | 19116  | 19432  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205226655.SRDLC, 14.49%, 12/5/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 4255  | 4192  | 4152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205226666.SRDLC, 24.99%, 5/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 10154  | 9798  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205227125.SRDLC, 24.25%, 11/1/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 10507  | 10291  | 10012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205227335.SRDLC, 31.89%, 11/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 4708  | 4580  | 4768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205227451.SRDLC, 30.99%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 1934  | 1866  | 1948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205227726.SRDLC, 14.24%, 12/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 11683  | 11452  | 11410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205227887.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 3835  | 3750  | 3884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205228025.SRDLC, 15.00%, 3/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 15536  | 14995  | 15106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205229467.SRDLC, 30.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 9589  | 9376  | 9697  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205229904.SRDLC, 32.39%, 11/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 12822  | 12434  | 13069  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205230663.SRDLC, 26.49%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3651  | 3555  | 3679  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205230930.SRDLC, 25.49%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 2260  | 2201  | 2279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205231184.SRDLC, 32.39%, 9/28/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 14341  | 13839  | 3816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205231552.SRDLC, 25.49%, 11/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 4975  | 4801  | 1300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205231608.SRDLC, 30.49%, 11/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3468  | 3346  | 310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205231841.SRDLC, 28.99%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 2119  | 2092  | 2159  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **65** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232110.SRDLC, 28.99%, 5/17/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | $9520  | $9187  | $851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232144.SRDLC, 27.99%, 11/16/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 17522  | 16908  | 4492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232442.SRDLC, 19.49%, 5/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 8930  | 8710  | 8612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232546.SRDLC, 25.99%, 11/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 7101  | 6911  | 7137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232683.SRDLC, 23.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4305  | 4213  | 4289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232686.SRDLC, 32.39%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 8573  | 8316  | 8713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205232907.SRDLC, 22.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 4403  | 4310  | 4383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205233408.SRDLC, 30.49%, 11/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 5861  | 5687  | 5982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205233420.SRDLC, 29.28%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 4054  | 3965  | 4102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205234543.SRDLC, 23.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 2964  | 2864  | 2938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205235013.SRDLC, 32.39%, 11/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 9846  | 9501  | 283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205235365.SRDLC, 19.99%, 6/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 11784  | 11372  | 2987  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205235746.SRDLC, 8.24%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8934  | 8812  | 8810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205235926.SRDLC, 21.49%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 2214  | 2157  | 2239  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205237436.SRDLC, 23.99%, 11/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 3421  | 3382  | 3470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205237975.SRDLC, 18.99%, 11/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 1209  | 1195  | 1219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205238130.SRDLC, 8.24%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 6700  | 6609  | 6608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205238405.SRDLC, 28.62%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 6976  | 6824  | 7050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205239311.SRDLC, 10.99%, 12/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 12999  | 12747  | 12755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205239755.SRDLC, 12.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 5757  | 5676  | 5642  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205239922.SRDLC, 24.99%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 4454  | 4358  | 4431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205239978.SRDLC, 27.49%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 5480  | 5334  | 5530  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205240259.SRDLC, 24.49%, 11/28/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 22058  | 21286  | 1983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205240488.SRDLC, 23.49%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 9815  | 9604  | 9731  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205240681.SRDLC, 27.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 12588  | 12219  | 12826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205240957.SRDLC, 12.74%, 11/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 11584  | 11339  | 11368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205240998.SRDLC, 21.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6063  | 5935  | 6017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205241226.SRDLC, 25.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 9305  | 9103  | 9265  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205241486.SRDLC, 26.49%, 11/5/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4104  | 3985  | 4146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205242223.SRDLC, 27.49%, 11/23/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 8825  | 8517  | 1555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205243385.SRDLC, 27.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 5722  | 5569  | 5780  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205243406.SRDLC, 32.39%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 12826  | 12377  | 13015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205243766.SRDLC, 21.49%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 8094  | 7930  | 7796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205243791.SRDLC, 24.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 3701  | 3621  | 3686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205244002.SRDLC, 24.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 15421  | 15089  | 15360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205244092.SRDLC, 14.99%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 11761  | 11523  | 11625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205244345.SRDLC, 28.99%, 11/25/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 357  | 353  | 366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205245190.SRDLC, 21.99%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 9276  | 8952  | 829  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205245422.SRDLC, 24.99%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 5260  | 5107  | 5372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205245476.SRDLC, 32.39%, 11/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 17960  | 17331  | 3192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205246160.SRDLC, 27.99%, 11/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 10973  | 10589  | 981  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205246312.SRDLC, 19.49%, 11/10/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 7032  | 6953  | 7070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205246713.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6420  | 6195  | 6467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205247186.SRDLC, 31.89%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2331  | 2260  | 2351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205247435.SRDLC, 24.99%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 861  | 851  | 874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205247561.SRDLC, 11.74%, 11/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2023 | 6978  | 6856  | 6970  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205247816.SRDLC, 28.49%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 14620  | 14189  | 14938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205247919.SRDLC, 30.99%, 11/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6418  | 6273  | 6469  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205249328.SRDLC, 23.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 5945  | 5790  | 5997  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205249648.SRDLC, 13.62%, 11/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 5722  | 5640  | 5615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205250406.SRDLC, 27.49%, 12/2/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 9108  | 8910  | 9020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205250490.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4153  | 4061  | 4205  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **66** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205251399.SRDLC, 12.99%, 11/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | $3454  | $3406  | $3385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205252140.SRDLC, 26.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 1877  | 1836  | 1903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205252251.SRDLC, 31.89%, 6/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2615  | 2532  | 2606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205252938.SRDLC, 20.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 3014  | 2950  | 2992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205253102.SRDLC, 13.49%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 17632  | 17324  | 17578  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205253628.SRDLC, 29.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2156  | 2108  | 2184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205254198.SRDLC, 10.84%, 11/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2023 | 15409  | 15115  | 15138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205254709.SRDLC, 10.00%, 5/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 1953  | 1890  | 1902  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205257162.SRDLC, 21.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4547  | 4451  | 4513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205257303.SRDLC, 7.24%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 6083  | 6001  | 6016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205257304.SRDLC, 12.74%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/16/2023 | 24457  | 23984  | 23954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205259433.SRDLC, 21.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2728  | 2670  | 2708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205259674.SRDLC, 13.74%, 12/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 20521  | 20118  | 19973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205262018.SRDLC, 30.99%, 4/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4692  | 4528  | 1305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205262511.SRDLC, 32.39%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4274  | 4146  | 4360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205262908.SRDLC, 32.39%, 3/10/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 18403  | 17759  | 3091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205265680.SRDLC, 26.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 2252  | 2203  | 2283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205266365.SRDLC, 10.49%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 9209  | 9032  | 9066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205266680.SRDLC, 32.39%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 12018  | 11599  | 12196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205269803.SRDLC, 24.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6168  | 6036  | 6144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205271826.SRDLC, 30.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 3835  | 3746  | 3884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205273890.SRDLC, 7.24%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 9984  | 9848  | 9879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205276547.SRDLC, 24.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 6186  | 6052  | 6160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205277977.SRDLC, 27.49%, 11/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 10103  | 9794  | 10299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205279335.SRDLC, 13.24%, 12/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 4453  | 4374  | 4429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205279563.SRDLC, 27.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 5480  | 5334  | 5537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205280151.SRDLC, 24.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 883  | 864  | 873  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205280438.SRDLC, 12.74%, 11/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 6898  | 6800  | 6766  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205282222.SRDLC, 30.49%, 11/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 22207  | 21430  | 22354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205283754.SRDLC, 7.17%, 11/21/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 20776  | 20477  | 20573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205283846.SRDLC, 7.24%, 11/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 8320  | 8207  | 8233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205283960.SRDLC, 31.89%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 1865  | 1814  | 1881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205286184.SRDLC, 9.99%, 11/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 12771  | 12552  | 12752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205287163.SRDLC, 13.74%, 11/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 7670  | 7478  | 686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205287954.SRDLC, 11.74%, 11/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 2094  | 2057  | 2090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205288618.SRDLC, 23.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 7381  | 7223  | 7353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205291372.SRDLC, 14.24%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 9395  | 9261  | 9178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205291655.SRDLC, 15.25%, 12/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 20863  | 20448  | 20345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205293278.SRDLC, 23.99%, 11/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 7134  | 6885  | 638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205294440.SRDLC, 31.89%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 2992  | 2911  | 3021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205295371.SRDLC, 13.86%, 11/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 4638  | 4571  | 4551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205295666.SRDLC, 25.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 7444  | 7283  | 7412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205297517.SRDLC, 25.99%, 11/21/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 19009  | 18343  | 1699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205298282.SRDLC, 11.49%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/17/2023 | 6947  | 6814  | 6783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205299099.SRDLC, 30.99%, 11/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 13191  | 12729  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205299614.SRDLC, 9.24%, 12/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 17694  | 17386  | 17630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205300582.SRDLC, 19.99%, 11/21/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 11425  | 11025  | 1021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205303754.SRDLC, 27.49%, 11/21/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 2341  | 2259  | 649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205307127.SRDLC, 12.00%, 11/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2023 | 21034  | 20629  | 20542  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205312683.SRDLC, 11.49%, 11/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 11117  | 10903  | 10930  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205313312.SRDLC, 13.74%, 11/30/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 7340  | 7235  | 7217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205314809.SRDLC, 32.39%, 11/21/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 14609  | 14097  | 1306  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **67** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205316746.SRDLC, 13.24%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | $8938  | $8811  | $8727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205318257.SRDLC, 12.50%, 11/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 15574  | 15269  | 15266  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205318350.SRDLC, 7.24%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 7766  | 7659  | 7686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205319081.SRDLC, 10.99%, 11/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 16547  | 16229  | 16274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205323519.SRDLC, 12.99%, 11/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2023 | 12657  | 12436  | 12649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205323745.SRDLC, 11.95%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 4749  | 4713  | 4731  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205331137.SRDLC, 14.24%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 17318  | 16979  | 16908  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205335681.SRDLC, 9.74%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 1092  | 1084  | 1088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205336896.SRDLC, 12.70%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 21058  | 20689  | 21051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205337613.SRDLC, 14.95%, 11/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 775  | 769  | 778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205339703.SRDLC, 14.24%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 11606  | 11439  | 11380  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205340294.SRDLC, 16.24%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 24475  | 23980  | 23916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205341522.SRDLC, 12.62%, 11/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/24/2023 | 2872  | 2831  | 2816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205342124.SRDLC, 9.24%, 11/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 3420  | 3394  | 3411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205343264.SRDLC, 12.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 17213  | 16968  | 16889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205345601.SRDLC, 12.49%, 11/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2023 | 16436  | 16116  | 16070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205347416.SRDLC, 6.89%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2023 | 11069  | 10917  | 10955  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205348634.SRDLC, 16.99%, 11/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2023 | 13137  | 12875  | 12825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205362417.SRDLC, 8.24%, 12/5/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/14/2023 | 6693  | 6638  | 6668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205368104.SRDLC, 12.99%, 11/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 3154  | 3108  | 3095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205377136.SRDLC, 19.49%, 11/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2023 | 7957  | 7812  | 8001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205379996.SRDLC, 14.49%, 11/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 21999  | 21466  | 21467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205380459.SRDLC, 14.39%, 12/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 15977  | 15659  | 15633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205385821.SRDLC, 9.99%, 11/27/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 14817  | 14446  | 1325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205389121.SRDLC, 16.74%, 12/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 6670  | 6537  | 6470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205392450.SRDLC, 9.71%, 11/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 11370  | 11174  | 11351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205394581.SRDLC, 13.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/28/2023 | 15774  | 15388  | 13695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205395360.SRDLC, 13.25%, 11/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 14085  | 13837  | 14081  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205403601.SRDLC, 9.63%, 11/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 13520  | 13329  | 13286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205403668.SRDLC, 20.49%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 16205  | 15875  | 15694  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205404187.SRDLC, 10.76%, 11/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 19679  | 19300  | 19366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205410103.SRDLC, 9.74%, 11/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2023 | 11028  | 10838  | 11019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205423483.SRDLC, 10.49%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 3564  | 3511  | 3516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205426809.SRDLC, 13.49%, 11/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/30/2023 | 10579  | 10392  | 10585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205426852.SRDLC, 10.99%, 12/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2023 | 27512  | 26975  | 27026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205435903.SRDLC, 15.24%, 11/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/30/2023 | 7374  | 7228  | 7210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205438003.SRDLC, 9.74%, 11/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2023 | 14101  | 13807  | 13920  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205440773.SRDLC, 8.24%, 12/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 8324  | 8205  | 8214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205440955.SRDLC, 8.99%, 12/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/30/2023 | 5907  | 5824  | 5815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205451696.SRDLC, 11.49%, 12/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 6306  | 6183  | 6146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205456765.SRDLC, 8.24%, 11/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2023 | 1544  | 1532  | 1541  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205459769.SRDLC, 7.17%, 11/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2023 | 5563  | 5485  | 5508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205466653.SRDLC, 28.49%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 6567  | 6395  | 6459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205468854.SRDLC, 10.24%, 12/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 9489  | 9352  | 9279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205469820.SRDLC, 17.50%, 11/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2023 | 7568  | 7379  | 1694  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205469919.SRDLC, 15.49%, 12/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 19264  | 18881  | 18677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205477027.SRDLC, 9.63%, 11/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/1/2023 | 9016  | 8888  | 8856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205480377.SRDLC, 12.74%, 12/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 9030  | 8897  | 8835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205482003.SRDLC, 10.99%, 12/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 9290  | 9121  | 9246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205495061.SRDLC, 9.61%, 12/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 23630  | 23292  | 23269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205512566.SRDLC, 16.99%, 11/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2023 | 12658  | 12405  | 12366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205520029.SRDLC, 10.49%, 12/11/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 25972  | 25323  | 2322  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **68** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205525021.SRDLC, 19.49%, 12/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | $8137  | $8013  | $7854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205527978.SRDLC, 15.74%, 12/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 3666  | 3600  | 3605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205529100.SRDLC, 11.49%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 19662  | 19275  | 19337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205533806.SRDLC, 15.74%, 12/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 30569  | 29961  | 29553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205539761.SRDLC, 13.99%, 12/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 1826  | 1800  | 1778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205546389.SRDLC, 10.24%, 12/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 23626  | 23209  | 23559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205550138.SRDLC, 6.82%, 12/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 12816  | 12636  | 12677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205559006.SRDLC, 13.21%, 12/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 6037  | 5948  | 5873  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205563622.SRDLC, 9.13%, 12/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 1118  | 1090  | 1101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205564070.SRDLC, 13.49%, 12/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 4345  | 4267  | 4335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205564336.SRDLC, 8.24%, 12/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 23429  | 23094  | 23087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205564462.SRDLC, 14.99%, 12/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 18301  | 18030  | 17841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205569148.SRDLC, 6.89%, 12/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/2023 | 9294  | 9161  | 9194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205569647.SRDLC, 9.74%, 12/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 13047  | 12776  | 12862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205570754.SRDLC, 11.26%, 12/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 20422  | 20024  | 20049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205572033.SRDLC, 12.20%, 12/17/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 4599  | 4560  | 4574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205578669.SRDLC, 12.99%, 12/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2023 | 21409  | 20988  | 20849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205578732.SRDLC, 10.50%, 12/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 8613  | 8489  | 8420  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205579914.SRDLC, 16.74%, 12/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/21/2023 | 16171  | 15845  | 15700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205584481.SRDLC, 9.74%, 12/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/8/2023 | 1774  | 1748  | 1747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205585266.SRDLC, 10.24%, 12/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/7/2023 | 18481  | 18159  | 18420  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205586282.SRDLC, 8.24%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 11716  | 11546  | 11554  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205593414.SRDLC, 10.74%, 12/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 15700  | 15395  | 15406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205594260.SRDLC, 12.74%, 12/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 6623  | 6525  | 6472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205595511.SRDLC, 15.99%, 12/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/14/2023 | 18556  | 18092  | 1659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205599754.SRDLC, 7.57%, 12/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 27983  | 27502  | 27908  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205602301.SRDLC, 17.24%, 12/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 24317  | 23828  | 23603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205602776.SRDLC, 9.99%, 12/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2023 | 5698  | 5599  | 5678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205610040.SRDLC, 9.74%, 12/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2023 | 2365  | 2331  | 2329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205615348.SRDLC, 15.24%, 12/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2023 | 32096  | 31457  | 31180  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205616275.SRDLC, 11.01%, 12/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2023 | 15688  | 15381  | 15407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205618379.SRDLC, 11.24%, 12/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/14/2023 | 21449  | 21064  | 21393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205627622.SRDLC, 8.24%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 4687  | 4618  | 4624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205630689.SRDLC, 20.99%, 12/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 14897  | 14591  | 14365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205633187.SRDLC, 9.74%, 12/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 5912  | 5827  | 5825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205633598.SRDLC, 10.49%, 12/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/2023 | 28474  | 27972  | 28401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205640907.SRDLC, 11.49%, 12/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 22554  | 22155  | 22454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205647245.SRDLC, 13.24%, 12/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 3925  | 3867  | 3821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205648007.SRDLC, 13.99%, 12/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 7262  | 7131  | 7250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205649098.SRDLC, 11.09%, 1/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 15010  | 14785  | 14770  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205654400.SRDLC, 12.00%, 12/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 21952  | 21408  | 21393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205660331.SRDLC, 9.74%, 12/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 14237  | 13981  | 14159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205685408.SRDLC, 14.24%, 12/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 10807  | 10611  | 10795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205686700.SRDLC, 15.49%, 1/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 10581  | 10387  | 10382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205686889.SRDLC, 9.74%, 4/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 19482  | 19167  | 15880  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205687455.SRDLC, 20.23%, 12/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/13/2023 | 8287  | 8118  | 7974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205689835.SRDLC, 19.49%, 12/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/14/2023 | 15049  | 14818  | 14556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205692531.SRDLC, 14.24%, 12/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/14/2023 | 26300  | 25827  | 26201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205694550.SRDLC, 8.49%, 12/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 6454  | 6361  | 6360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205698369.SRDLC, 13.74%, 12/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 8703  | 8545  | 8674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205702987.SRDLC, 15.99%, 12/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 12611  | 12359  | 12224  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205704646.SRDLC, 9.99%, 12/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 14167  | 13964  | 13946  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **69** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205708881.SRDLC, 9.74%, 12/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | $5912  | $5827  | $5826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205710942.SRDLC, 13.99%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/2023 | 2130  | 2099  | 2076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205712618.SRDLC, 6.23%, 12/20/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2023 | 4505  | 4468  | 4494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205718182.SRDLC, 7.17%, 12/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/2023 | 8728  | 8604  | 8634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205729747.SRDLC, 10.24%, 12/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2023 | 11815  | 11643  | 11567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205733468.SRDLC, 7.00%, 12/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/18/2023 | 5608  | 5528  | 5549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205738721.SRDLC, 9.99%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2023 | 9495  | 9356  | 9361  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205742195.SRDLC, 11.26%, 12/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 23564  | 23102  | 23152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205743917.SRDLC, 6.91%, 12/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 7561  | 7452  | 7482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205746711.SRDLC, 14.11%, 8/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2023 | 3015  | 2943  | 2935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205747984.SRDLC, 11.09%, 12/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 23542  | 23082  | 23133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205756558.SRDLC, 10.24%, 12/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 7108  | 6983  | 7091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205759479.SRDLC, 9.74%, 12/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/21/2023 | 25350  | 24858  | 24918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205759846.SRDLC, 15.24%, 12/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 11233  | 11009  | 10937  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205760641.SRDLC, 10.49%, 12/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 28474  | 27971  | 28406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205762892.SRDLC, 7.41%, 12/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/21/2023 | 13435  | 13241  | 13296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205779717.SRDLC, 9.99%, 12/18/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 1529  | 1516  | 1522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205781049.SRDLC, 11.74%, 12/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 12601  | 12354  | 12296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205782335.SRDLC, 25.99%, 1/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 2363  | 2268  | 195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205782534.SRDLC, 10.49%, 12/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2023 | 14848  | 14631  | 14550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205786549.SRDLC, 8.99%, 12/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 4907  | 4863  | 4895  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205789836.SRDLC, 22.49%, 12/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 7680  | 7484  | 7402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205790694.SRDLC, 22.49%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 3215  | 3127  | 3102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205790767.SRDLC, 13.99%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 7278  | 7168  | 7131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205792655.SRDLC, 32.39%, 12/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 11681  | 11275  | 11483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205794055.SRDLC, 15.99%, 12/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 12286  | 11979  | 11835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205794864.SRDLC, 27.49%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 5227  | 5091  | 5143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205795551.SRDLC, 16.74%, 12/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 10476  | 10214  | 937  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205795932.SRDLC, 14.11%, 12/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/21/2023 | 6069  | 5978  | 5943  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205796742.SRDLC, 27.49%, 9/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 12136  | 11770  | 11720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205799041.SRDLC, 15.00%, 3/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 3131  | 3017  | 2833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205799728.SRDLC, 24.99%, 12/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 967  | 942  | 936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205800320.SRDLC, 30.99%, 1/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2024 | 8712  | 8407  | 8415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205800726.SRDLC, 10.49%, 12/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 28938  | 28372  | 28455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205801149.SRDLC, 16.99%, 12/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/21/2023 | 27440  | 26754  | 4435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205807964.SRDLC, 31.49%, 12/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 21559  | 20813  | 21164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205810883.SRDLC, 10.49%, 12/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 9341  | 9158  | 9185  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205822350.SRDLC, 11.24%, 12/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/22/2023 | 18642  | 18306  | 18596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205823042.SRDLC, 10.49%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 9385  | 9201  | 9232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205824159.SRDLC, 7.00%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 6975  | 6874  | 6904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205824591.SRDLC, 13.24%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 12076  | 11894  | 11788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205825442.SRDLC, 26.99%, 12/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 5233  | 5097  | 5135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205827522.SRDLC, 20.74%, 12/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 16537  | 16191  | 15998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205829459.SRDLC, 22.49%, 12/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 7027  | 6848  | 6773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205829476.SRDLC, 7.24%, 12/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 9606  | 9466  | 9506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205829874.SRDLC, 15.00%, 11/27/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 13815  | 13270  | 12570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205830413.SRDLC, 27.49%, 12/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 9414  | 9087  | 9292  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205831428.SRDLC, 10.99%, 12/21/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/26/2023 | 2577  | 2541  | 2552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205837733.SRDLC, 14.74%, 6/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 3509  | 3421  | 314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205837984.SRDLC, 7.99%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 7018  | 6915  | 6928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205839530.SRDLC, 15.74%, 12/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 6325  | 6198  | 6166  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205841081.SRDLC, 14.25%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 28005  | 27446  | 27290  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **70** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 205844883.SRDLC, 6.99%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | $23250  | $22910  | $23019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205845842.SRDLC, 14.74%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 6091  | 5998  | 5980  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205847386.SRDLC, 10.99%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 10196  | 9996  | 10028  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205848381.SRDLC, 24.49%, 12/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/27/2023 | 12864  | 12532  | 12471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205850651.SRDLC, 16.00%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 26421  | 25887  | 25738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205852724.SRDLC, 10.49%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 16036  | 15798  | 15820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205852854.SRDLC, 15.74%, 1/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 20539  | 20125  | 19869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205853914.SRDLC, 28.99%, 12/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 478  | 471  | 483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205858271.SRDLC, 9.74%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 6090  | 6000  | 6008  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205858890.SRDLC, 15.74%, 12/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 16255  | 15927  | 15847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205860298.SRDLC, 14.24%, 12/26/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 365  | 362  | 366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205860843.SRDLC, 10.99%, 12/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 13333  | 13094  | 13322  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205871140.SRDLC, 25.99%, 12/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 11669  | 11365  | 11319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205872318.SRDLC, 27.49%, 12/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 3070  | 2960  | 2997  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205873132.SRDLC, 13.74%, 12/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/29/2023 | 17768  | 17445  | 17747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205873690.SRDLC, 10.76%, 12/21/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 20601  | 20196  | 20259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205879390.SRDLC, 32.39%, 12/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 18190  | 17462  | 3177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205879798.SRDLC, 21.24%, 12/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 11545  | 11306  | 11208  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205882910.SRDLC, 24.99%, 12/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/28/2023 | 5396  | 5230  | 5281  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205885466.SRDLC, 32.39%, 12/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 13568  | 13026  | 2388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205886423.SRDLC, 26.99%, 1/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 3774  | 3674  | 3617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205893356.SRDLC, 27.49%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 5885  | 5697  | 5788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205894295.SRDLC, 14.24%, 12/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 17309  | 16993  | 17320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205896149.SRDLC, 25.49%, 12/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 6466  | 6297  | 6284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205896306.SRDLC, 14.50%, 12/28/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 17997  | 17571  | 17543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205900577.SRDLC, 14.24%, 12/25/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 14491  | 14270  | 14216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205900664.SRDLC, 14.49%, 12/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 11989  | 11749  | 11713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205905269.SRDLC, 28.49%, 1/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 14287  | 13806  | 13825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205907525.SRDLC, 15.74%, 1/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 5231  | 5150  | 5094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205911522.SRDLC, 15.99%, 1/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 9893  | 9647  | 9468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205912284.SRDLC, 12.49%, 12/16/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2024 | 1853  | 1837  | 1845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205912903.SRDLC, 28.99%, 12/29/2025 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2024 | 4786  | 4703  | 4825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205920066.SRDLC, 32.39%, 1/2/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 13132  | 12674  | 12577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205921450.SRDLC, 23.99%, 1/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 17204  | 16558  | 16541  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205928552.SRDLC, 31.89%, 7/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 13376  | 12843  | 12655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205929815.SRDLC, 7.24%, 12/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2024 | 8150  | 8031  | 8070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205937979.SRDLC, 28.99%, 1/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 1105  | 1086  | 1103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205948541.SRDLC, 23.99%, 1/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 4004  | 3900  | 3815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205950302.SRDLC, 27.99%, 1/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 12979  | 12459  | 1160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205956116.SRDLC, 32.39%, 12/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 21351  | 20609  | 20688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205961512.SRDLC, 22.49%, 1/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 11654  | 11294  | 11274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 205968238.SRDLC, 24.99%, 1/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/4/2024 | 10060  | 9797  | 9580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206065555.SRDLC, 24.24%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6960  | 6842  | 6702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206066173.SRDLC, 28.99%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10506  | 10140  | 10078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206174764.SRDLC, 23.49%, 2/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7257  | 7061  | 6891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206189053.SRDLC, 27.39%, 2/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 2898  | 2846  | 2887  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206241383.SRDLC, 9.24%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 12871  | 12668  | 12670  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206243225.SRDLC, 32.39%, 2/17/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7559  | 7257  | 676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206247231.SRDLC, 30.99%, 2/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 3574  | 3473  | 3434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206257499.SRDLC, 27.49%, 2/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 5025  | 4826  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206259826.SRDLC, 29.49%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6502  | 6322  | 6220  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206290598.SRDLC, 26.49%, 2/2/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7507  | 7207  | 1154  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **71** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206302600.SRDLC, 30.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | $1108  | $1077  | $1063  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206305187.SRDLC, 19.99%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 5414  | 5270  | 5164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206310285.SRDLC, 28.49%, 2/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7777  | 7562  | 7462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206321574.SRDLC, 9.99%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 2693  | 2644  | 2679  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206322505.SRDLC, 15.49%, 2/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 7157  | 6873  | 4269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206329395.SRDLC, 19.49%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 1392  | 1367  | 1369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206340202.SRDLC, 28.99%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2678  | 2629  | 2671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206341755.SRDLC, 25.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10067  | 9792  | 9560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206344696.SRDLC, 32.39%, 2/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 5759  | 5555  | 5513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206346413.SRDLC, 23.99%, 2/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7703  | 7395  | 1999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206350290.SRDLC, 31.89%, 1/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 3092  | 2991  | 3020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206365532.SRDLC, 21.99%, 2/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 709  | 697  | 696  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206371891.SRDLC, 28.49%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10605  | 10311  | 10187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206373201.SRDLC, 32.39%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 5312  | 5125  | 5084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206379163.SRDLC, 11.26%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 32563  | 31902  | 31944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206380636.SRDLC, 12.50%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 22602  | 22142  | 22050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206382999.SRDLC, 27.49%, 1/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 11010  | 10628  | 10672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206385009.SRDLC, 32.39%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 13292  | 12774  | 12664  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206385223.SRDLC, 32.39%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 13281  | 12812  | 12728  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206385770.SRDLC, 11.76%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 28561  | 27983  | 27721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206387712.SRDLC, 20.99%, 2/7/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 20211  | 19403  | 1807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206391882.SRDLC, 11.74%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 17080  | 16811  | 16669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206415213.SRDLC, 14.99%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 12054  | 11728  | 11419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206427377.SRDLC, 22.99%, 2/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 1929  | 1895  | 1907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206433124.SRDLC, 13.99%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 13195  | 12849  | 12613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206433173.SRDLC, 7.24%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 24191  | 23815  | 23907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206438545.SRDLC, 10.74%, 2/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3154  | 3096  | 3134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206439955.SRDLC, 25.99%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10529  | 10203  | 10105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206447651.SRDLC, 27.99%, 2/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 4465  | 4321  | 4283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206452090.SRDLC, 13.99%, 2/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 8246  | 8077  | 8013  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206452456.SRDLC, 23.49%, 2/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 7953  | 7635  | 711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206454884.SRDLC, 19.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 8157  | 7940  | 7759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206460018.SRDLC, 20.49%, 2/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 33927  | 33188  | 32606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206461682.SRDLC, 26.49%, 2/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 4842  | 4687  | 4644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206462868.SRDLC, 27.49%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 17604  | 16995  | 16864  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206463307.SRDLC, 22.49%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 5503  | 5354  | 5238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206463820.SRDLC, 14.24%, 2/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 12164  | 11860  | 718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206465203.SRDLC, 28.99%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5465  | 5363  | 5436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206468992.SRDLC, 14.99%, 2/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 5047  | 4917  | 4815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206469523.SRDLC, 10.37%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 6474  | 6370  | 6377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206469647.SRDLC, 19.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3263  | 3176  | 3102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206470671.SRDLC, 32.39%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 7896  | 7596  | 7562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206471742.SRDLC, 28.99%, 2/19/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6142  | 5897  | 549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206471807.SRDLC, 27.49%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3578  | 3451  | 3425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206472440.SRDLC, 23.99%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 950  | 933  | 941  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206472529.SRDLC, 24.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 14067  | 13682  | 13394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206472984.SRDLC, 26.49%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 2885  | 2833  | 2856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206473197.SRDLC, 30.99%, 2/5/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 7288  | 6997  | 652  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206473959.SRDLC, 23.99%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 2845  | 2794  | 2817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206474486.SRDLC, 29.49%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6391  | 6213  | 6137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206475013.SRDLC, 13.99%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 10621  | 10448  | 10380  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206476410.SRDLC, 25.99%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6730  | 6516  | 6461  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **72** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206476430.SRDLC, 21.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | $13726  | $13357  | $13043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206477262.SRDLC, 21.49%, 1/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10392  | 10215  | 10280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206478779.SRDLC, 30.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 5361  | 5210  | 5144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206479282.SRDLC, 27.49%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 2199  | 2159  | 2193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206480274.SRDLC, 23.49%, 7/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 7721  | 7412  | 1272  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206481938.SRDLC, 29.99%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 8999  | 8707  | 8608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206483383.SRDLC, 21.49%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3751  | 3685  | 3686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206483928.SRDLC, 22.49%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2356  | 2315  | 2316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206484173.SRDLC, 21.49%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 7033  | 6909  | 6911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206487273.SRDLC, 10.74%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6487  | 6385  | 6381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206487459.SRDLC, 26.49%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 4061  | 3988  | 4020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206487813.SRDLC, 31.89%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 11797  | 11423  | 11284  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206489104.SRDLC, 30.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 4412  | 4257  | 4210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206491318.SRDLC, 11.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 7836  | 7636  | 7476  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206491916.SRDLC, 20.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 17076  | 16619  | 16232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206494780.SRDLC, 26.99%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3511  | 3414  | 3404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206495230.SRDLC, 29.99%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 7780  | 7527  | 7460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206495381.SRDLC, 32.39%, 2/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 17708  | 17080  | 17101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206496148.SRDLC, 15.99%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 12972  | 12632  | 12381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206496350.SRDLC, 32.39%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 10182  | 9822  | 9745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206496832.SRDLC, 32.39%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6200  | 5981  | 5959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206500152.SRDLC, 22.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 17371  | 16903  | 16486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206500285.SRDLC, 30.99%, 8/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 16149  | 15503  | 15083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206501055.SRDLC, 28.49%, 2/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 12636  | 12131  | 1130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206501108.SRDLC, 20.99%, 9/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 21173  | 20326  | 3354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206502104.SRDLC, 28.49%, 2/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 18061  | 17361  | 17398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206502908.SRDLC, 29.49%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 9248  | 8930  | 8819  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206502929.SRDLC, 15.74%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 5112  | 5006  | 4946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206504845.SRDLC, 25.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 17326  | 16728  | 16647  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206504857.SRDLC, 21.49%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3115  | 3032  | 2961  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206504983.SRDLC, 17.24%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 26418  | 25870  | 25538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206505676.SRDLC, 30.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3931  | 3821  | 3773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206506205.SRDLC, 18.49%, 2/8/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 9707  | 9321  | 5826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206506284.SRDLC, 10.00%, 11/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 18852  | 18119  | 17580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206506609.SRDLC, 21.49%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 2054  | 1999  | 1952  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206506686.SRDLC, 5.00%, 10/27/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 18287  | 17572  | 17000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206508730.SRDLC, 15.00%, 11/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 14815  | 14459  | 11149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206509020.SRDLC, 25.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 9220  | 8943  | 8776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206511840.SRDLC, 20.99%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 17129  | 16551  | 16334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206513002.SRDLC, 19.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 12697  | 12269  | 12129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206513832.SRDLC, 28.99%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 3296  | 3232  | 3271  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206514655.SRDLC, 24.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2436  | 2369  | 2315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206515107.SRDLC, 21.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5212  | 5060  | 4965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206515642.SRDLC, 24.49%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2500  | 2432  | 2376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206515662.SRDLC, 27.49%, 2/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5268  | 5057  | 471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206520129.SRDLC, 24.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 6773  | 6566  | 6451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206520552.SRDLC, 24.49%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 476  | 468  | 471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206521503.SRDLC, 20.49%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 11874  | 11623  | 11392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206522116.SRDLC, 15.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 16662  | 16228  | 15878  |
| 206522309.SRDLC, 19.99%, 6/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2821  | 2709  | 2409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206522563.SRDLC, 12.24%, 2/1/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 12845  | 12572  | 12564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206523850.SRDLC, 18.49%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 4617  | 4536  | 4525  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **73** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206524034.SRDLC, 24.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | $10439  | $10154  | $9921  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206525297.SRDLC, 27.49%, 2/6/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5731  | 5503  | 3706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206526555.SRDLC, 30.99%, 2/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 3408  | 3296  | 3272  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206526855.SRDLC, 31.49%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 13411  | 12951  | 12772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206528520.SRDLC, 22.99%, 2/6/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 2072  | 1990  | 1345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206529525.SRDLC, 28.99%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 974  | 956  | 971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530264.SRDLC, 15.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5332  | 5193  | 5081  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530265.SRDLC, 28.49%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 7070  | 6873  | 6795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530320.SRDLC, 14.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5350  | 5211  | 5106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530366.SRDLC, 9.74%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 25810  | 25406  | 25391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530538.SRDLC, 27.99%, 2/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 1767  | 1734  | 1759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206530555.SRDLC, 21.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 4018  | 3910  | 3833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206531534.SRDLC, 25.99%, 2/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 10506  | 10170  | 10066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206531544.SRDLC, 9.49%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 3866  | 3805  | 3789  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206532221.SRDLC, 18.49%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 2770  | 2721  | 2720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206533162.SRDLC, 21.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5487  | 5339  | 5216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206534483.SRDLC, 24.49%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 17228  | 16637  | 16568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206538499.SRDLC, 26.49%, 10/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 8997  | 8667  | 8538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206538768.SRDLC, 22.49%, 2/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 9901  | 9725  | 9701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206538811.SRDLC, 24.49%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 17359  | 16886  | 16500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206539701.SRDLC, 23.99%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 10557  | 10269  | 10058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206540932.SRDLC, 22.49%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 1376  | 1339  | 1308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206541256.SRDLC, 32.39%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 7442  | 7157  | 7095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206541316.SRDLC, 25.49%, 2/6/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 6177  | 5930  | 779  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206541642.SRDLC, 14.99%, 2/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 3281  | 3196  | 3128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206542335.SRDLC, 15.99%, 1/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 9510  | 9264  | 9111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206542346.SRDLC, 27.49%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 2127  | 2068  | 2036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206543287.SRDLC, 20.99%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 702  | 689  | 688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206543526.SRDLC, 9.21%, 2/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 3512  | 3477  | 3495  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206543673.SRDLC, 15.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 16783  | 16343  | 16013  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206543969.SRDLC, 19.24%, 2/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 29977  | 29400  | 29497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206544330.SRDLC, 21.49%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 3086  | 3003  | 2927  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206544569.SRDLC, 9.13%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 23911  | 23538  | 23537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206547049.SRDLC, 23.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 7726  | 7518  | 7339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206548546.SRDLC, 29.99%, 2/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 21078  | 20338  | 20280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206551021.SRDLC, 12.99%, 2/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 1982  | 1950  | 1938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206551118.SRDLC, 28.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 6180  | 5965  | 5913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206552538.SRDLC, 27.49%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 5912  | 5749  | 5685  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206554697.SRDLC, 32.39%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 13281  | 12811  | 12728  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206556205.SRDLC, 23.49%, 6/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 6106  | 5862  | 546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206556577.SRDLC, 7.24%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 8932  | 8793  | 8833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206558883.SRDLC, 12.99%, 2/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 1931  | 1898  | 1906  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206559604.SRDLC, 11.24%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 7805  | 7680  | 7624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206560310.SRDLC, 25.49%, 2/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 10052  | 9870  | 9918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206561292.SRDLC, 9.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 11747  | 11529  | 11676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206562575.SRDLC, 22.99%, 2/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 12369  | 12035  | 11768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206564726.SRDLC, 25.49%, 2/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 718  | 705  | 711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206564728.SRDLC, 29.49%, 2/14/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 3094  | 2970  | 277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206566334.SRDLC, 27.49%, 2/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 4927  | 4791  | 4740  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206567768.SRDLC, 7.24%, 2/6/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/8/2024 | 16642  | 16226  | 1833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206567945.SRDLC, 29.99%, 2/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 16199  | 15673  | 15564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206569108.SRDLC, 18.49%, 2/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 19491  | 18888  | 18364  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **74** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206570543.SRDLC, 22.49%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | $11995  | $11754  | $11771  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206570640.SRDLC, 21.99%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 470  | 462  | 462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206571682.SRDLC, 25.49%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 4185  | 4070  | 3984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206572374.SRDLC, 15.00%, 7/13/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 22688  | 21806  | 19824  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206573346.SRDLC, 23.99%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 4156  | 4043  | 3957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206573975.SRDLC, 19.99%, 2/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 17417  | 16829  | 16653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206575677.SRDLC, 19.49%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 1253  | 1231  | 1232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206575841.SRDLC, 22.49%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 2271  | 2194  | 2155  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206575848.SRDLC, 17.99%, 2/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 1385  | 1360  | 1358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206576695.SRDLC, 28.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 7353  | 7146  | 7112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206577088.SRDLC, 11.49%, 2/8/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 21231  | 20700  | 4210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206577142.SRDLC, 19.49%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 7459  | 7260  | 7104  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206577804.SRDLC, 19.49%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3850  | 3781  | 3788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206578013.SRDLC, 21.49%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 7531  | 7328  | 7168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206578166.SRDLC, 25.49%, 2/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 5203  | 4995  | 465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206578266.SRDLC, 28.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 4644  | 4515  | 4450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206579508.SRDLC, 17.49%, 1/25/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 18924  | 18167  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206581264.SRDLC, 32.39%, 2/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 8854  | 8539  | 8598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206581528.SRDLC, 20.99%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 1366  | 1329  | 1300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206582409.SRDLC, 32.39%, 2/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 13281  | 12811  | 12750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206582539.SRDLC, 23.99%, 2/21/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 13285  | 12753  | 1188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206582932.SRDLC, 22.49%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 6605  | 6421  | 6308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206583320.SRDLC, 32.39%, 1/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 12993  | 12479  | 12463  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206583494.SRDLC, 26.49%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 20465  | 19810  | 19673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206583934.SRDLC, 29.99%, 2/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 7200  | 6962  | 6932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206584912.SRDLC, 32.39%, 9/23/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 14653  | 14066  | 1417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206585107.SRDLC, 22.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 6941  | 6680  | 6598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206585240.SRDLC, 21.49%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 10270  | 9993  | 9778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206585690.SRDLC, 24.49%, 2/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 5747  | 5526  | 5447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206586538.SRDLC, 25.49%, 2/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 10249  | 10046  | 10187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206587341.SRDLC, 25.49%, 2/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 1464  | 1438  | 1450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206587966.SRDLC, 31.89%, 7/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 3825  | 3678  | 342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206588396.SRDLC, 24.49%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3790  | 3687  | 3638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206589724.SRDLC, 28.49%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 6986  | 6791  | 6725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206590969.SRDLC, 8.49%, 2/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 4317  | 4249  | 4275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206592283.SRDLC, 15.74%, 2/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 35619  | 34728  | 3184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206594606.SRDLC, 26.99%, 2/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 9298  | 8926  | 831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206595617.SRDLC, 21.49%, 2/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 2344  | 2302  | 2306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206595670.SRDLC, 27.49%, 2/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 9468  | 9093  | 7264  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206597289.SRDLC, 14.36%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 13224  | 13008  | 12870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206599929.SRDLC, 9.96%, 2/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 2649  | 2607  | 2606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206600588.SRDLC, 27.49%, 2/3/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 23021  | 22100  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206602173.SRDLC, 30.99%, 2/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 1058  | 1028  | 1016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206603083.SRDLC, 12.24%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 28627  | 28047  | 27799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206603510.SRDLC, 26.49%, 2/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 21706  | 20940  | 20802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206603915.SRDLC, 9.74%, 2/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 4403  | 4358  | 4382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206606951.SRDLC, 30.99%, 2/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 8701  | 8353  | 778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206607851.SRDLC, 19.24%, 2/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 11862  | 11632  | 11543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206608134.SRDLC, 28.99%, 2/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 1217  | 1195  | 1217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206613496.SRDLC, 14.49%, 2/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3635  | 3577  | 3539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206620378.SRDLC, 7.99%, 2/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 12465  | 12270  | 12268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206636289.SRDLC, 21.49%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 2112  | 2041  | 2080  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **75** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206636457.SRDLC, 19.99%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | $3399  | $3308  | $3240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206642961.SRDLC, 13.74%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 15813  | 15558  | 15435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206647463.SRDLC, 9.24%, 2/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 19417  | 19111  | 19126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206650199.SRDLC, 9.49%, 2/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2024 | 11599  | 11416  | 11416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206650488.SRDLC, 13.99%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 23752  | 23360  | 23249  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206653367.SRDLC, 31.89%, 2/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 5361  | 5156  | 5146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206660441.SRDLC, 22.74%, 2/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 5135  | 5025  | 4880  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206661294.SRDLC, 10.49%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 32441  | 31787  | 31815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206662294.SRDLC, 24.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 3480  | 3384  | 3318  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206662755.SRDLC, 31.49%, 2/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 8828  | 8515  | 8561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206666226.SRDLC, 31.49%, 2/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 9799  | 9454  | 9436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206666955.SRDLC, 7.99%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 7031  | 6921  | 6922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206669405.SRDLC, 7.99%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 15980  | 15730  | 15732  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206672974.SRDLC, 28.49%, 2/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 12011  | 11531  | 720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206674497.SRDLC, 15.74%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 16999  | 16649  | 16475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206675765.SRDLC, 23.49%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 6911  | 6723  | 6589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206676121.SRDLC, 13.24%, 2/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 13689  | 13431  | 13600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206679078.SRDLC, 10.74%, 2/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 17459  | 17106  | 17119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206679421.SRDLC, 20.99%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 8196  | 7974  | 7823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206684032.SRDLC, 14.24%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 9909  | 9747  | 9672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206686752.SRDLC, 21.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 2054  | 1998  | 1963  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206687497.SRDLC, 8.57%, 2/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 14580  | 14289  | 14300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206692333.SRDLC, 31.89%, 9/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 14240  | 13671  | 1273  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206693787.SRDLC, 28.49%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 4067  | 3934  | 3925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206701696.SRDLC, 26.49%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 9810  | 9538  | 9347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206702193.SRDLC, 30.99%, 2/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 14295  | 13887  | 13849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206702234.SRDLC, 19.49%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 4645  | 4550  | 4562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206704769.SRDLC, 29.99%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 2892  | 2797  | 2785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206706801.SRDLC, 27.49%, 2/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 3883  | 3809  | 3870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206707395.SRDLC, 21.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 16774  | 16320  | 16004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206714632.SRDLC, 27.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 20300  | 19640  | 19531  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206715657.SRDLC, 30.99%, 6/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 16115  | 15571  | 15164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206716141.SRDLC, 12.99%, 2/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 2689  | 2660  | 2668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206726735.SRDLC, 23.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 2901  | 2822  | 2768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206730152.SRDLC, 24.99%, 2/14/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 2953  | 2836  | 2363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206734020.SRDLC, 14.24%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 9081  | 8894  | 8812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206737793.SRDLC, 9.38%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 12880  | 12675  | 12635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206738286.SRDLC, 11.24%, 2/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"> 2/21/2024 | 19577  | 19211  | 19440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206749512.SRDLC, 28.49%, 2/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 6507  | 6296  | 6299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206751332.SRDLC, 12.24%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 9815  | 9615  | 9550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206753184.SRDLC, 22.99%, 2/29/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 6455  | 6324  | 6271  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206754380.SRDLC, 29.89%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 5831  | 5638  | 5577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206754897.SRDLC, 21.99%, 2/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 1381  | 1343  | 1319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206757153.SRDLC, 13.99%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 13195  | 12980  | 12897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206757734.SRDLC, 23.49%, 2/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 10319  | 10035  | 9855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206760970.SRDLC, 11.24%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 9789  | 9605  | 9737  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206761445.SRDLC, 15.49%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 2327  | 2288  | 2271  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206763318.SRDLC, 21.49%, 2/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 6831  | 6557  | 1136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206763993.SRDLC, 14.99%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 10544  | 10265  | 10084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206764336.SRDLC, 8.24%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 22355  | 22000  | 22023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206764960.SRDLC, 16.24%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 23325  | 22840  | 22508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206765996.SRDLC, 32.39%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 4421  | 4264  | 4273  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| **76** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206768276.SRDLC, 17.64%, 2/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | $7716  | $7567  | $7677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206769267.SRDLC, 10.99%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 28455  | 27878  | 27924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206771140.SRDLC, 26.49%, 2/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 5438  | 5244  | 5248  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206772476.SRDLC, 32.39%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 7791  | 7515  | 7533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206773334.SRDLC, 21.99%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 10294  | 9968  | 10029  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206776480.SRDLC, 25.99%, 2/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3184  | 3078  | 3074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206783222.SRDLC, 32.39%, 2/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 10181  | 9773  | 910  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206787116.SRDLC, 13.24%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 6178  | 6077  | 6040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206791550.SRDLC, 21.99%, 2/20/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 2267  | 2176  | 203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206795238.SRDLC, 24.49%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 11162  | 10777  | 10788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206795411.SRDLC, 17.24%, 2/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 25498  | 24965  | 24743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206795884.SRDLC, 20.99%, 2/28/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 17036  | 16354  | 3867  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206799568.SRDLC, 14.99%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 6631  | 6456  | 6342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206799674.SRDLC, 25.99%, 2/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 8117  | 7856  | 7859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206800288.SRDLC, 21.49%, 2/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 9522  | 9262  | 9092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206800576.SRDLC, 7.00%, 2/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 11444  | 11264  | 11316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206802964.SRDLC, 17.69%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 6603  | 6475  | 6567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206803063.SRDLC, 8.24%, 2/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 15362  | 15118  | 15135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206804597.SRDLC, 21.99%, 2/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 3344  | 3282  | 3295  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206810695.SRDLC, 9.74%, 2/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 8345  | 8210  | 8221  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206811341.SRDLC, 26.49%, 2/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 17786  | 17075  | 4202  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206812968.SRDLC, 29.99%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 8181  | 7912  | 7926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206814439.SRDLC, 21.49%, 3/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2024 | 3407  | 3278  | 3333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206815368.SRDLC, 26.49%, 2/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 21746  | 20990  | 20944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206816139.SRDLC, 10.00%, 7/20/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 7548  | 7265  | 6651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206817054.SRDLC, 10.74%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 14385  | 14152  | 14173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206818133.SRDLC, 10.74%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 12995  | 12781  | 12657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206818207.SRDLC, 23.99%, 3/5/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 778  | 747  | 61  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206819391.SRDLC, 17.24%, 2/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 6025  | 5898  | 5850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206822930.SRDLC, 10.99%, 2/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 12195  | 11947  | 11974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206827601.SRDLC, 27.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 8806  | 8554  | 8367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206832395.SRDLC, 10.99%, 2/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 2217  | 2178  | 2182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206832615.SRDLC, 15.00%, 5/22/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 4401  | 4233  | 3888  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206834470.SRDLC, 25.99%, 2/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 1439  | 1412  | 1431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206835180.SRDLC, 23.99%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 5185  | 5019  | 5035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206837166.SRDLC, 27.49%, 2/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 6228  | 6010  | 6055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206837462.SRDLC, 30.99%, 3/31/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 13486  | 12946  | 974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206838735.SRDLC, 27.49%, 2/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 7173  | 7031  | 7109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206841786.SRDLC, 22.49%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 3440  | 3342  | 3281  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206841881.SRDLC, 7.24%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3875  | 3813  | 3838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206843128.SRDLC, 30.99%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 2323  | 2256  | 2255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206845110.SRDLC, 30.99%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 13662  | 13178  | 13274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206851125.SRDLC, 9.74%, 2/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 10969  | 10793  | 10809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206851374.SRDLC, 14.99%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 4088  | 3977  | 3875  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206856414.SRDLC, 9.76%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 29092  | 28504  | 28573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206857031.SRDLC, 12.38%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 14394  | 14159  | 14035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206858805.SRDLC, 29.99%, 2/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 11454  | 11077  | 11149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206859256.SRDLC, 30.49%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 5280  | 5093  | 5131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206862143.SRDLC, 9.13%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 15435  | 15187  | 15213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206862452.SRDLC, 30.99%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3696  | 3574  | 3592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206862550.SRDLC, 22.99%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 34265  | 33530  | 32832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206866112.SRDLC, 15.24%, 2/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2024 | 12440  | 12181  | 12107  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **77** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206866684.SRDLC, 19.99%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | $5711  | $5550  | $5455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206867521.SRDLC, 26.99%, 3/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 9729  | 9387  | 9374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206869591.SRDLC, 21.49%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 5756  | 5595  | 5451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206869869.SRDLC, 15.24%, 2/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 12440  | 12182  | 12091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206870626.SRDLC, 12.99%, 2/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 2625  | 2582  | 2569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206872570.SRDLC, 27.49%, 2/26/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3278  | 3147  | 579  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206879472.SRDLC, 10.49%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 9718  | 9560  | 9515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206880786.SRDLC, 23.49%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 5874  | 5711  | 5635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206882488.SRDLC, 10.24%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 12616  | 12411  | 12357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206883174.SRDLC, 32.39%, 2/28/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 1308  | 1261  | 1291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206883946.SRDLC, 28.49%, 2/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 13464  | 13077  | 13089  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206884370.SRDLC, 30.99%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 8263  | 7990  | 8012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206884712.SRDLC, 19.99%, 2/11/2027 (a)(n)(r) | "> Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3307  | 3217  | 3156  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206888755.SRDLC, 19.99%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 6797  | 6612  | 6512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206890382.SRDLC, 23.99%, 3/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 8579  | 8303  | 8195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206891791.SRDLC, 12.37%, 2/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 9814  | 9653  | 9608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206893673.SRDLC, 23.99%, 3/4/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 6922  | 6645  | 330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206895588.SRDLC, 32.39%, 3/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2024 | 13426  | 12946  | 12781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206895753.SRDLC, 14.99%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 9947  | 9681  | 9531  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206897990.SRDLC, 32.39%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 13281  | 12809  | 12892  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206900700.SRDLC, 10.00%, 7/26/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 5375  | 5172  | 4746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206903125.SRDLC, 31.89%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 3046  | 2945  | 2959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206906819.SRDLC, 31.89%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 4115  | 3980  | 3998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206908138.SRDLC, 28.99%, 2/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 586  | 575  | 587  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206916117.SRDLC, 10.49%, 2/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 18024  | 17679  | 17929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206917295.SRDLC, 15.24%, 2/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 7464  | 7309  | 7294  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206917551.SRDLC, 14.99%, 2/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 6336  | 6157  | 6075  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206923791.SRDLC, 23.49%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2024 | 7214  | 7011  | 6823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206926761.SRDLC, 15.49%, 8/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 16900  | 16491  | 16308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206930451.SRDLC, 27.49%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 1406  | 1366  | 1369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206934152.SRDLC, 23.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 8611  | 8366  | 8175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206935154.SRDLC, 17.49%, 2/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/1/2024 | 12727  | 12330  | 12063  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206937677.SRDLC, 21.49%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 8518  | 8282  | 8060  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206939430.SRDLC, 7.83%, 2/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/29/2024 | 26633  | 26140  | 26512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206942611.SRDLC, 31.89%, 3/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 8389  | 8109  | 8006  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206943401.SRDLC, 19.49%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 12022  | 11541  | 1986  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206944802.SRDLC, 32.39%, 3/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 6319  | 6094  | 6019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206945566.SRDLC, 24.99%, 3/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 2162  | 2101  | 2042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206954209.SRDLC, 23.99%, 2/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 13529  | 13094  | 13073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206957919.SRDLC, 29.99%, 3/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2024 | 9167  | 8862  | 8800  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206966762.SRDLC, 32.39%, 3/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 7993  | 7730  | 7558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206968435.SRDLC, 32.39%, 3/4/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 13190  | 12662  | 1179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206970231.SRDLC, 10.00%, 9/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2024 | 10202  | 9823  | 9420  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206970932.SRDLC, 11.99%, 2/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2024 | 16992  | 16644  | 16574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206971632.SRDLC, 25.49%, 3/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 2686  | 2631  | 2650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206972271.SRDLC, 27.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 4370  | 4243  | 4200  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206972436.SRDLC, 32.39%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2024 | 4561  | 4401  | 4356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206979916.SRDLC, 24.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 18017  | 17500  | 17121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206983954.SRDLC, 12.99%, 3/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2024 | 3383  | 3317  | 3325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206985352.SRDLC, 21.49%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 1590  | 1545  | 1512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206985529.SRDLC, 8.24%, 2/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2024 | 22403  | 22042  | 22088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 206986371.SRDLC, 28.49%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2024 | 10969  | 10650  | 10527  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **78** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 206995219.SRDLC, 28.99%, 3/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2024 | $7149  | $7005  | $7098  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207000395.SRDLC, 21.49%, 3/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 8518  | 8281  | 8065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207003022.SRDLC, 13.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 8836  | 8596  | 8423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207003453.SRDLC, 27.99%, 3/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 8753  | 8467  | 8374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207009130.SRDLC, 27.49%, 3/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 5098  | 4952  | 4865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207010768.SRDLC, 30.99%, 2/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 3526  | 3424  | 3396  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207015979.SRDLC, 30.99%, 3/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 4175  | 4054  | 3978  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207018904.SRDLC, 32.39%, 3/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 11636  | 11220  | 11137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207032620.SRDLC, 24.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2024 | 10810  | 10503  | 10232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207038216.SRDLC, 27.49%, 3/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/8/2024 | 14201  | 13795  | 13553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207039650.SRDLC, 25.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 7222  | 7014  | 6862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207054307.SRDLC, 27.49%, 8/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 5966  | 5727  | 332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207054733.SRDLC, 19.99%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 11153  | 10707  | 10551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207061665.SRDLC, 30.99%, 3/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 155  | 149  | 150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207066328.SRDLC, 30.99%, 3/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2024 | 5018  | 4851  | 4806  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207071411.SRDLC, 19.99%, 3/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 3526  | 3428  | 3342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207079145.SRDLC, 28.49%, 3/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 16805  | 16212  | 16081  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207080362.SRDLC, 15.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2024 | 17386  | 16907  | 16575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207085467.SRDLC, 25.49%, 3/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2024 | 9524  | 9143  | 851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207086715.SRDLC, 18.99%, 3/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 3536  | 3467  | 3473  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207097003.SRDLC, 13.24%, 3/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 6955  | 6811  | 6863  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207099476.SRDLC, 30.99%, 3/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 18273  | 17622  | 17483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207101200.SRDLC, 32.39%, 3/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 13519  | 13036  | 12886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207112547.SRDLC, 23.49%, 3/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 21748  | 20938  | 20796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207115908.SRDLC, 23.49%, 4/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 17523  | 16915  | 16612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207124193.SRDLC, 15.24%, 3/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2024 | 12574  | 12328  | 12433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207132650.SRDLC, 16.49%, 3/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 11857  | 11607  | 11692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207135412.SRDLC, 16.74%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 34026  | 33309  | 33414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207135445.SRDLC, 14.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 616  | 600  | 608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207137665.SRDLC, 32.39%, 3/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 8640  | 8331  | 8234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207138091.SRDLC, 30.99%, 4/1/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 2974  | 2855  | 266  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207140260.SRDLC, 23.49%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 15044  | 14586  | 14209  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207142341.SRDLC, 13.99%, 3/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 2958  | 2902  | 2899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207146346.SRDLC, 32.39%, 3/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 4506  | 4345  | 4295  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207148926.SRDLC, 14.24%, 3/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 27470  | 27006  | 26996  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207158731.SRDLC, 28.99%, 3/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | 8859  | 8545  | 8488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207160618.SRDLC, 10.49%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2024 | 26253  | 25815  | 26033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207169379.SRDLC, 32.39%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 13379  | 12900  | 12831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207170097.SRDLC, 15.99%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 12482  | 12138  | 11885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207175512.SRDLC, 28.49%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 2773  | 2692  | 2649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207176349.SRDLC, 23.99%, 3/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 517  | 507  | 511  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207176648.SRDLC, 14.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 3446  | 3351  | 3285  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207177400.SRDLC, 24.99%, 3/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 6936  | 6737  | 6556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207177491.SRDLC, 28.49%, 3/13/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 11260  | 10810  | 1007  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207179660.SRDLC, 30.99%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 8160  | 7834  | 1349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207179986.SRDLC, 30.99%, 3/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 12977  | 12461  | 12433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207180107.SRDLC, 27.49%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 19543  | 18763  | 18196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207180876.SRDLC, 14.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 17230  | 16758  | 16425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207181343.SRDLC, 28.49%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6368  | 6143  | 6133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207182667.SRDLC, 25.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 4342  | 4217  | 4125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207183671.SRDLC, 28.99%, 3/18/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6316  | 6064  | 1043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207184380.SRDLC, 21.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 9583  | 9313  | 9113  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **79** |

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**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 207184669.SRDLC, 21.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | $6389  | $6208  | $6075  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207185311.SRDLC, 13.74%, 3/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2024 | 4450  | 4375  | 4374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207185942.SRDLC, 18.99%, 3/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 25660  | 25113  | 25002  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207186771.SRDLC, 25.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 9755  | 9475  | 9231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207187282.SRDLC, 23.49%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 8892  | 8536  | 795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207189445.SRDLC, 28.49%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6099  | 5882  | 5873  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207192647.SRDLC, 22.49%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 11064  | 10749  | 10487  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207192864.SRDLC, 18.99%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 1391  | 1352  | 1323  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207203419.SRDLC, 30.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 2955  | 2868  | 2836  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207204473.SRDLC, 27.49%, 3/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 22259  | 21465  | 21326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207204843.SRDLC, 32.39%, 3/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 10866  | 10485  | 10427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207204933.SRDLC, 30.99%, 3/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 12682  | 12260  | 12250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207206158.SRDLC, 8.99%, 3/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 12050  | 11852  | 11948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207206340.SRDLC, 11.12%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 7875  | 7739  | 7764  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207210284.SRDLC, 32.39%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 22377  | 21575  | 21491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207213262.SRDLC, 14.99%, 3/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/15/2024 | 10338  | 10162  | 10158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207215838.SRDLC, 27.49%, 3/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 8443  | 8199  | 8141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207217425.SRDLC, 28.99%, 3/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 2648  | 2593  | 2641  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207219726.SRDLC, 21.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 3550  | 3450  | 3367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207221012.SRDLC, 23.49%, 3/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6322  | 6142  | 5977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207222163.SRDLC, 24.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6486  | 6300  | 6163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207222679.SRDLC, 23.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 14322  | 13913  | 13617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207222770.SRDLC, 22.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 7130  | 6928  | 6777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207223247.SRDLC, 25.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 8685  | 8433  | 8250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207224170.SRDLC, 28.49%, 9/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6861  | 6590  | 6392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207224646.SRDLC, 16.74%, 3/14/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 9994  | 9874  | 10017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207228981.SRDLC, 32.39%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 7608  | 7335  | 7307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207230361.SRDLC, 23.49%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 6454  | 6270  | 6127  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207230763.SRDLC, 14.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 3187  | 3100  | 3039  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207234257.SRDLC, 16.49%, 3/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2024 | 3289  | 3213  | 3250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207235359.SRDLC, 26.99%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 4206  | 4038  | 376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207236121.SRDLC, 23.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 3938  | 3826  | 3745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207239721.SRDLC, 26.99%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 2252  | 2187  | 2151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207241126.SRDLC, 30.99%, 3/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 2242  | 2176  | 2123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207241657.SRDLC, 27.49%, 3/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 5516  | 5295  | 1431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207246435.SRDLC, 9.24%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 11328  | 11140  | 11237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207255490.SRDLC, 7.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 15187  | 14937  | 15129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207257867.SRDLC, 10.74%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2024 | 1080  | 1062  | 1071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207268640.SRDLC, 13.25%, 4/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 11909  | 11658  | 11746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207292980.SRDLC, 12.24%, 3/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2024 | 8837  | 8687  | 8706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207295338.SRDLC, 32.39%, 4/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 11006  | 10618  | 10368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207299205.SRDLC, 14.99%, 4/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2024 | 12154  | 11813  | 11472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207307173.SRDLC, 27.49%, 8/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 12990  | 12471  | 2200  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207326146.SRDLC, 12.24%, 3/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2024 | 19485  | 19081  | 19393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207345337.SRDLC, 14.24%, 4/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 2570  | 2536  | 2556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207351023.SRDLC, 10.74%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 4208  | 4137  | 4175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207355424.SRDLC, 9.24%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2024 | 8043  | 7909  | 7983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207359134.SRDLC, 25.49%, 3/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2024 | 21894  | 21414  | 21135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207369529.SRDLC, 18.49%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 12243  | 11846  | 11502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207371590.SRDLC, 8.24%, 3/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2024 | 9660  | 9500  | 9631  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207392814.SRDLC, 32.39%, 4/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 10718  | 10340  | 10165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207395613.SRDLC, 16.24%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 5546  | 5448  | 5444  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| **80** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 207398110.SRDLC, 14.95%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2024 | $15598  | $15293  | $15625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207400295.SRDLC, 23.49%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 1823  | 1770  | 1705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207411843.SRDLC, 21.49%, 4/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 830  | 812  | 808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207431911.SRDLC, 8.99%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2024 | 4020  | 3952  | 3994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207438976.SRDLC, 27.49%, 4/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 3761  | 3649  | 3550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207444404.SRDLC, 21.49%, 4/3/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/5/2024 | 10358  | 10142  | 10085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207451472.SRDLC, 32.39%, 4/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 13567  | 13078  | 12775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207452833.SRDLC, 20.49%, 4/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 7802  | 7490  | 1816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207454646.SRDLC, 31.89%, 4/2/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 9891  | 9495  | 637  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207461718.SRDLC, 23.74%, 4/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 35266  | 34494  | 33635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207462446.SRDLC, 32.39%, 4/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 4981  | 4801  | 4705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207466353.SRDLC, 20.99%, 4/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 21841  | 21081  | 20573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207473074.SRDLC, 26.49%, 4/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 7246  | 7027  | 6773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207473817.SRDLC, 23.99%, 4/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 1901  | 1860  | 1866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207474306.SRDLC, 26.49%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 1124  | 1090  | 1057  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207475754.SRDLC, 32.39%, 4/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 8140  | 7846  | 7688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207482053.SRDLC, 21.49%, 4/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 2463  | 2410  | 2395  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207486299.SRDLC, 21.49%, 4/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 8157  | 7986  | 7942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207487765.SRDLC, 22.49%, 4/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 16533  | 15994  | 15790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207488823.SRDLC, 25.49%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 2986  | 2898  | 2791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207490408.SRDLC, 11.49%, 3/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 26909  | 26448  | 26555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207490555.SRDLC, 23.49%, 4/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 3839  | 3727  | 3600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207493587.SRDLC, 30.99%, 4/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 762  | 739  | 716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207504166.SRDLC, 19.49%, 4/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 4005  | 3921  | 3893  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207508898.SRDLC, 15.24%, 4/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 14465  | 14179  | 14452  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207513722.SRDLC, 24.49%, 3/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/5/2024 | 10400  | 10035  | 9985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207515918.SRDLC, 32.39%, 4/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 7283  | 7021  | 6846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207520044.SRDLC, 7.99%, 4/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 19399  | 19074  | 19338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207522441.SRDLC, 21.49%, 4/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 4424  | 4331  | 4306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207525423.SRDLC, 32.39%, 4/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 4522  | 4359  | 4258  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207526774.SRDLC, 15.00%, 7/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2024 | 3971  | 3873  | 3512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207537736.SRDLC, 21.49%, 4/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/2/2024 | 1769  | 1730  | 1722  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207542120.SRDLC, 27.99%, 4/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2024 | 6518  | 6300  | 6203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207544906.SRDLC, 28.49%, 4/16/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 8510  | 8170  | 2121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207556646.SRDLC, 29.39%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 8368  | 8119  | 7842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207557225.SRDLC, 29.49%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 3059  | 2967  | 2874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207559433.SRDLC, 19.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 5841  | 5674  | 5488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207562572.SRDLC, 23.99%, 4/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 6398  | 6187  | 6067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207565164.SRDLC, 27.49%, 4/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 2838  | 2776  | 2799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207566002.SRDLC, 14.99%, 4/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 5505  | 5350  | 5201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207576184.SRDLC, 21.99%, 4/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 1940  | 1899  | 1888  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207576650.SRDLC, 29.89%, 4/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 6861  | 6630  | 6505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207581402.SRDLC, 27.99%, 4/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 6072  | 5851  | 5749  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207586483.SRDLC, 28.49%, 4/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 14363  | 13851  | 13555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207592478.SRDLC, 23.99%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 8083  | 7846  | 7585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207593904.SRDLC, 15.00%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 12866  | 12412  | 10911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207594132.SRDLC, 32.39%, 3/25/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 5446  | 5229  | 5216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207596115.SRDLC, 27.49%, 4/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 4750  | 4560  | 425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207597961.SRDLC, 18.49%, 4/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 3628  | 3525  | 3423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207598039.SRDLC, 19.49%, 4/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 4783  | 4645  | 4506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207601108.SRDLC, 26.99%, 4/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 1501  | 1457  | 1419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207601979.SRDLC, 26.49%, 4/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 9556  | 9238  | 9066  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **81** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 207602179.SRDLC, 30.49%, 4/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | $15725  | $15176  | $14741  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207602725.SRDLC, 30.49%, 4/8/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 7467  | 7169  | 1211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207605863.SRDLC, 27.49%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2024 | 7517  | 7296  | 7171  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207607756.SRDLC, 23.49%, 4/8/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 16491  | 15831  | 1474  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207608253.SRDLC, 27.49%, 4/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 4257  | 4164  | 4204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207611503.SRDLC, 25.49%, 4/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 2568  | 2492  | 2417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207611533.SRDLC, 27.49%, 4/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 2275  | 2222  | 2232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207613225.SRDLC, 12.24%, 4/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 8455  | 8278  | 8419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207617133.SRDLC, 32.39%, 4/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 12640  | 12219  | 11937  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207618630.SRDLC, 30.99%, 4/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 4512  | 4353  | 4259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207619524.SRDLC, 19.49%, 4/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 4372  | 4246  | 4118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207623639.SRDLC, 14.99%, 4/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 14298  | 13895  | 13515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207626764.SRDLC, 12.99%, 4/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 6930  | 6782  | 6752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207628434.SRDLC, 11.49%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 11909  | 11677  | 11976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207634856.SRDLC, 32.39%, 4/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 9055  | 8728  | 8543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207637239.SRDLC, 28.49%, 4/12/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 7422  | 7125  | 1851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207645534.SRDLC, 30.99%, 8/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 2214  | 2127  | 2050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207659022.SRDLC, 26.49%, 4/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 12298  | 11806  | 11664  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207664379.SRDLC, 29.89%, 4/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 5087  | 4915  | 4841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207683802.SRDLC, 14.99%, 4/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 4647  | 4516  | 4393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207683985.SRDLC, 28.99%, 4/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 3998  | 3908  | 3963  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207686565.SRDLC, 22.49%, 4/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 4546  | 4395  | 4378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207686904.SRDLC, 21.49%, 4/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 2765  | 2704  | 2700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207704649.SRDLC, 21.49%, 4/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 5686  | 5562  | 5546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207716079.SRDLC, 30.99%, 5/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 10269  | 9858  | 1652  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207717030.SRDLC, 12.99%, 4/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 1320  | 1293  | 1288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207722460.SRDLC, 23.99%, 4/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 20001  | 19318  | 19077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207724482.SRDLC, 21.99%, 4/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 5321  | 5203  | 5189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207726770.SRDLC, 25.99%, 4/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 12597  | 12177  | 11982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207727396.SRDLC, 21.49%, 4/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 3042  | 2976  | 2958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207740932.SRDLC, 28.99%, 4/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 4457  | 4356  | 4396  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207742153.SRDLC, 25.49%, 4/9/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 2773  | 2712  | 2721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207743999.SRDLC, 21.49%, 4/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 8822  | 8535  | 8298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207747299.SRDLC, 21.49%, 4/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2024 | 1106  | 1082  | 1078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207751602.SRDLC, 26.49%, 4/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 16986  | 16382  | 16117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207752990.SRDLC, 26.99%, 4/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 11242  | 10842  | 10625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207753283.SRDLC, 30.99%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 2287  | 2218  | 2153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207754058.SRDLC, 23.99%, 4/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 1808  | 1768  | 1774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207755005.SRDLC, 21.99%, 4/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 554  | 542  | 540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207756401.SRDLC, 21.99%, 4/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 1937  | 1874  | 1862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207756636.SRDLC, 28.99%, 3/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 4357  | 4201  | 4135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207757122.SRDLC, 24.99%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 3725  | 3614  | 3503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207763271.SRDLC, 32.39%, 4/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 9686  | 9298  | 1662  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207764031.SRDLC, 30.99%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 5041  | 4847  | 4757  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207766989.SRDLC, 25.99%, 4/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 20084  | 19413  | 19122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207769625.SRDLC, 31.89%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3380  | 3264  | 3231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207771683.SRDLC, 26.49%, 4/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 2841  | 2778  | 2783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207774063.SRDLC, 17.99%, 4/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 2449  | 2396  | 2389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207776688.SRDLC, 26.49%, 12/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 23195  | 22267  | 3710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207779178.SRDLC, 21.99%, 4/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 2919  | 2829  | 2806  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207790546.SRDLC, 26.49%, 4/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 8449  | 8148  | 8020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207794060.SRDLC, 29.49%, 4/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 8264  | 7962  | 7823  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **82** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 207799221.SRDLC, 27.49%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2024 | $7521  | $7296  | $7158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207800233.SRDLC, 25.49%, 4/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 4898  | 4752  | 4608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207803705.SRDLC, 19.49%, 4/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 11972  | 11713  | 11753  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207805589.SRDLC, 26.99%, 4/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 8413  | 8076  | 600  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207807405.SRDLC, 17.99%, 4/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 1634  | 1598  | 1593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207807774.SRDLC, 32.39%, 4/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 12663  | 12204  | 12016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207812981.SRDLC, 28.99%, 4/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 8050  | 7731  | 1064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207817410.SRDLC, 22.49%, 4/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 7333  | 7119  | 6912  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207818343.SRDLC, 30.99%, 4/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 18021  | 17371  | 17113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207818370.SRDLC, 19.99%, 4/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 4353  | 4201  | 4120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207819257.SRDLC, 16.74%, 4/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 32383  | 31730  | 31938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207819377.SRDLC, 26.99%, 4/24/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 6477  | 6218  | 6132  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207820394.SRDLC, 16.49%, 4/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 6461  | 6332  | 6369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207830961.SRDLC, 26.99%, 4/18/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 14235  | 13665  | 1273  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207832196.SRDLC, 21.49%, 4/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/19/2024 | 6979  | 6775  | 6581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207837332.SRDLC, 25.49%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 8210  | 7966  | 7734  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207840125.SRDLC, 14.99%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 6434  | 6251  | 6091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207847936.SRDLC, 25.49%, 8/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 13237  | 12707  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207852113.SRDLC, 25.99%, 4/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 9205  | 8897  | 8783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207855493.SRDLC, 27.49%, 4/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 4933  | 4772  | 4716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207855963.SRDLC, 29.49%, 4/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2024 | 10231  | 9921  | 9730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207862608.SRDLC, 23.99%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 7282  | 7004  | 6862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207864432.SRDLC, 31.89%, 4/19/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2024 | 7555  | 7253  | 675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207866407.SRDLC, 23.99%, 4/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 18281  | 17672  | 17425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207886285.SRDLC, 23.49%, 4/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 4467  | 4335  | 4179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207890088.SRDLC, 16.49%, 4/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 10746  | 10515  | 10574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207891634.SRDLC, 32.39%, 4/28/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 18949  | 18191  | 17876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207894447.SRDLC, 21.49%, 4/24/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 17229  | 16540  | 1540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207898355.SRDLC, 13.99%, 4/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 10678  | 10375  | 10111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207900316.SRDLC, 27.49%, 4/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 5799  | 5591  | 5514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207902617.SRDLC, 32.39%, 4/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 7243  | 6958  | 6871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207903003.SRDLC, 31.89%, 4/26/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 9809  | 9417  | 1749  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207903452.SRDLC, 17.99%, 4/22/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 2414  | 2363  | 2353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207904669.SRDLC, 27.99%, 4/29/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 22097  | 21213  | 5707  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207904809.SRDLC, 21.99%, 4/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 12537  | 12123  | 12078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207907261.SRDLC, 14.99%, 5/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 14929  | 14504  | 14032  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207913612.SRDLC, 32.39%, 4/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 9871  | 9526  | 9437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207915481.SRDLC, 29.99%, 9/23/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3060  | 2938  | 776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207918199.SRDLC, 30.99%, 4/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 5406  | 5211  | 5154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207918393.SRDLC, 21.49%, 4/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 4775  | 4635  | 4512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207918931.SRDLC, 30.99%, 4/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 7987  | 7744  | 7609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207919387.SRDLC, 15.00%, 9/23/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 8811  | 8463  | 8114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207919516.SRDLC, 27.49%, 4/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3973  | 3882  | 3945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207922466.SRDLC, 21.49%, 4/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 10290  | 9894  | 9702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207923143.SRDLC, 14.99%, 4/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3717  | 3611  | 3523  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207923330.SRDLC, 30.49%, 5/1/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 9795  | 9441  | 9158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207923407.SRDLC, 24.49%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 6654  | 6457  | 6268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207924509.SRDLC, 17.99%, 4/23/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 8661  | 8316  | 7995  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207925547.SRDLC, 21.49%, 4/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3765  | 3654  | 3558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207926442.SRDLC, 24.99%, 4/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 14066  | 13566  | 13401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207927675.SRDLC, 19.49%, 4/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 822  | 804  | 803  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207930227.SRDLC, 17.49%, 4/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 20273  | 19614  | 19065  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **83** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 207935335.SRDLC, 32.39%, 4/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | $5427  | $5230  | $5183  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207938063.SRDLC, 21.49%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 2836  | 2751  | 2686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207938657.SRDLC, 27.49%, 4/25/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 4886  | 4691  | 437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207942096.SRDLC, 28.99%, 4/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 246  | 240  | 244  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207945271.SRDLC, 21.49%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 3960  | 3844  | 3747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207952174.SRDLC, 14.99%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 8221  | 7985  | 7797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207962203.SRDLC, 27.49%, 4/26/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 5675  | 5546  | 5644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207969504.SRDLC, 27.49%, 4/29/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 9287  | 8916  | 830  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207970149.SRDLC, 29.99%, 4/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 6784  | 6552  | 6522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207974568.SRDLC, 23.99%, 4/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 5152  | 4980  | 4942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207976639.SRDLC, 32.39%, 4/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 6331  | 6101  | 6056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207977522.SRDLC, 23.99%, 4/29/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 1789  | 1749  | 1764  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207978169.SRDLC, 26.49%, 4/29/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 18017  | 17297  | 1611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207978373.SRDLC, 32.39%, 4/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 13567  | 13074  | 12977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207984224.SRDLC, 21.49%, 4/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 4446  | 4299  | 4293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207987441.SRDLC, 23.49%, 4/16/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 5495  | 5374  | 5402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 207988250.SRDLC, 31.89%, 4/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 2048  | 1977  | 1968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 208022793.SRDLC, 16.49%, 4/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/1/2024 | 11347  | 11103  | 11184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 208055965.SRDLC, 12.74%, 4/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/2/2024 | 12352  | 12086  | 12219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210051844.SRDLC, 10.99%, 9/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 5479  | 5382  | 5309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210166285.SRDLC, 20.99%, 9/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 23237  | 22701  | 21869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210257743.SRDLC, 30.99%, 9/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 7918  | 7746  | 7400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210300770.SRDLC, 23.49%, 9/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 6037  | 5928  | 5812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210339559.SRDLC, 25.99%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 3099  | 3033  | 2900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210341609.SRDLC, 21.49%, 9/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 12004  | 11753  | 11276  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210358662.SRDLC, 26.49%, 9/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 6067  | 5957  | 5833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210368239.SRDLC, 23.49%, 9/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 1315  | 1283  | 866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210406417.SRDLC, 9.74%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 29027  | 28437  | 28740  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210410939.SRDLC, 8.57%, 9/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 14014  | 13700  | 13814  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210468260.SRDLC, 22.49%, 9/5/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 18746  | 18277  | 1035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210478445.SRDLC, 32.39%, 9/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 13492  | 13161  | 12586  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210484039.SRDLC, 9.24%, 9/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/17/2024 | 11158  | 10931  | 11036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210487818.SRDLC, 15.74%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 10961  | 10717  | 10802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210490291.SRDLC, 16.24%, 9/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 13807  | 13492  | 13401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210492609.SRDLC, 23.99%, 9/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 6797  | 6645  | 6409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210517714.SRDLC, 26.99%, 9/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 2575  | 2505  | 2434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210533623.SRDLC, 19.49%, 9/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 6379  | 6263  | 6126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210538544.SRDLC, 20.49%, 9/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 8501  | 8289  | 7916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210542096.SRDLC, 21.49%, 9/12/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 18813  | 18343  | 4422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210545811.SRDLC, 22.49%, 9/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 16911  | 16557  | 15812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210548104.SRDLC, 32.39%, 9/14/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 7849  | 7653  | 1246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210548128.SRDLC, 22.49%, 9/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 12811  | 12543  | 11993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210549617.SRDLC, 29.99%, 12/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 2309  | 2258  | 2152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210556319.SRDLC, 22.49%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 9461  | 9263  | 8898  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210563588.SRDLC, 23.49%, 9/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 5674  | 5531  | 5254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210568127.SRDLC, 27.49%, 9/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 3297  | 3213  | 3030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210573115.SRDLC, 15.75%, 9/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 27274  | 26653  | 26317  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210574040.SRDLC, 25.99%, 9/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 6886  | 6712  | 6359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210575699.SRDLC, 28.49%, 9/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 13078  | 12745  | 12021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210577054.SRDLC, 24.99%, 9/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 5154  | 5023  | 4760  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210578452.SRDLC, 22.99%, 9/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 1710  | 1667  | 1580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210583421.SRDLC, 26.49%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 3207  | 3120  | 3015  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| **84** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 210585615.SRDLC, 20.49%, 9/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | $4494  | $4413  | $4326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210587322.SRDLC, 26.49%, 9/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 6103  | 5962  | 5733  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210590753.SRDLC, 17.49%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 8009  | 7833  | 7577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210592826.SRDLC, 23.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1843  | 1804  | 1719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210596510.SRDLC, 27.49%, 9/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 23515  | 22965  | 21983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210600366.SRDLC, 16.99%, 9/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 3712  | 3645  | 3592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210602254.SRDLC, 29.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 23972  | 23405  | 22553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210603757.SRDLC, 24.99%, 9/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 7215  | 7062  | 6701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210604820.SRDLC, 28.49%, 9/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 14813  | 14480  | 13923  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210613976.SRDLC, 23.49%, 9/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 7704  | 7542  | 7158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210614531.SRDLC, 24.49%, 9/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 6532  | 6385  | 6151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210617040.SRDLC, 9.24%, 9/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 5951  | 5830  | 5883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210628442.SRDLC, 30.99%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 2641  | 2577  | 2453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210631102.SRDLC, 13.99%, 9/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 25707  | 25146  | 25379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210631857.SRDLC, 26.99%, 9/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 4103  | 4011  | 3870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210643991.SRDLC, 23.49%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 13167  | 12884  | 12201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210644014.SRDLC, 28.49%, 9/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 7940  | 7743  | 7366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210646883.SRDLC, 22.99%, 9/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 10151  | 9925  | 9578  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210647772.SRDLC, 32.39%, 9/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 6162  | 6017  | 5820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210653683.SRDLC, 32.39%, 9/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 11448  | 11170  | 10767  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210655031.SRDLC, 26.49%, 9/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 4733  | 4623  | 4450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210658206.SRDLC, 16.99%, 9/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 1856  | 1819  | 1799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210660091.SRDLC, 25.99%, 9/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 23411  | 22868  | 22077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210661857.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 11619  | 11354  | 10875  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210662274.SRDLC, 15.99%, 9/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 13624  | 13339  | 12916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210663605.SRDLC, 10.99%, 9/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 5114  | 5024  | 4954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210665871.SRDLC, 14.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 20133  | 19719  | 19033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210666303.SRDLC, 25.49%, 9/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 2736  | 2675  | 2585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210671265.SRDLC, 29.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 13024  | 12746  | 12062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210672217.SRDLC, 26.49%, 8/31/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1466  | 1439  | 1411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210678182.SRDLC, 32.39%, 9/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 13817  | 13507  | 12981  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210679224.SRDLC, 15.74%, 9/9/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 33420  | 32585  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210679636.SRDLC, 9.25%, 9/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 15292  | 14982  | 15114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210681237.SRDLC, 23.99%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 13488  | 13186  | 12741  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210681276.SRDLC, 20.99%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 10260  | 10043  | 9682  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210681666.SRDLC, 23.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 4114  | 4027  | 3826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210681737.SRDLC, 11.49%, 9/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 112  | 110  | 112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210685667.SRDLC, 28.49%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7791  | 7611  | 7335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210685880.SRDLC, 22.99%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 1131  | 1110  | 1090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210691388.SRDLC, 12.99%, 9/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 4489  | 4397  | 4247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210691999.SRDLC, 28.49%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 9521  | 9317  | 8859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210694397.SRDLC, 22.99%, 9/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 754  | 740  | 726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210695929.SRDLC, 15.99%, 9/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 5887  | 5765  | 5570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210697354.SRDLC, 24.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 8982  | 8793  | 8353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210701867.SRDLC, 22.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 855  | 837  | 795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210702231.SRDLC, 22.99%, 9/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 790  | 776  | 762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210702472.SRDLC, 21.49%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 3749  | 3671  | 3513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210707174.SRDLC, 28.49%, 9/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 18843  | 18404  | 17672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210714248.SRDLC, 17.24%, 9/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 16726  | 16344  | 16219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210715912.SRDLC, 21.49%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 5113  | 5006  | 4790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210717183.SRDLC, 30.99%, 9/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 8514  | 8314  | 7980  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210720420.SRDLC, 16.99%, 9/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 2970  | 2916  | 2874  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **85** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 210723541.SRDLC, 21.49%, 9/17/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | $10252  | $9995  | $916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210731592.SRDLC, 14.99%, 9/11/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 7471  | 7317  | 7079  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210731989.SRDLC, 23.49%, 9/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 11978  | 11727  | 11142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210734051.SRDLC, 22.49%, 9/12/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 10563  | 10310  | 10147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210736180.SRDLC, 9.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 16978  | 16633  | 16781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210740533.SRDLC, 20.49%, 9/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 6324  | 6210  | 6082  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210742365.SRDLC, 22.99%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 5130  | 5022  | 4797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210742977.SRDLC, 21.49%, 9/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 5788  | 5683  | 5556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210745731.SRDLC, 30.99%, 9/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 16505  | 16154  | 15583  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210748068.SRDLC, 23.99%, 9/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 21751  | 21265  | 20545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210749225.SRDLC, 14.99%, 9/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 9032  | 8847  | 8542  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210750773.SRDLC, 26.99%, 3/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 4811  | 4691  | 430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210751795.SRDLC, 7.24%, 9/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 23050  | 22580  | 22932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210751974.SRDLC, 15.00%, 5/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 17428  | 17005  | 16075  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210753773.SRDLC, 20.99%, 9/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 13013  | 12713  | 12291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210756555.SRDLC, 20.99%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 5165  | 5057  | 4857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210760894.SRDLC, 24.49%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 10994  | 10756  | 10217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210766065.SRDLC, 24.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 10564  | 10335  | 9801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210766435.SRDLC, 16.49%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 6955  | 6800  | 6597  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210766442.SRDLC, 22.49%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 19983  | 19553  | 18688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210768663.SRDLC, 9.74%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 33254  | 32572  | 32903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210770407.SRDLC, 13.99%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 17089  | 16696  | 16265  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210770762.SRDLC, 21.49%, 9/10/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 1875  | 1841  | 1803  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210772424.SRDLC, 19.49%, 9/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 4033  | 3960  | 3880  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210775209.SRDLC, 28.49%, 9/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 4629  | 4531  | 4287  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210777253.SRDLC, 31.89%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 13801  | 13488  | 13036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210777533.SRDLC, 32.39%, 9/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 14221  | 13887  | 13335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210779658.SRDLC, 24.99%, 9/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 903  | 887  | 870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210779814.SRDLC, 22.99%, 9/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 855  | 837  | 796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210780869.SRDLC, 28.99%, 1/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 2555  | 2501  | 2430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210784237.SRDLC, 29.99%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 9077  | 8870  | 8577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210785323.SRDLC, 30.49%, 9/11/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 7990  | 7804  | 7480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210786782.SRDLC, 24.49%, 9/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 3803  | 3712  | 3655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210787587.SRDLC, 11.99%, 9/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 2930  | 2878  | 2841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210789570.SRDLC, 31.89%, 9/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 5523  | 5398  | 5213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210793052.SRDLC, 21.49%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 3246  | 3173  | 3117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210801791.SRDLC, 25.49%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 6801  | 6657  | 6341  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210803474.SRDLC, 29.99%, 9/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 3668  | 3584  | 3477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210804171.SRDLC, 16.24%, 9/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 19789  | 19338  | 19029  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210805587.SRDLC, 29.49%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 11504  | 11253  | 10611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210808931.SRDLC, 10.49%, 9/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 17577  | 17194  | 17491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210821865.SRDLC, 26.49%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 12328  | 12036  | 11601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210822252.SRDLC, 27.49%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 6482  | 6332  | 6128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210827194.SRDLC, 13.49%, 9/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 2915  | 2852  | 2842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210829078.SRDLC, 31.89%, 9/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1813  | 1772  | 1704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210832254.SRDLC, 12.99%, 9/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 4934  | 4822  | 4844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210837454.SRDLC, 22.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 8791  | 8601  | 8282  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210837736.SRDLC, 20.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 21278  | 20831  | 19987  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210840212.SRDLC, 18.99%, 9/17/2026 (a)(r)  | "> Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 2985  | 2930  | 2876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210841861.SRDLC, 13.99%, 9/16/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 25250  | 24663  | 24949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210852633.SRDLC, 13.74%, 9/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 35567  | 34787  | 35187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210852675.SRDLC, 17.49%, 9/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 5785  | 5656  | 5483  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **86** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 210854805.SRDLC, 30.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | $13051  | $12771  | $12138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210856415.SRDLC, 26.99%, 9/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 22914  | 22391  | 21720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210864463.SRDLC, 30.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 5220  | 5108  | 4855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210870244.SRDLC, 29.99%, 9/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 23612  | 23057  | 22312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210870663.SRDLC, 19.99%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 5477  | 5361  | 5190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210871549.SRDLC, 32.39%, 9/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 4740  | 4629  | 4463  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210873920.SRDLC, 22.99%, 9/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 1507  | 1480  | 1455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210876224.SRDLC, 28.99%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 4496  | 4412  | 4316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210877886.SRDLC, 19.99%, 9/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 2123  | 2078  | 1994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210877890.SRDLC, 17.49%, 9/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 4468  | 4370  | 4228  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210879920.SRDLC, 21.49%, 9/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 2253  | 2211  | 2166  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210880758.SRDLC, 21.99%, 9/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 4496  | 4413  | 4330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210890387.SRDLC, 20.99%, 9/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 3358  | 3296  | 3237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210894902.SRDLC, 31.89%, 9/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 5887  | 5752  | 5625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210896161.SRDLC, 28.49%, 9/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 2079  | 2034  | 1999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210898416.SRDLC, 19.49%, 9/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 2241  | 2200  | 2163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210901368.SRDLC, 11.49%, 9/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 22203  | 21718  | 21957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210902138.SRDLC, 24.49%, 9/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 10296  | 10077  | 9610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210904655.SRDLC, 30.99%, 9/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 13561  | 13253  | 12728  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210905432.SRDLC, 16.99%, 9/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 8908  | 8746  | 8631  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210906151.SRDLC, 18.99%, 10/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 1743  | 1710  | 1674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210914041.SRDLC, 23.99%, 9/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 6544  | 6392  | 6178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210914934.SRDLC, 11.24%, 9/19/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 11767  | 11473  | 2407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210915345.SRDLC, 21.49%, 9/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 3754  | 3685  | 3617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210917097.SRDLC, 8.24%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8500  | 8321  | 8416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210917397.SRDLC, 22.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2628  | 2571  | 2468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210918039.SRDLC, 19.49%, 9/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 4488  | 4406  | 4319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210919268.SRDLC, 17.49%, 9/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 13256  | 12961  | 12553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210920458.SRDLC, 14.24%, 9/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 8373  | 8200  | 8115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210924341.SRDLC, 28.99%, 9/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 3824  | 3752  | 3695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210928475.SRDLC, 12.99%, 9/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 2571  | 2525  | 2492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210930182.SRDLC, 25.49%, 9/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 21497  | 21040  | 20062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210930366.SRDLC, 20.49%, 10/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 1652  | 1621  | 1582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210930811.SRDLC, 10.49%, 10/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 2563  | 2509  | 2534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210930885.SRDLC, 7.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 16718  | 16371  | 16544  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210934519.SRDLC, 19.99%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 17738  | 17324  | 16721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210935275.SRDLC, 27.49%, 9/18/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 5442  | 5336  | 5230  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210935362.SRDLC, 19.99%, 9/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 5944  | 5819  | 5588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210935505.SRDLC, 32.39%, 9/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 14272  | 13945  | 13477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210935951.SRDLC, 12.99%, 9/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 8843  | 8649  | 8747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210937146.SRDLC, 23.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 8819  | 8628  | 8241  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210944115.SRDLC, 29.99%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 20681  | 20208  | 19376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210944790.SRDLC, 28.49%, 9/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 6597  | 6443  | 6232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210944914.SRDLC, 12.49%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 6169  | 6042  | 6043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210946673.SRDLC, 13.99%, 9/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 3682  | 3615  | 3572  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210948070.SRDLC, 26.49%, 9/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 10798  | 10546  | 10194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210951135.SRDLC, 22.49%, 9/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 5978  | 5852  | 5619  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210951453.SRDLC, 30.99%, 9/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 1966  | 1917  | 176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210955738.SRDLC, 11.24%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 31432  | 30735  | 31047  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210956926.SRDLC, 25.99%, 9/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 9099  | 8894  | 8642  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210961114.SRDLC, 19.49%, 9/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 27099  | 26497  | 26467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210961253.SRDLC, 26.49%, 10/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5195  | 5094  | 4976  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **87** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 210961767.SRDLC, 30.99%, 9/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | $13934  | $13586  | $2324  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210963744.SRDLC, 29.99%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 9530  | 9304  | 8919  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210968412.SRDLC, 22.99%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 2565  | 2511  | 2398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210971273.SRDLC, 26.99%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 12089  | 11811  | 11472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210972851.SRDLC, 26.49%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 1724  | 1687  | 1611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210973397.SRDLC, 25.99%, 10/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 4410  | 4315  | 4086  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210977375.SRDLC, 29.49%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 23812  | 23244  | 22297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210978283.SRDLC, 30.99%, 9/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 1682  | 1645  | 1576  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210984220.SRDLC, 24.99%, 9/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 6012  | 5884  | 5624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 210987318.SRDLC, 28.99%, 9/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 6328  | 6170  | 1076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211003550.SRDLC, 23.99%, 9/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 12855  | 12582  | 12023  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211005401.SRDLC, 15.49%, 10/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 3624  | 3543  | 3569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211010352.SRDLC, 27.49%, 9/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 2738  | 2675  | 2611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211015059.SRDLC, 26.49%, 9/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 1800  | 1760  | 1709  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211015663.SRDLC, 30.99%, 9/20/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 10069  | 9838  | 9567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211017064.SRDLC, 21.49%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 2556  | 2502  | 2407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211023462.SRDLC, 23.49%, 9/20/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 4572  | 4487  | 4386  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211023811.SRDLC, 15.99%, 9/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 2221  | 2180  | 2154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211025387.SRDLC, 24.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 5283  | 5167  | 4913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211028650.SRDLC, 9.49%, 9/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 34189  | 33443  | 34040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211028806.SRDLC, 32.39%, 9/26/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 14451  | 14110  | 13707  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211030084.SRDLC, 17.49%, 9/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 2601  | 2554  | 2522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211031283.SRDLC, 23.49%, 9/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 4144  | 4055  | 3879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211031829.SRDLC, 30.99%, 9/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 12906  | 12629  | 12017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211032214.SRDLC, 30.99%, 9/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 14190  | 13856  | 13415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211032556.SRDLC, 24.99%, 10/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 10285  | 10050  | 9679  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211032801.SRDLC, 17.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 11907  | 11640  | 11313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211033906.SRDLC, 23.99%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 4713  | 4613  | 4412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211034436.SRDLC, 25.49%, 9/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 5688  | 5581  | 5500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211034816.SRDLC, 22.99%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 15793  | 15436  | 15019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211037288.SRDLC, 25.49%, 9/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 12922  | 12621  | 12235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211037958.SRDLC, 30.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 6676  | 6528  | 6196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211039695.SRDLC, 23.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 1744  | 1706  | 1629  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211041204.SRDLC, 30.99%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 1740  | 1702  | 1625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211042909.SRDLC, 18.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 6090  | 5960  | 5705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211043036.SRDLC, 18.99%, 10/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 4705  | 4615  | 4512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211043858.SRDLC, 26.49%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 4136  | 4048  | 3870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211046401.SRDLC, 16.49%, 9/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 23966  | 23417  | 23269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211049960.SRDLC, 27.49%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 5614  | 5493  | 5240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211052835.SRDLC, 23.49%, 9/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 12836  | 12562  | 12020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211053577.SRDLC, 24.49%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 15599  | 15233  | 14654  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211056527.SRDLC, 25.49%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 2409  | 2354  | 2291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211057701.SRDLC, 20.49%, 9/23/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 18478  | 18135  | 17828  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211060070.SRDLC, 14.99%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 5608  | 5488  | 5311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211063616.SRDLC, 27.49%, 9/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 2158  | 2112  | 2024  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211064509.SRDLC, 31.89%, 9/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 3934  | 3844  | 3755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211064875.SRDLC, 10.99%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 35874  | 35049  | 35453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211069185.SRDLC, 29.99%, 9/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 6512  | 6372  | 6084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211071520.SRDLC, 23.99%, 9/23/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 5606  | 5466  | 1337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211074353.SRDLC, 32.39%, 9/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 4756  | 4639  | 4516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211077469.SRDLC, 27.49%, 9/23/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 19188  | 18708  | 1715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211078007.SRDLC, 29.49%, 10/23/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 7170  | 7014  | 6687  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **88** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211079333.SRDLC, 20.49%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | $8527  | $8344  | $7984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211081584.SRDLC, 29.89%, 9/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 6500  | 6347  | 6196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211081981.SRDLC, 15.74%, 10/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9205  | 8975  | 1415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211085179.SRDLC, 20.99%, 9/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 8437  | 8238  | 7984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211086805.SRDLC, 26.49%, 9/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 20658  | 20172  | 19568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211088593.SRDLC, 31.89%, 9/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 11041  | 10787  | 10516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211092097.SRDLC, 24.99%, 9/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 8589  | 8405  | 8042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211094158.SRDLC, 22.99%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 9491  | 9310  | 9092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211094179.SRDLC, 32.39%, 9/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 16590  | 16197  | 15704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211094375.SRDLC, 15.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 4322  | 4229  | 4096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211098544.SRDLC, 25.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7389  | 7219  | 6988  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211102335.SRDLC, 24.49%, 9/30/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 7217  | 7062  | 6776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211104348.SRDLC, 9.74%, 9/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 12281  | 12012  | 12229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211104404.SRDLC, 17.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 5254  | 5143  | 4979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211106910.SRDLC, 7.00%, 10/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 5511  | 5397  | 5483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211109405.SRDLC, 12.99%, 10/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 3482  | 3417  | 3364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211112008.SRDLC, 24.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 880  | 861  | 821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211115354.SRDLC, 30.49%, 9/25/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 6818  | 6648  | 1153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211116416.SRDLC, 27.49%, 10/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 5508  | 5378  | 5147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211117798.SRDLC, 16.49%, 9/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 4012  | 3923  | 3810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211118029.SRDLC, 27.99%, 9/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 15136  | 14781  | 14416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211118696.SRDLC, 21.49%, 10/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 18362  | 17969  | 17164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211119143.SRDLC, 18.99%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 2823  | 2769  | 2706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211120285.SRDLC, 27.99%, 10/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 8853  | 8659  | 8186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211121214.SRDLC, 15.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 4755  | 4655  | 4494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211121307.SRDLC, 25.49%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 12959  | 12670  | 12012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211126420.SRDLC, 12.99%, 10/3/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 6185  | 6070  | 5979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211130675.SRDLC, 32.39%, 10/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 14341  | 14000  | 13393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211131672.SRDLC, 32.39%, 10/1/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 9551  | 9324  | 8890  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211133869.SRDLC, 13.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2016  | 1977  | 1950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211136122.SRDLC, 16.74%, 10/2/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 15397  | 15041  | 14785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211136594.SRDLC, 28.99%, 9/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 2800  | 2746  | 2712  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211137639.SRDLC, 20.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7101  | 6964  | 6833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211137813.SRDLC, 23.49%, 9/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 8992  | 8801  | 8401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211139852.SRDLC, 26.49%, 9/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 3188  | 3115  | 3036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211144385.SRDLC, 17.99%, 9/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 3721  | 3651  | 3602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211147222.SRDLC, 10.24%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 20492  | 20064  | 20266  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211147918.SRDLC, 27.49%, 9/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 7666  | 7491  | 7327  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211148091.SRDLC, 19.99%, 9/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 3057  | 2992  | 2885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211148239.SRDLC, 12.74%, 9/26/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 18653  | 18217  | 18456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211148763.SRDLC, 30.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 5342  | 5225  | 4914  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211151788.SRDLC, 10.99%, 9/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 28204  | 27503  | 27911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211153200.SRDLC, 26.49%, 9/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 14573  | 14241  | 13881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211153580.SRDLC, 24.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 17029  | 16628  | 16050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211153964.SRDLC, 26.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 3536  | 3457  | 3263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211156883.SRDLC, 15.99%, 10/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 18146  | 17756  | 17139  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211157174.SRDLC, 21.49%, 9/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 15338  | 15011  | 14467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211159415.SRDLC, 14.99%, 10/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 8622  | 8440  | 8158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211164458.SRDLC, 8.24%, 10/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 9350  | 9156  | 9246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211164878.SRDLC, 20.49%, 9/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 12781  | 12506  | 11972  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211165419.SRDLC, 10.99%, 10/2/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 5310  | 5212  | 5133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211166372.SRDLC, 21.49%, 10/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 6995  | 6844  | 6556  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **89** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211168038.SRDLC, 22.49%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | $21465  | $21003  | $20078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211169264.SRDLC, 29.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 11303  | 11045  | 10623  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211170147.SRDLC, 29.99%, 10/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 5718  | 5583  | 5326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211171397.SRDLC, 20.99%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 13103  | 12822  | 12264  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211172694.SRDLC, 23.99%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7557  | 7380  | 7103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211174098.SRDLC, 32.39%, 10/4/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 14792  | 14422  | 2637  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211174993.SRDLC, 30.99%, 9/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 870  | 851  | 815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211177544.SRDLC, 23.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 14059  | 13752  | 13108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211178003.SRDLC, 27.99%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 4223  | 4127  | 3999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211179216.SRDLC, 23.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8787  | 8595  | 8193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211185936.SRDLC, 22.49%, 9/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 3795  | 3709  | 3649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211186418.SRDLC, 18.99%, 9/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/1/2024 | 1865  | 1831  | 1802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211187540.SRDLC, 19.49%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 12673  | 12433  | 12144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211187954.SRDLC, 24.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8795  | 8605  | 8170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211191410.SRDLC, 19.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 9512  | 9332  | 9109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211193772.SRDLC, 20.49%, 9/30/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 18719  | 18367  | 18020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211194297.SRDLC, 14.24%, 10/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 18431  | 17995  | 18251  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211194401.SRDLC, 15.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 21615  | 21156  | 20439  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211196227.SRDLC, 20.49%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 11002  | 10753  | 10504  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211198146.SRDLC, 23.99%, 10/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 5524  | 5386  | 985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211198383.SRDLC, 12.99%, 9/30/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 4040  | 3965  | 3913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211200375.SRDLC, 21.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 11906  | 11650  | 11213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211200729.SRDLC, 22.49%, 10/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 13220  | 12920  | 12608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211201442.SRDLC, 31.89%, 9/30/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 1678  | 1639  | 1601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211201960.SRDLC, 28.99%, 9/30/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2024 | 2296  | 2247  | 2206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211205774.SRDLC, 23.49%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 10007  | 9791  | 9322  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211205884.SRDLC, 21.99%, 10/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 789  | 774  | 756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211207145.SRDLC, 26.49%, 10/1/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 16024  | 15641  | 14992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211210839.SRDLC, 17.49%, 10/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/4/2024 | 3183  | 3112  | 3005  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211217872.SRDLC, 9.49%, 10/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 12810  | 12544  | 12630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211218868.SRDLC, 24.49%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 18953  | 18508  | 17812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211219208.SRDLC, 9.99%, 10/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 18809  | 18389  | 18724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211220370.SRDLC, 22.49%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 21905  | 21430  | 20608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211222017.SRDLC, 13.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 21523  | 21069  | 20345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211226756.SRDLC, 27.99%, 10/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 22808  | 22269  | 21309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211228657.SRDLC, 24.99%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 5073  | 4956  | 4781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211238088.SRDLC, 24.49%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 18395  | 17963  | 17270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211240181.SRDLC, 28.99%, 10/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 1201  | 1178  | 1148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211240387.SRDLC, 29.99%, 10/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 9297  | 9083  | 8717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211241719.SRDLC, 22.49%, 10/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 1840  | 1798  | 1755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211244921.SRDLC, 11.24%, 10/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 35923  | 35122  | 35522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211245612.SRDLC, 25.99%, 10/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 14778  | 14441  | 13879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211246418.SRDLC, 23.49%, 10/3/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 8776  | 8586  | 8144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211247809.SRDLC, 30.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 1780  | 1741  | 1637  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211248796.SRDLC, 18.99%, 10/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 1568  | 1539  | 1502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211249264.SRDLC, 28.99%, 10/1/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 2403  | 2356  | 2291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211249345.SRDLC, 19.99%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7399  | 7240  | 6958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211249682.SRDLC, 23.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 1757  | 1719  | 1628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211250724.SRDLC, 31.99%, 10/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 4778  | 4664  | 4448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211252774.SRDLC, 16.99%, 10/3/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 9331  | 9153  | 9014  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211254411.SRDLC, 28.49%, 10/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 16263  | 15879  | 15154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211254638.SRDLC, 15.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 8646  | 8461  | 8197  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **90** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211254728.SRDLC, 22.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | $2631  | $2574  | $2438  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211254967.SRDLC, 19.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 2092  | 2047  | 1958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211255379.SRDLC, 31.89%, 10/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 4662  | 4554  | 4379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211256027.SRDLC, 30.49%, 10/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 8392  | 8193  | 7836  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211256696.SRDLC, 30.99%, 10/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 5382  | 5264  | 4975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211257423.SRDLC, 30.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 4006  | 3919  | 3685  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211257664.SRDLC, 32.39%, 10/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 4780  | 4666  | 4464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211259011.SRDLC, 18.99%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 3920  | 3846  | 3756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211259280.SRDLC, 26.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2312  | 2258  | 2187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211259987.SRDLC, 28.49%, 9/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 18699  | 18236  | 17501  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211260000.SRDLC, 14.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 4970  | 4852  | 4708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211261524.SRDLC, 20.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 5282  | 5169  | 4961  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211262531.SRDLC, 28.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 17314  | 16916  | 16326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211263871.SRDLC, 10.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 7202  | 7043  | 7166  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211264473.SRDLC, 13.74%, 10/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 21341  | 20850  | 20900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211265210.SRDLC, 31.89%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 13986  | 13662  | 13159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211265659.SRDLC, 25.49%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 7951  | 7799  | 7612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211265683.SRDLC, 21.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 4372  | 4278  | 4094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211266602.SRDLC, 30.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 1335  | 1306  | 1230  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211266776.SRDLC, 30.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 3560  | 3482  | 3281  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211266825.SRDLC, 20.99%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 5241  | 5129  | 4904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211267565.SRDLC, 25.99%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 4438  | 4342  | 4130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211268170.SRDLC, 29.49%, 10/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 1488  | 1453  | 1395  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211268223.SRDLC, 21.49%, 10/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/3/2024 | 3901  | 3817  | 3665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211269307.SRDLC, 21.49%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 4809  | 4706  | 4499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211269693.SRDLC, 27.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 13408  | 13117  | 12400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211270232.SRDLC, 24.99%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 1987  | 1949  | 1897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211272993.SRDLC, 24.99%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 296  | 290  | 288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211273087.SRDLC, 14.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4745  | 4644  | 4496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211273090.SRDLC, 30.99%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 10404  | 10176  | 9593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211273104.SRDLC, 15.99%, 10/7/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8961  | 8768  | 8472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211273113.SRDLC, 9.74%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 23880  | 23381  | 23611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211274664.SRDLC, 28.99%, 10/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 6729  | 6598  | 6406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211275320.SRDLC, 12.99%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 8046  | 7896  | 7778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211277589.SRDLC, 20.49%, 10/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 787  | 772  | 754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211278427.SRDLC, 23.49%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 7022  | 6870  | 6540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211278522.SRDLC, 20.49%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 3491  | 3416  | 3267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211279182.SRDLC, 10.49%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 8543  | 8362  | 8462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211279357.SRDLC, 30.99%, 10/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 10361  | 10116  | 9678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211280825.SRDLC, 17.24%, 9/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 18365  | 17939  | 17767  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211281862.SRDLC, 26.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8828  | 8636  | 8198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211282813.SRDLC, 19.49%, 10/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7821  | 7673  | 7498  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211282870.SRDLC, 28.49%, 10/9/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 5954  | 5805  | 532  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211283933.SRDLC, 21.49%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7972  | 7801  | 7496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211284083.SRDLC, 24.99%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 5688  | 5554  | 5344  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211284934.SRDLC, 15.00%, 3/18/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 14752  | 14388  | 12302  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211285325.SRDLC, 21.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8744  | 8556  | 8188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211285649.SRDLC, 27.49%, 10/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 9232  | 9020  | 8739  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211288523.SRDLC, 25.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 3548  | 3471  | 3314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211289069.SRDLC, 29.49%, 10/7/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 2334  | 2279  | 2196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211290470.SRDLC, 20.49%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 4754  | 4663  | 4556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211290906.SRDLC, 23.49%, 10/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 792  | 777  | 759  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **91** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211290987.SRDLC, 13.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | $6714  | $6573  | $6351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211292844.SRDLC, 24.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3521  | 3445  | 3283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211293224.SRDLC, 19.99%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 10324  | 10083  | 9725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211295480.SRDLC, 26.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 13242  | 12954  | 12306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211304177.SRDLC, 32.39%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 6487  | 6339  | 6089  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211305357.SRDLC, 25.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 7490  | 7328  | 6957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211306562.SRDLC, 10.49%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 9218  | 9007  | 9108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211308691.SRDLC, 32.39%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 10517  | 10266  | 9830  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211309613.SRDLC, 13.99%, 10/4/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 9448  | 9226  | 9335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211311537.SRDLC, 24.49%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 20715  | 20197  | 3307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211312935.SRDLC, 25.49%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 22285  | 21804  | 20777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211313208.SRDLC, 28.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 13291  | 13001  | 12274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211313978.SRDLC, 14.99%, 10/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2024 | 16742  | 16356  | 16250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211315847.SRDLC, 26.49%, 10/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 14519  | 14156  | 1298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211316728.SRDLC, 15.99%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8594  | 8411  | 8122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211317202.SRDLC, 23.49%, 10/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 996  | 977  | 959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211317961.SRDLC, 19.49%, 10/7/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 17185  | 16860  | 16475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211318207.SRDLC, 22.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 17522  | 17142  | 16455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211318288.SRDLC, 27.49%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 14245  | 13908  | 13331  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211318352.SRDLC, 25.49%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 13843  | 13525  | 13083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211318547.SRDLC, 23.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 10534  | 10306  | 9787  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211319132.SRDLC, 27.49%, 10/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 2949  | 2892  | 2817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211319517.SRDLC, 23.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 4389  | 4294  | 4078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211321684.SRDLC, 28.49%, 10/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 16989  | 16618  | 15677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211322999.SRDLC, 24.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8795  | 8605  | 8170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211324194.SRDLC, 24.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7569  | 7391  | 7134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211324245.SRDLC, 21.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8743  | 8555  | 8188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211324445.SRDLC, 18.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 4342  | 4249  | 4070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211324695.SRDLC, 15.00%, 5/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 23911  | 23317  | 18127  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211327546.SRDLC, 25.49%, 10/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 14236  | 13910  | 13382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211330207.SRDLC, 21.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8744  | 8556  | 8188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211332366.SRDLC, 28.49%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 19300  | 18844  | 18075  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211336616.SRDLC, 28.49%, 10/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 5540  | 5418  | 5122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211337252.SRDLC, 19.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 20922  | 20474  | 19598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211339278.SRDLC, 30.99%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 1780  | 1741  | 1643  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211339651.SRDLC, 23.99%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 11336  | 11070  | 10650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211339687.SRDLC, 10.49%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 12815  | 12547  | 12547  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211340390.SRDLC, 29.99%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 7624  | 7443  | 7140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211342346.SRDLC, 10.24%, 10/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 13437  | 13136  | 13320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211344462.SRDLC, 21.49%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 3799  | 3717  | 3562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211346918.SRDLC, 9.49%, 10/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 17894  | 17497  | 17804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211346931.SRDLC, 9.74%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 10234  | 10018  | 10136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211347846.SRDLC, 19.49%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 3454  | 3387  | 3320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211350375.SRDLC, 24.99%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 2641  | 2583  | 2460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211352512.SRDLC, 14.99%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 21569  | 21112  | 20404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211353036.SRDLC, 31.89%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3963  | 3871  | 3748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211359222.SRDLC, 32.39%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 6641  | 6482  | 6208  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211362800.SRDLC, 25.74%, 10/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 2216  | 2165  | 2088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211364051.SRDLC, 15.74%, 10/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 6913  | 6767  | 6727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211364212.SRDLC, 9.49%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 10655  | 10432  | 10482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211364789.SRDLC, 32.39%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 5736  | 5600  | 5369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211369256.SRDLC, 27.49%, 10/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 13889  | 13570  | 13087  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **92** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211371056.SRDLC, 29.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | $11436  | $11164  | $10754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211372872.SRDLC, 12.99%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 14824  | 14484  | 14471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211373193.SRDLC, 15.99%, 10/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/8/2024 | 23296  | 22758  | 22401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211377197.SRDLC, 22.49%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 5296  | 5182  | 5000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211377846.SRDLC, 10.24%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 8961  | 8762  | 8852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211379086.SRDLC, 13.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 12957  | 12683  | 12300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211380995.SRDLC, 18.49%, 10/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 7266  | 7101  | 6897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211383904.SRDLC, 25.99%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 11371  | 11103  | 10683  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211391147.SRDLC, 10.24%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 13661  | 13374  | 13392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211392274.SRDLC, 32.39%, 10/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 6205  | 6059  | 5858  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211393108.SRDLC, 30.49%, 10/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 5722  | 5586  | 5354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211393366.SRDLC, 28.49%, 10/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 1391  | 1359  | 1311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211397382.SRDLC, 19.24%, 10/7/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 9415  | 9236  | 9232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211398192.SRDLC, 13.74%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 17209  | 16846  | 16848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211400872.SRDLC, 28.49%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 3544  | 3467  | 3275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211401613.SRDLC, 19.49%, 10/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 3061  | 3003  | 2936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211403342.SRDLC, 23.99%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 6151  | 6017  | 5717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211405303.SRDLC, 15.99%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 9007  | 8813  | 8571  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211407311.SRDLC, 7.24%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 21200  | 20760  | 21063  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211407677.SRDLC, 27.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 9557  | 9331  | 8958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211408646.SRDLC, 19.24%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 4378  | 4284  | 4224  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211413323.SRDLC, 31.89%, 10/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 18196  | 17777  | 17134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211413427.SRDLC, 21.49%, 10/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 2798  | 2738  | 2622  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211414070.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 14341  | 13999  | 13478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211416703.SRDLC, 24.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 2201  | 2153  | 2055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211417119.SRDLC, 15.74%, 10/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 2160  | 2114  | 2103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211417265.SRDLC, 21.49%, 10/9/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 13186  | 12857  | 3050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211418241.SRDLC, 23.99%, 10/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 1923  | 1875  | 300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211420037.SRDLC, 9.49%, 10/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 32196  | 31461  | 31807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211420784.SRDLC, 25.49%, 10/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 9719  | 9508  | 9058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211421917.SRDLC, 24.74%, 10/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/9/2024 | 11349  | 11082  | 10727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211424538.SRDLC, 22.99%, 10/10/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 9491  | 9308  | 9110  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211425106.SRDLC, 24.99%, 10/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 9651  | 9423  | 9089  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211426571.SRDLC, 23.99%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 10126  | 9894  | 9575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211426973.SRDLC, 13.99%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 9321  | 9123  | 8834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211427630.SRDLC, 26.49%, 10/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 19963  | 19487  | 18676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211429680.SRDLC, 18.99%, 10/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 6273  | 6154  | 6017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211430811.SRDLC, 13.99%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 6887  | 6742  | 6744  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211430876.SRDLC, 26.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4414  | 4318  | 4114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211432615.SRDLC, 7.99%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 21237  | 20794  | 21015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211432751.SRDLC, 27.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4445  | 4342  | 4206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211433000.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9943  | 9706  | 9345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211437381.SRDLC, 30.49%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 10966  | 10706  | 10269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211438328.SRDLC, 30.99%, 10/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 13453  | 13127  | 12680  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211439322.SRDLC, 23.49%, 10/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 3619  | 3536  | 3414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211439597.SRDLC, 17.49%, 10/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 3125  | 3066  | 3021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211440483.SRDLC, 32.39%, 10/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 5712  | 5576  | 5331  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211440795.SRDLC, 32.39%, 10/10/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 8608  | 8393  | 8080  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211442183.SRDLC, 22.49%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 10513  | 10286  | 9862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211442323.SRDLC, 12.99%, 10/9/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 9980  | 9793  | 9651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211442675.SRDLC, 28.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 1938  | 1899  | 1852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211443315.SRDLC, 23.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3072  | 3006  | 2865  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **93** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211443538.SRDLC, 28.49%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | $14244  | $13888  | $2338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211443801.SRDLC, 20.49%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 13128  | 12844  | 12384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211444662.SRDLC, 28.99%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 9517  | 9291  | 8937  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211444720.SRDLC, 24.99%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 17032  | 16618  | 16042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211445593.SRDLC, 23.49%, 10/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 13795  | 13480  | 13036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211446071.SRDLC, 24.99%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 5677  | 5543  | 5344  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211446570.SRDLC, 15.99%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 19021  | 18615  | 18008  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211447593.SRDLC, 22.49%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 17522  | 17143  | 16437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211448302.SRDLC, 24.24%, 10/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/10/2024 | 25516  | 24916  | 24161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211449537.SRDLC, 22.49%, 10/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 15955  | 15611  | 15026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211449835.SRDLC, 12.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 15463  | 15134  | 14655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211450360.SRDLC, 23.99%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 4393  | 4298  | 4091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211450682.SRDLC, 29.49%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 8933  | 8736  | 8305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211451177.SRDLC, 28.99%, 10/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 4883  | 4787  | 4685  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211451716.SRDLC, 23.99%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7939  | 7766  | 7434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211452595.SRDLC, 23.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 20256  | 19814  | 18946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211452867.SRDLC, 26.49%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 2773  | 2709  | 2620  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211453555.SRDLC, 14.99%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 9490  | 9288  | 8986  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211454037.SRDLC, 12.50%, 10/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 22214  | 21704  | 21754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211454763.SRDLC, 25.99%, 10/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 22569  | 22007  | 14781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211455458.SRDLC, 13.99%, 10/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 12913  | 12639  | 12229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211455718.SRDLC, 31.89%, 10/10/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 9701  | 9476  | 9154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211456925.SRDLC, 24.99%, 10/2/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 3498  | 3413  | 3245  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211457257.SRDLC, 28.49%, 10/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 6726  | 6571  | 6335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211458360.SRDLC, 21.74%, 10/9/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/11/2024 | 9520  | 9282  | 1437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211460569.SRDLC, 11.49%, 11/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2024 | 44991  | 43937  | 44537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211461344.SRDLC, 32.39%, 10/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 7235  | 7062  | 6784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211461554.SRDLC, 23.49%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 13243  | 12941  | 12520  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211462436.SRDLC, 21.99%, 10/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 1963  | 1925  | 1883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211463323.SRDLC, 25.99%, 10/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 10991  | 10739  | 10387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211463330.SRDLC, 25.99%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 9097  | 8881  | 8587  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211463432.SRDLC, 15.00%, 4/11/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 19853  | 19382  | 18298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211466024.SRDLC, 27.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4422  | 4325  | 4105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211466328.SRDLC, 21.49%, 10/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 11826  | 11598  | 11350  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211467698.SRDLC, 32.39%, 10/11/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 10454  | 10206  | 9813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211468089.SRDLC, 17.49%, 10/11/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 10262  | 10007  | 7313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211468131.SRDLC, 29.99%, 10/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 10185  | 9949  | 9620  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211468242.SRDLC, 21.49%, 10/11/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 17891  | 17546  | 17170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211470422.SRDLC, 20.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 18802  | 18362  | 17757  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211471928.SRDLC, 10.00%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 6770  | 6620  | 6198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211472079.SRDLC, 12.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 18530  | 18103  | 18116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211472099.SRDLC, 18.99%, 10/13/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 5653  | 5544  | 5424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211474391.SRDLC, 29.24%, 10/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 8600  | 8396  | 8193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211474987.SRDLC, 15.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 15593  | 15219  | 14816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211475080.SRDLC, 9.74%, 10/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 3410  | 3338  | 3375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211476560.SRDLC, 11.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3859  | 3787  | 3735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211479737.SRDLC, 18.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3921  | 3845  | 3766  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211480286.SRDLC, 30.49%, 10/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 8122  | 7929  | 7647  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211482353.SRDLC, 29.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5113  | 4995  | 4837  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211485232.SRDLC, 32.39%, 10/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8729  | 8540  | 8088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211485599.SRDLC, 30.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 23365  | 22809  | 21969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211486185.SRDLC, 15.00%, 2/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4946  | 4825  | 4279  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **94** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211486325.SRDLC, 28.99%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | $8025  | $7867  | $7666  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211486639.SRDLC, 22.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4819  | 4714  | 4525  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211487350.SRDLC, 24.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2383  | 2336  | 2289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211487410.SRDLC, 15.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4323  | 4230  | 4096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211487568.SRDLC, 24.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 12677  | 12400  | 11818  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211487683.SRDLC, 23.99%, 10/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 23252  | 22723  | 22035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211488248.SRDLC, 25.49%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 786  | 770  | 754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211488922.SRDLC, 30.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1335  | 1306  | 1238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211489395.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8126  | 7933  | 7638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211489649.SRDLC, 24.49%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 8795  | 8603  | 8203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211489874.SRDLC, 27.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9877  | 9643  | 9293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211489937.SRDLC, 28.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 13291  | 12999  | 12335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211490039.SRDLC, 21.49%, 10/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 5851  | 5724  | 5509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211490380.SRDLC, 10.74%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 34192  | 33467  | 33553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211491439.SRDLC, 20.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1181  | 1158  | 1134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211492022.SRDLC, 30.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2670  | 2611  | 2477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211492318.SRDLC, 30.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4771  | 4658  | 4486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211492976.SRDLC, 24.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5282  | 5167  | 4924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211493368.SRDLC, 30.49%, 10/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 6766  | 6607  | 6388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211493683.SRDLC, 17.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7276  | 7112  | 6894  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211493894.SRDLC, 22.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9637  | 9428  | 9050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211495256.SRDLC, 21.49%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 12308  | 12042  | 11625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211495397.SRDLC, 28.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8089  | 7897  | 7609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211495534.SRDLC, 20.99%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 4193  | 4102  | 3945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211495861.SRDLC, 19.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3532  | 3464  | 3393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211495900.SRDLC, 25.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5292  | 5176  | 4933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211496185.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8031  | 7839  | 7548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211496319.SRDLC, 14.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7333  | 7177  | 6949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211497978.SRDLC, 21.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4644  | 4556  | 4459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211498108.SRDLC, 26.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3181  | 3111  | 2953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211499191.SRDLC, 21.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 15768  | 15462  | 15140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211499476.SRDLC, 25.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 22168  | 21658  | 20965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211499792.SRDLC, 10.99%, 10/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 11669  | 11409  | 11534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211499974.SRDLC, 28.99%, 10/1/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2975  | 2914  | 2884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211500343.SRDLC, 30.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5786  | 5658  | 5366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211500503.SRDLC, 20.49%, 10/10/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/15/2024 | 2512  | 2457  | 2419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211500663.SRDLC, 20.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2269  | 2220  | 2131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211501793.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 10517  | 10266  | 9884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211501855.SRDLC, 18.49%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 11298  | 11055  | 10704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211502706.SRDLC, 31.89%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1578  | 1541  | 1492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211504339.SRDLC, 23.99%, 10/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 872  | 853  | 809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211507102.SRDLC, 22.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3949  | 3873  | 3792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211507655.SRDLC, 29.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5326  | 5209  | 4944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211509078.SRDLC, 11.24%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4375  | 4277  | 4325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211509193.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 10995  | 10732  | 10333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211510701.SRDLC, 12.49%, 11/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 25076  | 24484  | 24899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211511823.SRDLC, 18.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2610  | 2554  | 2452  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211512682.SRDLC, 30.99%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3136  | 3067  | 2913  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513223.SRDLC, 25.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 19397  | 18951  | 18344  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513375.SRDLC, 27.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3336  | 3259  | 3157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513467.SRDLC, 17.99%, 1/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5348  | 5214  | 5168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513717.SRDLC, 7.99%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 26334  | 25782  | 26070  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **95** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513749.SRDLC, 15.00%, 2/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | $4714  | $4603  | $4069  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211513755.SRDLC, 21.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 6995  | 6844  | 6570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211514751.SRDLC, 20.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1181  | 1158  | 1134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211515343.SRDLC, 25.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 6225  | 6104  | 5977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211516025.SRDLC, 28.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4004  | 3926  | 3841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211517883.SRDLC, 30.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4450  | 4352  | 4128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211517925.SRDLC, 27.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2398  | 2351  | 2300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211518352.SRDLC, 26.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9483  | 9259  | 8934  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211518650.SRDLC, 14.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 6039  | 5910  | 5723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211519743.SRDLC, 27.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 13267  | 12976  | 12315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211520253.SRDLC, 31.89%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2746  | 2682  | 2594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211522163.SRDLC, 20.49%, 10/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4967  | 4869  | 4764  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211523730.SRDLC, 23.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8710  | 8541  | 8366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211524009.SRDLC, 23.49%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 8821  | 8629  | 8253  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211525137.SRDLC, 31.89%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4662  | 4554  | 4409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211527092.SRDLC, 19.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3919  | 3834  | 3682  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211527195.SRDLC, 23.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8716  | 8506  | 8123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211527324.SRDLC, 26.49%, 10/22/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 19607  | 19117  | 3163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211528697.SRDLC, 15.24%, 10/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2024 | 13812  | 13517  | 13465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211529795.SRDLC, 18.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1568  | 1538  | 1506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211530213.SRDLC, 24.74%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 26482  | 25857  | 25147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211530774.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 13863  | 13532  | 13029  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211531055.SRDLC, 11.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 6764  | 6620  | 6638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211531284.SRDLC, 19.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4125  | 4045  | 3970  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211531498.SRDLC, 29.99%, 10/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 24033  | 23462  | 22610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211532703.SRDLC, 21.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2186  | 2139  | 2053  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211532862.SRDLC, 26.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5744  | 5618  | 5332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211534325.SRDLC, 12.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8590  | 8408  | 8423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211534714.SRDLC, 23.49%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2207  | 2157  | 2088  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211536578.SRDLC, 27.49%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5190  | 5088  | 4979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211536599.SRDLC, 32.39%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 22945  | 22398  | 21565  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211537156.SRDLC, 21.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 14427  | 14115  | 13550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211537340.SRDLC, 25.99%, 10/16/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 14305  | 13948  | 13409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211537878.SRDLC, 9.74%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 1716  | 1680  | 1699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211538746.SRDLC, 27.49%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 20988  | 20490  | 19796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211540242.SRDLC, 27.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 2653  | 2595  | 2463  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211542455.SRDLC, 22.99%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4598  | 4483  | 1106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211542707.SRDLC, 10.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5385  | 5266  | 5325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211546107.SRDLC, 10.74%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 16821  | 16455  | 16539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211546763.SRDLC, 25.99%, 10/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 14161  | 13807  | 2342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211549129.SRDLC, 24.49%, 10/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8749  | 8530  | 617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211555492.SRDLC, 23.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 20251  | 19787  | 19159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211555652.SRDLC, 12.99%, 10/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4526  | 4440  | 4379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211558542.SRDLC, 21.99%, 10/15/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 5504  | 5366  | 325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211561011.SRDLC, 19.49%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 16889  | 16495  | 16315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211561187.SRDLC, 11.24%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 18826  | 18428  | 18462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211562123.SRDLC, 23.99%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 19238  | 18797  | 18233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211562556.SRDLC, 13.74%, 10/3/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 8472  | 8311  | 8263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211564078.SRDLC, 9.99%, 10/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 22839  | 22332  | 22727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211565457.SRDLC, 23.99%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 1585  | 1554  | 1524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211567458.SRDLC, 11.74%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 32347  | 31602  | 31653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211567724.SRDLC, 10.49%, 10/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 12836  | 12565  | 12630  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **96** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211568162.SRDLC, 30.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | $5341  | $5222  | $4957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211569258.SRDLC, 13.99%, 10/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 4276  | 4185  | 4189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211576072.SRDLC, 14.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 5608  | 5488  | 5315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211577712.SRDLC, 20.99%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 15042  | 14689  | 14211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211578101.SRDLC, 14.24%, 10/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 3116  | 3057  | 3074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211579918.SRDLC, 9.74%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 27292  | 26717  | 27019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211581281.SRDLC, 7.57%, 10/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 6682  | 6533  | 6655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211581875.SRDLC, 23.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 9497  | 9312  | 9125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211582447.SRDLC, 28.49%, 10/16/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 17862  | 17449  | 16800  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211582963.SRDLC, 20.49%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 9393  | 9173  | 9010  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211583304.SRDLC, 22.99%, 10/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 19806  | 19340  | 18816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211583363.SRDLC, 28.49%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 7532  | 7366  | 6994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211583920.SRDLC, 23.49%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 8711  | 8541  | 8346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211592263.SRDLC, 28.99%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 5606  | 5496  | 5379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211593483.SRDLC, 23.49%, 10/16/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 3959  | 3882  | 3804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211593489.SRDLC, 12.24%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 37005  | 36153  | 36190  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211594330.SRDLC, 6.99%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 12204  | 11949  | 12131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211596437.SRDLC, 28.49%, 10/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 10309  | 10072  | 10055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211598776.SRDLC, 12.99%, 10/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 21266  | 20773  | 20829  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211598872.SRDLC, 13.99%, 10/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 25785  | 25233  | 25035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211602340.SRDLC, 25.49%, 10/20/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 7577  | 7387  | 1258  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211603051.SRDLC, 20.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 2621  | 2564  | 2464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211603115.SRDLC, 21.49%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 12274  | 12007  | 11573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211604314.SRDLC, 23.49%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 22479  | 21979  | 21064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211604440.SRDLC, 12.49%, 10/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 7634  | 7471  | 7506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211605590.SRDLC, 24.99%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 5282  | 5167  | 4926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211607519.SRDLC, 21.49%, 10/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 11367  | 11121  | 10680  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211607731.SRDLC, 20.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 3145  | 3076  | 2957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211609108.SRDLC, 30.99%, 10/17/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 4643  | 4527  | 1196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211610325.SRDLC, 28.49%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 14358  | 13999  | 13547  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211612188.SRDLC, 29.99%, 10/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 2864  | 2801  | 2671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211612897.SRDLC, 23.99%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 2727  | 2664  | 2582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211613974.SRDLC, 7.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 17988  | 17609  | 17845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211614206.SRDLC, 10.49%, 10/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 4148  | 4053  | 4099  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211617223.SRDLC, 21.49%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 2602  | 2551  | 2500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211617872.SRDLC, 27.49%, 10/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 4678  | 4567  | 4440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211618533.SRDLC, 28.99%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 5710  | 5574  | 5384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211619073.SRDLC, 21.49%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 13116  | 12831  | 12334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211619235.SRDLC, 24.49%, 10/17/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 15129  | 14772  | 14448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211619478.SRDLC, 20.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 1572  | 1538  | 1479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211620080.SRDLC, 9.74%, 10/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 14551  | 14245  | 14434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211621156.SRDLC, 16.99%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 3903  | 3828  | 3777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211621206.SRDLC, 30.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 2670  | 2611  | 2482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211625334.SRDLC, 8.74%, 10/2/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 3814  | 3743  | 3788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211628722.SRDLC, 23.49%, 10/17/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 1188  | 1164  | 1142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211638298.SRDLC, 29.49%, 10/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 4645  | 4537  | 4404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211641271.SRDLC, 32.39%, 11/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 4889  | 4777  | 4537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211641850.SRDLC, 29.99%, 10/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 4821  | 4705  | 4482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211643134.SRDLC, 24.99%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 1320  | 1292  | 1233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211643423.SRDLC, 30.49%, 10/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 5102  | 4980  | 4809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211643865.SRDLC, 27.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 7783  | 7612  | 7247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211645327.SRDLC, 27.49%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 20353  | 19883  | 18940  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **97** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211646516.SRDLC, 27.49%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | $6186  | $6050  | $5754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211648664.SRDLC, 28.99%, 10/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 11017  | 10800  | 10575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211649625.SRDLC, 25.49%, 10/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 8800  | 8627  | 8455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211650428.SRDLC, 14.49%, 10/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 13539  | 13234  | 13064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211653693.SRDLC, 21.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 2885  | 2823  | 2714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211654305.SRDLC, 20.99%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 6935  | 6785  | 6523  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211654450.SRDLC, 14.99%, 10/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 3900  | 3817  | 3712  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211656467.SRDLC, 21.49%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 4372  | 4277  | 4113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211660307.SRDLC, 12.50%, 10/21/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 27473  | 26786  | 27036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211660730.SRDLC, 24.99%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 4402  | 4305  | 4111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211664816.SRDLC, 26.49%, 10/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 7430  | 7254  | 7041  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211665392.SRDLC, 7.66%, 10/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 21221  | 20774  | 21020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211666657.SRDLC, 23.49%, 10/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 10447  | 10219  | 9750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211667220.SRDLC, 9.74%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 8870  | 8681  | 8789  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211671848.SRDLC, 27.49%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 8845  | 8650  | 8240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211675292.SRDLC, 20.99%, 10/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 3102  | 3038  | 2984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211677125.SRDLC, 26.49%, 10/31/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 16817  | 16412  | 15755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211678113.SRDLC, 25.99%, 10/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 2205  | 2157  | 2059  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211678176.SRDLC, 31.89%, 10/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 6154  | 6011  | 5837  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211679180.SRDLC, 32.39%, 10/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 4780  | 4666  | 4507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211680129.SRDLC, 13.74%, 11/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 16550  | 16174  | 16356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211681648.SRDLC, 32.39%, 10/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 8605  | 8399  | 8120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211690816.SRDLC, 7.83%, 10/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 35655  | 34861  | 35534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211699716.SRDLC, 8.24%, 10/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 10200  | 9984  | 10105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211701112.SRDLC, 10.49%, 10/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 21519  | 21038  | 21314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211706352.SRDLC, 13.74%, 10/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 7886  | 7704  | 7720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211709941.SRDLC, 16.49%, 10/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 19797  | 19336  | 19435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211715137.SRDLC, 9.74%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 6386  | 6249  | 6326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211725389.SRDLC, 20.25%, 10/21/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 19262  | 18809  | 18580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211737791.SRDLC, 26.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4995  | 4892  | 4791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211739637.SRDLC, 18.99%, 11/8/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 2469  | 2419  | 2366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211741577.SRDLC, 29.49%, 10/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 23948  | 23370  | 22293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211742495.SRDLC, 24.24%, 10/21/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 8328  | 8120  | 985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211751095.SRDLC, 15.50%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 2159  | 2113  | 2109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211755003.SRDLC, 15.00%, 2/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 5594  | 5467  | 4906  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211755456.SRDLC, 17.24%, 10/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 19071  | 18659  | 18535  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211755710.SRDLC, 32.39%, 10/23/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 10847  | 10576  | 2750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211772043.SRDLC, 30.99%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 5341  | 5222  | 4978  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211773210.SRDLC, 14.49%, 10/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 7248  | 7080  | 7066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211786210.SRDLC, 13.49%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 7310  | 7153  | 7180  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211788018.SRDLC, 7.24%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 10854  | 10625  | 10808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211795218.SRDLC, 9.74%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 6388  | 6253  | 6290  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211796468.SRDLC, 21.49%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 14997  | 14667  | 14135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211796634.SRDLC, 15.74%, 10/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 14437  | 14101  | 13960  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211802808.SRDLC, 14.24%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 34455  | 33716  | 33673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211802885.SRDLC, 7.24%, 10/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 11818  | 11569  | 11753  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211804500.SRDLC, 13.99%, 10/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 3099  | 3033  | 3044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211809160.SRDLC, 22.49%, 11/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 12191  | 11908  | 11699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211810054.SRDLC, 9.74%, 10/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2024 | 33262  | 32543  | 32977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211818156.SRDLC, 31.89%, 10/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 13986  | 13660  | 13337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211827137.SRDLC, 17.99%, 10/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 23381  | 22834  | 22801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211827148.SRDLC, 10.74%, 10/24/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 11545  | 11324  | 11427  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **98** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 211830260.SRDLC, 13.74%, 10/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | $6495  | $6344  | $6387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211830375.SRDLC, 20.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4478  | 4378  | 4221  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211833043.SRDLC, 14.25%, 10/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 37151  | 36288  | 36362  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211833430.SRDLC, 21.49%, 10/29/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2024 | 21859  | 21369  | 20640  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211836473.SRDLC, 12.74%, 10/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 13196  | 12885  | 13069  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211836705.SRDLC, 15.49%, 10/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 24205  | 23642  | 23621  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211838143.SRDLC, 12.49%, 10/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 15446  | 15115  | 15173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211849428.SRDLC, 11.49%, 10/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 2122  | 2077  | 2103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211851211.SRDLC, 14.24%, 10/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 15789  | 15422  | 15411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211854729.SRDLC, 7.17%, 10/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 8903  | 8714  | 8866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211857238.SRDLC, 7.83%, 10/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 16847  | 16471  | 16792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211859957.SRDLC, 12.49%, 11/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2024 | 21194  | 20733  | 20831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211863518.SRDLC, 6.74%, 2/28/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 23397  | 22850  | 17962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211866440.SRDLC, 21.99%, 11/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 7434  | 7286  | 7114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211867631.SRDLC, 32.39%, 11/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 10107  | 9874  | 9492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211869449.SRDLC, 7.24%, 10/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 14925  | 14608  | 14847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211878341.SRDLC, 20.99%, 11/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 10456  | 10209  | 10026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211880263.SRDLC, 12.99%, 10/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 42522  | 41608  | 41656  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211880623.SRDLC, 25.99%, 10/28/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 22963  | 22418  | 21775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211882008.SRDLC, 9.24%, 11/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 11402  | 11158  | 11235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211882041.SRDLC, 21.49%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 10755  | 10519  | 10121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211882128.SRDLC, 12.99%, 10/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 904  | 884  | 900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211886136.SRDLC, 10.49%, 10/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 22819  | 22308  | 22601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211887025.SRDLC, 11.24%, 10/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 19388  | 18940  | 19181  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211891052.SRDLC, 29.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4711  | 4600  | 4471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211891641.SRDLC, 28.99%, 11/12/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4520  | 4407  | 1136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211894049.SRDLC, 18.06%, 10/28/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 676  | 662  | 668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211900969.SRDLC, 15.74%, 10/28/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 13863  | 13527  | 13739  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211912482.SRDLC, 12.24%, 10/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 32842  | 32081  | 32191  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211923265.SRDLC, 14.99%, 11/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 7534  | 7369  | 7151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211933523.SRDLC, 12.99%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1620  | 1587  | 1570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211936508.SRDLC, 25.49%, 11/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 11236  | 10975  | 10622  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211941845.SRDLC, 14.24%, 11/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 7269  | 7090  | 4388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211943330.SRDLC, 26.49%, 11/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9670  | 9436  | 9098  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211948493.SRDLC, 29.99%, 11/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 4664  | 4555  | 4387  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211961550.SRDLC, 32.39%, 10/30/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 8349  | 8149  | 7774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211962006.SRDLC, 24.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1674  | 1640  | 1598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211974487.SRDLC, 30.99%, 10/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 1068  | 1044  | 985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211979091.SRDLC, 24.49%, 11/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 21474  | 20947  | 20247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 211991181.SRDLC, 16.24%, 10/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 2161  | 2115  | 2115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212000556.SRDLC, 17.49%, 11/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4626  | 4520  | 4384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212003950.SRDLC, 30.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 18192  | 17780  | 16924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212009885.SRDLC, 8.24%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 22060  | 21588  | 21854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212030685.SRDLC, 12.49%, 11/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/3/2024 | 30896  | 30197  | 30468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212031731.SRDLC, 24.99%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 1803  | 1763  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212038815.SRDLC, 13.74%, 11/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 4231  | 4132  | 4153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212042445.SRDLC, 12.99%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 9749  | 9539  | 9569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212043602.SRDLC, 10.74%, 11/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 36586  | 35761  | 36166  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212044965.SRDLC, 28.49%, 11/4/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 11076  | 10799  | 2730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212047088.SRDLC, 10.49%, 11/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 32636  | 31881  | 32262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212050834.SRDLC, 25.99%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 1085  | 1061  | 1014  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212052559.SRDLC, 17.99%, 11/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2869  | 2812  | 2772  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **99** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212057088.SRDLC, 13.99%, 11/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | $1628  | $1596  | $1572  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212065246.SRDLC, 28.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3625  | 3543  | 3378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212072441.SRDLC, 28.49%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2945  | 2880  | 2717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212073316.SRDLC, 24.99%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2704  | 2644  | 2514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212073519.SRDLC, 20.99%, 11/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 17109  | 16705  | 16164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212076054.SRDLC, 10.99%, 11/4/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3156  | 3095  | 3049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212077440.SRDLC, 22.99%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 7944  | 7784  | 7604  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212084048.SRDLC, 7.00%, 11/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 21833  | 21367  | 21716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212085057.SRDLC, 16.00%, 11/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 34441  | 33635  | 33391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212085491.SRDLC, 18.49%, 11/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 6023  | 5885  | 5704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212085986.SRDLC, 19.49%, 11/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 3947  | 3869  | 3778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212087175.SRDLC, 20.99%, 11/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3582  | 3503  | 3359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212088656.SRDLC, 28.99%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1170  | 1147  | 1114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212089191.SRDLC, 12.99%, 11/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 20197  | 19760  | 19153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212090690.SRDLC, 31.89%, 11/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 5667  | 5534  | 5347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212091831.SRDLC, 17.99%, 11/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 1640  | 1608  | 1584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212092761.SRDLC, 13.24%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 32220  | 31488  | 31907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212093389.SRDLC, 15.99%, 11/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 5771  | 5646  | 5467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212094438.SRDLC, 20.99%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 23413  | 22875  | 22369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212095046.SRDLC, 22.49%, 11/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 2797  | 2733  | 2669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212096512.SRDLC, 23.99%, 11/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 5399  | 5280  | 5022  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212097847.SRDLC, 20.49%, 11/5/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 3295  | 3229  | 3154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212098276.SRDLC, 11.49%, 11/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 30989  | 30270  | 30703  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212100565.SRDLC, 21.49%, 11/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 5378  | 5259  | 5044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212102293.SRDLC, 22.99%, 11/5/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 5455  | 5346  | 5212  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212104255.SRDLC, 28.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 13593  | 13287  | 12658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212111590.SRDLC, 21.99%, 11/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 23374  | 22835  | 22329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212111910.SRDLC, 30.99%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4548  | 4446  | 4199  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212115324.SRDLC, 29.49%, 11/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 14364  | 14019  | 13552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212115923.SRDLC, 24.99%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 6309  | 6169  | 5871  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212116569.SRDLC, 23.49%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 5395  | 5276  | 5021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212118735.SRDLC, 32.39%, 11/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 5398  | 5268  | 5049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212121621.SRDLC, 26.99%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 6329  | 6187  | 5886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212125309.SRDLC, 22.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 10773  | 10532  | 10158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212127095.SRDLC, 14.24%, 11/6/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4072  | 3992  | 4010  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212129603.SRDLC, 10.74%, 11/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 9111  | 8905  | 9004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212130013.SRDLC, 21.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 12655  | 12376  | 11947  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212134873.SRDLC, 15.74%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 23063  | 22536  | 22521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212138570.SRDLC, 21.49%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 9321  | 9115  | 8756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212139079.SRDLC, 20.99%, 11/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 12357  | 12051  | 11720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212140073.SRDLC, 32.39%, 11/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 14458  | 14111  | 13557  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212143411.SRDLC, 13.74%, 11/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 10813  | 10560  | 10590  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212146182.SRDLC, 13.49%, 11/8/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 23496  | 22948  | 23091  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212147696.SRDLC, 30.99%, 11/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3687  | 3605  | 3455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212155486.SRDLC, 21.49%, 11/22/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 9476  | 9280  | 9092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212156139.SRDLC, 18.99%, 11/19/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4311  | 4203  | 769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212162245.SRDLC, 12.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 20311  | 19903  | 19650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212163767.SRDLC, 22.49%, 12/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 3457  | 3371  | 510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212164372.SRDLC, 22.99%, 11/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 11680  | 11421  | 10886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212166390.SRDLC, 32.39%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 8675  | 8466  | 8192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212173048.SRDLC, 23.99%, 5/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 10000  | 9750  | 1353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212175279.SRDLC, 15.00%, 4/8/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 19277  | 18800  | 17563  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **100** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212175593.SRDLC, 24.99%, 11/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | $11231  | $10963  | $10634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212187695.SRDLC, 18.99%, 11/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3863  | 3778  | 3661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212189767.SRDLC, 14.99%, 11/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 14005  | 13685  | 13869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212191378.SRDLC, 32.39%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 11567  | 11288  | 10923  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212195852.SRDLC, 24.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 7030  | 6873  | 6580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212196573.SRDLC, 16.99%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2456  | 2407  | 2375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212202409.SRDLC, 15.74%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 7100  | 6945  | 6938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212202605.SRDLC, 10.49%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 15999  | 15636  | 15933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212212202.SRDLC, 18.74%, 11/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 16570  | 16180  | 15998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212213030.SRDLC, 10.99%, 11/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 6863  | 6707  | 6834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212213665.SRDLC, 26.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5720  | 5604  | 5471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212214928.SRDLC, 8.24%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7004  | 6852  | 6960  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212215137.SRDLC, 12.49%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 26273  | 25658  | 25782  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212216513.SRDLC, 21.49%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2330  | 2279  | 2191  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212216568.SRDLC, 19.99%, 11/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4274  | 4179  | 4011  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212220783.SRDLC, 22.49%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 7459  | 7286  | 7134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212223239.SRDLC, 21.49%, 11/12/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 6654  | 6517  | 6381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212223334.SRDLC, 13.49%, 11/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 20977  | 20479  | 20784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212224062.SRDLC, 24.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 9357  | 9139  | 8878  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212226158.SRDLC, 10.25%, 11/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 36554  | 35726  | 36173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212236851.SRDLC, 31.89%, 11/12/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 6918  | 6745  | 1714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212237741.SRDLC, 7.07%, 11/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 17261  | 16873  | 17237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212242581.SRDLC, 29.99%, 11/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8075  | 7882  | 7588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212243888.SRDLC, 26.99%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5425  | 5304  | 5031  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212247989.SRDLC, 23.99%, 11/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 5553  | 5424  | 5256  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212254603.SRDLC, 26.49%, 11/12/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8279  | 8111  | 7924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212254897.SRDLC, 29.49%, 11/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 14412  | 14067  | 13543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212256019.SRDLC, 19.49%, 11/20/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 21859  | 21312  | 21018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212258158.SRDLC, 14.99%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 7091  | 6936  | 6729  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212260739.SRDLC, 22.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 7464  | 7291  | 7083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212262455.SRDLC, 15.99%, 11/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 11543  | 11290  | 10953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212262562.SRDLC, 29.49%, 11/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 23275  | 22737  | 21958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212264601.SRDLC, 26.49%, 11/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 14469  | 14125  | 13665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212267422.SRDLC, 24.49%, 11/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 5730  | 5594  | 5403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212270931.SRDLC, 26.99%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2815  | 2749  | 2674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212272608.SRDLC, 15.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5327  | 5210  | 5065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212272881.SRDLC, 20.49%, 11/27/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 18208  | 17836  | 17513  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212281503.SRDLC, 28.99%, 11/13/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 13057  | 12733  | 9770  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212282102.SRDLC, 7.66%, 11/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 19228  | 18812  | 19076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212282343.SRDLC, 24.99%, 11/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 11319  | 11056  | 10756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212286537.SRDLC, 20.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5373  | 5254  | 5064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212289297.SRDLC, 11.24%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 21971  | 21471  | 21755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212289900.SRDLC, 32.39%, 11/30/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 14758  | 14420  | 13761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212291473.SRDLC, 20.99%, 11/18/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 18995  | 18559  | 17999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212294050.SRDLC, 24.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 996  | 976  | 956  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212298409.SRDLC, 21.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 10755  | 10515  | 10143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212302097.SRDLC, 22.49%, 11/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 9004  | 8803  | 8521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212308415.SRDLC, 30.49%, 11/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 13077  | 12759  | 12343  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212315272.SRDLC, 22.99%, 11/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9392  | 9175  | 8925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212318956.SRDLC, 24.99%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 6176  | 6032  | 5856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212333158.SRDLC, 23.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 18473  | 18061  | 17272  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212339614.SRDLC, 25.99%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 16867  | 16473  | 16008  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **101** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212346529.SRDLC, 23.49%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | $2241  | $2189  | $2125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212349739.SRDLC, 29.99%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 19227  | 18765  | 18151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212351572.SRDLC, 30.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 13644  | 13335  | 12693  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212352414.SRDLC, 28.49%, 11/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 10556  | 10304  | 9953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212352874.SRDLC, 31.89%, 11/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 14166  | 13833  | 13429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212352988.SRDLC, 24.99%, 11/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 1183  | 1157  | 1143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212353140.SRDLC, 24.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4679  | 4570  | 4439  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212356804.SRDLC, 26.49%, 11/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 13905  | 13572  | 13164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212356819.SRDLC, 19.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2878  | 2820  | 2763  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212359337.SRDLC, 28.99%, 11/25/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 4225  | 4138  | 4033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212359672.SRDLC, 28.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 11781  | 11515  | 10971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212360226.SRDLC, 21.49%, 11/15/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 4696  | 4578  | 1099  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212361733.SRDLC, 23.99%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 3730  | 3654  | 3576  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212364539.SRDLC, 25.99%, 11/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 3573  | 3493  | 3336  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212365062.SRDLC, 23.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 13488  | 13186  | 12626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212365965.SRDLC, 26.49%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 13550  | 13245  | 12673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212366195.SRDLC, 26.49%, 11/15/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 2511  | 2459  | 2404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212367294.SRDLC, 20.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4298  | 4203  | 4052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212367757.SRDLC, 31.89%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1889  | 1844  | 1791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212367831.SRDLC, 22.49%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2331  | 2277  | 2234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212368248.SRDLC, 14.99%, 11/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7126  | 6970  | 6799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212368843.SRDLC, 30.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5912  | 5779  | 5500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212369277.SRDLC, 21.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 17925  | 17526  | 16905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212372136.SRDLC, 32.39%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 10609  | 10371  | 10016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212372559.SRDLC, 30.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1819  | 1778  | 1693  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212373207.SRDLC, 28.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5435  | 5322  | 5204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212373222.SRDLC, 30.49%, 11/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5290  | 5163  | 4991  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212376456.SRDLC, 16.99%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 982  | 962  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212376699.SRDLC, 26.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4336  | 4239  | 4058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212377389.SRDLC, 26.99%, 11/18/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9320  | 9111  | 8731  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212377735.SRDLC, 22.49%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 4489  | 4389  | 4229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212377798.SRDLC, 10.99%, 11/28/2026 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7414  | 7229  | 286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212378318.SRDLC, 23.99%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1492  | 1462  | 1431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212378738.SRDLC, 26.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9109  | 8905  | 8480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212378754.SRDLC, 17.49%, 11/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 3671  | 3587  | 3480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212378879.SRDLC, 22.49%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 4489  | 4389  | 4229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212380088.SRDLC, 7.24%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3495  | 3419  | 3479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212381874.SRDLC, 23.99%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 8737  | 8533  | 8286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212381896.SRDLC, 19.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 20557  | 20139  | 19743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212382255.SRDLC, 28.99%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2508  | 2456  | 2400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212383662.SRDLC, 21.49%, 11/30/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 17821  | 17411  | 16692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212385813.SRDLC, 30.99%, 12/2/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6679  | 6529  | 6160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212389539.SRDLC, 26.49%, 11/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 6223  | 6074  | 5881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212390612.SRDLC, 28.49%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 23992  | 23417  | 22656  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212395311.SRDLC, 28.49%, 11/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9597  | 9367  | 9056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212410244.SRDLC, 23.99%, 11/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 5377  | 5256  | 5045  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212411115.SRDLC, 12.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 7065  | 6910  | 6719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212417176.SRDLC, 30.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 6367  | 6223  | 5923  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212423188.SRDLC, 15.99%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 980  | 961  | 949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212424214.SRDLC, 19.49%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2878  | 2820  | 2763  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212424233.SRDLC, 24.99%, 11/18/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1661  | 1627  | 1593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212427134.SRDLC, 28.99%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 11523  | 11247  | 10880  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **102** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212436646.SRDLC, 24.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | $15343  | $14977  | $14540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212436884.SRDLC, 26.49%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 9574  | 9345  | 9056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212437043.SRDLC, 26.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4501  | 4396  | 4269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212437727.SRDLC, 6.49%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 36643  | 35847  | 36486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212438129.SRDLC, 23.49%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 1517  | 1483  | 1468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212438214.SRDLC, 24.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 9907  | 9685  | 9277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212438608.SRDLC, 30.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 9150  | 8943  | 8508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212438980.SRDLC, 32.39%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 15723  | 15354  | 14831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212440195.SRDLC, 27.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5765  | 5627  | 5446  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212440716.SRDLC, 22.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 13413  | 13101  | 12854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212444137.SRDLC, 32.39%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 22169  | 21635  | 20921  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212445795.SRDLC, 30.99%, 11/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2198  | 2149  | 2055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212446188.SRDLC, 30.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1091  | 1067  | 1016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212447463.SRDLC, 24.99%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5859  | 5727  | 5481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212447916.SRDLC, 30.99%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 9096  | 8889  | 8486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212452187.SRDLC, 27.49%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 17254  | 16841  | 16306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212454137.SRDLC, 30.99%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 14150  | 13817  | 13419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212455188.SRDLC, 30.49%, 11/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 20199  | 19714  | 19055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212463240.SRDLC, 23.49%, 11/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 8945  | 8747  | 8368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212464205.SRDLC, 14.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 6204  | 6068  | 5899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212468131.SRDLC, 23.49%, 11/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 8217  | 8025  | 7795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212470208.SRDLC, 25.49%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 14343  | 14001  | 13563  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212473125.SRDLC, 8.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 8320  | 8140  | 8254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212474168.SRDLC, 23.99%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2449  | 2395  | 2347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212476233.SRDLC, 20.49%, 11/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 13458  | 13159  | 12739  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212481257.SRDLC, 30.49%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 7406  | 7229  | 6992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212483697.SRDLC, 24.99%, 11/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 5432  | 5310  | 5116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212484659.SRDLC, 26.99%, 11/19/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 963  | 939  | 161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212484817.SRDLC, 32.39%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 11098  | 10830  | 10484  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212485367.SRDLC, 22.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 4110  | 4026  | 3945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212485749.SRDLC, 22.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1865  | 1821  | 1787  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212486678.SRDLC, 18.99%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2958  | 2898  | 2840  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212486970.SRDLC, 30.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4912  | 4801  | 4572  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212487831.SRDLC, 21.74%, 11/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 12443  | 12149  | 12127  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212487904.SRDLC, 24.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 12619  | 12336  | 11810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212488555.SRDLC, 22.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 3591  | 3511  | 3385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212488930.SRDLC, 27.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3619  | 3538  | 3373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212488949.SRDLC, 30.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1819  | 1778  | 1693  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212490624.SRDLC, 25.99%, 11/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 9371  | 9151  | 8905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212490932.SRDLC, 14.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 3989  | 3901  | 3791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212491349.SRDLC, 20.99%, 11/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2695  | 2635  | 2555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212491651.SRDLC, 22.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 16782  | 16393  | 16083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212491957.SRDLC, 20.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2687  | 2627  | 2533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212493555.SRDLC, 22.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2005  | 1958  | 1921  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212494426.SRDLC, 30.49%, 11/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 8127  | 7924  | 225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212495119.SRDLC, 28.99%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1672  | 1638  | 1601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212495275.SRDLC, 22.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 11667  | 11407  | 10998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212498228.SRDLC, 32.39%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 19278  | 18813  | 18192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212500484.SRDLC, 23.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1620  | 1584  | 1516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212506203.SRDLC, 23.99%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6541  | 6388  | 6206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212508198.SRDLC, 27.49%, 12/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5592  | 5468  | 5163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212509181.SRDLC, 28.49%, 11/19/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 24409  | 23799  | 6007  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **103** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212515204.SRDLC, 23.49%, 11/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | $4499  | $4398  | $4232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212516141.SRDLC, 30.49%, 11/19/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 10839  | 10570  | 10379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212518200.SRDLC, 29.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 24033  | 23456  | 22704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212518235.SRDLC, 24.49%, 11/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 14026  | 13699  | 13308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212518686.SRDLC, 32.39%, 11/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 13885  | 13550  | 13081  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212518697.SRDLC, 23.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1574  | 1541  | 1510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212519135.SRDLC, 31.89%, 11/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2373  | 2317  | 2261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212520352.SRDLC, 24.99%, 12/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6271  | 6126  | 5885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212520627.SRDLC, 27.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 4072  | 3980  | 3804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212521296.SRDLC, 26.49%, 12/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 4897  | 4783  | 4595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212522323.SRDLC, 28.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6343  | 6200  | 5907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212522336.SRDLC, 25.99%, 11/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6782  | 6630  | 6372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212522626.SRDLC, 25.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 9471  | 9259  | 8868  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212523124.SRDLC, 15.99%, 11/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 7127  | 6971  | 6790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212525173.SRDLC, 24.99%, 11/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1087  | 1063  | 1022  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212525214.SRDLC, 23.49%, 11/19/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4141  | 4056  | 3973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212525379.SRDLC, 18.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 6694  | 6545  | 6314  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212526407.SRDLC, 19.99%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 5260  | 5143  | 4963  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212526438.SRDLC, 21.49%, 11/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 10553  | 10316  | 9954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212528704.SRDLC, 26.49%, 11/20/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5669  | 5533  | 5357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212529272.SRDLC, 23.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 6680  | 6521  | 6322  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212530777.SRDLC, 30.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 910  | 889  | 849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212530790.SRDLC, 16.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1637  | 1604  | 1583  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212531029.SRDLC, 28.49%, 11/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 7300  | 7130  | 6826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212531060.SRDLC, 21.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 16133  | 15772  | 15222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212532549.SRDLC, 8.24%, 11/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 32390  | 31682  | 32151  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212532732.SRDLC, 28.49%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5437  | 5315  | 5066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212533309.SRDLC, 32.39%, 11/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 10603  | 10347  | 10031  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212533756.SRDLC, 30.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 10915  | 10668  | 10167  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212534647.SRDLC, 11.49%, 11/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 6557  | 6404  | 6497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212534812.SRDLC, 6.82%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 17253  | 16863  | 17236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212534930.SRDLC, 22.49%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2797  | 2732  | 2681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212535221.SRDLC, 21.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 8073  | 7893  | 7613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212535592.SRDLC, 22.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5391  | 5270  | 5049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212536138.SRDLC, 25.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 8311  | 8140  | 7974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212536216.SRDLC, 24.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1082  | 1057  | 1013  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212536891.SRDLC, 31.89%, 11/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 18964  | 18518  | 18062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212537818.SRDLC, 32.39%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 9639  | 9403  | 9105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212540163.SRDLC, 30.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1182  | 1156  | 1101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212542093.SRDLC, 27.49%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2834  | 2776  | 2714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212543209.SRDLC, 19.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 28476  | 27801  | 27564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212543418.SRDLC, 22.49%, 11/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 9324  | 9107  | 8938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212545683.SRDLC, 20.99%, 11/22/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 13757  | 13450  | 13028  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212545957.SRDLC, 24.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 13520  | 13217  | 12659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212546095.SRDLC, 14.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 22159  | 21671  | 21068  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212546500.SRDLC, 18.99%, 11/20/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1643  | 1610  | 1578  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212553178.SRDLC, 17.99%, 11/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 891  | 871  | 847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212557371.SRDLC, 27.99%, 11/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 4796  | 4681  | 4532  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212559322.SRDLC, 10.99%, 11/21/2026 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 3221  | 3156  | 3118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212565179.SRDLC, 17.49%, 11/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 12027  | 11750  | 11451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212568909.SRDLC, 10.49%, 11/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 10549  | 10318  | 10471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212571011.SRDLC, 27.49%, 1/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 6942  | 6843  | 6656  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **104** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 212584898.SRDLC, 10.74%, 11/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | $14632  | $14298  | $14499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212618843.SRDLC, 9.24%, 11/25/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 24791  | 24240  | 24619  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212626756.SRDLC, 15.24%, 11/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 16471  | 16107  | 16146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212702290.SRDLC, 13.99%, 12/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2024 | 37450  | 36586  | 36950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212722882.SRDLC, 11.24%, 12/2/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2024 | 22783  | 22249  | 22491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212753383.SRDLC, 14.25%, 12/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2024 | 15963  | 15595  | 15595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 212784247.SRDLC, 13.74%, 12/2/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2024 | 22097  | 21576  | 21672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213012488.SRDLC, 23.49%, 1/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 9408  | 9276  | 9025  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213144753.SRDLC, 32.39%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 9855  | 9712  | 9456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213229711.SRDLC, 23.99%, 1/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4230  | 4172  | 4028  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213308773.SRDLC, 24.99%, 1/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 4322  | 4264  | 4182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213320450.SRDLC, 23.99%, 1/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5563  | 5484  | 5322  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213345457.SRDLC, 25.99%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 3708  | 3654  | 3575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213365097.SRDLC, 32.39%, 1/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 14684  | 14468  | 14074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213391111.SRDLC, 26.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6603  | 6511  | 6286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213394808.SRDLC, 27.49%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 7637  | 7526  | 7377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213416359.SRDLC, 12.99%, 1/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 23267  | 22946  | 22475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213421520.SRDLC, 19.99%, 1/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 1125  | 1109  | 1078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213436223.SRDLC, 9.99%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 14170  | 13982  | 14112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213469359.SRDLC, 15.74%, 1/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 28624  | 28216  | 28302  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213492359.SRDLC, 15.99%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 9336  | 9206  | 9032  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213493334.SRDLC, 31.89%, 1/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 3870  | 3814  | 3708  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213493521.SRDLC, 25.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2828  | 2788  | 2692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213500714.SRDLC, 8.24%, 1/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 20367  | 20086  | 20233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213504137.SRDLC, 20.49%, 1/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 14069  | 13873  | 13480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213508920.SRDLC, 26.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6876  | 6776  | 6576  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213520528.SRDLC, 14.24%, 1/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 13028  | 12839  | 12806  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213544190.SRDLC, 9.74%, 1/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 12055  | 11889  | 11902  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213556046.SRDLC, 28.49%, 1/5/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 9874  | 9730  | 9432  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213559151.SRDLC, 19.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 12187  | 12017  | 11682  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213567263.SRDLC, 10.34%, 1/23/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 38344  | 37792  | 38044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213569278.SRDLC, 22.49%, 1/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 11277  | 11119  | 10850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213578196.SRDLC, 14.99%, 1/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 14301  | 14098  | 14161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213578828.SRDLC, 21.49%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 7176  | 7080  | 6975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213594966.SRDLC, 23.99%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 1923  | 1895  | 1847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213600778.SRDLC, 18.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 1789  | 1766  | 1734  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213606716.SRDLC, 13.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 13975  | 13782  | 13502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213606778.SRDLC, 15.24%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1866  | 1840  | 1835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213612896.SRDLC, 18.99%, 1/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4447  | 4389  | 4300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213622316.SRDLC, 31.89%, 1/15/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4672  | 4605  | 4496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213629074.SRDLC, 31.99%, 1/15/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5955  | 5867  | 5809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213631429.SRDLC, 22.49%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2064  | 2035  | 2001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213633922.SRDLC, 20.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 13133  | 12947  | 12675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213634329.SRDLC, 22.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 15975  | 15752  | 15309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213639503.SRDLC, 32.39%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 14684  | 14468  | 14027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213641455.SRDLC, 15.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4668  | 4603  | 4509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213647543.SRDLC, 32.39%, 1/27/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 7635  | 7523  | 7355  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213648208.SRDLC, 28.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 14176  | 13976  | 13410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213652198.SRDLC, 20.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 11255  | 11098  | 10788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213653532.SRDLC, 30.99%, 1/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 937  | 924  | 879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213655155.SRDLC, 24.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5843  | 5758  | 5605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213655343.SRDLC, 22.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5840  | 5762  | 5646  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **105** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 213661609.SRDLC, 32.39%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | $14194  | $13986  | $13560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213661984.SRDLC, 24.49%, 1/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2800  | 2761  | 2658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213662442.SRDLC, 30.99%, 1/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4123  | 4065  | 3962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213663584.SRDLC, 21.49%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 1439  | 1418  | 1395  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213665420.SRDLC, 24.49%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 17524  | 17268  | 16812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213665510.SRDLC, 25.49%, 1/28/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 16361  | 16117  | 15974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213668415.SRDLC, 24.99%, 1/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 12274  | 12103  | 11781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213669584.SRDLC, 14.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 3824  | 3771  | 3694  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213670201.SRDLC, 18.49%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2684  | 2648  | 2625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213672263.SRDLC, 29.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4729  | 4663  | 4510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213672690.SRDLC, 23.49%, 1/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 20665  | 20366  | 20019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213675537.SRDLC, 20.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 12570  | 12388  | 12109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213675774.SRDLC, 22.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2257  | 2225  | 2149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213676681.SRDLC, 28.99%, 1/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 13785  | 13584  | 13356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213679721.SRDLC, 21.49%, 1/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 2313  | 2283  | 2248  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213680485.SRDLC, 22.49%, 1/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 10776  | 10632  | 10451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213680875.SRDLC, 6.91%, 1/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 13421  | 13236  | 13370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213681388.SRDLC, 28.49%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4970  | 4903  | 4783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213685048.SRDLC, 11.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4438  | 4380  | 4335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213685112.SRDLC, 20.49%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5376  | 5305  | 5210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213685225.SRDLC, 17.99%, 1/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 3575  | 3527  | 3491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213685796.SRDLC, 14.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5130  | 5059  | 4955  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213686121.SRDLC, 19.49%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 7496  | 7391  | 7306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213686845.SRDLC, 23.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 7195  | 7097  | 7001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213688224.SRDLC, 28.49%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4842  | 4771  | 4627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213689308.SRDLC, 19.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4858  | 4788  | 4703  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213693069.SRDLC, 23.49%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 11532  | 11367  | 11079  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213693587.SRDLC, 24.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 3296  | 3249  | 3138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213694002.SRDLC, 19.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4216  | 4157  | 4042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213696869.SRDLC, 12.49%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 21579  | 21268  | 21259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213698443.SRDLC, 24.49%, 1/15/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 17186  | 16935  | 16470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213699659.SRDLC, 30.99%, 1/15/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6307  | 6213  | 6152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213701146.SRDLC, 32.39%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 14574  | 14361  | 13918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213701540.SRDLC, 21.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6760  | 6665  | 6479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213703522.SRDLC, 20.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5379  | 5308  | 5212  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213705392.SRDLC, 30.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 14207  | 14007  | 13434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213705879.SRDLC, 28.99%, 1/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 902  | 890  | 870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213706392.SRDLC, 28.99%, 1/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 19534  | 19249  | 18807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213706480.SRDLC, 30.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 9389  | 9252  | 8972  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213709895.SRDLC, 11.49%, 1/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 18836  | 18569  | 18704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213710808.SRDLC, 20.99%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 5630  | 5552  | 5396  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213711251.SRDLC, 22.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 18796  | 18533  | 18011  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213711874.SRDLC, 27.49%, 1/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 1157  | 1140  | 1113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213713328.SRDLC, 27.49%, 1/27/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 19705  | 19433  | 19063  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213714822.SRDLC, 8.24%, 1/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 37030  | 36517  | 36807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213715053.SRDLC, 32.39%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 14684  | 14468  | 14027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213716975.SRDLC, 17.49%, 1/1/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 22770  | 22445  | 21995  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213717895.SRDLC, 22.99%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2695  | 2660  | 2605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213718938.SRDLC, 25.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 10367  | 10222  | 9870  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213719115.SRDLC, 17.99%, 1/16/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 3217  | 3175  | 3142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213722585.SRDLC, 25.99%, 1/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 18768  | 18496  | 18029  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213725771.SRDLC, 10.99%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 37145  | 36631  | 36896  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **106** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 213726035.SRDLC, 21.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | $18777  | $18515  | $17996  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213726891.SRDLC, 26.49%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 10725  | 10568  | 10285  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213726964.SRDLC, 28.49%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 12195  | 12017  | 11658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213728351.SRDLC, 8.24%, 1/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 37030  | 36520  | 36787  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213728961.SRDLC, 20.99%, 1/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 24271  | 23919  | 23383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213729137.SRDLC, 21.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 12205  | 12035  | 11697  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213729191.SRDLC, 19.49%, 1/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 18740  | 18479  | 17965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213729987.SRDLC, 18.04%, 1/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5635  | 5556  | 5531  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213730056.SRDLC, 12.74%, 1/17/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 10689  | 10534  | 10606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213736560.SRDLC, 18.99%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2233  | 2203  | 2167  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213744133.SRDLC, 17.49%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 4910  | 4845  | 4797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213750027.SRDLC, 19.49%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 9309  | 9185  | 9036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213750203.SRDLC, 24.49%, 1/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 23539  | 23209  | 22449  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213752323.SRDLC, 10.74%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 9284  | 9155  | 9222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213755960.SRDLC, 8.74%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 4168  | 4111  | 4141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213758346.SRDLC, 6.82%, 1/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 18903  | 18636  | 18859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213758849.SRDLC, 17.99%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 18712  | 18450  | 18400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213759605.SRDLC, 15.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 9561  | 9425  | 9290  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213759653.SRDLC, 14.99%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 24142  | 23794  | 23825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213765087.SRDLC, 19.99%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 9700  | 9559  | 9415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213765758.SRDLC, 24.24%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 12743  | 12560  | 12448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213766341.SRDLC, 12.74%, 1/21/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 38870  | 38304  | 38575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213766610.SRDLC, 13.99%, 1/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 26087  | 25724  | 25751  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213780745.SRDLC, 15.24%, 1/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 20797  | 20501  | 20565  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213781643.SRDLC, 12.99%, 1/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 11583  | 11422  | 11370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213784499.SRDLC, 11.12%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 11033  | 10888  | 10983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213787010.SRDLC, 7.24%, 1/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 13697  | 13508  | 13643  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213789611.SRDLC, 7.57%, 1/31/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 35070  | 34568  | 35016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213790472.SRDLC, 13.24%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5334  | 5263  | 5271  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213791730.SRDLC, 18.99%, 1/9/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 32996  | 32512  | 32260  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213795416.SRDLC, 12.24%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 15982  | 15770  | 15811  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213795526.SRDLC, 22.49%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 14580  | 14368  | 14147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213798997.SRDLC, 13.74%, 1/24/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 38906  | 38338  | 38624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213803743.SRDLC, 15.74%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 17395  | 17143  | 16953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213816391.SRDLC, 14.24%, 1/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 27026  | 26650  | 26592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213817550.SRDLC, 8.82%, 1/21/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 48400  | 47699  | 48225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213821623.SRDLC, 8.07%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 23801  | 23460  | 23606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213825221.SRDLC, 10.99%, 1/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 20509  | 20218  | 20325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213829962.SRDLC, 18.99%, 1/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 9375  | 9243  | 9071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213831576.SRDLC, 24.24%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 25064  | 24698  | 24413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213835179.SRDLC, 12.99%, 1/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1427  | 1407  | 1414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213836423.SRDLC, 6.49%, 1/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 12193  | 12033  | 12160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213843811.SRDLC, 15.24%, 1/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 20188  | 19896  | 19676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213852378.SRDLC, 10.74%, 1/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 19496  | 19226  | 19254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213853192.SRDLC, 31.89%, 2/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3523  | 3472  | 3381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213861366.SRDLC, 7.49%, 2/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 30369  | 29938  | 30286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213861553.SRDLC, 10.49%, 1/21/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 4994  | 4924  | 4976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213866517.SRDLC, 11.49%, 1/22/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 21654  | 21342  | 21471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213869946.SRDLC, 14.74%, 1/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 15726  | 15502  | 15428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213886954.SRDLC, 20.99%, 2/11/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 24518  | 24159  | 23739  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213898592.SRDLC, 11.49%, 1/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 24840  | 24511  | 24644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213902620.SRDLC, 15.24%, 1/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 14489  | 14280  | 14248  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **107** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 213904128.SRDLC, 24.99%, 1/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | $14130  | $13931  | $13514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213905576.SRDLC, 10.49%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 10439  | 10290  | 10395  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213906299.SRDLC, 18.49%, 1/23/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 12501  | 12317  | 12308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213907315.SRDLC, 10.24%, 1/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 10866  | 10715  | 10777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213908290.SRDLC, 12.50%, 1/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 32203  | 31753  | 31668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213908440.SRDLC, 21.49%, 1/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 2817  | 2777  | 2709  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213910651.SRDLC, 10.49%, 1/27/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 18267  | 18004  | 18125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213912402.SRDLC, 23.99%, 1/23/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 8788  | 8657  | 8570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213913935.SRDLC, 11.24%, 1/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 10682  | 10534  | 10556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213915764.SRDLC, 19.99%, 2/1/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 5779  | 5698  | 5582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213920868.SRDLC, 11.49%, 1/24/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 16015  | 15782  | 15956  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213925883.SRDLC, 10.99%, 1/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 21162  | 20857  | 20869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213927210.SRDLC, 11.44%, 1/27/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9936  | 9793  | 9858  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213929943.SRDLC, 23.49%, 1/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 2743  | 2706  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213931265.SRDLC, 9.74%, 1/31/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9054  | 8928  | 8950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213937786.SRDLC, 11.99%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9296  | 9167  | 9188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213938273.SRDLC, 11.74%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 23756  | 23418  | 23654  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213939105.SRDLC, 17.24%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 11466  | 11302  | 11349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213942177.SRDLC, 15.74%, 2/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 7647  | 7538  | 7567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213943367.SRDLC, 11.24%, 1/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 1774  | 1750  | 1761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213944771.SRDLC, 21.49%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 2862  | 2823  | 2781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213945371.SRDLC, 10.99%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 23737  | 23399  | 23541  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213947687.SRDLC, 14.99%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 6062  | 5978  | 5874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213951092.SRDLC, 14.74%, 2/1/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 29730  | 29334  | 29389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213953272.SRDLC, 20.49%, 1/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 2812  | 2772  | 2710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213955142.SRDLC, 22.49%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 17284  | 17037  | 16700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213958313.SRDLC, 13.99%, 2/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 11485  | 11325  | 11386  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213958723.SRDLC, 23.49%, 1/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 3728  | 3673  | 3552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213958736.SRDLC, 13.99%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1779  | 1756  | 1765  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213960121.SRDLC, 9.74%, 1/27/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 31702  | 31246  | 31459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213961982.SRDLC, 22.99%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4701  | 4635  | 4502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213966703.SRDLC, 23.99%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 18748  | 18477  | 18121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213967001.SRDLC, 9.49%, 1/27/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4425  | 4367  | 4399  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213970018.SRDLC, 8.74%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 5538  | 5464  | 5516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213970925.SRDLC, 10.49%, 1/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 16133  | 15903  | 16066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213971269.SRDLC, 14.74%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4196  | 4137  | 4133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213972258.SRDLC, 30.99%, 1/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 4566  | 4500  | 4364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213973203.SRDLC, 19.99%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 3281  | 3235  | 3160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213973570.SRDLC, 9.49%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 18078  | 17826  | 17969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213977208.SRDLC, 14.24%, 2/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 10504  | 10356  | 10347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213978307.SRDLC, 24.49%, 1/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 5354  | 5277  | 5170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213979062.SRDLC, 9.75%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 7882  | 7773  | 7835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213979204.SRDLC, 10.99%, 2/4/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 48736  | 48031  | 48393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213984890.SRDLC, 11.49%, 1/27/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 10734  | 10585  | 10762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213991689.SRDLC, 8.99%, 2/29/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 13359  | 13168  | 13329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 213996069.SRDLC, 19.49%, 1/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 15175  | 14971  | 14748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214000266.SRDLC, 27.49%, 1/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 13540  | 13359  | 13113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214003369.SRDLC, 23.99%, 1/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 8983  | 8853  | 8680  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214004035.SRDLC, 18.99%, 1/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 4683  | 4617  | 4511  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214004509.SRDLC, 8.24%, 1/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 7406  | 7304  | 7363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214004574.SRDLC, 25.49%, 1/31/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/4/2025 | 24301  | 23948  | 23515  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214008205.SRDLC, 23.99%, 2/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 11534  | 11370  | 11047  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **108** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214008642.SRDLC, 8.32%, 2/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | $24868  | $24510  | $24750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214018671.SRDLC, 24.49%, 1/30/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 6805  | 6706  | 6583  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214019942.SRDLC, 12.49%, 2/11/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 39244  | 38670  | 39035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214020481.SRDLC, 9.99%, 1/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 12326  | 12150  | 12280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214021761.SRDLC, 32.39%, 1/29/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 10719  | 10559  | 10338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214022921.SRDLC, 30.99%, 1/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 946  | 933  | 903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214026091.SRDLC, 9.74%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 38070  | 37537  | 37865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214036881.SRDLC, 6.49%, 1/29/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 7389  | 7286  | 7364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214043908.SRDLC, 18.49%, 1/30/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 19112  | 18839  | 18565  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214044270.SRDLC, 17.24%, 1/29/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 4836  | 4765  | 4725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214044318.SRDLC, 24.99%, 1/29/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 7812  | 7698  | 7559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214054361.SRDLC, 26.49%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 935  | 922  | 909  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214057774.SRDLC, 32.39%, 1/30/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 8038  | 7921  | 7768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214059674.SRDLC, 13.74%, 2/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/5/2025 | 19091  | 18823  | 18713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214071173.SRDLC, 30.99%, 1/30/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 4727  | 4660  | 4518  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214078710.SRDLC, 31.89%, 2/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 9786  | 9643  | 9499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214079210.SRDLC, 10.74%, 2/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3694  | 3644  | 3681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214086410.SRDLC, 18.49%, 1/31/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/4/2025 | 13390  | 13208  | 13105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214089573.SRDLC, 30.99%, 1/31/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/4/2025 | 944  | 931  | 903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214100749.SRDLC, 6.99%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 2857  | 2817  | 2855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214125339.SRDLC, 9.99%, 2/4/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 37014  | 36479  | 36755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214132206.SRDLC, 14.24%, 2/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 47099  | 46425  | 46295  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214143051.SRDLC, 14.24%, 2/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 10026  | 9885  | 9876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214144363.SRDLC, 4.99%, 2/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 19677  | 19414  | 19635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214146608.SRDLC, 11.49%, 2/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 14479  | 14272  | 14364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214151563.SRDLC, 9.99%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 16467  | 16231  | 16339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214156062.SRDLC, 16.24%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 20559  | 20269  | 20255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214157926.SRDLC, 24.99%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 10750  | 10594  | 10416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214160953.SRDLC, 11.49%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 37706  | 37166  | 37425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214165804.SRDLC, 7.24%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 21279  | 20982  | 21246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214167645.SRDLC, 11.49%, 2/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 21451  | 21140  | 21207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214174573.SRDLC, 32.39%, 2/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 14792  | 14574  | 14176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214176988.SRDLC, 13.49%, 2/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1909  | 1882  | 1887  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214178565.SRDLC, 10.49%, 2/6/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 12667  | 12484  | 12583  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214180050.SRDLC, 24.49%, 2/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 14037  | 13834  | 13497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214185820.SRDLC, 11.49%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 8121  | 8004  | 8071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214186313.SRDLC, 17.24%, 2/5/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 15658  | 15430  | 15404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214187491.SRDLC, 6.74%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 2885  | 2846  | 2881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214193858.SRDLC, 25.99%, 2/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 8781  | 8653  | 8454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214195012.SRDLC, 9.00%, 2/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 19880  | 19602  | 19791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214195920.SRDLC, 9.24%, 2/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 12368  | 12195  | 12306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214200280.SRDLC, 11.24%, 2/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 38112  | 37576  | 37918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214203497.SRDLC, 23.49%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 3141  | 3096  | 3055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214203962.SRDLC, 10.99%, 2/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 27858  | 27480  | 27769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214204315.SRDLC, 27.49%, 2/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2807  | 2769  | 2710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214207899.SRDLC, 22.99%, 2/6/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 9329  | 9202  | 9037  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214208962.SRDLC, 28.49%, 2/7/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 13000  | 12807  | 8027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214213204.SRDLC, 11.99%, 2/12/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 9145  | 9021  | 9054  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214233355.SRDLC, 14.74%, 2/7/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 39298  | 38722  | 39004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214233719.SRDLC, 20.99%, 2/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 24518  | 24159  | 23751  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214238955.SRDLC, 12.49%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 6772  | 6675  | 6735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214242434.SRDLC, 20.49%, 2/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 9804  | 9661  | 9603  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **109** |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214243131.SRDLC, 12.99%, 2/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | $4198  | $4139  | $4134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214245711.SRDLC, 26.49%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 9626  | 9488  | 9263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214245781.SRDLC, 17.49%, 2/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8613  | 8491  | 8459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214248340.SRDLC, 28.99%, 2/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14052  | 13858  | 13564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214248897.SRDLC, 7.99%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 47524  | 46854  | 47319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214250766.SRDLC, 12.99%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 9262  | 9135  | 9069  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214254305.SRDLC, 21.74%, 2/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 29229  | 28790  | 28524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214257004.SRDLC, 17.99%, 2/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2025 | 37185  | 36670  | 36855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214258951.SRDLC, 15.99%, 2/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2869  | 2829  | 2805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214260261.SRDLC, 18.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 16745  | 16515  | 16312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214261676.SRDLC, 17.24%, 2/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 18300  | 18033  | 17912  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214262688.SRDLC, 8.24%, 2/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 15189  | 14976  | 15114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214266361.SRDLC, 19.99%, 2/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 12720  | 12533  | 12351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214266519.SRDLC, 21.49%, 2/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 15843  | 15624  | 15435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214267099.SRDLC, 21.49%, 2/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 21111  | 20811  | 20349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214269467.SRDLC, 7.74%, 2/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 3690  | 3640  | 3677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214275681.SRDLC, 24.49%, 2/11/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 16703  | 16458  | 16103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214275783.SRDLC, 8.32%, 2/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14594  | 14383  | 14502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214277237.SRDLC, 12.74%, 2/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 12735  | 12550  | 12585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214279186.SRDLC, 21.25%, 2/25/2031 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 27209  | 26808  | 27012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214280381.SRDLC, 23.49%, 2/28/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 39601  | 39007  | 38763  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214286283.SRDLC, 12.49%, 2/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5724  | 5644  | 5672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214292495.SRDLC, 14.25%, 2/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 32708  | 32238  | 32527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214296884.SRDLC, 7.74%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 10147  | 10009  | 10116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214298262.SRDLC, 14.99%, 1/31/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 3059  | 3016  | 2973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214298273.SRDLC, 22.49%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 6722  | 6626  | 6495  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214304440.SRDLC, 6.24%, 2/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 6179  | 6092  | 6172  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214309474.SRDLC, 16.24%, 2/20/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 18600  | 18329  | 18462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214315517.SRDLC, 11.99%, 2/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 23409  | 23067  | 23296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214326122.SRDLC, 14.49%, 2/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 11626  | 11458  | 11552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214326252.SRDLC, 18.49%, 2/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 9577  | 9441  | 9444  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214329539.SRDLC, 26.49%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 5776  | 5693  | 5551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214332862.SRDLC, 26.49%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 9352  | 9223  | 9084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214336503.SRDLC, 7.74%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 1845  | 1820  | 1839  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214337041.SRDLC, 13.75%, 2/14/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 19190  | 18913  | 18910  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214339871.SRDLC, 12.99%, 2/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 14310  | 14107  | 14185  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214344044.SRDLC, 8.99%, 2/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 23590  | 23258  | 23478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214346109.SRDLC, 4.99%, 3/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 9603  | 9472  | 9589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214350262.SRDLC, 31.89%, 2/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 7138  | 7040  | 6993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214350803.SRDLC, 23.99%, 2/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 12704  | 12520  | 12358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214353515.SRDLC, 20.99%, 2/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 8728  | 8600  | 8468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214354356.SRDLC, 32.39%, 2/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 14997  | 14789  | 14681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214354497.SRDLC, 20.99%, 2/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 13240  | 13046  | 12845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214355038.SRDLC, 18.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 14370  | 14166  | 13882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214355851.SRDLC, 19.49%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 19264  | 18999  | 18752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214356553.SRDLC, 28.99%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 2246  | 2215  | 2174  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214357455.SRDLC, 11.99%, 2/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 7955  | 7842  | 7853  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214358332.SRDLC, 19.99%, 2/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 20388  | 20089  | 19774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214359946.SRDLC, 23.99%, 2/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 9733  | 9591  | 9410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214360653.SRDLC, 19.49%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 9306  | 9178  | 9059  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214360707.SRDLC, 20.99%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 4796  | 4728  | 4704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214361648.SRDLC, 18.99%, 2/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 22531  | 22201  | 21855  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **110** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214361732.SRDLC, 30.99%, 2/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | $9670  | $9531  | $9344  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214361939.SRDLC, 19.99%, 2/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 24504  | 24145  | 23767  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214362202.SRDLC, 30.99%, 1/31/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 5622  | 5538  | 5436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214363024.SRDLC, 18.99%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 1395  | 1376  | 1358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214363639.SRDLC, 17.99%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 2226  | 2195  | 2196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214363872.SRDLC, 31.89%, 2/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 4893  | 4822  | 4750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214364354.SRDLC, 22.49%, 2/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 5842  | 5757  | 5689  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214364368.SRDLC, 22.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 11526  | 11362  | 11080  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214364885.SRDLC, 22.99%, 2/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 2332  | 2300  | 2265  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214365974.SRDLC, 8.49%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 951  | 937  | 947  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214366307.SRDLC, 14.99%, 2/13/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 2445  | 2408  | 1442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214367727.SRDLC, 20.99%, 2/13/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 1176  | 1159  | 1137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214367732.SRDLC, 30.99%, 2/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 1627  | 1603  | 1570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214376667.SRDLC, 28.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 2810  | 2771  | 2721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214377452.SRDLC, 22.49%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 12483  | 12305  | 12061  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214377660.SRDLC, 21.99%, 2/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 12756  | 12569  | 12616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214378597.SRDLC, 29.99%, 2/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 8799  | 8671  | 8499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214379605.SRDLC, 5.47%, 3/5/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 32656  | 32201  | 32582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214380420.SRDLC, 10.99%, 3/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 20713  | 20414  | 20645  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214381587.SRDLC, 29.49%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 7715  | 7604  | 7459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214383430.SRDLC, 20.99%, 2/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 3706  | 3653  | 3585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214385569.SRDLC, 15.24%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 32956  | 32480  | 32701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214386240.SRDLC, 18.99%, 2/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 1861  | 1835  | 1812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214388027.SRDLC, 22.49%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 19209  | 18933  | 18718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214391883.SRDLC, 27.49%, 2/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 10824  | 10664  | 10443  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214394526.SRDLC, 29.49%, 2/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 6084  | 5993  | 5821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214394838.SRDLC, 18.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 930  | 918  | 906  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214398546.SRDLC, 26.49%, 2/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 18687  | 18411  | 18073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214399038.SRDLC, 22.49%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 7790  | 7676  | 7592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214399785.SRDLC, 7.00%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 18046  | 17791  | 18003  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214404903.SRDLC, 14.99%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 13375  | 13185  | 13006  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214405777.SRDLC, 16.24%, 2/26/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 29966  | 29524  | 29807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214409478.SRDLC, 9.74%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 10622  | 10469  | 10556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214410118.SRDLC, 32.39%, 2/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 14792  | 14573  | 14265  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214411979.SRDLC, 14.99%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 6210  | 6122  | 6168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214412488.SRDLC, 7.24%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 28023  | 27628  | 27957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214412857.SRDLC, 28.49%, 2/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 19492  | 19204  | 18804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214416337.SRDLC, 10.74%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 15239  | 15023  | 15175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214417488.SRDLC, 13.99%, 2/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 22245  | 21940  | 21792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214417584.SRDLC, 8.24%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 19508  | 19228  | 19418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214419541.SRDLC, 28.49%, 2/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 9638  | 9499  | 9235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214419949.SRDLC, 21.99%, 2/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 15662  | 15446  | 15255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214422367.SRDLC, 18.49%, 2/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 21699  | 21400  | 21273  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214425237.SRDLC, 11.24%, 2/12/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 31061  | 30605  | 31012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214425331.SRDLC, 25.99%, 2/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 24059  | 23713  | 23150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214430915.SRDLC, 25.99%, 2/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 10732  | 10575  | 10392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214434526.SRDLC, 13.49%, 2/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 9294  | 9158  | 9244  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214436046.SRDLC, 24.99%, 2/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 5251  | 5175  | 5052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214438288.SRDLC, 12.99%, 2/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 13829  | 13634  | 13719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214439082.SRDLC, 7.99%, 3/8/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 11898  | 11725  | 11860  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214442245.SRDLC, 27.99%, 2/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 5905  | 5818  | 5701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214443732.SRDLC, 29.49%, 2/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 11177  | 11017  | 10830  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **111** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214443804.SRDLC, 23.49%, 2/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | $10569  | $10418  | $10176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214444425.SRDLC, 12.99%, 2/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 20324  | 20031  | 20211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214456180.SRDLC, 6.24%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 47460  | 46789  | 47359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214458637.SRDLC, 15.74%, 2/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 9559  | 9423  | 9412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214459809.SRDLC, 12.99%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 17515  | 17266  | 17313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214466685.SRDLC, 6.82%, 2/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 20672  | 20375  | 20648  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214475552.SRDLC, 12.24%, 2/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 13930  | 13728  | 13854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214482189.SRDLC, 14.24%, 2/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 2422  | 2387  | 2405  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214483440.SRDLC, 11.49%, 2/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2025 | 33839  | 33350  | 33647  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214490995.SRDLC, 14.24%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 28646  | 28238  | 28334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214491672.SRDLC, 6.49%, 2/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 18988  | 18719  | 18977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214515025.SRDLC, 9.99%, 2/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2025 | 6761  | 6663  | 6746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214519597.SRDLC, 12.99%, 2/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 15485  | 15261  | 15399  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214523865.SRDLC, 9.74%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 12434  | 12263  | 12402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214525013.SRDLC, 11.49%, 2/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 38673  | 38113  | 38459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214528488.SRDLC, 4.99%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 3260  | 3216  | 3257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214535044.SRDLC, 6.74%, 2/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 7374  | 7272  | 7363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214542641.SRDLC, 17.49%, 2/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 9707  | 9566  | 9641  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214545734.SRDLC, 6.67%, 2/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 27346  | 26958  | 27291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214562156.SRDLC, 10.74%, 3/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 30266  | 29832  | 30000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214563995.SRDLC, 23.49%, 3/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 9806  | 9664  | 9456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214574310.SRDLC, 22.24%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 9908  | 9761  | 9758  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214577603.SRDLC, 7.24%, 3/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 25961  | 25582  | 25902  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214601156.SRDLC, 14.24%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1760  | 1734  | 1736  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214612023.SRDLC, 12.74%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3141  | 3094  | 3177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214613518.SRDLC, 9.74%, 2/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2025 | 9517  | 9382  | 9483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214622402.SRDLC, 17.24%, 2/26/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 39145  | 38570  | 38490  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214623496.SRDLC, 13.99%, 2/28/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 5567  | 5488  | 5464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214623655.SRDLC, 19.99%, 3/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 8885  | 8768  | 8661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214627560.SRDLC, 7.74%, 3/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 39009  | 38448  | 38834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214645236.SRDLC, 7.00%, 2/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 9023  | 8895  | 9003  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214653489.SRDLC, 21.49%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3453  | 3402  | 3368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214678805.SRDLC, 9.49%, 3/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 7359  | 7254  | 7332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214689505.SRDLC, 11.24%, 3/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 4938  | 4865  | 4911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214690170.SRDLC, 15.99%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2893  | 2852  | 2834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214700094.SRDLC, 8.24%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 13656  | 13458  | 13602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214709090.SRDLC, 22.49%, 3/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 24507  | 24152  | 23719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214716149.SRDLC, 23.99%, 3/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 10470  | 10319  | 10109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214746996.SRDLC, 30.99%, 3/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 1188  | 1170  | 1158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214768420.SRDLC, 15.24%, 3/5/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 15326  | 15101  | 15074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214768954.SRDLC, 7.00%, 3/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 9748  | 9608  | 9716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214776290.SRDLC, 29.49%, 3/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 4912  | 4840  | 4780  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214776575.SRDLC, 25.99%, 3/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 10711  | 10552  | 10374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214780454.SRDLC, 11.49%, 3/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 19554  | 19265  | 19465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214789264.SRDLC, 10.74%, 3/5/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 4882  | 4812  | 4857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214794832.SRDLC, 13.99%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 34212  | 33718  | 33747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214801876.SRDLC, 16.99%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 29284  | 28850  | 28998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214804232.SRDLC, 10.49%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1952  | 1924  | 1943  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214804523.SRDLC, 13.24%, 3/6/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 7788  | 7675  | 7702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214806140.SRDLC, 31.99%, 3/22/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 15000  | 14777  | 14574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214809762.SRDLC, 29.49%, 3/15/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 13712  | 13513  | 13333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214810770.SRDLC, 10.24%, 3/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 39322  | 38749  | 39170  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **112** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214816930.SRDLC, 29.49%, 3/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | $14736  | $14521  | $14332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214818924.SRDLC, 14.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 24446  | 24090  | 23843  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214820200.SRDLC, 30.99%, 3/6/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 17761  | 17500  | 17050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214825761.SRDLC, 22.49%, 3/6/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 19675  | 19386  | 19123  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214838046.SRDLC, 15.24%, 3/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 37574  | 37020  | 37373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214841209.SRDLC, 29.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4163  | 4101  | 4015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214842925.SRDLC, 23.99%, 3/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 12359  | 12177  | 12073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214843091.SRDLC, 21.49%, 3/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 2657  | 2619  | 2572  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214844844.SRDLC, 32.39%, 3/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 14497  | 14282  | 13915  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214849844.SRDLC, 10.99%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 17700  | 17440  | 17608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214862123.SRDLC, 29.49%, 3/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 27791  | 27377  | 27312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214862539.SRDLC, 27.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 9684  | 9546  | 9437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214862707.SRDLC, 10.74%, 3/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 17772  | 17511  | 17667  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214864050.SRDLC, 10.99%, 3/10/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 24753  | 24388  | 24670  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214864130.SRDLC, 10.25%, 3/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 9192  | 9058  | 9135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214865836.SRDLC, 32.39%, 3/10/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 14847  | 14627  | 14277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214867297.SRDLC, 32.39%, 3/11/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 12911  | 12719  | 12425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214872734.SRDLC, 27.49%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 6259  | 6170  | 6056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214874341.SRDLC, 26.49%, 3/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5902  | 5815  | 5702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214880014.SRDLC, 22.99%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 1765  | 1739  | 1707  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214880193.SRDLC, 7.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2404  | 2370  | 2393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214883819.SRDLC, 10.24%, 3/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 34165  | 33673  | 33894  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214885389.SRDLC, 28.99%, 3/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 19375  | 19099  | 18748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214886089.SRDLC, 22.49%, 3/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 11725  | 11555  | 11354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214886249.SRDLC, 11.24%, 3/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 37358  | 36811  | 37133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214886338.SRDLC, 22.99%, 3/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1275  | 1256  | 1230  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214886753.SRDLC, 21.49%, 3/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 4915  | 4843  | 4812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214891962.SRDLC, 25.99%, 3/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 19979  | 19701  | 19547  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214892038.SRDLC, 32.39%, 3/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 20000  | 19703  | 19422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214892069.SRDLC, 9.24%, 3/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 24385  | 24033  | 24279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214893140.SRDLC, 10.99%, 3/22/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 13814  | 13610  | 13790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214893296.SRDLC, 26.49%, 3/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 8300  | 8178  | 8022  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214894167.SRDLC, 25.99%, 3/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 7166  | 7060  | 7000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214894506.SRDLC, 11.99%, 3/20/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 11844  | 11671  | 11808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214895494.SRDLC, 27.49%, 3/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 1178  | 1161  | 1134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214902054.SRDLC, 32.39%, 3/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 14897  | 14676  | 14346  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214904497.SRDLC, 26.49%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9815  | 9672  | 9491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214905149.SRDLC, 7.99%, 3/22/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 33000  | 32524  | 32934  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214906743.SRDLC, 13.24%, 3/20/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 31824  | 31355  | 31742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214908057.SRDLC, 28.49%, 3/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 9821  | 9678  | 9426  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214909327.SRDLC, 10.49%, 3/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 21629  | 21311  | 21569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214912024.SRDLC, 7.24%, 3/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 38904  | 38344  | 38854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214912506.SRDLC, 26.99%, 3/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4123  | 4063  | 3960  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214913562.SRDLC, 21.49%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 14494  | 14288  | 14117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214916462.SRDLC, 32.39%, 3/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 9750  | 9605  | 9497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214916916.SRDLC, 14.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4889  | 4818  | 4767  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214917602.SRDLC, 27.49%, 3/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 5930  | 5843  | 5724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214919167.SRDLC, 5.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19491  | 19209  | 19443  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214920162.SRDLC, 23.99%, 3/11/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4956  | 4883  | 4793  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214920168.SRDLC, 21.49%, 3/11/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 7840  | 7726  | 7595  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214920909.SRDLC, 24.49%, 3/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 3456  | 3405  | 3349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214921487.SRDLC, 22.99%, 3/11/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 6961  | 6862  | 6765  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **113** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 214926596.SRDLC, 11.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | $18067  | $17805  | $17942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214938903.SRDLC, 29.49%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 7940  | 7822  | 7675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214941586.SRDLC, 15.99%, 3/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 15169  | 14947  | 15053  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214943005.SRDLC, 18.99%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19798  | 19505  | 19262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214944395.SRDLC, 19.24%, 3/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 9900  | 9753  | 9746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214945970.SRDLC, 21.49%, 3/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 9800  | 9657  | 9497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214950076.SRDLC, 15.49%, 3/13/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 9848  | 9704  | 9745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214951160.SRDLC, 29.99%, 3/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 9000  | 8867  | 8684  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214952170.SRDLC, 29.49%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7859  | 7744  | 7666  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214952664.SRDLC, 31.49%, 3/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 10923  | 10760  | 10548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214954111.SRDLC, 8.99%, 3/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 23317  | 22978  | 23231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214955111.SRDLC, 23.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 4903  | 4831  | 4801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214955925.SRDLC, 17.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 8686  | 8562  | 8507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214957342.SRDLC, 13.99%, 3/3/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5174  | 5101  | 5068  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214958026.SRDLC, 32.39%, 3/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 6952  | 6849  | 6695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214959332.SRDLC, 28.49%, 3/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 20640  | 20333  | 19926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214959465.SRDLC, 19.74%, 3/12/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 10749  | 10591  | 10594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214959685.SRDLC, 12.49%, 3/12/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 8793  | 8665  | 8724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214959763.SRDLC, 19.99%, 3/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 27725  | 27315  | 27240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214961642.SRDLC, 28.99%, 3/13/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 9924  | 9777  | 9580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214962234.SRDLC, 25.49%, 3/12/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 9916  | 9769  | 9592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214962533.SRDLC, 24.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 12615  | 12431  | 12218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214965547.SRDLC, 16.99%, 3/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 5209  | 5135  | 5101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214965732.SRDLC, 28.99%, 3/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 11928  | 11751  | 11617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214967856.SRDLC, 24.49%, 4/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/21/2025 | 18000  | 17732  | 17633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214969198.SRDLC, 15.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 13694  | 13495  | 13352  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214969334.SRDLC, 23.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 967  | 953  | 941  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214969747.SRDLC, 10.74%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 48817  | 48109  | 48619  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214972566.SRDLC, 28.49%, 3/17/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 6000  | 5911  | 5852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214972805.SRDLC, 30.49%, 3/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7787  | 7671  | 7519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214973713.SRDLC, 20.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2547  | 2510  | 2473  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214973769.SRDLC, 17.99%, 3/13/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 5790  | 5708  | 5669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214978908.SRDLC, 28.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7750  | 7639  | 7519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214978920.SRDLC, 24.99%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19830  | 19535  | 19228  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214981281.SRDLC, 18.99%, 3/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 14737  | 14519  | 14332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214982352.SRDLC, 17.99%, 3/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 2895  | 2854  | 2835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214983348.SRDLC, 31.89%, 3/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9455  | 9315  | 9144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214984244.SRDLC, 32.39%, 3/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 6853  | 6751  | 6617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214989910.SRDLC, 19.49%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4790  | 4722  | 4672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214990283.SRDLC, 30.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9828  | 9684  | 9470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214990480.SRDLC, 21.49%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5315  | 5239  | 5184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214991259.SRDLC, 29.49%, 3/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5791  | 5706  | 5576  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214993123.SRDLC, 23.99%, 3/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 23538  | 23195  | 22768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214994314.SRDLC, 10.34%, 3/13/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 6052  | 5965  | 6027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214995661.SRDLC, 14.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5867  | 5782  | 5721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214996225.SRDLC, 17.24%, 3/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9894  | 9748  | 9761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214997114.SRDLC, 14.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 24446  | 24090  | 23837  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214997908.SRDLC, 12.99%, 3/25/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 20282  | 19993  | 19942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214998126.SRDLC, 6.57%, 3/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 20616  | 20315  | 20572  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214998632.SRDLC, 12.74%, 3/14/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 14860  | 14640  | 14787  |
| &nbsp;&nbsp;&nbsp;&nbsp; 214998718.SRDLC, 30.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2948  | 2905  | 2841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215001860.SRDLC, 32.39%, 3/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 15000  | 14777  | 14364  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| **114** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 215003562.SRDLC, 21.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | $6860  | $6760  | $6660  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215005389.SRDLC, 32.39%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 7945  | 7827  | 7677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215005670.SRDLC, 26.49%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19837  | 19542  | 19232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215006675.SRDLC, 27.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9327  | 9191  | 8991  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215006981.SRDLC, 26.49%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14878  | 14657  | 14424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215007504.SRDLC, 32.39%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 10905  | 10742  | 10536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215008702.SRDLC, 18.99%, 3/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4856  | 4788  | 4766  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215010210.SRDLC, 23.99%, 3/17/2029 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6574  | 6476  | 6428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215012017.SRDLC, 14.99%, 3/17/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14555  | 14344  | 14212  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215012776.SRDLC, 20.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2939  | 2897  | 2854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215013375.SRDLC, 24.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 12752  | 12565  | 12347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215013395.SRDLC, 22.49%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4737  | 4668  | 4618  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215014544.SRDLC, 11.24%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 15306  | 15081  | 15227  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215015742.SRDLC, 15.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14673  | 14459  | 14306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215015755.SRDLC, 10.49%, 3/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 32444  | 31966  | 32406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215016518.SRDLC, 23.99%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14620  | 14404  | 14176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215016838.SRDLC, 32.39%, 3/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 4966  | 4892  | 4802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215017730.SRDLC, 28.99%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 7910  | 7793  | 7658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215018575.SRDLC, 22.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4901  | 4830  | 4758  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215019611.SRDLC, 31.49%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 11320  | 11151  | 10939  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215020024.SRDLC, 24.99%, 3/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9600  | 9458  | 9268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215020161.SRDLC, 17.24%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 34628  | 34116  | 34176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215020370.SRDLC, 32.39%, 3/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 11620  | 11447  | 11228  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215021203.SRDLC, 23.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2373  | 2338  | 2372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215022029.SRDLC, 28.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 13750  | 13548  | 13253  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215022845.SRDLC, 30.99%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 10981  | 10818  | 10628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215023503.SRDLC, 31.89%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 10686  | 10528  | 10342  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215023769.SRDLC, 30.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3931  | 3874  | 3788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215025231.SRDLC, 24.99%, 3/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2329  | 2295  | 2281  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215027030.SRDLC, 30.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 14742  | 14526  | 14214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215028857.SRDLC, 28.99%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2809  | 2769  | 2727  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215029746.SRDLC, 22.99%, 3/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1054  | 1039  | 1025  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215029777.SRDLC, 24.99%, 3/17/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19753  | 19462  | 19159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215030341.SRDLC, 12.99%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4335  | 4273  | 4247  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215030645.SRDLC, 26.99%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9817  | 9673  | 9464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215032254.SRDLC, 29.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 12771  | 12584  | 12316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215032465.SRDLC, 20.49%, 4/1/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 36125  | 35589  | 35647  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215033800.SRDLC, 18.49%, 3/15/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 14764  | 14546  | 14391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215036532.SRDLC, 28.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 6875  | 6774  | 6630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215040309.SRDLC, 32.39%, 4/2/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2025 | 11000  | 10836  | 10628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215041882.SRDLC, 24.99%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 4938  | 4865  | 4792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215043453.SRDLC, 28.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3875  | 3819  | 3763  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215044633.SRDLC, 21.49%, 3/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 4843  | 4774  | 4753  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215046146.SRDLC, 5.99%, 3/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 15593  | 15366  | 15559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215046834.SRDLC, 25.99%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 14226  | 14016  | 13804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215046852.SRDLC, 27.49%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 24709  | 24344  | 23941  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215049804.SRDLC, 26.49%, 3/18/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 4952  | 4879  | 4846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215049971.SRDLC, 13.99%, 3/22/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 9640  | 9503  | 9477  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215050087.SRDLC, 23.99%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 13330  | 13133  | 12937  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215050908.SRDLC, 19.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 5387  | 5309  | 5234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215051399.SRDLC, 28.99%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 9688  | 9548  | 9408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215051416.SRDLC, 10.49%, 3/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6840  | 6741  | 6824  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **115** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 215051825.SRDLC, 32.39%, 3/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | $6456  | $6359  | $6242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215052084.SRDLC, 8.24%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 16582  | 16342  | 16520  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215052186.SRDLC, 20.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 12550  | 12370  | 12248  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215054013.SRDLC, 20.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 10778  | 10621  | 10469  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215054900.SRDLC, 25.99%, 4/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 18000  | 17731  | 17528  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215055399.SRDLC, 19.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 10622  | 10470  | 10365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215056068.SRDLC, 29.49%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 9493  | 9353  | 9196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215060676.SRDLC, 14.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 17601  | 17345  | 17167  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215060686.SRDLC, 28.49%, 3/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 12900  | 12708  | 12479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215061718.SRDLC, 20.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 11756  | 11584  | 11419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215063836.SRDLC, 5.79%, 3/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5187  | 5114  | 5177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215063854.SRDLC, 21.49%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 8624  | 8498  | 8376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215064273.SRDLC, 25.99%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 10867  | 10707  | 10545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215068439.SRDLC, 29.99%, 3/18/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 15856  | 15620  | 15335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215068765.SRDLC, 21.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3215  | 3169  | 3137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215070317.SRDLC, 26.99%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 2945  | 2902  | 2841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215071836.SRDLC, 22.49%, 3/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 9183  | 9051  | 8959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215074652.SRDLC, 14.99%, 3/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2892  | 2850  | 2875  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215084485.SRDLC, 14.74%, 3/26/2031 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 18240  | 17968  | 18165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215089498.SRDLC, 15.24%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 18787  | 18509  | 18556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215089586.SRDLC, 9.74%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 7027  | 6925  | 7000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215090365.SRDLC, 8.24%, 3/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 6596  | 6500  | 6571  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215091471.SRDLC, 14.99%, 3/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 978  | 964  | 968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215092099.SRDLC, 9.74%, 3/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 15726  | 15496  | 15644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215094011.SRDLC, 8.74%, 3/27/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 12798  | 12611  | 12781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215096966.SRDLC, 10.74%, 3/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 13193  | 13001  | 13164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215097311.SRDLC, 20.99%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 29596  | 29160  | 29454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215097682.SRDLC, 8.99%, 3/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 17172  | 16923  | 17108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215100003.SRDLC, 13.24%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 15745  | 15514  | 15661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215103177.SRDLC, 21.49%, 3/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 24914  | 24543  | 24574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215103730.SRDLC, 10.74%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 42455  | 41829  | 42134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215104030.SRDLC, 13.49%, 3/19/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 6263  | 6173  | 6231  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215104293.SRDLC, 16.24%, 3/19/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3913  | 3856  | 3879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215105035.SRDLC, 14.24%, 3/19/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 19769  | 19477  | 19582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215105135.SRDLC, 7.57%, 3/19/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 39284  | 38709  | 39168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215107730.SRDLC, 31.89%, 4/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 10000  | 9851  | 9702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215113633.SRDLC, 32.39%, 3/21/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 14401  | 14186  | 13971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215115742.SRDLC, 19.49%, 3/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 9793  | 9650  | 9678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215116902.SRDLC, 8.99%, 3/20/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 25271  | 24903  | 25182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215142719.SRDLC, 28.99%, 4/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 24000  | 23642  | 23274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215155702.SRDLC, 10.24%, 3/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 39046  | 38477  | 38817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215168551.SRDLC, 13.99%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 7000  | 6896  | 6883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215170545.SRDLC, 10.49%, 3/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 17572  | 17316  | 17512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215194472.SRDLC, 13.49%, 3/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 8307  | 8186  | 8258  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215205018.SRDLC, 11.24%, 3/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 19553  | 19263  | 19468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215206393.SRDLC, 11.99%, 3/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 39510  | 38926  | 39242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215212828.SRDLC, 10.99%, 3/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 32585  | 32103  | 32441  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215213146.SRDLC, 13.74%, 3/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 39370  | 38790  | 39041  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215215270.SRDLC, 7.57%, 3/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 16205  | 15967  | 16162  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215232271.SRDLC, 12.79%, 3/26/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 7817  | 7702  | 7773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215236299.SRDLC, 7.00%, 3/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 11699  | 11529  | 11674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215243503.SRDLC, 18.49%, 4/1/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2025 | 6400  | 6307  | 6273  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **116** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 215263140.SRDLC, 27.49%, 4/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | $2400  | $2364  | $2340  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215265357.SRDLC, 13.99%, 3/26/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 5906  | 5819  | 5880  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215269547.SRDLC, 25.99%, 3/28/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2025 | 11855  | 11679  | 11575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215278526.SRDLC, 12.99%, 4/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 5000  | 4927  | 4911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215284725.SRDLC, 25.49%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2025 | 3900  | 3842  | 3820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215286200.SRDLC, 25.99%, 4/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7000  | 6896  | 6809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215353662.SRDLC, 10.74%, 3/28/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2025 | 19747  | 19453  | 19676  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215371722.SRDLC, 24.24%, 3/31/2030 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/2/2025 | 39625  | 39031  | 39155  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215398828.SRDLC, 29.99%, 4/16/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2025 | 25000  | 24626  | 24388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215405112.SRDLC, 24.99%, 4/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1000  | 985  | 974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215406828.SRDLC, 22.49%, 4/15/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 5500  | 5419  | 5389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215407811.SRDLC, 22.49%, 4/8/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3350  | 3301  | 3279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215411978.SRDLC, 26.99%, 4/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10000  | 9852  | 9717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215414520.SRDLC, 7.99%, 3/31/2027 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/2/2025 | 7209  | 7105  | 7192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215427062.SRDLC, 10.99%, 4/4/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6000  | 5913  | 5889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215429543.SRDLC, 27.49%, 4/3/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 15000  | 14777  | 14538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215431207.SRDLC, 28.99%, 4/4/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 11000  | 10836  | 10667  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215444677.SRDLC, 14.99%, 4/2/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2025 | 8150  | 8030  | 7968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215448186.SRDLC, 32.39%, 4/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 11500  | 11328  | 11149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215448621.SRDLC, 21.49%, 4/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 5500  | 5419  | 5365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215454556.SRDLC, 20.99%, 4/3/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1800  | 1773  | 1756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215455894.SRDLC, 26.49%, 4/3/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 14000  | 13791  | 13619  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215472192.SRDLC, 24.49%, 4/4/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9425  | 9286  | 9179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215472440.SRDLC, 24.99%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 6000  | 5911  | 5860  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215479965.SRDLC, 23.99%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 4000  | 3941  | 3908  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215486949.SRDLC, 28.49%, 4/7/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 12000  | 11821  | 11638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215495077.SRDLC, 21.49%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3000  | 2956  | 2936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215495208.SRDLC, 24.99%, 4/7/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 10000  | 9851  | 9734  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215497951.SRDLC, 20.99%, 4/8/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10000  | 9851  | 9771  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215510665.SRDLC, 11.99%, 4/7/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1440  | 1419  | 1415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215516977.SRDLC, 29.99%, 3/25/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 6806  | 6705  | 6674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215522497.SRDLC, 23.49%, 4/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2025 | 20000  | 19702  | 19527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215527767.SRDLC, 30.99%, 4/9/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 20000  | 19701  | 19418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215528873.SRDLC, 24.49%, 4/7/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 10000  | 9852  | 9745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215555509.SRDLC, 14.99%, 4/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 25000  | 24629  | 24517  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215562293.SRDLC, 30.99%, 4/8/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 9000  | 8866  | 8742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215565817.SRDLC, 28.49%, 4/14/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 10000  | 9850  | 9743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215572399.SRDLC, 19.49%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 9000  | 8866  | 8832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215576256.SRDLC, 25.49%, 4/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 12000  | 11821  | 11762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215577085.SRDLC, 26.99%, 4/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2025 | 25000  | 24627  | 24388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215594160.SRDLC, 27.49%, 4/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 6500  | 6404  | 6319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215595722.SRDLC, 20.49%, 4/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 6000  | 5911  | 5862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215599208.SRDLC, 31.89%, 4/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 15000  | 14776  | 14571  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215602457.SRDLC, 13.99%, 4/21/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 4000  | 3941  | 3933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215607949.SRDLC, 22.99%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 2400  | 2364  | 2344  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215614718.SRDLC, 25.49%, 4/9/2028 (a)(n)(r) | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 4653  | 4584  | 4551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215615442.SRDLC, 25.49%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 11000  | 10837  | 10741  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215618762.SRDLC, 28.99%, 4/9/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 4000  | 3941  | 3900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215618786.SRDLC, 22.99%, 4/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 10000  | 9852  | 9755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215619495.SRDLC, 30.99%, 4/9/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 2400  | 2364  | 2333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215620033.SRDLC, 25.99%, 4/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 9000  | 8866  | 8769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215620259.SRDLC, 24.49%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 22500  | 22166  | 21973  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **117** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 215621317.SRDLC, 25.99%, 4/9/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | $8400  | $8275  | $8188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215622279.SRDLC, 22.49%, 4/9/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2025 | 24000  | 23643  | 23465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215627056.SRDLC, 21.49%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 9600  | 9458  | 9388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215635089.SRDLC, 17.49%, 4/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 6500  | 6403  | 6370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215641184.SRDLC, 26.49%, 4/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2025 | 20000  | 19701  | 19549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215650477.SRDLC, 23.99%, 4/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 3000  | 2955  | 2927  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215665074.SRDLC, 25.49%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 13000  | 12807  | 12694  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215670875.SRDLC, 20.99%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 1800  | 1773  | 1760  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215671582.SRDLC, 23.99%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 2000  | 1970  | 1953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215689992.SRDLC, 21.49%, 4/10/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 10000  | 9852  | 9779  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215690065.SRDLC, 25.49%, 4/10/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/14/2025 | 2000  | 1971  | 1957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215691157.SRDLC, 17.49%, 4/16/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2025 | 25000  | 24627  | 24514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215691751.SRDLC, 26.49%, 4/11/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2025 | 7800  | 7684  | 7614  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215706222.SRDLC, 28.99%, 4/26/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2025 | 19500  | 19212  | 19051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215711748.SRDLC, 29.99%, 4/16/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2025 | 24000  | 23641  | 23413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215714134.SRDLC, 12.99%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2025 | 8000  | 7881  | 7866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215717340.SRDLC, 13.99%, 4/18/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2025 | 3000  | 2955  | 2949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215734274.SRDLC, 15.99%, 4/17/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/21/2025 | 6000  | 5911  | 5891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215735163.SRDLC, 19.99%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2025 | 6500  | 6403  | 6367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215739221.SRDLC, 20.99%, 4/22/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2025 | 25000  | 24626  | 24545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215740774.SRDLC, 31.49%, 4/15/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2025 | 20000  | 19701  | 19495  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215751828.SRDLC, 14.99%, 4/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 7000  | 6896  | 6865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215753200.SRDLC, 22.49%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 10000  | 9851  | 9812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215754538.SRDLC, 30.99%, 4/14/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 12000  | 11821  | 11699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215757024.SRDLC, 17.49%, 4/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 20400  | 20096  | 19992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215758173.SRDLC, 22.99%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 1500  | 1478  | 1469  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215761636.SRDLC, 21.99%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 3500  | 3448  | 3431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215763554.SRDLC, 21.49%, 4/20/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 4000  | 3941  | 3922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215767321.SRDLC, 21.49%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 11000  | 10838  | 10784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215768395.SRDLC, 28.99%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 5000  | 4926  | 4886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215771320.SRDLC, 25.99%, 4/14/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 18000  | 17731  | 17581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215775210.SRDLC, 17.99%, 4/14/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/16/2025 | 4000  | 3941  | 3929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215780420.SRDLC, 23.99%, 4/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 10000  | 9850  | 9803  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215791974.SRDLC, 30.99%, 4/16/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2025 | 3600  | 3546  | 3514  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215794395.SRDLC, 26.99%, 4/23/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2025 | 25000  | 24626  | 24510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215802518.SRDLC, 15.99%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 20800  | 20490  | 20433  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215812822.SRDLC, 21.49%, 4/17/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/21/2025 | 3000  | 2955  | 2945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215828649.SRDLC, 25.49%, 4/18/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2025 | 9600  | 9456  | 9404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215829947.SRDLC, 24.99%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 17000  | 16746  | 16669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215831152.SRDLC, 24.99%, 5/5/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 25000  | 24626  | 24507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215832959.SRDLC, 32.39%, 4/17/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/21/2025 | 10400  | 10244  | 10164  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215849077.SRDLC, 26.99%, 4/22/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2025 | 6000  | 5910  | 5879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215851523.SRDLC, 25.99%, 4/18/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2025 | 20900  | 20588  | 20481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215902056.SRDLC, 32.39%, 4/25/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2025 | 14000  | 13790  | 13756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215912336.SRDLC, 30.99%, 4/21/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 14500  | 14283  | 14194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215921166.SRDLC, 23.49%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 16500  | 16254  | 16180  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215925906.SRDLC, 19.99%, 4/21/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2025 | 13000  | 12806  | 12758  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215962292.SRDLC, 32.39%, 4/22/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2025 | 16500  | 16253  | 16158  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215970905.SRDLC, 24.99%, 4/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2025 | 3850  | 3792  | 3777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215973920.SRDLC, 24.49%, 4/22/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2025 | 12000  | 11821  | 11772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215975238.SRDLC, 24.99%, 4/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2025 | 2500  | 2463  | 2458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 215993752.SRDLC, 19.99%, 4/23/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2025 | 6000  | 5910  | 5892  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **118** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 216006676.SRDLC, 13.99%, 4/23/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2025 | $11000  | $10836  | $10819  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216011027.SRDLC, 26.99%, 4/10/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2025 | 25000  | 24626  | 24509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216024587.SRDLC, 20.49%, 4/24/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2025 | 13000  | 12806  | 12783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216030434.SRDLC, 23.49%, 4/24/2029 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2025 | 4800  | 4728  | 4717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216030556.SRDLC, 22.99%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 20000  | 19700  | 19700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216037317.SRDLC, 32.39%, 4/24/2030 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2025 | 20000  | 19700  | 19638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216037590.SRDLC, 14.99%, 4/24/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/28/2025 | 20000  | 19701  | 19672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216074413.SRDLC, 19.99%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 3600  | 3546  | 3546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216079218.SRDLC, 25.99%, 4/25/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2025 | 15000  | 14775  | 14745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216089527.SRDLC, 30.99%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 13000  | 12805  | 12805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216098294.SRDLC, 23.49%, 4/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 4000  | 3940  | 3940  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216101002.SRDLC, 22.49%, 4/28/2027 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 2500  | 2463  | 2463  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216109214.SRDLC, 27.99%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 25000  | 24625  | 24625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216113835.SRDLC, 24.99%, 4/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 8400  | 8274  | 8274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216124068.SRDLC, 25.99%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 9600  | 9456  | 9456  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216130245.SRDLC, 25.49%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 5300  | 5221  | 5221  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216135643.SRDLC, 27.49%, 4/28/2028 (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 11000  | 10835  | 10835  |
| &nbsp;&nbsp;&nbsp;&nbsp; 216140459.SRDLC, 28.49%, // (a)(r)  | Lending Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2025 | 10000  | 9850  | 9850  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3902241.SRDUP, 20.11%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1154  | 1150  | 1170  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3902412.SRDUP, 25.25%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2800  | 2793  | 2795  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3908661.SRDUP, 23.08%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3973  | 3954  | 4010  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3908662.SRDUP, 19.68%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 768  | 765  | 778  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909789.SRDUP, 22.24%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 662  | 658  | 83  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909800.SRDUP, 28.26%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1280  | 1275  | 1279  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909833.SRDUP, 18.53%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5135  | 5113  | 5118  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909834.SRDUP, 22.43%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2963  | 2951  | 3002  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909869.SRDUP, 28.92%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 833  | 829  | 251  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909880.SRDUP, 25.58%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1755  | 1746  | 1777  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909885.SRDUP, 16.50%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 16554  | 16494  | 16712  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909897.SRDUP, 28.34%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1006  | 1001  | 1014  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909905.SRDUP, 21.51%, 8/17/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2849  | 2835  | 2711  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909924.SRDUP, 27.54%, 1/6/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1518  | 1510  | 933  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3909977.SRDUP, 20.46%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1270  | 1267  | 1267  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910010.SRDUP, 24.42%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3782  | 3777  | 3835  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910035.SRDUP, 25.43%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1076  | 1073  | 1065  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910037.SRDUP, 28.53%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1612  | 1609  | 1633  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910045.SRDUP, 27.13%, 8/17/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12930  | 12881  | 13035  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910047.SRDUP, 21.61%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2156  | 2148  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910080.SRDUP, 28.54%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1129  | 1124  | 1140  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910090.SRDUP, 26.46%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2900  | 2886  | 2888  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910097.SRDUP, 28.65%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 993  | 988  | 995  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910113.SRDUP, 24.04%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2362  | 2358  | 2390  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910123.SRDUP, 6.00%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3256  | 3242  | 3266  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910141.SRDUP, 28.08%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 6385  | 6354  | 1301  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910143.SRDUP, 23.88%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 532  | 531  | 530  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910144.SRDUP, 28.62%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2742  | 2732  | 2762  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910154.SRDUP, 20.27%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 586  | 584  | 584  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910160.SRDUP, 28.35%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 654  | 651  | 645  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910165.SRDUP, 28.75%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1211  | 1206  | 1219  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910216.SRDUP, 17.56%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 37584  | 37452  | 37921  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910222.SRDUP, 17.38%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5101  | 5077  | 5039  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910258.SRDUP, 26.04%, 6/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 17071  | 16986  | 16765  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **119** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910262.SRDUP, 26.17%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | $12840  | $12775  | $1011  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910275.SRDUP, 29.41%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 9056  | 9010  | 8957  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910281.SRDUP, 21.26%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 16733  | 16670  | 16995  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910308.SRDUP, 24.05%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1428  | 1421  | 1445  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910333.SRDUP, 19.30%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 6457  | 6442  | 6436  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910374.SRDUP, 28.85%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11266  | 11229  | 11287  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910438.SRDUP, 22.29%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 39444  | 39298  | 39968  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910645.SRDUP, 20.35%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 571  | 570  | 570  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910696.SRDUP, 15.86%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2808  | 2801  | 2777  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910741.SRDUP, 28.68%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 807  | 804  | 817  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910777.SRDUP, 28.96%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3636  | 3622  | 3661  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910827.SRDUP, 28.81%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2987  | 2972  | 890  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910886.SRDUP, 21.62%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 13711  | 13646  | 13858  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910906.SRDUP, 23.87%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2752  | 2742  | 2792  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3910941.SRDUP, 28.08%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2699  | 2688  | 2729  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911183.SRDUP, 26.29%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 23347  | 23257  | 23603  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911219.SRDUP, 23.85%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1224  | 1221  | 1212  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911341.SRDUP, 26.92%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1403  | 1398  | 1421  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911374.SRDUP, 16.80%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1216  | 1213  | 1201  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911399.SRDUP, 19.04%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3453  | 3440  | 3499  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911489.SRDUP, 25.68%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2964  | 2957  | 2954  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911508.SRDUP, 25.51%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 13533  | 13481  | 13726  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911536.SRDUP, 28.83%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1292  | 1290  | 1302  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911545.SRDUP, 18.21%, 1/3/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 42748  | 42559  | 42523  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911670.SRDUP, 22.35%, 1/18/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1863  | 1854  | 269  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911722.SRDUP, 18.11%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2281  | 2273  | 2298  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911728.SRDUP, 25.65%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3395  | 3386  | 3363  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911740.SRDUP, 24.49%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 945  | 941  | 958  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911766.SRDUP, 27.45%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 979  | 976  | 982  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911810.SRDUP, 26.08%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1672  | 1665  | 1685  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911849.SRDUP, 28.42%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3856  | 3841  | 3908  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911873.SRDUP, 27.00%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3711  | 3697  | 3754  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911895.SRDUP, 28.58%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2097  | 2089  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911896.SRDUP, 28.32%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1210  | 1205  | 1220  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911897.SRDUP, 13.99%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1571  | 1571  | 1565  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3911971.SRDUP, 15.61%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 10460  | 10422  | 10661  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3912134.SRDUP, 29.66%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 6895  | 6868  | 6945  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3912172.SRDUP, 14.10%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 5801  | 5772  | 5813  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3912220.SRDUP, 27.72%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 803  | 800  | 814  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3912491.SRDUP, 28.71%, 8/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 6928  | 6893  | 2078  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3912534.SRDUP, 28.88%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 808  | 804  | 814  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913126.SRDUP, 22.47%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7803  | 7773  | 7908  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913152.SRDUP, 28.59%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3620  | 3602  | 3663  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913207.SRDUP, 24.08%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 5480  | 5454  | 5552  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913224.SRDUP, 25.53%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2523  | 2516  | 2503  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913228.SRDUP, 28.70%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1370  | 1364  | 1389  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913262.SRDUP, 20.06%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 11539  | 11496  | 11694  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913263.SRDUP, 29.66%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4245  | 4224  | 2317  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913301.SRDUP, 28.56%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1410  | 1404  | 1428  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913355.SRDUP, 27.81%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1849  | 1840  | 1847  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913378.SRDUP, 17.16%, 1/4/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7078  | 7061  | 7072  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913379.SRDUP, 24.34%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 15229  | 15155  | 15432  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **120** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913406.SRDUP, 23.37%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | $2317  | $2308  | $2351  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913412.SRDUP, 14.09%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 13186  | 13139  | 13329  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913421.SRDUP, 14.52%, 8/4/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 872  | 868  | 179  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913427.SRDUP, 29.19%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 971  | 967  | 979  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913442.SRDUP, 21.63%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3018  | 3010  | 3008  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913451.SRDUP, 22.49%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 17792  | 17725  | 18033  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913457.SRDUP, 28.28%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1523  | 1517  | 1544  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913461.SRDUP, 26.76%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4005  | 3986  | 4040  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913475.SRDUP, 20.52%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 15426  | 15368  | 15676  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913499.SRDUP, 28.31%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 406  | 404  | 398  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913500.SRDUP, 27.57%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 811  | 808  | 802  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913502.SRDUP, 25.31%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 753  | 751  | 747  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913524.SRDUP, 18.50%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 26937  | 26803  | 7428  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913556.SRDUP, 20.57%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4470  | 4453  | 4536  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913576.SRDUP, 19.59%, 8/4/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1956  | 1948  | 282  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913602.SRDUP, 24.34%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2671  | 2664  | 2662  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3913801.SRDUP, 28.76%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3316  | 3303  | 3343  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3914003.SRDUP, 23.25%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2207  | 2201  | 2201  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3914140.SRDUP, 20.37%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3678  | 3659  | 3669  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3914356.SRDUP, 28.48%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7899  | 7868  | 7964  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3914443.SRDUP, 26.56%, 1/4/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 42619  | 42409  | 40938  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3914593.SRDUP, 23.95%, 1/4/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 45755  | 45526  | 3745  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954098.SRDUP, 28.69%, 9/1/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3157  | 3142  | 3125  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954143.SRDUP, 28.58%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 4649  | 4629  | 4626  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954153.SRDUP, 25.94%, 9/1/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1180  | 1176  | 1169  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954198.SRDUP, 29.94%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 11900  | 11841  | 3572  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954201.SRDUP, 23.42%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 17768  | 17737  | 17919  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954214.SRDUP, 28.76%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1883  | 1875  | 1896  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954283.SRDUP, 28.28%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 30622  | 30500  | 30843  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954333.SRDUP, 30.59%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1188  | 1184  | 1193  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954341.SRDUP, 30.91%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1591  | 1584  | 872  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954356.SRDUP, 26.92%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 36908  | 36762  | 37301  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954359.SRDUP, 24.68%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 34647  | 34512  | 34930  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954363.SRDUP, 22.47%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 38532  | 38383  | 38947  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954441.SRDUP, 28.88%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 984  | 980  | 984  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954449.SRDUP, 22.36%, 9/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 15788  | 15728  | 15991  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954476.SRDUP, 30.17%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 824  | 821  | 829  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954499.SRDUP, 27.69%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 24429  | 24332  | 24609  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954561.SRDUP, 21.09%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 9508  | 9472  | 9631  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3954563.SRDUP, 24.89%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 4578  | 4560  | 4627  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955684.SRDUP, 22.45%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 10304  | 10302  | 10453  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955779.SRDUP, 16.17%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 10217  | 10179  | 10302  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955802.SRDUP, 13.42%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 3458  | 3459  | 3492  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955806.SRDUP, 30.65%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2501  | 2491  | 2512  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955807.SRDUP, 21.50%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2920  | 2909  | 2951  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955808.SRDUP, 28.09%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 13566  | 13512  | 13692  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955814.SRDUP, 28.82%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 827  | 823  | 830  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955815.SRDUP, 20.74%, 9/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 17940  | 17870  | 18167  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955833.SRDUP, 26.63%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 6807  | 6773  | 2040  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955854.SRDUP, 31.09%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 6701  | 6674  | 6760  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3955904.SRDUP, 19.84%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 8907  | 8873  | 9036  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3956685.SRDUP, 19.38%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1793  | 1786  | 1819  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **121** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3956905.SRDUP, 22.84%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | $4160  | $4148  | $4136  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3957261.SRDUP, 28.86%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2161  | 2150  | 148  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3957775.SRDUP, 27.97%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2855  | 2847  | 2832  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3958274.SRDUP, 23.89%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 17870  | 17800  | 18102  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3958361.SRDUP, 26.50%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 930  | 926  | 937  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3959096.SRDUP, 28.85%, 9/20/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4581  | 4558  | 314  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3959168.SRDUP, 24.20%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 9201  | 9176  | 9180  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3960184.SRDUP, 25.03%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 13724  | 13671  | 13866  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3960264.SRDUP, 29.92%, 2/10/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 9100  | 9055  | 8826  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM3961210.SRDUP, 12.28%, 9/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 5178  | 5165  | 5157  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4006968.SRDUP, 29.06%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 10452  | 10410  | 10482  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007246.SRDUP, 26.21%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 894  | 893  | 886  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007944.SRDUP, 28.65%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 988  | 983  | 296  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007958.SRDUP, 28.82%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1329  | 1324  | 1335  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007961.SRDUP, 29.06%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1248  | 1243  | 1245  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007968.SRDUP, 18.55%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 13581  | 13529  | 13642  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4007984.SRDUP, 27.98%, 3/21/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5906  | 5877  | 5417  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008018.SRDUP, 25.83%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 898  | 896  | 894  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008025.SRDUP, 26.38%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1643  | 1636  | 1651  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008026.SRDUP, 29.98%, 3/21/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2394  | 2391  | 2280  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008087.SRDUP, 18.12%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1961  | 1953  | 1974  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008130.SRDUP, 27.12%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 8313  | 8280  | 8304  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008140.SRDUP, 27.00%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4642  | 4619  | 4662  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008144.SRDUP, 28.33%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 6622  | 6595  | 6651  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008158.SRDUP, 29.17%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 28461  | 28346  | 28696  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008187.SRDUP, 21.13%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7191  | 7163  | 7285  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008196.SRDUP, 16.91%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2268  | 2260  | 2285  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008214.SRDUP, 22.59%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4174  | 4157  | 4213  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008222.SRDUP, 29.74%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5622  | 5599  | 5673  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008227.SRDUP, 19.33%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 971  | 969  | 969  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008239.SRDUP, 29.18%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4577  | 4559  | 4597  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008251.SRDUP, 16.42%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4680  | 4662  | 4714  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008253.SRDUP, 19.07%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 9063  | 9027  | 9090  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008265.SRDUP, 24.59%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1873  | 1866  | 1895  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008282.SRDUP, 29.01%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1649  | 1641  | 1655  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008287.SRDUP, 25.53%, 10/13/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2387  | 2385  | 2363  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008303.SRDUP, 28.91%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1219  | 1213  | 105  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008304.SRDUP, 20.39%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 17498  | 17430  | 17712  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008334.SRDUP, 29.10%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1747  | 1740  | 1755  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008343.SRDUP, 26.00%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 41027  | 40848  | 40965  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008367.SRDUP, 29.10%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7154  | 7125  | 7185  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008371.SRDUP, 28.26%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2630  | 2619  | 2594  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4008874.SRDUP, 27.56%, 10/20/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3633  | 3619  | 3424  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009102.SRDUP, 28.64%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3562  | 3549  | 3577  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009136.SRDUP, 17.51%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 19619  | 19544  | 19756  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009147.SRDUP, 28.99%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2477  | 2467  | 2487  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009149.SRDUP, 26.65%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5121  | 5096  | 2621  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009182.SRDUP, 29.08%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2230  | 2221  | 2238  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009475.SRDUP, 27.73%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7320  | 7283  | 7355  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4009969.SRDUP, 29.14%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4213  | 4196  | 4239  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4010323.SRDUP, 17.86%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2669  | 2658  | 2708  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4010328.SRDUP, 18.40%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4522  | 4505  | 4548  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **122** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4010388.SRDUP, 19.70%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | $648  | $646  | $640  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4010393.SRDUP, 26.09%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2389  | 2380  | 2392  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011013.SRDUP, 30.00%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3617  | 3602  | 3632  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011033.SRDUP, 15.46%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1939  | 1932  | 1956  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011066.SRDUP, 23.51%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4062  | 4046  | 4099  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011086.SRDUP, 29.98%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1086  | 1082  | 1086  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011116.SRDUP, 12.01%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1303  | 1300  | 1297  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011195.SRDUP, 28.74%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 831  | 827  | 836  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011217.SRDUP, 27.44%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 826  | 822  | 832  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011224.SRDUP, 29.16%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 6657  | 6630  | 6701  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011255.SRDUP, 25.19%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 992  | 989  | 990  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011440.SRDUP, 28.97%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 849  | 845  | 566  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011611.SRDUP, 28.84%, 8/25/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1129  | 1123  | 1100  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011616.SRDUP, 28.88%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3127  | 3114  | 3156  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4011977.SRDUP, 14.32%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12614  | 12566  | 12719  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012018.SRDUP, 27.69%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3403  | 3386  | 1037  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012040.SRDUP, 29.00%, 10/16/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5225  | 5199  | 1591  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012047.SRDUP, 19.26%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3170  | 3157  | 3193  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012065.SRDUP, 14.71%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5799  | 5778  | 5907  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012124.SRDUP, 28.19%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 24280  | 24159  | 1814  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012132.SRDUP, 29.14%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 916  | 911  | 916  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012417.SRDUP, 29.96%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4440  | 4419  | 4432  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012490.SRDUP, 27.05%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 22233  | 22144  | 22393  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012523.SRDUP, 30.32%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1661  | 1653  | 1666  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012533.SRDUP, 23.95%, 10/10/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2894  | 2886  | 2874  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012547.SRDUP, 16.28%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2728  | 2725  | 2751  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4012576.SRDUP, 29.16%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 10158  | 10145  | 10158  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4013922.SRDUP, 29.03%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4990  | 4970  | 5024  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4014118.SRDUP, 25.79%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 6583  | 6557  | 6591  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4014126.SRDUP, 21.53%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2430  | 2423  | 2427  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4014422.SRDUP, 29.08%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1060  | 1055  | 1061  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4014926.SRDUP, 27.29%, 3/15/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 13202  | 13137  | 12623  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4014939.SRDUP, 20.66%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 6387  | 6362  | 6485  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4985717.SRDUP, 27.16%, 2/5/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 47530  | 47530  | 21396  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4992912.SRDUP, 31.42%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2270  | 2270  | 2213  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4995063.SRDUP, 26.05%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 3437  | 3437  | 3318  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4995095.SRDUP, 27.37%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 5895  | 5895  | 5690  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4996179.SRDUP, 21.86%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 9605  | 9605  | 9482  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4996212.SRDUP, 26.57%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1434  | 1434  | 1399  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4996277.SRDUP, 27.99%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 9631  | 9631  | 9295  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4996757.SRDUP, 15.91%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4348  | 4348  | 4295  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4997261.SRDUP, 30.83%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4130  | 4130  | 3985  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4998058.SRDUP, 29.22%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3048  | 3048  | 2943  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4998524.SRDUP, 28.52%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 41285  | 41285  | 39861  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4998635.SRDUP, 25.44%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1963  | 1963  | 1915  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4999407.SRDUP, 27.24%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3340  | 3340  | 3226  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4999527.SRDUP, 26.51%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2222  | 2222  | 2146  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM4999626.SRDUP, 27.77%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 9434  | 9434  | 9109  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5000396.SRDUP, 13.27%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 14999  | 14999  | 14832  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5001173.SRDUP, 19.44%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 41721  | 41721  | 40884  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5001750.SRDUP, 21.42%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 7829  | 7829  | 7642  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5003121.SRDUP, 30.62%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 8657  | 8657  | 8361  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **123** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5003126.SRDUP, 17.57%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | $6259  | $6259  | $6184  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5003479.SRDUP, 24.53%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 29216  | 29216  | 28511  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5003648.SRDUP, 32.37%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 6005  | 6005  | 5798  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5004016.SRDUP, 28.74%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2753  | 2753  | 2660  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5005036.SRDUP, 15.87%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 27747  | 27747  | 27423  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5006321.SRDUP, 25.61%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 982  | 982  | 949  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5006370.SRDUP, 31.62%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4503  | 4503  | 4354  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5006777.SRDUP, 17.40%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 12712  | 12755  | 12459  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5007097.SRDUP, 29.82%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1082  | 1082  | 1046  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5007933.SRDUP, 16.94%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 34704  | 34704  | 34301  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5007942.SRDUP, 28.39%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7297  | 7297  | 7124  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008121.SRDUP, 31.80%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6890  | 6913  | 6660  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008477.SRDUP, 31.80%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8457  | 8457  | 8175  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008480.SRDUP, 24.33%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1176  | 1176  | 1138  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008510.SRDUP, 26.54%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7170  | 7170  | 6935  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008558.SRDUP, 16.43%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1952  | 1952  | 1929  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008656.SRDUP, 28.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3071  | 3071  | 2971  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5008732.SRDUP, 25.65%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 982  | 982  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5009056.SRDUP, 32.29%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3352  | 3352  | 3270  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5009099.SRDUP, 28.55%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2059  | 2059  | 1991  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5009375.SRDUP, 25.58%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 48989  | 48989  | 47828  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5009463.SRDUP, 28.53%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2261  | 2269  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5009940.SRDUP, 30.40%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1734  | 1734  | 1674  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010059.SRDUP, 29.45%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1377  | 1377  | 1331  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010162.SRDUP, 29.78%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4819  | 4819  | 4659  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010354.SRDUP, 28.98%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1475  | 1475  | 1426  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010684.SRDUP, 30.25%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4720  | 4735  | 4558  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010692.SRDUP, 28.59%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2851  | 2851  | 2757  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5010703.SRDUP, 28.48%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1272  | 1272  | 1230  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5172961.SRDUP, 28.81%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 10700  | 10700  | 10552  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5176915.SRDUP, 28.58%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5886  | 5886  | 5804  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177051.SRDUP, 28.85%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1900  | 1900  | 1873  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177119.SRDUP, 27.65%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177139.SRDUP, 31.88%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14559  | 14559  | 14350  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177162.SRDUP, 28.60%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2353  | 2353  | 2320  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177169.SRDUP, 25.06%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1000  | 1000  | 986  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5177195.SRDUP, 27.35%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5500  | 5519  | 5420  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178188.SRDUP, 27.99%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2034  | 2034  | 2006  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178198.SRDUP, 30.68%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5500  | 5519  | 5419  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178312.SRDUP, 28.35%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1900  | 1900  | 1873  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178453.SRDUP, 31.96%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 12500  | 12500  | 12319  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178670.SRDUP, 31.99%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14400  | 14400  | 14191  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178699.SRDUP, 27.68%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 19600  | 19600  | 19320  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178782.SRDUP, 23.69%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178785.SRDUP, 16.19%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2500  | 2500  | 2495  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178805.SRDUP, 22.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 22000  | 22000  | 21782  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178859.SRDUP, 28.73%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1900  | 1900  | 1873  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178910.SRDUP, 29.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178960.SRDUP, 28.70%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5178968.SRDUP, 28.78%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2169  | 2169  | 2138  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5179193.SRDUP, 28.91%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14000  | 14000  | 13799  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5180060.SRDUP, 30.13%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13500  | 13500  | 13302  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **124** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5180061.SRDUP, 30.45%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $1700  | $1706  | $1675  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5180165.SRDUP, 23.98%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 30900  | 30900  | 30593  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181163.SRDUP, 28.87%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 6600  | 6600  | 6508  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181237.SRDUP, 14.35%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 6300  | 6300  | 6272  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181360.SRDUP, 27.85%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181393.SRDUP, 28.85%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1169  | 1169  | 1153  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181400.SRDUP, 29.31%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2900  | 2900  | 2860  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5181420.SRDUP, 28.63%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 19000  | 19000  | 18737  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5186368.SRDUP, 31.50%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2800  | 2800  | 2765  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5186409.SRDUP, 28.79%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4600  | 4600  | 4543  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5186767.SRDUP, 32.17%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4778  | 4778  | 4720  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187005.SRDUP, 24.95%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3400  | 3400  | 3358  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187030.SRDUP, 28.44%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10800  | 10800  | 10666  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187073.SRDUP, 32.14%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4813  | 4813  | 4754  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187251.SRDUP, 22.06%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2200  | 2200  | 2182  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187277.SRDUP, 19.84%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1700  | 1700  | 1688  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187748.SRDUP, 28.63%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2700  | 2700  | 2667  |
| &nbsp;&nbsp;&nbsp;&nbsp; CBM5187939.SRDUP, 22.89%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11400  | 11400  | 11308  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4966203.SRDUP, 28.50%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 10026  | 10060  | 9690  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4987083.SRDUP, 28.86%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6685  | 6708  | 6451  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4987263.SRDUP, 26.16%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6972  | 6972  | 6730  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4992582.SRDUP, 30.67%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3738  | 3751  | 3609  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4995703.SRDUP, 30.81%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1783  | 1783  | 1737  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996012.SRDUP, 30.53%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 8598  | 8598  | 8302  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996138.SRDUP, 26.16%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1879  | 1879  | 1868  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996147.SRDUP, 28.73%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6731  | 6731  | 6498  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996168.SRDUP, 31.84%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 12598  | 12598  | 12153  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996193.SRDUP, 28.71%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 11207  | 11207  | 10814  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996266.SRDUP, 25.42%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 3184  | 3184  | 3075  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996402.SRDUP, 27.37%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1376  | 1375  | 1328  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996403.SRDUP, 25.61%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 982  | 985  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996415.SRDUP, 25.48%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 44805  | 44805  | 43690  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996623.SRDUP, 24.77%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4416  | 4416  | 4306  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996672.SRDUP, 28.60%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 3932  | 3932  | 3798  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996692.SRDUP, 31.86%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4411  | 4411  | 4267  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996913.SRDUP, 30.49%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6647  | 6647  | 6405  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996939.SRDUP, 21.19%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 9504  | 9504  | 9270  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4996941.SRDUP, 27.74%, 7/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 14445  | 14445  | 13941  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4997220.SRDUP, 30.05%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4131  | 4131  | 3988  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4997488.SRDUP, 24.51%, 2/3/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6806  | 6806  | 6636  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4997968.SRDUP, 26.49%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 8348  | 8348  | 8062  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998012.SRDUP, 24.76%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 8931  | 8931  | 8711  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998045.SRDUP, 28.48%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5603  | 5603  | 5410  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998071.SRDUP, 28.42%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1745  | 1745  | 1685  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998082.SRDUP, 28.52%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 3216  | 3216  | 3127  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998093.SRDUP, 29.00%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1180  | 1180  | 1139  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998229.SRDUP, 26.27%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5480  | 5480  | 5292  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998236.SRDUP, 28.80%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 13763  | 13763  | 13288  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998364.SRDUP, 29.49%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 11731  | 11731  | 11330  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998395.SRDUP, 26.06%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1669  | 1669  | 1628  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998397.SRDUP, 31.19%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4441  | 4455  | 4289  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998463.SRDUP, 29.22%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4134  | 4134  | 3989  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **125** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998485.SRDUP, 29.89%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | $1926  | $1926  | $1857  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998523.SRDUP, 25.53%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 16002  | 16002  | 15456  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998613.SRDUP, 18.74%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2160  | 2160  | 2129  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998676.SRDUP, 28.96%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 6882  | 6882  | 6644  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4998701.SRDUP, 31.50%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 8400  | 8400  | 2378  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999415.SRDUP, 29.87%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3541  | 3541  | 3418  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999434.SRDUP, 19.04%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 15334  | 15334  | 15255  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999529.SRDUP, 30.83%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1869  | 1869  | 1804  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999560.SRDUP, 25.87%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1066  | 1066  | 1039  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999572.SRDUP, 28.75%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4424  | 4424  | 4271  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999705.SRDUP, 30.64%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4132  | 4132  | 3988  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999707.SRDUP, 26.75%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 23158  | 23158  | 22360  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB4999852.SRDUP, 32.00%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2362  | 2362  | 2280  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5000076.SRDUP, 31.69%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2264  | 2271  | 2185  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5000370.SRDUP, 25.66%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2142  | 2142  | 2069  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5000530.SRDUP, 30.50%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1700  | 1700  | 822  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5000564.SRDUP, 24.06%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1177  | 1177  | 1153  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5000871.SRDUP, 27.38%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 16211  | 16211  | 15654  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001170.SRDUP, 28.72%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5014  | 5014  | 4841  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001261.SRDUP, 30.03%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 11704  | 11704  | 11304  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001264.SRDUP, 30.65%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 8559  | 8559  | 8266  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001501.SRDUP, 31.45%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2755  | 2755  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001568.SRDUP, 30.07%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 7478  | 7478  | 7224  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001698.SRDUP, 32.28%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5983  | 5983  | 5777  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001704.SRDUP, 32.13%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4626  | 4626  | 4467  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5001819.SRDUP, 27.28%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5390  | 5390  | 5210  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002085.SRDUP, 30.34%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2496  | 2496  | 2408  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002237.SRDUP, 30.55%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 37733  | 37733  | 36795  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002561.SRDUP, 25.67%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5573  | 5573  | 5443  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002662.SRDUP, 25.23%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1669  | 1669  | 1613  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002738.SRDUP, 24.34%, 2/5/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 13341  | 13341  | 5978  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002890.SRDUP, 23.87%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 3853  | 3853  | 3726  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002908.SRDUP, 29.94%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1637  | 1637  | 1579  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002911.SRDUP, 30.33%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 9511  | 9511  | 9277  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5002934.SRDUP, 24.49%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4192  | 4192  | 4053  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003022.SRDUP, 25.39%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2210  | 2210  | 2133  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003074.SRDUP, 32.02%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2658  | 2658  | 2566  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003146.SRDUP, 26.06%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5401  | 5401  | 5219  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003213.SRDUP, 28.91%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1437  | 1437  | 1389  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003240.SRDUP, 28.76%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5702  | 5721  | 5508  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003331.SRDUP, 28.74%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 983  | 983  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003496.SRDUP, 30.03%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4829  | 4829  | 4710  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003508.SRDUP, 31.80%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 7382  | 7382  | 7128  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003634.SRDUP, 29.87%, 2/5/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5831  | 5831  | 5638  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003686.SRDUP, 30.18%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4527  | 4527  | 4367  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5003731.SRDUP, 24.48%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 11264  | 11264  | 10995  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004005.SRDUP, 31.43%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2362  | 2362  | 2281  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004022.SRDUP, 32.17%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4681  | 4697  | 4615  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004029.SRDUP, 25.89%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2763  | 2763  | 2697  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004031.SRDUP, 29.78%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 6085  | 6085  | 5934  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004058.SRDUP, 24.70%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5090  | 5090  | 4972  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004059.SRDUP, 31.57%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2887  | 2887  | 2847  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **126** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004072.SRDUP, 25.54%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | $2651  | $2651  | $2561  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004259.SRDUP, 22.37%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 17645  | 17645  | 17067  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004342.SRDUP, 31.27%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2165  | 2165  | 2092  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004375.SRDUP, 28.64%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1868  | 1874  | 1805  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004545.SRDUP, 22.82%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1047  | 1051  | 1027  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004615.SRDUP, 28.49%, 2/6/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2750  | 2750  | 2657  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004763.SRDUP, 30.89%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 14166  | 14166  | 13677  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004785.SRDUP, 29.75%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 7671  | 7671  | 7413  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004820.SRDUP, 29.94%, 2/6/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2839  | 2839  | 2744  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004838.SRDUP, 28.85%, 2/6/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4372  | 4372  | 2111  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5004864.SRDUP, 21.66%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 5589  | 5589  | 5457  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5005016.SRDUP, 28.24%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4782  | 4782  | 4622  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006349.SRDUP, 28.75%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1180  | 1180  | 1140  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006352.SRDUP, 28.94%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 10814  | 10814  | 10452  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006378.SRDUP, 30.83%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 7865  | 7865  | 7591  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006380.SRDUP, 28.75%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4817  | 4817  | 4656  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006382.SRDUP, 27.18%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 14420  | 14420  | 13944  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006395.SRDUP, 30.76%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 5313  | 5313  | 5133  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006407.SRDUP, 28.37%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 983  | 983  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006425.SRDUP, 27.22%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 48139  | 48139  | 46534  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006518.SRDUP, 31.85%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 6299  | 6299  | 6086  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006536.SRDUP, 25.89%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4517  | 4517  | 4369  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006681.SRDUP, 20.46%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 27814  | 27814  | 27161  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006719.SRDUP, 32.14%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2658  | 2667  | 2569  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006726.SRDUP, 29.94%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2852  | 2862  | 2756  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006786.SRDUP, 30.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 19381  | 19448  | 18737  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5006803.SRDUP, 31.58%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 15353  | 15353  | 14833  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007015.SRDUP, 13.18%, 2/6/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1931  | 1931  | 1923  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007091.SRDUP, 12.26%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 8189  | 8189  | 8152  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007111.SRDUP, 30.17%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2146  | 2146  | 2076  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007186.SRDUP, 27.38%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4554  | 4554  | 4408  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007289.SRDUP, 32.39%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 7679  | 7679  | 7418  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007439.SRDUP, 27.08%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 5403  | 5403  | 5272  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007468.SRDUP, 28.07%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2309  | 2317  | 2247  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007514.SRDUP, 31.36%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 5077  | 5077  | 5091  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007519.SRDUP, 30.76%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2601  | 2601  | 2511  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007561.SRDUP, 28.21%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 28896  | 28896  | 27929  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007569.SRDUP, 27.68%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1572  | 1572  | 1520  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007576.SRDUP, 27.68%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2872  | 2872  | 2804  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007766.SRDUP, 29.63%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1665  | 1665  | 1609  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007808.SRDUP, 23.02%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 7747  | 7747  | 7492  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007907.SRDUP, 13.65%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 35671  | 35671  | 35305  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5007929.SRDUP, 28.75%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2100  | 2100  | 593  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008171.SRDUP, 31.98%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5807  | 5807  | 5613  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008237.SRDUP, 13.74%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 23224  | 23224  | 23116  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008302.SRDUP, 31.90%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2559  | 2559  | 2474  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008331.SRDUP, 28.88%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6763  | 6763  | 6541  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008339.SRDUP, 32.27%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8663  | 8663  | 8373  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008395.SRDUP, 25.40%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 12762  | 12762  | 12345  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008401.SRDUP, 32.27%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 951  | 951  | 949  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008402.SRDUP, 25.29%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 49081  | 49081  | 47480  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008412.SRDUP, 32.25%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3248  | 3248  | 3140  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **127** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008496.SRDUP, 25.62%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $9006  | $9006  | $8712  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008497.SRDUP, 27.91%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2971  | 2971  | 2902  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008505.SRDUP, 14.35%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10640  | 10640  | 10519  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008512.SRDUP, 31.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5806  | 5806  | 5612  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008519.SRDUP, 28.86%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1180  | 1180  | 1141  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008532.SRDUP, 29.99%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10157  | 10157  | 9846  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008537.SRDUP, 27.68%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6367  | 6367  | 3062  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008540.SRDUP, 14.30%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 20401  | 20401  | 20169  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008542.SRDUP, 24.83%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 30424  | 30424  | 29705  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008563.SRDUP, 28.53%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5800  | 5800  | 5608  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008590.SRDUP, 27.50%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1179  | 1179  | 1140  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008617.SRDUP, 28.13%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6158  | 6158  | 5948  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008645.SRDUP, 26.28%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14327  | 14327  | 13860  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008658.SRDUP, 28.76%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1278  | 1278  | 1236  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008729.SRDUP, 29.34%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4810  | 4810  | 4651  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008767.SRDUP, 32.18%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4265  | 4265  | 4124  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5008894.SRDUP, 31.62%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5785  | 5785  | 5592  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009211.SRDUP, 29.79%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5672  | 5691  | 5487  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009364.SRDUP, 28.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5702  | 5721  | 5513  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009386.SRDUP, 29.97%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8458  | 8487  | 8178  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009426.SRDUP, 19.52%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 21181  | 21181  | 20764  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009544.SRDUP, 28.85%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4341  | 4341  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009547.SRDUP, 28.81%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1470  | 1470  | 1421  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009565.SRDUP, 32.01%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5807  | 5807  | 5613  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009573.SRDUP, 32.17%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2461  | 2461  | 2379  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009608.SRDUP, 30.21%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8853  | 8853  | 8559  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009705.SRDUP, 28.88%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1475  | 1475  | 1426  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009707.SRDUP, 31.28%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2952  | 2952  | 2854  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009728.SRDUP, 30.77%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5805  | 5805  | 5612  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009733.SRDUP, 31.54%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4232  | 4232  | 4091  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009741.SRDUP, 28.46%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7962  | 7989  | 7699  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009742.SRDUP, 29.91%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5409  | 5409  | 5230  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009747.SRDUP, 28.81%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6685  | 6685  | 6464  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009763.SRDUP, 22.47%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5392  | 5392  | 5273  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009772.SRDUP, 29.90%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2557  | 2557  | 2472  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009777.SRDUP, 23.20%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4536  | 4536  | 4390  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009782.SRDUP, 25.69%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3346  | 3346  | 3238  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009784.SRDUP, 13.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3219  | 3219  | 3183  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009794.SRDUP, 31.14%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2755  | 2755  | 2663  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009847.SRDUP, 31.25%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 22277  | 22353  | 21751  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009854.SRDUP, 28.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1671  | 1671  | 1616  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009885.SRDUP, 23.56%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6572  | 6572  | 6439  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009916.SRDUP, 28.73%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1573  | 1573  | 1521  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009924.SRDUP, 25.48%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5596  | 5616  | 5414  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009952.SRDUP, 30.59%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4817  | 4817  | 4652  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5009978.SRDUP, 31.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2558  | 2558  | 2473  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010010.SRDUP, 28.81%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3763  | 3763  | 3640  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010011.SRDUP, 31.99%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5709  | 5709  | 5518  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010016.SRDUP, 31.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2362  | 2362  | 2283  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010025.SRDUP, 26.23%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9820  | 9820  | 9499  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010035.SRDUP, 29.70%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3147  | 3147  | 3043  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010046.SRDUP, 28.32%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1671  | 1671  | 1616  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **128** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010055.SRDUP, 26.20%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $2750  | $2750  | $2660  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010057.SRDUP, 29.72%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1366  | 1366  | 1321  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010061.SRDUP, 32.08%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6792  | 6792  | 6565  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010071.SRDUP, 28.97%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5968  | 5968  | 5764  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010092.SRDUP, 28.86%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6141  | 6141  | 5997  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010118.SRDUP, 29.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 20652  | 20652  | 19968  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010119.SRDUP, 28.78%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1644  | 1644  | 1590  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010124.SRDUP, 28.64%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1475  | 1475  | 1426  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010126.SRDUP, 27.35%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6540  | 6540  | 6318  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010133.SRDUP, 29.82%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1279  | 1283  | 1236  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010149.SRDUP, 31.61%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2854  | 2854  | 2759  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010159.SRDUP, 30.71%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2505  | 2505  | 2419  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010170.SRDUP, 27.31%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 32225  | 32225  | 31167  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010174.SRDUP, 30.61%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1469  | 1469  | 1420  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010176.SRDUP, 28.68%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5603  | 5603  | 5418  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010190.SRDUP, 28.84%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5745  | 5745  | 5610  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010194.SRDUP, 24.55%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1075  | 1075  | 1040  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010195.SRDUP, 30.41%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4142  | 4142  | 4000  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010203.SRDUP, 29.98%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9517  | 9517  | 9201  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010205.SRDUP, 31.37%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3051  | 3051  | 2949  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010207.SRDUP, 28.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1278  | 1278  | 1236  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010215.SRDUP, 30.29%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2164  | 2164  | 2092  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010224.SRDUP, 29.90%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4623  | 4622  | 4469  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010226.SRDUP, 30.06%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1350  | 1350  | 1306  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010239.SRDUP, 28.61%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2426  | 2426  | 2347  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010325.SRDUP, 16.17%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1242  | 1246  | 1222  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010391.SRDUP, 30.75%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9067  | 9067  | 8765  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010395.SRDUP, 26.23%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9820  | 9820  | 9499  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010432.SRDUP, 26.20%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 960  | 963  | 929  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010433.SRDUP, 26.17%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5696  | 5696  | 5509  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010642.SRDUP, 25.78%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1086  | 1086  | 1061  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010681.SRDUP, 28.56%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4716  | 4716  | 4607  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010720.SRDUP, 20.96%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1584  | 1584  | 1549  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5010733.SRDUP, 28.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9830  | 9830  | 9506  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175618.SRDUP, 23.61%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 9000  | 9000  | 8869  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175659.SRDUP, 28.60%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1000  | 1000  | 985  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175697.SRDUP, 23.06%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1160  | 1160  | 1144  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175717.SRDUP, 31.55%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1682  | 1682  | 1657  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175845.SRDUP, 31.39%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 2900  | 2900  | 2857  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175881.SRDUP, 31.36%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 9872  | 9872  | 9725  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175945.SRDUP, 29.86%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 7600  | 7600  | 7487  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5175952.SRDUP, 28.89%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 2143  | 2143  | 2112  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176234.SRDUP, 16.97%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 40000  | 40000  | 39728  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176310.SRDUP, 29.80%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1400  | 1400  | 1379  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176387.SRDUP, 30.04%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2100  | 2107  | 2070  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176475.SRDUP, 30.53%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5900  | 5900  | 5815  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176596.SRDUP, 25.43%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5900  | 5900  | 5816  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176786.SRDUP, 31.82%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9900  | 9900  | 9756  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176827.SRDUP, 26.86%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1500  | 1500  | 1479  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176837.SRDUP, 23.23%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5637  | 5637  | 5557  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176843.SRDUP, 29.91%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4600  | 4600  | 4533  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176855.SRDUP, 27.28%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1100  | 1100  | 1084  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **129** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176877.SRDUP, 29.84%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $7900  | $7900  | $7785  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176887.SRDUP, 29.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9700  | 9700  | 9560  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176893.SRDUP, 28.52%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10000  | 10000  | 9857  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176904.SRDUP, 28.47%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3100  | 3100  | 3056  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176905.SRDUP, 26.24%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 22700  | 22700  | 22377  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176909.SRDUP, 28.87%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1600  | 1606  | 1577  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176918.SRDUP, 25.48%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6875  | 6875  | 6778  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176925.SRDUP, 28.77%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13357  | 13357  | 13167  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5176971.SRDUP, 24.17%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 15396  | 15396  | 15246  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177011.SRDUP, 23.74%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 26500  | 26500  | 26285  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177022.SRDUP, 31.97%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1400  | 1400  | 1386  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177029.SRDUP, 30.45%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 35500  | 35500  | 34987  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177031.SRDUP, 28.84%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2700  | 2700  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177040.SRDUP, 26.24%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7000  | 7000  | 6900  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177057.SRDUP, 25.31%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 20000  | 20000  | 19800  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177070.SRDUP, 15.43%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 19500  | 19500  | 19410  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177077.SRDUP, 24.77%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10000  | 10000  | 9857  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177106.SRDUP, 28.77%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1100  | 1100  | 1084  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177133.SRDUP, 31.52%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3300  | 3300  | 3252  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177150.SRDUP, 24.73%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5618  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177155.SRDUP, 13.36%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6097  | 6097  | 6069  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177173.SRDUP, 27.17%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1000  | 1000  | 986  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177178.SRDUP, 29.35%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6230  | 6230  | 6141  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177180.SRDUP, 32.37%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2900  | 2858  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177185.SRDUP, 30.05%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4586  | 4586  | 4521  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177189.SRDUP, 30.52%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5900  | 5900  | 5815  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177193.SRDUP, 25.66%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 15600  | 15600  | 15379  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177197.SRDUP, 28.83%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2661  | 2661  | 2624  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177199.SRDUP, 29.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5400  | 5400  | 5322  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177215.SRDUP, 28.40%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1000  | 1000  | 986  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177220.SRDUP, 32.29%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3400  | 3351  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177241.SRDUP, 25.86%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 44400  | 44400  | 43769  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177242.SRDUP, 31.79%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 29500  | 29500  | 29072  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177249.SRDUP, 25.78%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 27000  | 27000  | 26611  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177256.SRDUP, 30.08%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 24700  | 24700  | 24344  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177258.SRDUP, 32.09%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2600  | 2609  | 2562  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177269.SRDUP, 27.44%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4200  | 4200  | 4139  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177274.SRDUP, 25.31%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5679  | 5679  | 5599  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177275.SRDUP, 29.81%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2842  | 2842  | 2802  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177276.SRDUP, 28.61%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6000  | 6000  | 5914  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177277.SRDUP, 31.48%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1881  | 1881  | 1854  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177287.SRDUP, 32.36%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2493  | 2493  | 2457  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177292.SRDUP, 28.69%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1300  | 1300  | 1281  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177294.SRDUP, 22.85%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1091  | 1091  | 1081  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177303.SRDUP, 27.32%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1971  | 1971  | 1944  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177334.SRDUP, 9.95%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 30800  | 30800  | 30752  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177350.SRDUP, 25.28%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177357.SRDUP, 30.80%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4600  | 4600  | 4533  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177361.SRDUP, 28.67%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1300  | 1300  | 1281  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177383.SRDUP, 32.28%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5500  | 5500  | 5420  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177388.SRDUP, 27.04%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177392.SRDUP, 28.23%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2800  | 2800  | 2760  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **130** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177398.SRDUP, 30.51%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $2400  | $2400  | $2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177420.SRDUP, 22.38%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 12000  | 12000  | 11903  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177469.SRDUP, 30.43%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5800  | 5800  | 5716  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177688.SRDUP, 28.68%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2200  | 2200  | 2168  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177750.SRDUP, 31.91%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9200  | 9200  | 9066  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177853.SRDUP, 11.42%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5000  | 5000  | 4981  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5177974.SRDUP, 22.72%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 30800  | 30800  | 30495  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178200.SRDUP, 27.44%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 16000  | 16000  | 15771  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178216.SRDUP, 20.67%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1800  | 1800  | 1783  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178233.SRDUP, 31.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3412  | 3351  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178235.SRDUP, 31.79%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2300  | 2300  | 2267  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178288.SRDUP, 26.77%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3677  | 3690  | 3632  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178293.SRDUP, 28.08%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8726  | 8726  | 8602  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178316.SRDUP, 25.74%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8501  | 8501  | 8381  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178375.SRDUP, 31.18%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7380  | 7380  | 7276  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178423.SRDUP, 30.67%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1300  | 1300  | 1281  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178442.SRDUP, 30.85%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3158  | 3158  | 3118  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178644.SRDUP, 30.47%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5900  | 5900  | 5814  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178694.SRDUP, 15.55%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2276  | 2275  | 2261  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178717.SRDUP, 28.39%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13200  | 13200  | 13066  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178784.SRDUP, 26.18%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 716  | 716  | 719  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178789.SRDUP, 27.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10200  | 10200  | 10054  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178790.SRDUP, 29.59%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2700  | 2700  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178791.SRDUP, 30.06%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 24500  | 24500  | 24148  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178799.SRDUP, 31.09%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4600  | 4600  | 4533  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178800.SRDUP, 29.45%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178807.SRDUP, 32.28%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3600  | 3600  | 3548  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178816.SRDUP, 28.87%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3911  | 3911  | 3857  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178832.SRDUP, 24.36%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 27200  | 27200  | 26978  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178852.SRDUP, 25.95%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 22800  | 22800  | 22476  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178856.SRDUP, 32.17%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3700  | 3700  | 3646  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178879.SRDUP, 16.84%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 17000  | 17000  | 16888  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178892.SRDUP, 29.74%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4600  | 4600  | 4534  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178895.SRDUP, 28.13%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 11363  | 11363  | 11201  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178913.SRDUP, 12.43%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 21000  | 21000  | 20917  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178921.SRDUP, 30.02%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9000  | 9000  | 8870  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178929.SRDUP, 25.63%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5619  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178932.SRDUP, 32.30%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1800  | 1800  | 1774  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178940.SRDUP, 25.57%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8800  | 8800  | 8717  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178942.SRDUP, 24.42%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 15000  | 15000  | 14785  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178949.SRDUP, 26.84%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6700  | 6700  | 6604  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178955.SRDUP, 30.62%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1675  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178971.SRDUP, 31.98%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2500  | 2500  | 2464  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178973.SRDUP, 21.91%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 50000  | 50000  | 49508  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178988.SRDUP, 28.44%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5178989.SRDUP, 29.82%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5400  | 5400  | 5321  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179046.SRDUP, 25.81%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 36200  | 36200  | 35856  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179132.SRDUP, 31.69%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4900  | 4900  | 4829  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179298.SRDUP, 28.58%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7600  | 7600  | 7491  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179313.SRDUP, 31.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3000  | 3011  | 2956  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179316.SRDUP, 31.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3300  | 3300  | 3252  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179323.SRDUP, 30.27%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3928  | 3928  | 3879  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **131** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179331.SRDUP, 32.22%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $5400  | $5400  | $5322  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179335.SRDUP, 23.19%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 40000  | 40000  | 39604  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179336.SRDUP, 32.18%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1900  | 1900  | 1872  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179356.SRDUP, 13.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5200  | 5218  | 5176  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179460.SRDUP, 31.99%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2900  | 2858  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179566.SRDUP, 25.38%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10237  | 10237  | 10092  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179570.SRDUP, 32.16%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9900  | 9900  | 9756  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179656.SRDUP, 32.15%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2400  | 2400  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179830.SRDUP, 28.62%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179845.SRDUP, 32.37%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3900  | 3900  | 3843  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179851.SRDUP, 26.86%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1685  | 1685  | 1661  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179856.SRDUP, 25.64%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9800  | 9800  | 9661  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179864.SRDUP, 29.79%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2400  | 2400  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179866.SRDUP, 30.67%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6000  | 6000  | 5913  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179874.SRDUP, 25.74%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2200  | 2200  | 2179  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179884.SRDUP, 28.09%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3902  | 3902  | 3848  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179885.SRDUP, 31.85%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13200  | 13200  | 13008  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179925.SRDUP, 30.63%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2900  | 2858  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179936.SRDUP, 28.70%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4900  | 4900  | 4830  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179958.SRDUP, 32.39%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3000  | 3011  | 2970  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5179962.SRDUP, 31.70%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 24400  | 24400  | 24046  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180117.SRDUP, 29.18%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9514  | 9514  | 9382  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180196.SRDUP, 30.04%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 11400  | 11400  | 11283  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180362.SRDUP, 29.87%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3100  | 3100  | 3055  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180390.SRDUP, 27.53%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8329  | 8329  | 8210  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180825.SRDUP, 29.96%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5900  | 5900  | 5818  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5180884.SRDUP, 19.04%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 16400  | 16457  | 16274  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181026.SRDUP, 31.74%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2400  | 2400  | 2366  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181186.SRDUP, 24.75%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1200  | 1200  | 1191  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181242.SRDUP, 30.38%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3600  | 3600  | 3549  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181276.SRDUP, 32.37%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 6400  | 6400  | 6310  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181277.SRDUP, 28.83%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2300  | 2300  | 2268  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181297.SRDUP, 25.49%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 48566  | 48566  | 47912  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181308.SRDUP, 32.23%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3800  | 3800  | 3747  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181313.SRDUP, 30.74%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 7000  | 7000  | 6901  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181330.SRDUP, 31.11%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 30085  | 30085  | 29675  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181331.SRDUP, 30.15%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2700  | 2700  | 2662  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181359.SRDUP, 28.76%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2300  | 2300  | 2268  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181364.SRDUP, 29.47%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5000  | 5000  | 4930  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181370.SRDUP, 30.02%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5500  | 5500  | 5423  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181372.SRDUP, 28.58%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1600  | 1600  | 1578  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181373.SRDUP, 27.49%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 36700  | 36700  | 36186  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181377.SRDUP, 31.96%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2200  | 2208  | 2169  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181399.SRDUP, 28.12%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 4600  | 4600  | 4536  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181403.SRDUP, 24.73%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5600  | 5600  | 5523  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181414.SRDUP, 26.00%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 8900  | 8900  | 8778  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181430.SRDUP, 28.98%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 7100  | 7100  | 7001  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181450.SRDUP, 29.77%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1558  | 1558  | 1558  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181455.SRDUP, 25.83%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 4900  | 4900  | 4832  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181461.SRDUP, 32.24%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 7500  | 7500  | 7395  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181466.SRDUP, 27.69%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2914  | 2914  | 2875  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181487.SRDUP, 31.95%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 1879  | 1879  | 1853  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **132** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5181496.SRDUP, 31.72%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | $6900  | $6900  | $6803  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186077.SRDUP, 22.05%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 20000  | 20000  | 19839  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186094.SRDUP, 22.14%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 9800  | 9800  | 9716  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186096.SRDUP, 20.65%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2300  | 2300  | 2281  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186167.SRDUP, 28.72%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1700  | 1700  | 1679  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186187.SRDUP, 27.40%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1000  | 1000  | 988  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186221.SRDUP, 30.18%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11300  | 11300  | 11157  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186374.SRDUP, 19.65%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 14000  | 14000  | 13889  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186400.SRDUP, 26.86%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 35000  | 35122  | 34569  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186404.SRDUP, 32.04%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 14400  | 14400  | 14219  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186488.SRDUP, 28.50%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1900  | 1900  | 1876  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186520.SRDUP, 28.85%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 9800  | 9800  | 9677  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186579.SRDUP, 30.83%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5900  | 5900  | 5826  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186650.SRDUP, 27.93%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5700  | 5700  | 5630  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186843.SRDUP, 31.96%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 32900  | 32900  | 32487  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186851.SRDUP, 13.88%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1100  | 1100  | 1096  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186916.SRDUP, 19.93%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2500  | 2509  | 2489  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5186917.SRDUP, 29.35%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4900  | 4900  | 4839  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187007.SRDUP, 16.03%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11000  | 11038  | 10956  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187054.SRDUP, 28.64%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1852  | 1852  | 1830  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187253.SRDUP, 26.05%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1500  | 1500  | 1487  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187366.SRDUP, 25.75%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3  | 3  | 3  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187437.SRDUP, 22.81%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1400  | 1400  | 1383  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187475.SRDUP, 30.59%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 6400  | 6400  | 6319  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187511.SRDUP, 28.86%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1100  | 1100  | 1086  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187584.SRDUP, 28.68%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1400  | 1400  | 1383  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187652.SRDUP, 22.84%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 26800  | 26800  | 26571  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187673.SRDUP, 23.88%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2200  | 2200  | 2182  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187690.SRDUP, 30.58%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 9200  | 9200  | 9085  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5187909.SRDUP, 32.33%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3000  | 3000  | 2962  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188085.SRDUP, 20.89%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4500  | 4500  | 4464  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188367.SRDUP, 29.11%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11900  | 11900  | 11750  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188582.SRDUP, 28.68%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4400  | 4400  | 4345  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188661.SRDUP, 25.72%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 7800  | 7800  | 7704  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188675.SRDUP, 24.64%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5700  | 5700  | 5631  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5188846.SRDUP, 31.93%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2700  | 2709  | 2666  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5189532.SRDUP, 30.76%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5900  | 5900  | 5825  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5190698.SRDUP, 28.64%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10600  | 10600  | 10469  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5190855.SRDUP, 29.04%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 4500  | 4500  | 4443  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5191628.SRDUP, 30.89%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3100  | 3100  | 3061  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5191856.SRDUP, 28.16%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1700  | 1700  | 1679  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5191885.SRDUP, 21.76%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3500  | 3500  | 3470  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5192340.SRDUP, 32.14%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 7900  | 7900  | 7801  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5193106.SRDUP, 27.26%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2600  | 2600  | 2578  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5193162.SRDUP, 31.63%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1600  | 1600  | 1580  |
| &nbsp;&nbsp;&nbsp;&nbsp; DRB5193218.SRDUP, 26.38%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 38000  | 38000  | 37527  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3284922.SRDUP, 15.01%, 5/20/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1079  | 1079  | 1093  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3290213.SRDUP, 20.68%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 8654  | 8654  | 8802  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3290686.SRDUP, 16.05%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 4575  | 4575  | 661  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3290902.SRDUP, 11.70%, 7/18/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 586  | 586  | 586  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291237.SRDUP, 11.78%, 12/28/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 17722  | 17722  | 4927  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291332.SRDUP, 25.05%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1603  | 1603  | 1649  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **133** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291622.SRDUP, 29.25%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | $1254  | $1254  | $1312  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291688.SRDUP, 14.61%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 6298  | 6298  | 6413  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291798.SRDUP, 22.35%, 7/19/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 829  | 829  | 822  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3291834.SRDUP, 20.73%, 12/19/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 314  | 314  | 308  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292015.SRDUP, 26.59%, 1/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 6478  | 6478  | 6803  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292022.SRDUP, 29.70%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 314  | 314  | 317  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292062.SRDUP, 23.70%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 5948  | 5948  | 6133  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292064.SRDUP, 29.51%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 932  | 932  | 973  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292078.SRDUP, 30.05%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1875  | 1875  | 402  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292131.SRDUP, 14.01%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 3005  | 3005  | 3062  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292176.SRDUP, 26.96%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 9209  | 9209  | 9636  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292200.SRDUP, 21.62%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1967  | 1967  | 2029  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292416.SRDUP, 29.82%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 2720  | 2720  | 2723  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292451.SRDUP, 15.45%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1744  | 1744  | 1776  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292504.SRDUP, 22.89%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1906  | 1906  | 1964  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292526.SRDUP, 20.12%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 5605  | 5605  | 5794  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3292579.SRDUP, 28.37%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 4977  | 4977  | 5206  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3293042.SRDUP, 14.56%, 7/20/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 299  | 299  | 298  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3293259.SRDUP, 29.68%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1636  | 1636  | 1714  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3294098.SRDUP, 29.96%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 2343  | 2343  | 2453  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3294918.SRDUP, 30.07%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 2778  | 2778  | 2906  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295083.SRDUP, 24.09%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 5735  | 5735  | 5992  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295093.SRDUP, 30.02%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1262  | 1262  | 1321  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295177.SRDUP, 13.33%, 12/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 21293  | 21350  | 21786  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295445.SRDUP, 26.80%, 7/20/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 237  | 237  | 237  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295540.SRDUP, 16.35%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 2424  | 2424  | 350  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295689.SRDUP, 18.90%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 3128  | 3128  | 3180  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295728.SRDUP, 30.02%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 10628  | 10628  | 2147  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295796.SRDUP, 22.23%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 6448  | 6448  | 6656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295797.SRDUP, 23.54%, 7/20/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1129  | 1129  | 1130  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295818.SRDUP, 13.96%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 2777  | 2777  | 2832  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3295846.SRDUP, 25.39%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 3023  | 3023  | 3117  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3296166.SRDUP, 29.81%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 655  | 655  | 673  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3296412.SRDUP, 24.47%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 2861  | 2861  | 2945  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3296419.SRDUP, 20.41%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 8346  | 8346  | 8634  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3296453.SRDUP, 29.73%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1333  | 1333  | 1395  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3297539.SRDUP, 30.06%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1685  | 1685  | 1762  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3297600.SRDUP, 24.00%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 835  | 835  | 862  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3297752.SRDUP, 29.53%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 740  | 740  | 773  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298130.SRDUP, 10.14%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 9232  | 9232  | 9380  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298144.SRDUP, 24.93%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 3371  | 3371  | 3478  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298166.SRDUP, 29.20%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 641  | 641  | 630  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298271.SRDUP, 29.20%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1065  | 1065  | 1116  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298285.SRDUP, 17.19%, 12/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 3413  | 3413  | 3482  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298288.SRDUP, 21.61%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1758  | 1758  | 1733  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298309.SRDUP, 23.61%, 7/21/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 375  | 375  | 372  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298360.SRDUP, 17.54%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 8372  | 8372  | 8528  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298471.SRDUP, 16.19%, 7/21/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 6464  | 6464  | 933  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298486.SRDUP, 24.13%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1493  | 1493  | 1541  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298488.SRDUP, 29.77%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 644  | 644  | 669  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298492.SRDUP, 23.33%, 7/21/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 563  | 563  | 562  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298513.SRDUP, 16.72%, 7/21/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 340  | 340  | 49  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **134** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298539.SRDUP, 9.98%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | $4536  | $4536  | $4607  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298544.SRDUP, 26.53%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 2460  | 2460  | 355  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298546.SRDUP, 30.05%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 790  | 790  | 825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298605.SRDUP, 29.81%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 693  | 693  | 725  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298624.SRDUP, 29.97%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 883  | 883  | 924  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298637.SRDUP, 24.42%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 5984  | 5984  | 6271  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298685.SRDUP, 17.06%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 441  | 441  | 442  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3298714.SRDUP, 11.53%, 7/21/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 818  | 818  | 818  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3300534.SRDUP, 29.83%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 756  | 756  | 792  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301471.SRDUP, 28.94%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 685  | 685  | 697  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301605.SRDUP, 18.56%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1961  | 1961  | 1998  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301624.SRDUP, 29.92%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 626  | 626  | 656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301691.SRDUP, 30.02%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 635  | 635  | 662  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301788.SRDUP, 29.88%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 5282  | 5282  | 5527  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301790.SRDUP, 19.30%, 7/22/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 62  | 62  | 62  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301807.SRDUP, 29.91%, 5/22/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2855  | 2855  | 961  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301848.SRDUP, 29.95%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1430  | 1430  | 322  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301910.SRDUP, 27.83%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 7081  | 7081  | 7412  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3301977.SRDUP, 28.81%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 13677  | 13677  | 14110  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302043.SRDUP, 30.03%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1689  | 1689  | 1695  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302178.SRDUP, 20.72%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 12747  | 12747  | 12976  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302296.SRDUP, 27.44%, 12/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 13518  | 13517  | 2943  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302465.SRDUP, 29.11%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 9326  | 9326  | 9771  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302502.SRDUP, 29.44%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 9416  | 9416  | 9863  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302563.SRDUP, 16.90%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2850  | 2850  | 2887  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302576.SRDUP, 23.40%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1370  | 1370  | 1415  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302594.SRDUP, 27.14%, 12/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 16344  | 16344  | 15892  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302613.SRDUP, 19.85%, 7/22/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 543  | 543  | 543  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302659.SRDUP, 28.21%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 3414  | 3414  | 3578  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302687.SRDUP, 12.86%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 13562  | 13562  | 13813  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302708.SRDUP, 17.05%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2777  | 2777  | 2830  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302733.SRDUP, 26.10%, 12/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 3635  | 3644  | 3761  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302793.SRDUP, 29.58%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2516  | 2516  | 2636  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302804.SRDUP, 14.21%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 13519  | 13519  | 13787  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302856.SRDUP, 29.85%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 5538  | 5538  | 5453  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302922.SRDUP, 29.90%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 820  | 820  | 858  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302940.SRDUP, 27.54%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1234  | 1234  | 1293  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3302981.SRDUP, 25.78%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2184  | 2184  | 2290  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3303183.SRDUP, 30.04%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2014  | 2014  | 2102  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3303289.SRDUP, 24.61%, 7/22/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 115  | 115  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3303338.SRDUP, 29.27%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1253  | 1253  | 1313  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304498.SRDUP, 13.39%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 4349  | 4349  | 4415  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304530.SRDUP, 26.00%, 7/25/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 262  | 262  | 262  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304565.SRDUP, 17.02%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 5550  | 5550  | 5659  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304599.SRDUP, 29.90%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 694  | 694  | 728  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304678.SRDUP, 22.28%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 11625  | 11625  | 12048  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304684.SRDUP, 24.32%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 3710  | 3710  | 3827  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304697.SRDUP, 29.98%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 947  | 947  | 994  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3304771.SRDUP, 20.26%, 12/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 3691  | 3691  | 3833  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305012.SRDUP, 29.80%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 820  | 820  | 843  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305037.SRDUP, 29.85%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 727  | 727  | 753  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305094.SRDUP, 27.38%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 6162  | 6173  | 6469  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **135** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305173.SRDUP, 29.89%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | $945  | $945  | $992  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305175.SRDUP, 29.64%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 1824  | 1824  | 1914  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305224.SRDUP, 26.42%, 12/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4741  | 4741  | 5003  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305228.SRDUP, 24.48%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 11988  | 11988  | 12392  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305296.SRDUP, 30.06%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 871  | 871  | 912  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305337.SRDUP, 25.56%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 9688  | 9688  | 10010  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305370.SRDUP, 25.89%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 1397  | 1397  | 1468  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305447.SRDUP, 17.58%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 3128  | 3128  | 3189  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305451.SRDUP, 15.13%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 5304  | 5304  | 5409  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305654.SRDUP, 14.13%, 5/25/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 32749  | 32749  | 33481  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305698.SRDUP, 26.31%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 8175  | 8175  | 8444  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3305845.SRDUP, 24.69%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 14803  | 14803  | 2138  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3308055.SRDUP, 27.97%, 7/28/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1619  | 1619  | 1678  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3308699.SRDUP, 10.39%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 30105  | 30105  | 30711  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3308999.SRDUP, 18.40%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 29880  | 29880  | 9038  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309430.SRDUP, 30.02%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1894  | 1894  | 1988  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309519.SRDUP, 29.75%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1448  | 1448  | 1520  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309589.SRDUP, 29.95%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2841  | 2841  | 2932  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309638.SRDUP, 29.61%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2076  | 2076  | 2180  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309698.SRDUP, 23.08%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1027  | 1027  | 1063  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309707.SRDUP, 25.32%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1510  | 1510  | 1587  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309708.SRDUP, 25.54%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4980  | 4980  | 5248  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309744.SRDUP, 29.94%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2055  | 2055  | 297  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309749.SRDUP, 29.42%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 754  | 754  | 792  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309752.SRDUP, 27.05%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3643  | 3643  | 3824  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309804.SRDUP, 29.62%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 960  | 960  | 1009  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309830.SRDUP, 14.70%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4097  | 4097  | 852  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309864.SRDUP, 19.92%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 6866  | 6866  | 7120  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309870.SRDUP, 21.93%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 966  | 966  | 1001  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3309963.SRDUP, 16.93%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 9261  | 9277  | 9445  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310027.SRDUP, 29.97%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1470  | 1470  | 212  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310226.SRDUP, 15.16%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1897  | 1897  | 1936  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310524.SRDUP, 13.89%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2411  | 2411  | 2461  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310561.SRDUP, 28.85%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1437  | 1437  | 1509  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310566.SRDUP, 24.90%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1226  | 1226  | 1264  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310610.SRDUP, 26.76%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3958  | 3958  | 1269  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310700.SRDUP, 14.47%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3021  | 3021  | 3083  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310751.SRDUP, 17.51%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2770  | 2775  | 2825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310815.SRDUP, 29.68%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 692  | 692  | 727  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310837.SRDUP, 25.22%, 5/26/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 18234  | 18234  | 18972  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310844.SRDUP, 11.20%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2909  | 2909  | 2956  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310852.SRDUP, 29.35%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 629  | 629  | 91  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310909.SRDUP, 27.36%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1947  | 1947  | 660  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3310939.SRDUP, 23.96%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2101  | 2101  | 2150  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312100.SRDUP, 29.81%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1284  | 1284  | 1309  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312129.SRDUP, 16.47%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1504  | 1504  | 311  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312164.SRDUP, 29.79%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 5368  | 5368  | 5640  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312235.SRDUP, 19.25%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2842  | 2842  | 2949  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312370.SRDUP, 29.17%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2099  | 2102  | 2169  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312406.SRDUP, 15.10%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2952  | 2952  | 426  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312420.SRDUP, 29.93%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 534  | 534  | 556  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312437.SRDUP, 29.29%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1652  | 1652  | 1733  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **136** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312467.SRDUP, 20.17%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | $7006  | $7006  | $7142  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312527.SRDUP, 22.46%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1120  | 1120  | 1157  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312539.SRDUP, 18.94%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 5664  | 5664  | 5878  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312739.SRDUP, 22.49%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2939  | 2939  | 3046  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312742.SRDUP, 26.16%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 7650  | 7650  | 7909  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312758.SRDUP, 25.16%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1237  | 1237  | 179  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312768.SRDUP, 26.81%, 7/27/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 427  | 427  | 429  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312883.SRDUP, 26.26%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 6097  | 6097  | 6410  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3312945.SRDUP, 12.26%, 7/27/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 164  | 164  | 164  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3316977.SRDUP, 25.55%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1798  | 1765  | 1862  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3316990.SRDUP, 29.27%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 41  | 39  | 39  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3318619.SRDUP, 29.34%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1092  | 1071  | 1133  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319830.SRDUP, 30.07%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 6485  | 6290  | 936  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319835.SRDUP, 30.05%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 849  | 824  | 880  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319846.SRDUP, 29.67%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 9599  | 9415  | 9947  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319852.SRDUP, 18.95%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2914  | 2864  | 2997  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319854.SRDUP, 18.55%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 20314  | 19967  | 20891  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319891.SRDUP, 20.94%, 8/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 175  | 174  | 174  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319916.SRDUP, 29.04%, 8/16/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 3241  | 3179  | 3362  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319942.SRDUP, 28.69%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2236  | 2194  | 2318  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319965.SRDUP, 30.01%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2643  | 2588  | 2742  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3319980.SRDUP, 30.04%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1228  | 1204  | 1258  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320007.SRDUP, 30.02%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 511  | 501  | 524  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320060.SRDUP, 25.75%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1378  | 1346  | 1427  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320064.SRDUP, 21.53%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 4749  | 4666  | 4813  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320075.SRDUP, 26.11%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 3496  | 3432  | 3626  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320104.SRDUP, 24.09%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 9194  | 9028  | 9414  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320139.SRDUP, 25.88%, 6/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 7171  | 6962  | 7377  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320176.SRDUP, 18.62%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 9107  | 8834  | 2580  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320200.SRDUP, 29.91%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1680  | 1647  | 1741  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320202.SRDUP, 30.03%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2541  | 2491  | 2603  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320223.SRDUP, 27.37%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 631  | 620  | 655  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320235.SRDUP, 29.81%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2926  | 2870  | 3038  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320254.SRDUP, 29.86%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1097  | 1076  | 1137  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320295.SRDUP, 30.02%, 1/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 2504  | 2431  | 2570  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320337.SRDUP, 26.24%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 8853  | 8691  | 9037  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320406.SRDUP, 29.80%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 840  | 823  | 870  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3320408.SRDUP, 26.48%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1441  | 1414  | 1474  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3321322.SRDUP, 25.00%, 8/4/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3590  | 3482  | 3567  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3322508.SRDUP, 19.84%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2940  | 2889  | 2981  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3323459.SRDUP, 17.33%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 28188  | 27342  | 28589  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3323950.SRDUP, 27.81%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2663  | 2584  | 1633  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324067.SRDUP, 29.80%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 688  | 675  | 705  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324396.SRDUP, 29.35%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2305  | 2262  | 2389  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324853.SRDUP, 10.84%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 35641  | 34624  | 5147  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324933.SRDUP, 29.97%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1163  | 1138  | 1206  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324961.SRDUP, 24.73%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2021  | 1980  | 2097  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3324995.SRDUP, 15.14%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1960  | 1928  | 1989  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325052.SRDUP, 13.20%, 8/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 369  | 368  | 368  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325086.SRDUP, 29.87%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1613  | 1582  | 1673  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325207.SRDUP, 30.07%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1385  | 1358  | 1438  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325256.SRDUP, 30.05%, 1/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1336  | 1306  | 1389  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **137** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325340.SRDUP, 29.99%, 8/17/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | $28185  | $27375  | $29266  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325509.SRDUP, 14.84%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 11252  | 10919  | 11424  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325593.SRDUP, 26.71%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 7534  | 7394  | 7817  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325611.SRDUP, 15.94%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1615  | 1588  | 1637  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325648.SRDUP, 24.67%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1363  | 1338  | 1397  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3325668.SRDUP, 26.99%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 7238  | 7103  | 7509  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3327976.SRDUP, 27.35%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2128  | 2093  | 2202  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3327988.SRDUP, 25.41%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1008  | 990  | 1048  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3327990.SRDUP, 29.47%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3607  | 3521  | 3747  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328140.SRDUP, 29.18%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 700  | 682  | 726  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328185.SRDUP, 15.82%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 204  | 203  | 203  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328211.SRDUP, 23.94%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3396  | 3329  | 3482  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328235.SRDUP, 28.15%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 614  | 595  | 132  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328364.SRDUP, 13.16%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3807  | 3746  | 3870  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328491.SRDUP, 11.48%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1667  | 1641  | 1692  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328577.SRDUP, 24.90%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 6032  | 5922  | 6251  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328582.SRDUP, 21.75%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 360  | 358  | 357  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328589.SRDUP, 29.59%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1177  | 1154  | 1222  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328594.SRDUP, 26.16%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3450  | 3346  | 1091  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328756.SRDUP, 20.86%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5893  | 5789  | 5968  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3328999.SRDUP, 16.13%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 566  | 556  | 574  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329317.SRDUP, 16.80%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 206  | 206  | 205  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329332.SRDUP, 26.46%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 8395  | 8238  | 8595  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329339.SRDUP, 26.91%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 390  | 389  | 388  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329383.SRDUP, 29.72%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3340  | 3240  | 1052  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329402.SRDUP, 29.78%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1226  | 1202  | 1272  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329588.SRDUP, 11.34%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 435  | 433  | 433  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3329630.SRDUP, 29.93%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5329  | 5227  | 5526  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3330488.SRDUP, 30.01%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1810  | 1775  | 1879  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3330594.SRDUP, 18.05%, 8/4/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 709  | 703  | 706  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3330687.SRDUP, 27.66%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 19061  | 18703  | 19797  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331079.SRDUP, 30.01%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1745  | 1711  | 1811  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331251.SRDUP, 20.33%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2068  | 2032  | 2128  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331257.SRDUP, 16.10%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 4638  | 4570  | 4706  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331303.SRDUP, 26.00%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1747  | 1714  | 1793  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331448.SRDUP, 22.67%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 4232  | 4156  | 4340  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331621.SRDUP, 29.83%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2388  | 2342  | 2479  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331708.SRDUP, 12.35%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3988  | 3917  | 4018  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331716.SRDUP, 15.29%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 10216  | 10047  | 10376  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331725.SRDUP, 26.15%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 875  | 860  | 898  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331760.SRDUP, 28.02%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3913  | 3838  | 4045  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331788.SRDUP, 26.08%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 749  | 735  | 767  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331907.SRDUP, 30.07%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 783  | 762  | 814  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331977.SRDUP, 16.55%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1592  | 1565  | 1616  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3331979.SRDUP, 19.05%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3209  | 3154  | 3255  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332008.SRDUP, 26.27%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 876  | 859  | 897  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332086.SRDUP, 29.89%, 1/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1969  | 1913  | 2022  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332210.SRDUP, 29.87%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 839  | 823  | 871  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332213.SRDUP, 30.02%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1292  | 1267  | 1341  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332232.SRDUP, 25.14%, 1/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 12418  | 12048  | 6841  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332235.SRDUP, 29.08%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 705  | 692  | 732  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332281.SRDUP, 29.98%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 904  | 887  | 939  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **138** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332296.SRDUP, 18.25%, 8/4/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | $903  | $894  | $897  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332326.SRDUP, 26.16%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2038  | 1995  | 2086  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332338.SRDUP, 17.03%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 28593  | 28022  | 29021  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3332427.SRDUP, 22.31%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2410  | 2372  | 2473  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334241.SRDUP, 25.18%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2786  | 2735  | 2897  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334502.SRDUP, 29.93%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5173  | 5061  | 5373  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334881.SRDUP, 27.43%, 8/5/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 768  | 745  | 111  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334909.SRDUP, 29.54%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2961  | 2904  | 3037  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334948.SRDUP, 29.94%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 3164  | 3103  | 3286  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334972.SRDUP, 30.04%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 8095  | 7866  | 8413  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334977.SRDUP, 24.24%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 20495  | 20122  | 21021  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3334990.SRDUP, 14.73%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 12431  | 12226  | 12629  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335053.SRDUP, 15.38%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 406  | 404  | 403  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335083.SRDUP, 20.95%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2599  | 2547  | 2679  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335097.SRDUP, 27.02%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 10880  | 10684  | 11332  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335207.SRDUP, 26.84%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 553  | 537  | 566  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335227.SRDUP, 27.63%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 4658  | 4518  | 1434  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335339.SRDUP, 24.77%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5530  | 5381  | 5697  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335380.SRDUP, 29.91%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 4113  | 3990  | 1311  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335386.SRDUP, 30.08%, 8/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2943  | 2888  | 3069  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3335412.SRDUP, 27.67%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 823  | 808  | 855  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336648.SRDUP, 22.91%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3515  | 3452  | 3612  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336660.SRDUP, 27.43%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3159  | 3099  | 3288  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336667.SRDUP, 29.74%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3214  | 3149  | 3327  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336668.SRDUP, 29.34%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 822  | 801  | 854  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336867.SRDUP, 29.69%, 1/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1612  | 1564  | 333  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336885.SRDUP, 29.07%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1003  | 984  | 1039  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336986.SRDUP, 29.53%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 906  | 879  | 194  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3336989.SRDUP, 25.23%, 6/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3764  | 3651  | 1173  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337303.SRDUP, 6.00%, 8/23/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 13710  | 13487  | 13217  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337412.SRDUP, 11.40%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 18539  | 18244  | 18886  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337420.SRDUP, 29.30%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1892  | 1855  | 1966  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337494.SRDUP, 19.77%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 11755  | 11550  | 12115  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337548.SRDUP, 25.39%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1489  | 1461  | 1528  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337554.SRDUP, 21.23%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1006  | 989  | 1037  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337613.SRDUP, 29.37%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1095  | 1062  | 1140  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337658.SRDUP, 27.81%, 8/23/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3811  | 3727  | 3968  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337731.SRDUP, 17.92%, 1/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 5970  | 5792  | 3076  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337761.SRDUP, 29.82%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1483  | 1455  | 1543  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337781.SRDUP, 27.26%, 8/23/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 9769  | 9504  | 9730  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3337966.SRDUP, 29.69%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 452  | 438  | 451  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3340271.SRDUP, 29.62%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 837  | 821  | 872  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3340712.SRDUP, 29.63%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1106  | 1084  | 1152  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341295.SRDUP, 29.62%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1288  | 1266  | 1341  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341443.SRDUP, 29.93%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 776  | 760  | 807  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341659.SRDUP, 28.27%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 27351  | 26530  | 3949  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341803.SRDUP, 20.81%, 8/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 550  | 548  | 548  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341835.SRDUP, 9.73%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1212  | 1193  | 1232  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341855.SRDUP, 18.78%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2269  | 2230  | 2305  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341867.SRDUP, 25.00%, 8/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 227  | 226  | 226  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3341930.SRDUP, 17.77%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 4015  | 3946  | 4079  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342031.SRDUP, 27.21%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3145  | 3051  | 454  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **139** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342056.SRDUP, 23.13%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | $6073  | $5963  | $6243  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342131.SRDUP, 29.91%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1807  | 1772  | 1845  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342160.SRDUP, 28.38%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 10831  | 10650  | 11280  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342276.SRDUP, 22.57%, 8/24/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 5604  | 5503  | 5778  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342306.SRDUP, 23.18%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 608  | 597  | 626  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342326.SRDUP, 24.44%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 5686  | 5582  | 5825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342367.SRDUP, 23.52%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6706  | 6584  | 6892  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342389.SRDUP, 30.07%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 9505  | 9322  | 9895  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342476.SRDUP, 24.31%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1812  | 1779  | 1887  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342496.SRDUP, 29.87%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1257  | 1221  | 1304  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342498.SRDUP, 18.28%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 9665  | 9499  | 9820  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342503.SRDUP, 18.53%, 8/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 589  | 571  | 587  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342541.SRDUP, 10.19%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1375  | 1355  | 1394  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342553.SRDUP, 29.90%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1619  | 1579  | 1686  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342569.SRDUP, 20.93%, 1/9/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 283  | 279  | 283  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342621.SRDUP, 29.85%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6095  | 5925  | 6329  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342637.SRDUP, 29.79%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1355  | 1329  | 1410  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342751.SRDUP, 23.38%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 35444  | 34504  | 5118  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3342780.SRDUP, 26.32%, 8/24/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 18411  | 17868  | 18954  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3343084.SRDUP, 25.43%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1143  | 1109  | 96  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3343213.SRDUP, 30.01%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1680  | 1647  | 1723  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3343707.SRDUP, 29.96%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 711  | 697  | 740  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3343908.SRDUP, 30.06%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1228  | 1205  | 1279  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344152.SRDUP, 21.48%, 8/10/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 727  | 724  | 725  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344219.SRDUP, 28.72%, 1/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 8157  | 7919  | 8381  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344314.SRDUP, 21.81%, 8/12/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 5402  | 5305  | 5568  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344357.SRDUP, 29.80%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1742  | 1708  | 1814  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344364.SRDUP, 22.98%, 8/12/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2671  | 2629  | 2748  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344378.SRDUP, 20.97%, 8/10/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 289  | 288  | 289  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344392.SRDUP, 19.81%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 3156  | 3101  | 3255  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344411.SRDUP, 22.74%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1258  | 1225  | 182  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344412.SRDUP, 25.99%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2485  | 2411  | 2552  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344502.SRDUP, 29.84%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1162  | 1139  | 1210  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344583.SRDUP, 29.04%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 706  | 692  | 735  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344806.SRDUP, 29.85%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 645  | 633  | 672  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344875.SRDUP, 25.66%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 6236  | 6058  | 6503  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344919.SRDUP, 29.98%, 1/25/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 11330  | 10998  | 11656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344925.SRDUP, 29.69%, 1/25/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 3847  | 3731  | 3865  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3344973.SRDUP, 24.83%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2283  | 2246  | 2346  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345025.SRDUP, 19.93%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 707  | 694  | 718  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345027.SRDUP, 16.18%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2858  | 2810  | 2907  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345036.SRDUP, 27.15%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 4071  | 3994  | 4220  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345070.SRDUP, 29.93%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1076  | 1044  | 1116  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345093.SRDUP, 15.65%, 1/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 40331  | 39121  | 7783  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345108.SRDUP, 21.17%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1192  | 1171  | 1228  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345143.SRDUP, 22.63%, 8/10/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 625  | 623  | 623  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3345176.SRDUP, 25.55%, 1/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 15445  | 14981  | 4817  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3373195.SRDUP, 26.30%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1794  | 1760  | 1864  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3382367.SRDUP, 33.18%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1695  | 1664  | 1757  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3383096.SRDUP, 17.73%, 9/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 172  | 171  | 171  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3389292.SRDUP, 29.40%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1486  | 1452  | 1534  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391086.SRDUP, 34.10%, 9/1/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2023 | 9500  | 9215  | 1372  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **140** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391331.SRDUP, 26.82%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | $2163  | $2106  | $1260  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391334.SRDUP, 33.66%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 2245  | 2199  | 2327  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391367.SRDUP, 14.88%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 9424  | 9264  | 9569  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391392.SRDUP, 29.37%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1118  | 1096  | 1143  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391398.SRDUP, 30.65%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1794  | 1758  | 1860  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391463.SRDUP, 34.41%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 4970  | 4864  | 5134  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391536.SRDUP, 33.17%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1565  | 1523  | 1622  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391565.SRDUP, 21.35%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1044  | 1025  | 1057  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391607.SRDUP, 17.95%, 9/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 174  | 170  | 173  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391636.SRDUP, 20.85%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1230  | 1196  | 1265  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391682.SRDUP, 33.15%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 2439  | 2390  | 2529  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391781.SRDUP, 24.51%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 3233  | 3173  | 3304  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391879.SRDUP, 21.68%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 5419  | 5257  | 502  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391946.SRDUP, 32.48%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 889  | 867  | 910  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391950.SRDUP, 20.01%, 2/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 33411  | 32728  | 34409  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391954.SRDUP, 29.05%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 983  | 953  | 205  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3391960.SRDUP, 19.15%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 5224  | 5067  | 754  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3392065.SRDUP, 29.97%, 9/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1790  | 1755  | 1830  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3392163.SRDUP, 28.84%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1015  | 995  | 1052  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3392184.SRDUP, 17.03%, 9/15/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 5693  | 5523  | 822  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393350.SRDUP, 26.53%, 9/15/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 2920  | 2857  | 2993  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393442.SRDUP, 11.33%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 5533  | 5443  | 5617  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393816.SRDUP, 31.66%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 11318  | 11092  | 11743  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393823.SRDUP, 29.39%, 9/16/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 25712  | 24940  | 26327  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393879.SRDUP, 23.64%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 555  | 545  | 552  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393906.SRDUP, 31.57%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 419  | 417  | 417  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393921.SRDUP, 23.46%, 2/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1417  | 1376  | 1460  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3393950.SRDUP, 33.75%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 3370  | 3269  | 487  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394115.SRDUP, 25.53%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1273  | 1249  | 1323  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394194.SRDUP, 18.07%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 7000  | 6790  | 1011  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394345.SRDUP, 31.44%, 2/17/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 27212  | 26536  | 25020  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394390.SRDUP, 27.09%, 9/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 3612  | 3542  | 3656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394585.SRDUP, 31.57%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 937  | 919  | 972  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394733.SRDUP, 29.28%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 976  | 972  | 971  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394775.SRDUP, 34.16%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 4507  | 4415  | 4673  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3394816.SRDUP, 29.97%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 2253  | 2209  | 2335  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3395002.SRDUP, 27.44%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1421  | 1378  | 205  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3395077.SRDUP, 33.93%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1577  | 1530  | 228  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3395232.SRDUP, 29.72%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 7218  | 7001  | 1508  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3395244.SRDUP, 34.35%, 9/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 4521  | 4386  | 941  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3399302.SRDUP, 10.61%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 26240  | 25814  | 26653  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401114.SRDUP, 34.00%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 2922  | 2860  | 3043  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401125.SRDUP, 26.30%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 2772  | 2715  | 2787  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401342.SRDUP, 27.85%, 9/6/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 426  | 424  | 424  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401732.SRDUP, 34.63%, 9/15/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 9550  | 9266  | 9488  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401741.SRDUP, 32.70%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 1564  | 1532  | 1627  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3401844.SRDUP, 13.55%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 660  | 649  | 667  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402005.SRDUP, 33.56%, 9/6/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 2037  | 1977  | 2114  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402261.SRDUP, 34.43%, 2/15/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 5932  | 5764  | 5707  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402447.SRDUP, 15.12%, 10/6/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 613  | 595  | 89  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402478.SRDUP, 34.66%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 8022  | 7858  | 8337  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402560.SRDUP, 29.71%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 16066  | 15751  | 16712  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **141** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3402647.SRDUP, 18.09%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | $16207  | $15921  | $16461  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3479023.SRDUP, 29.93%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1615  | 1578  | 1689  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499323.SRDUP, 24.17%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1193  | 1157  | 108  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499342.SRDUP, 29.93%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4169  | 4097  | 4340  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499634.SRDUP, 24.31%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1486  | 1457  | 1533  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499709.SRDUP, 23.87%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1078  | 1047  | 1110  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499772.SRDUP, 28.67%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5225  | 5120  | 5468  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499818.SRDUP, 19.72%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2108  | 2069  | 2178  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499839.SRDUP, 29.37%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1011  | 990  | 1057  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499853.SRDUP, 29.93%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1679  | 1629  | 548  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499856.SRDUP, 26.88%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 745  | 727  | 759  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499876.SRDUP, 23.10%, 3/13/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 28673  | 28084  | 29692  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499879.SRDUP, 17.31%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4713  | 4638  | 4799  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499882.SRDUP, 25.15%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2703  | 2686  | 2702  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499923.SRDUP, 29.63%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4387  | 4298  | 4590  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3499968.SRDUP, 19.82%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2471  | 2425  | 2555  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500039.SRDUP, 29.98%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 880  | 864  | 921  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500053.SRDUP, 6.00%, 10/13/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 390  | 388  | 389  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500123.SRDUP, 27.89%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7541  | 7330  | 7857  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500131.SRDUP, 15.16%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 23148  | 22453  | 3343  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500211.SRDUP, 12.15%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 6120  | 6020  | 6242  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500283.SRDUP, 29.57%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1080  | 1058  | 1112  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500298.SRDUP, 29.50%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 742  | 729  | 776  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500327.SRDUP, 29.67%, 10/16/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 10557  | 10334  | 11046  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500335.SRDUP, 26.54%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2639  | 2586  | 2720  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500340.SRDUP, 23.58%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1299  | 1291  | 1299  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500342.SRDUP, 20.29%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 15589  | 15181  | 16107  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500372.SRDUP, 23.00%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 8558  | 8414  | 8836  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500397.SRDUP, 29.48%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2698  | 2644  | 2823  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500398.SRDUP, 16.89%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1220  | 1214  | 1215  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500435.SRDUP, 29.64%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1283  | 1257  | 1342  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500464.SRDUP, 25.56%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 478  | 475  | 478  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500490.SRDUP, 26.51%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 8246  | 8084  | 8618  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500523.SRDUP, 27.39%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2081  | 2019  | 631  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500536.SRDUP, 12.55%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 8310  | 8167  | 8476  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500545.SRDUP, 28.98%, 3/28/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 23931  | 23213  | 4762  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500552.SRDUP, 23.27%, 10/13/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4386  | 4254  | 633  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500553.SRDUP, 27.33%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 433  | 430  | 432  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500560.SRDUP, 28.60%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 14725  | 14430  | 15398  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500575.SRDUP, 25.61%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3923  | 3854  | 4046  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500603.SRDUP, 29.08%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 10082  | 9879  | 10550  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500616.SRDUP, 18.76%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3117  | 3099  | 3118  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500621.SRDUP, 29.79%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1285  | 1259  | 1344  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500625.SRDUP, 27.39%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 250  | 249  | 250  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500736.SRDUP, 30.01%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 824  | 803  | 851  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500761.SRDUP, 22.35%, 10/13/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 988  | 980  | 989  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500778.SRDUP, 26.15%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1113  | 1105  | 1113  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500921.SRDUP, 12.21%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 444  | 442  | 444  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500941.SRDUP, 22.77%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1149  | 1128  | 1186  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500943.SRDUP, 27.44%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7430  | 7283  | 7656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3500951.SRDUP, 29.33%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3484  | 3380  | 3482  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501022.SRDUP, 11.80%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 25487  | 25052  | 26019  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **142** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501027.SRDUP, 27.51%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | $12541  | $12321  | $13129  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501054.SRDUP, 27.15%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7279  | 7135  | 7621  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501080.SRDUP, 28.48%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 27559  | 27007  | 28844  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501100.SRDUP, 22.14%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 11263  | 11050  | 11438  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501118.SRDUP, 28.50%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2989  | 2929  | 3127  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501142.SRDUP, 29.97%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 647  | 634  | 669  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501197.SRDUP, 29.09%, 3/22/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 945  | 917  | 929  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501227.SRDUP, 30.05%, 8/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2574  | 2496  | 186  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501229.SRDUP, 26.78%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7477  | 7261  | 7834  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501258.SRDUP, 29.73%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 743  | 728  | 778  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501262.SRDUP, 29.26%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2019  | 1979  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501295.SRDUP, 29.80%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1342  | 1315  | 1404  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501308.SRDUP, 28.56%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3379  | 3312  | 3489  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501310.SRDUP, 29.70%, 10/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 829  | 810  | 828  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3501329.SRDUP, 27.65%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5970  | 5852  | 6249  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541734.SRDUP, 29.95%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4137  | 4052  | 4353  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541759.SRDUP, 28.62%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 3641  | 3532  | 761  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541761.SRDUP, 24.28%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 3309  | 3241  | 3407  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541847.SRDUP, 28.38%, 11/15/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1671  | 1621  | 153  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541863.SRDUP, 22.30%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4594  | 4459  | 4713  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541903.SRDUP, 20.10%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 3504  | 3446  | 3600  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541940.SRDUP, 27.95%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 620  | 603  | 649  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541987.SRDUP, 26.90%, 4/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 8748  | 8548  | 9006  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3541991.SRDUP, 33.42%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1984  | 1947  | 2083  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542009.SRDUP, 26.08%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 13409  | 13142  | 14121  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542010.SRDUP, 25.74%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1337  | 1310  | 1408  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542062.SRDUP, 27.08%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 496  | 493  | 496  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542156.SRDUP, 24.72%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 33154  | 32502  | 34123  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542159.SRDUP, 22.35%, 11/1/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1051  | 1042  | 1047  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542218.SRDUP, 28.57%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1186  | 1151  | 249  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542288.SRDUP, 21.13%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 5497  | 5392  | 5550  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542290.SRDUP, 29.36%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 756  | 741  | 777  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542294.SRDUP, 29.73%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 646  | 630  | 662  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542332.SRDUP, 25.85%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 5353  | 5247  | 5507  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542352.SRDUP, 25.74%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 3158  | 3096  | 3314  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542370.SRDUP, 25.35%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 513  | 510  | 514  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542396.SRDUP, 17.86%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 19692  | 19101  | 10213  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542407.SRDUP, 24.57%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 8621  | 8472  | 8874  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542470.SRDUP, 28.64%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 4310  | 4222  | 4537  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542479.SRDUP, 29.50%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 757  | 742  | 797  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542538.SRDUP, 28.16%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 2590  | 2537  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542603.SRDUP, 27.86%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 6100  | 5974  | 6420  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542644.SRDUP, 28.00%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1226  | 1201  | 1260  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542659.SRDUP, 27.95%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1386  | 1353  | 1460  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542662.SRDUP, 12.00%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1770  | 1740  | 1807  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542669.SRDUP, 28.32%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 15224  | 14913  | 15641  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542728.SRDUP, 27.25%, 11/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1877  | 1835  | 1903  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542735.SRDUP, 12.79%, 11/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1513  | 1504  | 1509  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542770.SRDUP, 28.90%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 12471  | 12246  | 13071  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542860.SRDUP, 17.01%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 3098  | 3042  | 3142  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542869.SRDUP, 17.18%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 9365  | 9150  | 9496  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542901.SRDUP, 29.75%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1518  | 1490  | 1597  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **143** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542904.SRDUP, 29.17%, 11/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | $3591  | $3496  | $519  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542919.SRDUP, 22.51%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1496  | 1467  | 1536  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542920.SRDUP, 27.40%, 11/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 166  | 165  | 165  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542964.SRDUP, 25.68%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 3341  | 3275  | 3522  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542972.SRDUP, 14.72%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 4010  | 3931  | 4070  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542975.SRDUP, 25.31%, 4/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1780  | 1757  | 1786  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3542980.SRDUP, 20.84%, 4/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 20159  | 19578  | 20393  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3543018.SRDUP, 29.18%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1030  | 1009  | 1041  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3543054.SRDUP, 25.59%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 19500  | 19113  | 20070  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3543067.SRDUP, 23.02%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1307  | 1282  | 1342  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3543119.SRDUP, 25.49%, 11/17/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1214  | 1178  | 175  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3903662.SRDUP, 25.51%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 23912  | 23793  | 4668  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3904151.SRDUP, 28.76%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 26212  | 26081  | 24995  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909774.SRDUP, 28.77%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 888  | 885  | 894  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909790.SRDUP, 28.77%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 989  | 984  | 543  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909817.SRDUP, 14.88%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11582  | 11533  | 11691  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909823.SRDUP, 25.67%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1350  | 1345  | 1362  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909828.SRDUP, 22.21%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 19887  | 19812  | 20114  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909839.SRDUP, 27.74%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 802  | 798  | 800  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909860.SRDUP, 26.63%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11337  | 11293  | 11457  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909883.SRDUP, 24.85%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2046  | 2036  | 2026  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909903.SRDUP, 27.62%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 893  | 890  | 901  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909923.SRDUP, 20.92%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 26367  | 26268  | 26718  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909927.SRDUP, 28.85%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 980  | 975  | 944  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909942.SRDUP, 26.74%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11966  | 11919  | 12127  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3909983.SRDUP, 28.28%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 21982  | 21897  | 22138  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910012.SRDUP, 23.49%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1587  | 1581  | 1607  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910025.SRDUP, 17.69%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5004  | 4985  | 5050  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910054.SRDUP, 28.39%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3706  | 3692  | 3732  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910073.SRDUP, 28.67%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 6454  | 6429  | 6499  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910114.SRDUP, 16.81%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1520  | 1516  | 1501  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910117.SRDUP, 28.02%, 1/17/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2271  | 2260  | 2079  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910145.SRDUP, 25.69%, 1/8/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 16945  | 16860  | 16882  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910149.SRDUP, 22.37%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2893  | 2886  | 2887  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910150.SRDUP, 24.55%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2669  | 2662  | 2643  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910153.SRDUP, 28.37%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1147  | 1142  | 1144  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910184.SRDUP, 28.77%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 806  | 803  | 816  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910185.SRDUP, 15.74%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11233  | 11192  | 11343  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910191.SRDUP, 29.38%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 438  | 436  | 432  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910197.SRDUP, 16.66%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 9015  | 8982  | 9100  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910219.SRDUP, 28.37%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3867  | 3852  | 3894  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910232.SRDUP, 27.68%, 8/9/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12505  | 12457  | 12638  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910244.SRDUP, 20.90%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1825  | 1821  | 1819  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910270.SRDUP, 28.66%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1452  | 1446  | 1470  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910278.SRDUP, 24.79%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 10194  | 10143  | 10337  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910304.SRDUP, 25.71%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 825  | 821  | 68  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910396.SRDUP, 26.14%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 8750  | 8706  | 1714  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910397.SRDUP, 30.32%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 812  | 809  | 818  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910507.SRDUP, 23.63%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3031  | 3023  | 3020  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910584.SRDUP, 23.46%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 35306  | 35172  | 35825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910608.SRDUP, 22.13%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3116  | 3104  | 3157  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910652.SRDUP, 14.50%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 996  | 994  | 991  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **144** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910687.SRDUP, 18.34%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | $8679  | $8647  | $8739  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910704.SRDUP, 24.23%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 7644  | 7615  | 7706  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910740.SRDUP, 23.28%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1323  | 1320  | 1320  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910897.SRDUP, 28.43%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1304  | 1298  | 1317  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3910997.SRDUP, 20.31%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2234  | 2226  | 2262  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911028.SRDUP, 14.95%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 4076  | 4062  | 4117  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911096.SRDUP, 27.27%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 946  | 942  | 957  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911228.SRDUP, 26.06%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 8384  | 8342  | 1211  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911485.SRDUP, 26.15%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3514  | 3500  | 3559  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911503.SRDUP, 28.50%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3989  | 3969  | 4028  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911505.SRDUP, 25.70%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2264  | 2258  | 2256  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911549.SRDUP, 13.22%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1908  | 1902  | 1941  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911585.SRDUP, 28.61%, 8/18/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 13845  | 13792  | 13961  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911654.SRDUP, 28.54%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 7096  | 7068  | 7149  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911655.SRDUP, 26.17%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1593  | 1587  | 1606  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911710.SRDUP, 27.06%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1402  | 1397  | 1420  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911724.SRDUP, 28.00%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 978  | 975  | 968  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911734.SRDUP, 21.53%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2730  | 2719  | 2764  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3911754.SRDUP, 28.55%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1371  | 1366  | 1381  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3912009.SRDUP, 28.31%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 967  | 963  | 974  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3912567.SRDUP, 28.81%, 1/3/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 45142  | 44916  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3912981.SRDUP, 27.47%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 11664  | 11626  | 11694  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913029.SRDUP, 28.58%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 775  | 774  | 784  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913062.SRDUP, 19.04%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 869  | 864  | 170  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913149.SRDUP, 28.30%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7498  | 7468  | 7560  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913160.SRDUP, 24.43%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 749  | 747  | 746  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913164.SRDUP, 27.55%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 988  | 985  | 980  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913202.SRDUP, 28.26%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4026  | 4010  | 4059  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913234.SRDUP, 25.83%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 954  | 950  | 968  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913257.SRDUP, 27.84%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1148  | 1143  | 1129  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913294.SRDUP, 13.71%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 20691  | 20617  | 21090  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913360.SRDUP, 18.96%, 8/4/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1990  | 1980  | 681  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913392.SRDUP, 26.53%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 36570  | 36387  | 36703  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913393.SRDUP, 28.28%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1374  | 1367  | 1362  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913458.SRDUP, 28.58%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 750  | 747  | 757  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913541.SRDUP, 30.04%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2194  | 2185  | 2211  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913549.SRDUP, 21.56%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4918  | 4899  | 4995  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913574.SRDUP, 24.39%, 1/4/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 20222  | 20185  | 20441  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913845.SRDUP, 27.67%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3351  | 3342  | 3323  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3913941.SRDUP, 25.75%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 954  | 950  | 962  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3914457.SRDUP, 24.99%, 1/4/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 22286  | 22175  | 4538  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3914563.SRDUP, 29.04%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2022  | 2012  | 2038  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954151.SRDUP, 24.17%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 4386  | 4369  | 4432  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954176.SRDUP, 24.45%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 6729  | 6703  | 6784  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954194.SRDUP, 22.30%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4996  | 4977  | 5064  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954298.SRDUP, 26.03%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3245  | 3232  | 3268  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954338.SRDUP, 18.89%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3110  | 3096  | 3152  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954375.SRDUP, 30.61%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 2969  | 2957  | 2985  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954377.SRDUP, 28.83%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 2549  | 2537  | 2565  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954388.SRDUP, 28.80%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 11160  | 11115  | 11236  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954472.SRDUP, 24.71%, 9/1/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1632  | 1628  | 1617  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954483.SRDUP, 28.57%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1130  | 1124  | 1137  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **145** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954538.SRDUP, 29.94%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | $2963  | $2951  | $2983  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3954565.SRDUP, 28.19%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 2872  | 2864  | 2875  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955057.SRDUP, 24.99%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 766  | 763  | 770  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955805.SRDUP, 29.60%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4913  | 4888  | 709  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955825.SRDUP, 26.51%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 17404  | 17336  | 17579  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955871.SRDUP, 20.77%, 9/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 14179  | 14125  | 14366  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955879.SRDUP, 30.18%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2538  | 2528  | 2496  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955883.SRDUP, 25.31%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1935  | 1926  | 382  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3955977.SRDUP, 25.26%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 489  | 488  | 485  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956006.SRDUP, 21.70%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1105  | 1101  | 1102  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956033.SRDUP, 29.70%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 3370  | 3357  | 3401  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956036.SRDUP, 24.94%, 9/13/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 585  | 583  | 583  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956062.SRDUP, 22.12%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5539  | 5517  | 5613  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956066.SRDUP, 27.42%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5378  | 5357  | 5426  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956078.SRDUP, 24.11%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 6379  | 6354  | 6446  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956097.SRDUP, 24.53%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4983  | 4963  | 5047  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956150.SRDUP, 22.26%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 19380  | 19305  | 19646  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956162.SRDUP, 24.71%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 28580  | 28451  | 28887  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956211.SRDUP, 29.66%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 7232  | 7203  | 7299  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956263.SRDUP, 30.04%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 138  | 137  | 135  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956309.SRDUP, 22.64%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2927  | 2916  | 2966  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956343.SRDUP, 17.00%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 34584  | 34455  | 34878  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956371.SRDUP, 31.01%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5128  | 5107  | 5173  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956386.SRDUP, 27.87%, 2/5/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2115  | 2104  | 2095  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956410.SRDUP, 19.62%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 936  | 933  | 950  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956413.SRDUP, 25.80%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 8066  | 8034  | 8148  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956414.SRDUP, 30.66%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1065  | 1060  | 1074  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956438.SRDUP, 28.92%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2457  | 2448  | 2480  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956469.SRDUP, 29.68%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2795  | 2783  | 2820  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956629.SRDUP, 27.86%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 678  | 675  | 679  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956677.SRDUP, 24.70%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 13394  | 13389  | 13535  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956853.SRDUP, 26.32%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1865  | 1857  | 1872  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956858.SRDUP, 28.89%, 2/5/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 6222  | 6191  | 5895  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956859.SRDUP, 19.27%, 9/5/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4073  | 4063  | 4064  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956866.SRDUP, 22.67%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 794  | 793  | 804  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3956878.SRDUP, 30.02%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1894  | 1886  | 1911  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957002.SRDUP, 19.05%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4667  | 4649  | 4736  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957086.SRDUP, 10.26%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 18042  | 17977  | 18404  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957266.SRDUP, 20.55%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 9983  | 9945  | 10102  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957354.SRDUP, 28.76%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 770  | 766  | 774  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957495.SRDUP, 18.85%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1769  | 1762  | 1789  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957509.SRDUP, 26.76%, 9/5/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1648  | 1644  | 1635  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957551.SRDUP, 29.53%, 2/5/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1570  | 1562  | 1532  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957660.SRDUP, 25.28%, 9/5/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 3863  | 3844  | 2598  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957680.SRDUP, 23.50%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 13407  | 13340  | 13374  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957681.SRDUP, 29.31%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1493  | 1485  | 824  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3957773.SRDUP, 19.39%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 12088  | 12029  | 5986  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3959080.SRDUP, 11.63%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 18580  | 18512  | 18942  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3959880.SRDUP, 23.29%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 19907  | 19830  | 20164  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3959966.SRDUP, 23.08%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 38380  | 38232  | 38819  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960052.SRDUP, 25.36%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 18674  | 18600  | 18867  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960098.SRDUP, 28.42%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2030  | 2020  | 2037  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **146** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960298.SRDUP, 26.85%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | $8109  | $8077  | $8194  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960519.SRDUP, 26.59%, 9/5/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1403  | 1396  | 1391  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960562.SRDUP, 15.67%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5489  | 5469  | 5538  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960721.SRDUP, 19.68%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 10618  | 10577  | 10698  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3960979.SRDUP, 29.71%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 1644  | 1638  | 1660  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3961016.SRDUP, 26.49%, 9/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 846  | 843  | 853  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3961051.SRDUP, 29.58%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 3122  | 3110  | 3153  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW3961069.SRDUP, 26.17%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 4041  | 4025  | 4084  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4005935.SRDUP, 18.43%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5128  | 5108  | 5167  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007221.SRDUP, 28.32%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4175  | 4158  | 4178  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007629.SRDUP, 24.20%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4850  | 4830  | 4907  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007965.SRDUP, 16.30%, 10/6/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1929  | 1919  | 212  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007971.SRDUP, 27.62%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1652  | 1646  | 1660  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007992.SRDUP, 22.56%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7808  | 7777  | 7900  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4007996.SRDUP, 19.03%, 10/21/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 8852  | 8818  | 8941  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008016.SRDUP, 29.19%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 916  | 912  | 920  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008022.SRDUP, 29.16%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 6784  | 6752  | 6798  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008039.SRDUP, 24.37%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 13280  | 13227  | 13328  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008045.SRDUP, 20.39%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3109  | 3097  | 3128  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008050.SRDUP, 29.11%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2950  | 2935  | 891  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008054.SRDUP, 27.45%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1899  | 1891  | 1908  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008078.SRDUP, 22.78%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 9120  | 9085  | 9236  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008091.SRDUP, 27.87%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2635  | 2624  | 2646  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008099.SRDUP, 27.35%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2400  | 2393  | 2380  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008125.SRDUP, 21.15%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1331  | 1326  | 1325  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008149.SRDUP, 24.33%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3779  | 3760  | 2116  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008174.SRDUP, 12.25%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 417  | 416  | 414  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008183.SRDUP, 20.21%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 28728  | 28649  | 28654  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008218.SRDUP, 22.99%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 10741  | 10699  | 10876  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008289.SRDUP, 28.33%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 8255  | 8222  | 8291  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008328.SRDUP, 26.92%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2471  | 2461  | 2483  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008330.SRDUP, 29.13%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2330  | 2327  | 2340  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008335.SRDUP, 28.74%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1419  | 1412  | 1416  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008390.SRDUP, 28.77%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1431  | 1424  | 1428  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008392.SRDUP, 27.29%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1133  | 1130  | 1124  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008401.SRDUP, 21.80%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 17416  | 17366  | 17338  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008403.SRDUP, 20.11%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1990  | 1982  | 2015  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008408.SRDUP, 29.06%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2929  | 2918  | 2924  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008415.SRDUP, 24.15%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4945  | 4931  | 4931  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008437.SRDUP, 22.65%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2486  | 2476  | 2471  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008443.SRDUP, 28.73%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1412  | 1406  | 1418  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008449.SRDUP, 14.65%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 8671  | 8638  | 8739  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008454.SRDUP, 16.64%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 15619  | 15560  | 15734  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008460.SRDUP, 29.04%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3992  | 3976  | 4009  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008467.SRDUP, 29.12%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2015  | 2004  | 2005  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008470.SRDUP, 28.96%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1179  | 1173  | 609  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008484.SRDUP, 25.71%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1045  | 1042  | 1041  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008496.SRDUP, 22.83%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 32674  | 32546  | 33084  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008499.SRDUP, 23.63%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2868  | 2855  | 2874  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008501.SRDUP, 22.89%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2023  | 2020  | 2021  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008503.SRDUP, 26.00%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1607  | 1602  | 1594  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008510.SRDUP, 29.01%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2079  | 2071  | 2088  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **147** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008518.SRDUP, 23.44%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | $45287  | $45061  | $—  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008538.SRDUP, 26.25%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 894  | 892  | 885  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008543.SRDUP, 27.87%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5801  | 5772  | 3017  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008566.SRDUP, 28.05%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 989  | 988  | 994  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008593.SRDUP, 28.79%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 706  | 702  | 102  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008607.SRDUP, 23.29%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 874  | 872  | 872  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008610.SRDUP, 29.09%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 20004  | 19936  | 19844  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008617.SRDUP, 29.17%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3079  | 3066  | 3092  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008631.SRDUP, 29.03%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5489  | 5467  | 5513  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008646.SRDUP, 28.44%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 913  | 909  | 911  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008651.SRDUP, 29.00%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1505  | 1499  | 1502  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008685.SRDUP, 26.59%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1723  | 1715  | 1717  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008687.SRDUP, 28.72%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1163  | 1158  | 1168  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008691.SRDUP, 29.15%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1197  | 1195  | 652  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008692.SRDUP, 30.17%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1588  | 1582  | 1595  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008707.SRDUP, 28.59%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2905  | 2893  | 2918  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008804.SRDUP, 28.71%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1080  | 1075  | 1085  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008882.SRDUP, 29.65%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1419  | 1417  | 1415  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008911.SRDUP, 28.00%, 10/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1946  | 1939  | 1953  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4008932.SRDUP, 28.98%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1497  | 1491  | 1507  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009369.SRDUP, 22.45%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2358  | 2347  | 2382  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009821.SRDUP, 13.87%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 19207  | 19134  | 19383  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009829.SRDUP, 29.03%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1913  | 1905  | 1926  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009831.SRDUP, 28.59%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1162  | 1157  | 1170  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009840.SRDUP, 28.27%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1073  | 1069  | 1080  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009883.SRDUP, 28.83%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3573  | 3559  | 3597  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009928.SRDUP, 22.81%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4036  | 4021  | 4095  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009953.SRDUP, 29.11%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5605  | 5580  | 5639  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4009966.SRDUP, 29.33%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 21043  | 20938  | 1483  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4010342.SRDUP, 28.14%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 8628  | 8585  | 1724  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4010349.SRDUP, 25.21%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 9904  | 9874  | 9829  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4010533.SRDUP, 28.93%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1223  | 1217  | 1230  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4010679.SRDUP, 28.72%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1246  | 1241  | 1254  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4010758.SRDUP, 28.11%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5300  | 5279  | 5337  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011015.SRDUP, 26.80%, 3/10/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 18206  | 18118  | 17880  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011051.SRDUP, 17.11%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 37273  | 37130  | 37568  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011093.SRDUP, 30.07%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2355  | 2345  | 2356  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011146.SRDUP, 25.63%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4395  | 4382  | 4365  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011465.SRDUP, 27.49%, 10/10/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4636  | 4618  | 4597  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011466.SRDUP, 22.86%, 3/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 275  | 274  | 273  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011508.SRDUP, 15.24%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5423  | 5402  | 5470  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011520.SRDUP, 28.77%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2322  | 2312  | 2318  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011911.SRDUP, 29.04%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2894  | 2880  | 2913  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011920.SRDUP, 19.20%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1822  | 1815  | 1848  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011964.SRDUP, 10.66%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 19777  | 19726  | 19734  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4011987.SRDUP, 28.54%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1402  | 1396  | 1411  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012120.SRDUP, 28.60%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1123  | 1117  | 1124  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012160.SRDUP, 29.05%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1235  | 1230  | 1243  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012187.SRDUP, 29.15%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1082  | 1077  | 1089  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012199.SRDUP, 29.05%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2994  | 2982  | 3014  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012200.SRDUP, 28.96%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4739  | 4720  | 4771  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012273.SRDUP, 28.87%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5662  | 5653  | 3085  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **148** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012356.SRDUP, 28.34%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | $1575  | $1569  | $1586  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012360.SRDUP, 24.22%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 40869  | 40708  | 41018  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012382.SRDUP, 25.02%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2086  | 2077  | 2045  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012438.SRDUP, 23.46%, 3/10/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 7726  | 7687  | 7725  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012459.SRDUP, 18.53%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 8978  | 8937  | 8969  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012468.SRDUP, 29.14%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3081  | 3068  | 3081  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012486.SRDUP, 28.02%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 7864  | 7833  | 7919  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012505.SRDUP, 29.18%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12150  | 12101  | 12231  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012524.SRDUP, 28.37%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2474  | 2464  | 2490  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012577.SRDUP, 15.38%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 17521  | 17455  | 17674  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012581.SRDUP, 27.32%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 963  | 959  | 968  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012588.SRDUP, 30.05%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3926  | 3910  | 3951  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012596.SRDUP, 29.13%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1997  | 1989  | 2010  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012601.SRDUP, 22.90%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2423  | 2413  | 2458  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012607.SRDUP, 24.61%, 10/15/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3376  | 3366  | 3365  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012620.SRDUP, 28.65%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3822  | 3805  | 3823  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012644.SRDUP, 20.35%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 37220  | 37178  | 37734  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012663.SRDUP, 28.91%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2112  | 2101  | 305  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012664.SRDUP, 11.34%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3253  | 3245  | 3246  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012677.SRDUP, 24.92%, 3/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1981  | 1972  | 1238  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012678.SRDUP, 29.10%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2912  | 2900  | 2931  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012684.SRDUP, 24.63%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4851  | 4832  | 4887  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012710.SRDUP, 15.44%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 14377  | 14305  | 6831  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012714.SRDUP, 20.04%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 197  | 196  | 195  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012738.SRDUP, 29.08%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1478  | 1472  | 1486  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012743.SRDUP, 26.81%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2663  | 2655  | 2644  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012765.SRDUP, 14.87%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 42077  | 41866  | 6076  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012796.SRDUP, 29.83%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 4570  | 4551  | 4598  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012851.SRDUP, 25.20%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 36585  | 36439  | 36855  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4012907.SRDUP, 26.11%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 894  | 891  | 890  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4013153.SRDUP, 25.20%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 18418  | 18345  | 18629  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4013407.SRDUP, 26.37%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 18732  | 18658  | 18926  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4013445.SRDUP, 27.95%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 993  | 989  | 1000  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4013621.SRDUP, 29.03%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1247  | 1242  | 1262  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4013730.SRDUP, 30.08%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3760  | 3756  | 3784  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4014443.SRDUP, 28.95%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1912  | 1904  | 1925  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4014726.SRDUP, 23.06%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2747  | 2737  | 2782  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4014729.SRDUP, 30.10%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1507  | 1502  | 1506  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4014758.SRDUP, 26.11%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1459  | 1452  | 1465  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4014789.SRDUP, 22.76%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 6618  | 6592  | 6713  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4995809.SRDUP, 32.28%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 5085  | 5085  | 4965  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996095.SRDUP, 29.37%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4327  | 4327  | 4175  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996103.SRDUP, 22.57%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 11709  | 11709  | 11423  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996118.SRDUP, 28.74%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 7373  | 7373  | 7115  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996165.SRDUP, 31.13%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 2657  | 2657  | 2563  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996205.SRDUP, 28.48%, 2/3/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1400  | 1400  | 391  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996213.SRDUP, 28.53%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1671  | 1677  | 1613  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996241.SRDUP, 18.97%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 5578  | 5578  | 5462  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996250.SRDUP, 21.98%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 6861  | 6861  | 6626  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996276.SRDUP, 25.67%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 1178  | 1182  | 1137  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996289.SRDUP, 15.59%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 8072  | 8072  | 7975  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996382.SRDUP, 32.08%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 5512  | 5512  | 5317  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **149** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996422.SRDUP, 24.78%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | $7111  | $7111  | $6942  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996455.SRDUP, 25.56%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 8836  | 8836  | 8530  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996710.SRDUP, 29.80%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 7993  | 7993  | 7703  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996832.SRDUP, 25.65%, 2/3/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 8889  | 8889  | 8581  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996891.SRDUP, 22.17%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 14605  | 14605  | 14245  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4996982.SRDUP, 24.22%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 5092  | 5092  | 4985  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4997114.SRDUP, 25.64%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4418  | 4418  | 4265  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4997714.SRDUP, 16.62%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 34697  | 34697  | 34279  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998036.SRDUP, 13.12%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 953  | 953  | 943  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998047.SRDUP, 28.63%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2261  | 2261  | 2183  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998246.SRDUP, 32.10%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 19293  | 19293  | 18620  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998470.SRDUP, 21.87%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4595  | 4595  | 4499  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998693.SRDUP, 32.17%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 9594  | 9594  | 9260  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4998714.SRDUP, 30.81%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 23991  | 23991  | 23130  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999298.SRDUP, 28.54%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3979  | 3979  | 3843  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999539.SRDUP, 28.78%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 7078  | 7078  | 6834  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999594.SRDUP, 12.64%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1525  | 1525  | 1509  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999636.SRDUP, 26.35%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 12180  | 12180  | 11763  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999742.SRDUP, 17.05%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 10419  | 10419  | 10240  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999744.SRDUP, 31.70%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2264  | 2264  | 2185  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW4999952.SRDUP, 20.32%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1149  | 1149  | 1123  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5000097.SRDUP, 29.57%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4718  | 4718  | 4550  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5000110.SRDUP, 20.82%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5486  | 5486  | 5353  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5000126.SRDUP, 18.54%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3500  | 3500  | 3494  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5000431.SRDUP, 27.99%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2752  | 2752  | 2657  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5000539.SRDUP, 30.01%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 6983  | 6983  | 6741  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5001196.SRDUP, 18.85%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 48928  | 48928  | 48336  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5001255.SRDUP, 31.68%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 6254  | 6254  | 6042  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5001619.SRDUP, 28.32%, 2/5/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5688  | 5688  | 5610  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5001719.SRDUP, 28.88%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1966  | 1966  | 1899  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5002007.SRDUP, 13.60%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5818  | 5818  | 5757  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5002197.SRDUP, 21.89%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 17157  | 17157  | 16745  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5002727.SRDUP, 28.42%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1014  | 1014  | 984  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5003059.SRDUP, 17.20%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 956  | 956  | 935  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004093.SRDUP, 25.97%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 4419  | 4419  | 4270  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004593.SRDUP, 31.27%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2952  | 2952  | 2852  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004761.SRDUP, 31.89%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1969  | 1975  | 1902  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004808.SRDUP, 19.62%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 9383  | 9383  | 9174  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004863.SRDUP, 30.39%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2262  | 2262  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004896.SRDUP, 27.05%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 6484  | 6484  | 6268  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004924.SRDUP, 31.39%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1856  | 1856  | 1793  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5004971.SRDUP, 32.36%, 2/6/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 6600  | 6600  | 3038  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5005072.SRDUP, 32.30%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2166  | 2173  | 2092  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5006421.SRDUP, 31.95%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 7677  | 7677  | 7417  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5006519.SRDUP, 25.97%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2258  | 2258  | 2183  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5006546.SRDUP, 25.34%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 8865  | 8865  | 8573  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5007040.SRDUP, 28.79%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1624  | 1624  | 1571  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5007503.SRDUP, 28.44%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4423  | 4423  | 4275  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008070.SRDUP, 24.79%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6477  | 6477  | 6266  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008291.SRDUP, 25.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10404  | 10404  | 10158  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008308.SRDUP, 31.78%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 12625  | 12625  | 12223  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008320.SRDUP, 23.42%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10789  | 10825  | 10535  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **150** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008321.SRDUP, 15.64%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $6136  | $6136  | $6066  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008327.SRDUP, 26.06%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7818  | 7818  | 7563  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008353.SRDUP, 21.25%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5193  | 5193  | 5130  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008414.SRDUP, 28.77%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1376  | 1376  | 1331  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008422.SRDUP, 31.96%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3248  | 3248  | 3140  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008473.SRDUP, 28.81%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4915  | 4915  | 4753  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008486.SRDUP, 31.16%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9668  | 9668  | 9348  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008489.SRDUP, 25.67%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3927  | 3941  | 3799  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008508.SRDUP, 31.54%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6558  | 6580  | 6339  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008509.SRDUP, 21.46%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3332  | 3332  | 3254  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008517.SRDUP, 27.69%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1081  | 1081  | 1045  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008559.SRDUP, 27.70%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3144  | 3144  | 3041  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008560.SRDUP, 22.44%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9901  | 9901  | 9670  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008561.SRDUP, 29.91%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1684  | 1684  | 1645  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008565.SRDUP, 25.08%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6511  | 6511  | 6301  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008566.SRDUP, 28.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3834  | 3834  | 3707  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008581.SRDUP, 30.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 11315  | 11315  | 10939  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008613.SRDUP, 31.45%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2576  | 2576  | 1261  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008618.SRDUP, 30.79%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 19205  | 19205  | 18545  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008644.SRDUP, 22.13%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 15977  | 15977  | 15656  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008730.SRDUP, 31.52%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2559  | 2559  | 2474  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5008833.SRDUP, 32.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5512  | 5531  | 5328  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009411.SRDUP, 29.30%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 759  | 759  | 759  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009470.SRDUP, 24.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4338  | 4338  | 4198  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009498.SRDUP, 19.28%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1861  | 1867  | 1826  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009539.SRDUP, 32.08%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9745  | 9745  | 9419  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009552.SRDUP, 32.34%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3544  | 3544  | 3425  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009689.SRDUP, 28.78%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4830  | 4830  | 4672  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009738.SRDUP, 28.46%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5210  | 5227  | 5038  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009743.SRDUP, 20.16%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10772  | 10772  | 10558  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009744.SRDUP, 28.67%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2752  | 2752  | 2662  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009749.SRDUP, 25.53%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 13548  | 13548  | 13227  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009781.SRDUP, 31.09%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2607  | 2606  | 2521  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009798.SRDUP, 32.18%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6890  | 6890  | 6660  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009810.SRDUP, 21.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7840  | 7840  | 7657  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009840.SRDUP, 26.76%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 13260  | 13260  | 12825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009856.SRDUP, 31.87%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6565  | 6565  | 6350  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009857.SRDUP, 19.53%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1273  | 1273  | 1247  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009868.SRDUP, 14.11%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2099  | 2099  | 2065  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009886.SRDUP, 28.75%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 41554  | 41554  | 40186  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009919.SRDUP, 28.65%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1081  | 1081  | 1046  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009923.SRDUP, 21.45%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9505  | 9505  | 9390  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009943.SRDUP, 32.22%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 20743  | 20743  | 20060  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009967.SRDUP, 30.36%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2459  | 2459  | 2378  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009975.SRDUP, 28.77%, 2/18/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 28049  | 28049  | 27123  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5009991.SRDUP, 28.93%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2458  | 2458  | 2377  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010001.SRDUP, 29.47%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4814  | 4814  | 4649  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010005.SRDUP, 25.71%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1375  | 1375  | 1330  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010040.SRDUP, 28.74%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2641  | 2641  | 2554  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010114.SRDUP, 31.87%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1867  | 1867  | 1825  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010135.SRDUP, 26.18%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4419  | 4419  | 4274  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010143.SRDUP, 29.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9733  | 9733  | 9412  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **151** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010168.SRDUP, 31.36%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $3809  | $3809  | $3683  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010179.SRDUP, 31.77%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2854  | 2854  | 2759  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010185.SRDUP, 32.34%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4627  | 4627  | 4472  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010213.SRDUP, 25.44%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1669  | 1669  | 1614  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010286.SRDUP, 32.20%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2287  | 2287  | 2257  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010376.SRDUP, 15.29%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 42485  | 42485  | 41999  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010377.SRDUP, 30.23%, 2/22/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8500  | 8500  | 7919  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010453.SRDUP, 32.33%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14057  | 14057  | 13596  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010637.SRDUP, 14.74%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1035  | 1035  | 1019  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5010745.SRDUP, 31.56%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4551  | 4551  | 4401  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5171137.SRDUP, 27.82%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2400  | 2400  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5175682.SRDUP, 32.39%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 11800  | 11800  | 11623  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5175761.SRDUP, 19.23%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 36800  | 36800  | 36619  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5175936.SRDUP, 31.75%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 1900  | 1900  | 1872  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176770.SRDUP, 18.85%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4000  | 4000  | 3981  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176896.SRDUP, 31.30%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14400  | 14400  | 14191  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176921.SRDUP, 32.11%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6700  | 6700  | 6603  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176949.SRDUP, 28.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176980.SRDUP, 29.41%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2400  | 2400  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5176984.SRDUP, 16.64%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1692  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177008.SRDUP, 31.20%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8600  | 8600  | 8475  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177065.SRDUP, 28.61%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8500  | 8500  | 8378  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177071.SRDUP, 10.42%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 15500  | 15500  | 15476  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177083.SRDUP, 31.16%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2800  | 2800  | 2759  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177086.SRDUP, 24.71%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10071  | 10071  | 9930  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177101.SRDUP, 30.00%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 12761  | 12804  | 12579  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177192.SRDUP, 20.20%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 17000  | 17000  | 16834  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177345.SRDUP, 31.81%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2100  | 2100  | 2070  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177346.SRDUP, 32.16%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5500  | 5500  | 5420  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177356.SRDUP, 17.55%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5662  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5177433.SRDUP, 29.10%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2600  | 2600  | 2563  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178241.SRDUP, 18.63%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13200  | 13200  | 13096  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178242.SRDUP, 22.17%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5000  | 5000  | 4960  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178290.SRDUP, 29.49%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2400  | 2400  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178386.SRDUP, 27.24%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10775  | 10775  | 10669  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178610.SRDUP, 31.64%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14100  | 14100  | 13896  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178646.SRDUP, 31.34%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2094  | 2094  | 2064  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178698.SRDUP, 29.69%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9200  | 9200  | 9067  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178793.SRDUP, 30.79%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2900  | 2858  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178808.SRDUP, 28.06%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178823.SRDUP, 28.80%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178825.SRDUP, 17.94%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13000  | 13000  | 12898  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178830.SRDUP, 17.82%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 12500  | 12500  | 12402  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178855.SRDUP, 27.66%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178857.SRDUP, 28.84%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7800  | 7800  | 7688  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178878.SRDUP, 28.46%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1100  | 1104  | 1084  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178886.SRDUP, 28.22%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1183  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178890.SRDUP, 27.41%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14600  | 14600  | 14388  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178903.SRDUP, 31.42%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9900  | 9900  | 9757  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178905.SRDUP, 32.11%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4154  | 4154  | 4095  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178919.SRDUP, 32.19%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1675  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178920.SRDUP, 14.67%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1693  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **152** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178923.SRDUP, 22.61%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $3500  | $3500  | $3467  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178972.SRDUP, 32.24%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5178977.SRDUP, 29.93%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7600  | 7600  | 7489  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179002.SRDUP, 26.74%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 27000  | 27000  | 26610  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179216.SRDUP, 26.27%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7800  | 7800  | 7689  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179324.SRDUP, 26.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179372.SRDUP, 28.89%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7500  | 7500  | 7392  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179445.SRDUP, 31.45%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2700  | 2700  | 2661  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179825.SRDUP, 27.30%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3400  | 3351  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179833.SRDUP, 22.62%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2500  | 2500  | 2477  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179841.SRDUP, 31.58%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2300  | 2300  | 2267  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179889.SRDUP, 26.17%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1473  | 1473  | 1452  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5179890.SRDUP, 30.61%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1675  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5180071.SRDUP, 32.18%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3800  | 3800  | 3745  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5180074.SRDUP, 26.45%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1500  | 1505  | 1478  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5180112.SRDUP, 21.44%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 50000  | 50000  | 49756  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5180473.SRDUP, 32.38%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2100  | 2100  | 2069  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5180751.SRDUP, 17.80%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 16000  | 16000  | 15878  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181217.SRDUP, 25.63%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 11400  | 11400  | 11242  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181234.SRDUP, 31.77%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 11700  | 11700  | 11536  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181273.SRDUP, 22.54%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 11400  | 11400  | 11291  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181280.SRDUP, 20.15%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3400  | 3400  | 3368  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181293.SRDUP, 32.25%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3300  | 3300  | 3254  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181314.SRDUP, 25.24%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 25600  | 25600  | 25250  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181386.SRDUP, 17.43%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 7400  | 7426  | 7366  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181387.SRDUP, 32.11%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 4388  | 4388  | 4327  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181478.SRDUP, 22.90%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2300  | 2308  | 2278  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5181500.SRDUP, 13.26%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5600  | 5600  | 5578  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5186286.SRDUP, 20.33%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3800  | 3800  | 3768  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5187280.SRDUP, 17.46%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10725  | 10725  | 10655  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5187543.SRDUP, 29.90%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 12800  | 12800  | 12641  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5187709.SRDUP, 18.82%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3400  | 3400  | 3373  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5187834.SRDUP, 22.54%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5900  | 5900  | 5829  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5187841.SRDUP, 28.51%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5900  | 5900  | 5827  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5188140.SRDUP, 28.77%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 6000  | 6021  | 5926  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5188607.SRDUP, 20.41%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11549  | 11549  | 11500  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5189531.SRDUP, 30.83%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 6700  | 6723  | 6615  |
| &nbsp;&nbsp;&nbsp;&nbsp; FW5191891.SRDUP, 31.49%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3100  | 3100  | 3061  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3265831.SRDUP, 23.14%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 888  | 888  | 916  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3279284.SRDUP, 24.40%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1319  | 1319  | 1360  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3282815.SRDUP, 20.86%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 14877  | 14877  | 15223  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3283486.SRDUP, 16.28%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1652  | 1652  | 1684  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3288889.SRDUP, 20.60%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 2302  | 2302  | 2332  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3290939.SRDUP, 16.53%, 12/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 20617  | 20617  | 21035  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291096.SRDUP, 23.75%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 714  | 714  | 737  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291098.SRDUP, 19.78%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 2515  | 2515  | 2601  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291148.SRDUP, 14.82%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 2167  | 2167  | 2208  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291157.SRDUP, 24.36%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 5707  | 5707  | 5892  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291319.SRDUP, 24.33%, 7/18/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/21/2022 | 2753  | 2753  | 2837  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291468.SRDUP, 24.41%, 7/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1544  | 1544  | 223  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291594.SRDUP, 19.14%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 8185  | 8185  | 8469  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291614.SRDUP, 19.03%, 12/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 2522  | 2522  | 240  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **153** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291615.SRDUP, 24.31%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | $957  | $957  | $989  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291691.SRDUP, 13.34%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 4244  | 4244  | 4326  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291740.SRDUP, 23.24%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 8289  | 8289  | 8549  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291813.SRDUP, 24.20%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 2722  | 2722  | 2811  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291872.SRDUP, 23.71%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 3755  | 3755  | 3873  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291879.SRDUP, 24.41%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1046  | 1049  | 1030  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292091.SRDUP, 9.84%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 4089  | 4089  | 4154  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292141.SRDUP, 14.93%, 7/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 10702  | 10702  | 10889  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292188.SRDUP, 24.20%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 897  | 897  | 925  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292269.SRDUP, 21.49%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 4654  | 4654  | 4811  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292286.SRDUP, 21.53%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 7248  | 7248  | 7496  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292306.SRDUP, 21.00%, 7/19/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 550  | 550  | 549  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292493.SRDUP, 18.76%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 672  | 672  | 684  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292501.SRDUP, 17.83%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 15565  | 15565  | 15845  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292511.SRDUP, 23.98%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 6042  | 6042  | 6233  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292538.SRDUP, 13.06%, 12/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 2518  | 2525  | 2579  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292584.SRDUP, 15.32%, 7/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 545  | 545  | 555  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3292688.SRDUP, 24.20%, 12/19/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/22/2022 | 1511  | 1511  | 1565  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3293908.SRDUP, 22.82%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 794  | 794  | 168  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3294888.SRDUP, 21.11%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1332  | 1332  | 1377  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3294963.SRDUP, 12.45%, 7/20/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 99  | 99  | 99  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295007.SRDUP, 24.33%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 468  | 468  | 68  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295171.SRDUP, 20.62%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1153  | 1153  | 1173  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295187.SRDUP, 21.54%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1749  | 1749  | 1809  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295314.SRDUP, 15.36%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 5450  | 5450  | 5553  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295330.SRDUP, 17.04%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 13880  | 13880  | 14136  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295527.SRDUP, 11.77%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 8368  | 8368  | 8533  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295622.SRDUP, 18.14%, 7/20/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 106  | 106  | 106  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295635.SRDUP, 22.54%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 13326  | 13326  | 13742  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295719.SRDUP, 21.80%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 934  | 934  | 965  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295754.SRDUP, 18.51%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 14955  | 14955  | 2160  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295812.SRDUP, 23.63%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1486  | 1486  | 1533  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295929.SRDUP, 10.65%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 3496  | 3496  | 460  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3295998.SRDUP, 11.03%, 7/21/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 661  | 663  | 342  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3296001.SRDUP, 21.80%, 7/20/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 9654  | 9654  | 1394  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3296144.SRDUP, 24.09%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1198  | 1198  | 1255  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3296260.SRDUP, 24.28%, 7/20/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 1256  | 1256  | 1295  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3296311.SRDUP, 9.72%, 7/20/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 276  | 276  | 276  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3296889.SRDUP, 9.69%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5284  | 5127  | 2768  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3297380.SRDUP, 20.18%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 688  | 688  | 713  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3297731.SRDUP, 18.32%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 121  | 121  | 121  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3297779.SRDUP, 24.20%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 560  | 560  | 570  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298066.SRDUP, 20.29%, 12/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 13199  | 13199  | 13458  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298107.SRDUP, 14.90%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 4695  | 4695  | 4785  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298192.SRDUP, 11.35%, 7/22/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 97  | 97  | 97  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298216.SRDUP, 16.63%, 7/21/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 367  | 367  | 365  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298279.SRDUP, 24.37%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 3714  | 3725  | 3893  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298280.SRDUP, 16.01%, 12/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 10908  | 10922  | 11128  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298301.SRDUP, 21.46%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 3256  | 3256  | 3364  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298306.SRDUP, 14.33%, 7/21/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 404  | 404  | 404  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298313.SRDUP, 22.74%, 12/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 3958  | 3958  | 4096  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298339.SRDUP, 16.93%, 7/21/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 157  | 157  | 157  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **154** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298342.SRDUP, 21.97%, 1/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | $19214  | $19214  | $19892  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298343.SRDUP, 23.21%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1354  | 1354  | 1337  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298354.SRDUP, 14.05%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 4203  | 4203  | 4283  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298404.SRDUP, 23.97%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 835  | 835  | 863  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298433.SRDUP, 18.50%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1692  | 1692  | 1723  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298448.SRDUP, 15.61%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 27326  | 27326  | 27847  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298584.SRDUP, 16.45%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 4280  | 4280  | 618  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298607.SRDUP, 20.95%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 11104  | 11104  | 11499  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298608.SRDUP, 13.55%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1068  | 1068  | 1088  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298613.SRDUP, 19.79%, 7/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 8589  | 8589  | 8744  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298614.SRDUP, 12.12%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 7891  | 7891  | 8046  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298621.SRDUP, 12.01%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 6923  | 6923  | 7059  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298658.SRDUP, 17.40%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 5295  | 5295  | 5393  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298677.SRDUP, 15.73%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 4377  | 4377  | 4461  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298680.SRDUP, 14.00%, 7/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 1825  | 1825  | 1861  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3298700.SRDUP, 15.26%, 12/21/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/26/2022 | 14610  | 14610  | 14908  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3300640.SRDUP, 21.15%, 7/22/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2030  | 2030  | 242  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3300781.SRDUP, 18.92%, 7/22/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 433  | 433  | 433  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3301225.SRDUP, 12.79%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1092  | 1074  | 1111  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3301939.SRDUP, 23.78%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1727  | 1727  | 1783  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302210.SRDUP, 24.30%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2398  | 2398  | 2476  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302358.SRDUP, 19.61%, 7/22/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 432  | 432  | 432  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302433.SRDUP, 24.09%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 1194  | 1194  | 1235  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302579.SRDUP, 24.22%, 12/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 12640  | 12640  | 13112  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302824.SRDUP, 13.35%, 7/28/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 8172  | 8200  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3302921.SRDUP, 18.39%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2279  | 2279  | 2305  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3303191.SRDUP, 16.68%, 12/22/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 9531  | 9531  | 9724  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3303226.SRDUP, 21.72%, 7/22/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2249  | 2256  | 2225  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3303535.SRDUP, 12.58%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 6599  | 6611  | 6732  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304210.SRDUP, 20.61%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2858  | 2858  | 2962  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304312.SRDUP, 15.67%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 3499  | 3499  | 3569  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304489.SRDUP, 24.35%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 3718  | 3718  | 3849  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304544.SRDUP, 24.40%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4670  | 4670  | 4906  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304576.SRDUP, 22.93%, 1/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4008  | 4008  | 4172  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304592.SRDUP, 21.37%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 5138  | 5138  | 5324  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304611.SRDUP, 24.36%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 5571  | 5571  | 5671  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304654.SRDUP, 20.58%, 5/25/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4310  | 4310  | 4390  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304669.SRDUP, 18.76%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2827  | 2827  | 2881  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304673.SRDUP, 24.34%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 275  | 275  | 278  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304686.SRDUP, 14.98%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4295  | 4295  | 620  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304867.SRDUP, 21.38%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2674  | 2674  | 2744  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304894.SRDUP, 19.91%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 6709  | 6709  | 1984  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304898.SRDUP, 19.25%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 556  | 556  | 561  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304935.SRDUP, 12.34%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2949  | 2949  | 3008  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3304999.SRDUP, 24.11%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2773  | 2773  | 2874  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305013.SRDUP, 9.95%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 1109  | 1109  | 1124  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305021.SRDUP, 11.57%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 5061  | 5061  | 5143  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305031.SRDUP, 24.40%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2336  | 2336  | 2414  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305130.SRDUP, 21.96%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 15753  | 15753  | 16326  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305149.SRDUP, 12.10%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4435  | 4443  | 4521  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305233.SRDUP, 14.86%, 12/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 11347  | 11347  | 11631  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305259.SRDUP, 24.21%, 12/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 1553  | 1558  | 1609  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **155** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305316.SRDUP, 24.05%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | $656  | $656  | $679  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305321.SRDUP, 21.67%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4991  | 4991  | 5165  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305486.SRDUP, 9.45%, 7/25/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 426  | 426  | 427  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305566.SRDUP, 23.18%, 12/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 21811  | 21811  | 4552  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305582.SRDUP, 11.14%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 1817  | 1817  | 1854  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305584.SRDUP, 15.57%, 7/25/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 27523  | 27523  | 28083  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305587.SRDUP, 24.27%, 5/25/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 2173  | 2173  | 2247  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305645.SRDUP, 11.17%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 4154  | 4154  | 4239  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305697.SRDUP, 21.53%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 984  | 984  | 999  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3305703.SRDUP, 20.60%, 7/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2022 | 14001  | 14001  | 14303  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309405.SRDUP, 20.41%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 5753  | 5753  | 5965  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309449.SRDUP, 14.45%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1834  | 1834  | 1871  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309493.SRDUP, 15.78%, 1/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 7570  | 7420  | 7691  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309530.SRDUP, 23.84%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 2971  | 2971  | 3072  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309580.SRDUP, 24.06%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1373  | 1373  | 1420  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309588.SRDUP, 15.02%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 8361  | 8361  | 8532  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309640.SRDUP, 17.81%, 7/26/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 285  | 285  | 284  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309665.SRDUP, 12.61%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4829  | 4829  | 4916  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309688.SRDUP, 15.37%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3270  | 3270  | 3337  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309713.SRDUP, 15.54%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3400  | 3400  | 3464  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309767.SRDUP, 13.33%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 6324  | 6324  | 6455  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309855.SRDUP, 17.99%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1100  | 1100  | 1121  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309862.SRDUP, 10.63%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 9931  | 9931  | 2621  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3309888.SRDUP, 15.74%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3122  | 3122  | 3182  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310016.SRDUP, 17.41%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4066  | 4066  | 4147  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310076.SRDUP, 14.52%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4322  | 4322  | 4411  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310205.SRDUP, 16.26%, 7/26/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 247  | 247  | 246  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310251.SRDUP, 19.26%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1680  | 1680  | 243  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310462.SRDUP, 16.12%, 7/26/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 496  | 496  | 496  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310473.SRDUP, 15.61%, 7/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 4594  | 4594  | 543  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310657.SRDUP, 24.27%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1974  | 1974  | 2042  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310701.SRDUP, 21.37%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 14271  | 14271  | 14842  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310741.SRDUP, 24.19%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 3788  | 3788  | 547  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310766.SRDUP, 20.52%, 7/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 19246  | 19246  | 19951  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310870.SRDUP, 13.32%, 12/26/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 1261  | 1261  | 1292  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3310874.SRDUP, 12.04%, 7/26/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/29/2022 | 129  | 129  | 129  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3311095.SRDUP, 24.39%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 3174  | 3174  | 3284  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312046.SRDUP, 10.36%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 12661  | 12661  | 12862  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312110.SRDUP, 16.75%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 27255  | 27255  | 27802  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312122.SRDUP, 13.66%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 4115  | 4115  | 4202  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312194.SRDUP, 19.81%, 12/27/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1515  | 1515  | 1527  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312209.SRDUP, 23.84%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1460  | 1460  | 211  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312211.SRDUP, 16.91%, 12/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 2553  | 2553  | 2609  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312241.SRDUP, 19.65%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 3995  | 3995  | 4145  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312244.SRDUP, 24.04%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 652  | 652  | 674  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312274.SRDUP, 24.26%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 825  | 825  | 840  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312292.SRDUP, 19.30%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 11943  | 11943  | 12177  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312295.SRDUP, 15.02%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 8096  | 8096  | 8263  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312329.SRDUP, 18.20%, 7/27/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 5109  | 5109  | 738  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312343.SRDUP, 19.03%, 7/27/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1183  | 1183  | 1185  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312347.SRDUP, 12.73%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 5025  | 5025  | 5127  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312488.SRDUP, 21.64%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 8740  | 8740  | 9053  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **156** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312490.SRDUP, 16.86%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | $6640  | $6640  | $6775  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312509.SRDUP, 16.96%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1941  | 1941  | 1980  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312518.SRDUP, 20.84%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 3525  | 3525  | 3644  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312563.SRDUP, 24.35%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 1437  | 1437  | 1487  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312566.SRDUP, 24.23%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 3108  | 3108  | 3220  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312670.SRDUP, 14.56%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 3731  | 3731  | 3801  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312683.SRDUP, 11.33%, 7/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 5190  | 5190  | 5272  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3312812.SRDUP, 16.76%, 7/27/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 125  | 125  | 125  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319584.SRDUP, 21.54%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 4665  | 4582  | 4792  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319799.SRDUP, 23.94%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1407  | 1382  | 1460  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319824.SRDUP, 21.32%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 3223  | 3166  | 3311  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319826.SRDUP, 15.29%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 8527  | 8386  | 8655  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319874.SRDUP, 21.05%, 1/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1928  | 1872  | 1984  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319888.SRDUP, 22.24%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1505  | 1479  | 1542  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319940.SRDUP, 16.69%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 25298  | 24874  | 25638  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319949.SRDUP, 20.19%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 7048  | 6918  | 7143  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3319952.SRDUP, 24.13%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 919  | 903  | 944  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320008.SRDUP, 21.91%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 820  | 806  | 816  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320122.SRDUP, 9.83%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 26378  | 26018  | 26765  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320129.SRDUP, 24.19%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1960  | 1909  | 1150  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320133.SRDUP, 20.46%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 8288  | 8142  | 8517  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320163.SRDUP, 15.96%, 8/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 926  | 923  | 920  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320167.SRDUP, 19.44%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1992  | 1961  | 2048  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320181.SRDUP, 24.06%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 4069  | 3947  | 588  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320189.SRDUP, 23.86%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 979  | 961  | 1002  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320197.SRDUP, 15.02%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 13478  | 13256  | 13669  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320212.SRDUP, 18.66%, 8/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 5271  | 5113  | 761  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320219.SRDUP, 22.72%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 5674  | 5572  | 5798  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320275.SRDUP, 12.92%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1859  | 1829  | 1891  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320277.SRDUP, 24.37%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 3318  | 3258  | 3405  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320281.SRDUP, 20.67%, 1/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 14750  | 14469  | 14965  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320338.SRDUP, 19.69%, 8/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 171  | 171  | 170  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320357.SRDUP, 11.47%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 1427  | 1404  | 1450  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3320380.SRDUP, 16.07%, 8/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/4/2022 | 11392  | 11203  | 11538  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3321962.SRDUP, 24.06%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1041  | 1022  | 1066  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3322357.SRDUP, 24.17%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 675  | 663  | 691  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324226.SRDUP, 22.84%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 664  | 652  | 680  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324242.SRDUP, 24.26%, 1/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5607  | 5438  | 1696  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324468.SRDUP, 20.96%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 11005  | 10811  | 11293  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324484.SRDUP, 17.42%, 8/17/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1022  | 1015  | 1017  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324749.SRDUP, 19.07%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 4021  | 3901  | 4137  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324913.SRDUP, 18.73%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 11631  | 11431  | 11794  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324977.SRDUP, 24.10%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2308  | 2267  | 2359  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324988.SRDUP, 15.03%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 4060  | 3993  | 4113  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325038.SRDUP, 15.67%, 6/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2213  | 2175  | 2197  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325048.SRDUP, 18.54%, 8/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2526  | 2518  | 2512  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325085.SRDUP, 18.62%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 3717  | 3653  | 3770  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325121.SRDUP, 23.95%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 918  | 901  | 953  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325164.SRDUP, 15.51%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5623  | 5530  | 5707  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325178.SRDUP, 21.55%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 3889  | 3828  | 3988  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325187.SRDUP, 16.96%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1890  | 1858  | 1916  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325231.SRDUP, 24.33%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2641  | 2593  | 2742  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **157** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325282.SRDUP, 21.78%, 1/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | $1037  | $1006  | $284  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325286.SRDUP, 12.54%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 3265  | 3213  | 3322  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325289.SRDUP, 13.13%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5479  | 5391  | 5574  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325301.SRDUP, 22.48%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 7060  | 6949  | 7237  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325310.SRDUP, 23.46%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2273  | 2234  | 2325  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325322.SRDUP, 24.35%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5529  | 5428  | 5663  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325345.SRDUP, 13.12%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 826  | 812  | 840  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325394.SRDUP, 15.94%, 8/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 818  | 815  | 812  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325407.SRDUP, 13.43%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 2748  | 2704  | 2795  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325413.SRDUP, 24.29%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1719  | 1688  | 1761  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325559.SRDUP, 20.27%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 1692  | 1663  | 1738  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325596.SRDUP, 14.90%, 8/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 3452  | 3396  | 3480  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325602.SRDUP, 24.01%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 854  | 836  | 869  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325657.SRDUP, 22.31%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 10545  | 10358  | 10810  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325658.SRDUP, 17.45%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 6310  | 6203  | 6401  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325663.SRDUP, 23.60%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 5341  | 5248  | 5445  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325687.SRDUP, 24.10%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 326  | 321  | 328  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3325691.SRDUP, 9.81%, 8/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/5/2022 | 14681  | 14454  | 14897  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327322.SRDUP, 20.74%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3323  | 3264  | 3417  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327523.SRDUP, 21.93%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3362  | 3302  | 3456  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327539.SRDUP, 20.36%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 7096  | 6972  | 7299  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327884.SRDUP, 17.23%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 6298  | 6192  | 6391  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327969.SRDUP, 21.69%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1917  | 1883  | 1966  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3327996.SRDUP, 18.13%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2601  | 2557  | 2639  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328160.SRDUP, 21.82%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5158  | 5067  | 5291  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328192.SRDUP, 15.93%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 631  | 620  | 635  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328221.SRDUP, 24.24%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 675  | 663  | 692  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328315.SRDUP, 23.97%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5290  | 5193  | 5419  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328360.SRDUP, 20.13%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2595  | 2550  | 2669  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328499.SRDUP, 24.16%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 991  | 961  | 143  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328509.SRDUP, 17.07%, 1/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 3842  | 3768  | 3906  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328586.SRDUP, 17.20%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3316  | 3222  | 3363  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328771.SRDUP, 19.34%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 3218  | 3162  | 3263  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328781.SRDUP, 12.12%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 4052  | 3987  | 4119  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328810.SRDUP, 22.40%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 1025  | 1007  | 1051  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3328846.SRDUP, 15.15%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 929  | 915  | 927  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329055.SRDUP, 14.86%, 8/3/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5753  | 5583  | 3336  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329098.SRDUP, 14.93%, 8/15/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 5614  | 5521  | 5701  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329108.SRDUP, 21.00%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 714  | 702  | 724  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329112.SRDUP, 24.32%, 8/3/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2707  | 2652  | 2774  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329189.SRDUP, 24.16%, 8/15/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 2842  | 2797  | 2914  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3329389.SRDUP, 11.77%, 8/3/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2022 | 776  | 774  | 774  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3330225.SRDUP, 23.90%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 734  | 721  | 754  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3330321.SRDUP, 17.99%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 7345  | 7139  | 7451  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3330502.SRDUP, 10.16%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 6886  | 6779  | 6992  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331070.SRDUP, 20.95%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 792  | 776  | 811  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331127.SRDUP, 21.27%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 716  | 705  | 735  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331146.SRDUP, 10.81%, 8/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 256  | 255  | 256  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331188.SRDUP, 23.41%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1220  | 1197  | 1254  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331252.SRDUP, 24.39%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2814  | 2763  | 2884  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331262.SRDUP, 24.06%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 628  | 617  | 644  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331276.SRDUP, 23.86%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 917  | 901  | 941  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **158** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331357.SRDUP, 17.44%, 8/4/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | $1059  | $1056  | $1053  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331514.SRDUP, 22.63%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2055  | 2019  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331686.SRDUP, 14.06%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 6087  | 5988  | 6184  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331693.SRDUP, 22.32%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 4219  | 4143  | 4329  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331769.SRDUP, 21.48%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 8919  | 8761  | 9042  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331918.SRDUP, 19.09%, 8/4/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 566  | 564  | 563  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331966.SRDUP, 23.20%, 1/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2271  | 2203  | 328  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3331983.SRDUP, 15.15%, 8/4/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 755  | 753  | 751  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332024.SRDUP, 20.29%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 591  | 581  | 599  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332058.SRDUP, 15.34%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 2796  | 2750  | 2840  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332224.SRDUP, 23.74%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 794  | 780  | 814  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332231.SRDUP, 12.99%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1258  | 1238  | 1280  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332261.SRDUP, 26.71%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3650  | 3582  | 3792  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332282.SRDUP, 24.25%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 736  | 723  | 746  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332323.SRDUP, 24.15%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1594  | 1565  | 1634  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332372.SRDUP, 11.30%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 5367  | 5292  | 5448  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332416.SRDUP, 24.21%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 1227  | 1204  | 1258  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332419.SRDUP, 21.12%, 8/4/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 3096  | 3041  | 3177  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3332438.SRDUP, 16.85%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 6352  | 6184  | 681  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3333526.SRDUP, 16.48%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1250  | 1229  | 1269  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334163.SRDUP, 23.85%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 917  | 901  | 941  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334243.SRDUP, 13.25%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 117  | 117  | 117  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334276.SRDUP, 13.91%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 6631  | 6523  | 6746  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334336.SRDUP, 24.24%, 6/15/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 5514  | 5349  | 5676  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334497.SRDUP, 17.06%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 4001  | 3934  | 4062  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334522.SRDUP, 22.20%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1452  | 1416  | 1488  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334606.SRDUP, 14.89%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2999  | 2989  | 2982  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334644.SRDUP, 16.25%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 8162  | 8025  | 8288  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334780.SRDUP, 13.56%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 27587  | 26787  | 28072  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334786.SRDUP, 16.68%, 8/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 4272  | 4200  | 4337  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334820.SRDUP, 24.32%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2088  | 2050  | 2141  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334937.SRDUP, 12.64%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 822  | 808  | 836  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3334967.SRDUP, 21.24%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 9550  | 9378  | 9808  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335041.SRDUP, 24.28%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1828  | 1785  | 1885  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335049.SRDUP, 24.35%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1474  | 1447  | 1515  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335052.SRDUP, 19.86%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 43  | 43  | 43  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335057.SRDUP, 24.20%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 646  | 627  | 206  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335154.SRDUP, 19.62%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1350  | 1326  | 1389  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335157.SRDUP, 15.14%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 11806  | 11589  | 12003  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335193.SRDUP, 9.39%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 690  | 688  | 690  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335198.SRDUP, 11.20%, 8/5/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 257  | 256  | 257  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335206.SRDUP, 11.89%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 15341  | 15000  | 15608  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335255.SRDUP, 15.93%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1694  | 1666  | 1721  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335274.SRDUP, 19.94%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 11390  | 11191  | 11549  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335293.SRDUP, 24.28%, 1/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 13170  | 12787  | 13555  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335300.SRDUP, 20.77%, 1/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 1920  | 1892  | 1923  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335309.SRDUP, 21.34%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 597  | 586  | 614  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335310.SRDUP, 17.09%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2287  | 2248  | 2322  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335328.SRDUP, 22.19%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 9030  | 8868  | 9287  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335330.SRDUP, 12.79%, 8/5/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 2729  | 2685  | 2778  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3335372.SRDUP, 12.85%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 9262  | 9113  | 9421  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336587.SRDUP, 24.41%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 676  | 664  | 695  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **159** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336591.SRDUP, 18.08%, 8/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | $6547  | $6443  | $6652  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336612.SRDUP, 20.66%, 8/8/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 490  | 488  | 488  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336614.SRDUP, 24.39%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3772  | 3703  | 3865  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336615.SRDUP, 24.37%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1046  | 1027  | 1074  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336630.SRDUP, 14.29%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2204  | 2167  | 2240  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336656.SRDUP, 23.24%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 4863  | 4775  | 5006  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336710.SRDUP, 14.10%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2492  | 2451  | 2537  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336748.SRDUP, 10.37%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 26487  | 25848  | 26892  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336754.SRDUP, 23.89%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 580  | 570  | 594  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3336939.SRDUP, 24.36%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1500  | 1465  | 1541  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337038.SRDUP, 13.11%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 822  | 808  | 837  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337065.SRDUP, 19.46%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 669  | 649  | 97  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337105.SRDUP, 15.18%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2241  | 2204  | 2278  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337137.SRDUP, 22.45%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2235  | 2199  | 2297  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337154.SRDUP, 15.75%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 1160  | 1126  | 632  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337164.SRDUP, 13.34%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 17021  | 16744  | 17312  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337180.SRDUP, 21.63%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 11710  | 11501  | 12061  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337218.SRDUP, 23.75%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3545  | 3439  | 2079  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337257.SRDUP, 22.81%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 26887  | 26404  | 27694  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337295.SRDUP, 18.29%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 16096  | 15820  | 16347  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337320.SRDUP, 24.31%, 8/15/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2691  | 2617  | 2807  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337326.SRDUP, 20.19%, 1/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 752  | 731  | 764  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337328.SRDUP, 18.14%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3468  | 3409  | 3523  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337331.SRDUP, 14.34%, 8/8/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 5582  | 5454  | 5571  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337445.SRDUP, 24.26%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 726  | 713  | 745  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337519.SRDUP, 24.31%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2097  | 2049  | 2154  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337599.SRDUP, 18.51%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 601  | 591  | 599  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337620.SRDUP, 24.38%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 11569  | 11358  | 11874  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337668.SRDUP, 18.62%, 8/23/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2240  | 2201  | 2161  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337769.SRDUP, 24.32%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 10132  | 9947  | 10274  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337784.SRDUP, 24.07%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 5514  | 5414  | 5674  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337835.SRDUP, 14.20%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 3857  | 3793  | 3921  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337906.SRDUP, 16.31%, 8/8/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 6153  | 6022  | 6253  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3337947.SRDUP, 17.32%, 1/8/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 2619  | 2540  | 1362  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3338050.SRDUP, 24.22%, 8/8/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/11/2022 | 859  | 836  | 884  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3338664.SRDUP, 23.49%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 3877  | 3761  | 2282  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3340632.SRDUP, 17.80%, 8/19/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 15056  | 14798  | 15299  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3340846.SRDUP, 14.80%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 8368  | 8230  | 8510  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341076.SRDUP, 10.32%, 8/9/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1959  | 1902  | 1700  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341625.SRDUP, 17.08%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 7787  | 7655  | 7904  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341677.SRDUP, 13.13%, 8/9/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 159  | 159  | 159  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341749.SRDUP, 17.51%, 8/24/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 4792  | 4653  | 4873  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341805.SRDUP, 23.67%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2991  | 2937  | 3074  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341816.SRDUP, 20.30%, 1/16/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 21683  | 21257  | 21143  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341825.SRDUP, 13.75%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2151  | 2120  | 2188  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341837.SRDUP, 16.58%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 12299  | 12083  | 12496  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341925.SRDUP, 20.98%, 8/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 434  | 432  | 432  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3341955.SRDUP, 24.40%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1686  | 1650  | 1721  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342073.SRDUP, 23.36%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1035  | 1016  | 1063  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342120.SRDUP, 21.37%, 8/9/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 444  | 431  | 64  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342129.SRDUP, 22.43%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6032  | 5924  | 6203  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342154.SRDUP, 21.88%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3291  | 3233  | 3380  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **160** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342196.SRDUP, 22.70%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | $3185  | $3114  | $3267  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342241.SRDUP, 24.40%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3380  | 3318  | 3473  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342266.SRDUP, 24.40%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1798  | 1765  | 1848  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342287.SRDUP, 22.66%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3671  | 3566  | 3782  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342349.SRDUP, 12.04%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 2381  | 2343  | 2424  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342369.SRDUP, 18.65%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 6678  | 6478  | 3651  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342371.SRDUP, 13.72%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 552  | 543  | 562  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342388.SRDUP, 24.36%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 263  | 255  | 264  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342459.SRDUP, 24.34%, 8/9/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 5396  | 5235  | 779  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342477.SRDUP, 23.12%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1822  | 1789  | 1876  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342485.SRDUP, 24.31%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1474  | 1447  | 1514  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342537.SRDUP, 24.33%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1520  | 1495  | 1560  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342549.SRDUP, 17.64%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 863  | 848  | 877  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342573.SRDUP, 24.37%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 3503  | 3439  | 3599  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342624.SRDUP, 14.33%, 8/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/12/2022 | 1074  | 1056  | 1091  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3342908.SRDUP, 11.90%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 7533  | 7412  | 7634  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3343140.SRDUP, 19.76%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 5425  | 5330  | 5597  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3343534.SRDUP, 11.81%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 410  | 402  | 412  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344380.SRDUP, 15.30%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 10098  | 9930  | 10268  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344403.SRDUP, 22.37%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1206  | 1184  | 1241  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344527.SRDUP, 24.34%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 2291  | 2222  | 2347  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344597.SRDUP, 16.43%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 904  | 877  | 131  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344675.SRDUP, 16.66%, 8/24/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1361  | 1338  | 1384  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344676.SRDUP, 24.00%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 19655  | 19151  | 20218  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344681.SRDUP, 15.35%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 9260  | 9124  | 9418  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344765.SRDUP, 18.07%, 8/10/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 321  | 320  | 320  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344812.SRDUP, 10.51%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 10635  | 10467  | 10798  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344834.SRDUP, 21.36%, 8/10/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 147  | 146  | 146  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344903.SRDUP, 12.02%, 8/15/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 12464  | 12263  | 12699  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344977.SRDUP, 21.53%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 1490  | 1446  | 851  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3344994.SRDUP, 13.24%, 1/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 5253  | 5123  | 5375  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3345011.SRDUP, 24.01%, 8/10/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 12884  | 12542  | 2648  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3345081.SRDUP, 24.33%, 8/10/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2022 | 5103  | 4992  | 5245  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3388534.SRDUP, 22.23%, 9/1/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1924  | 1909  | 1914  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3390668.SRDUP, 22.47%, 9/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 171  | 170  | 169  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3390824.SRDUP, 20.97%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 13189  | 12950  | 13565  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391202.SRDUP, 16.98%, 9/11/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 4129  | 4058  | 4190  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391321.SRDUP, 15.58%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 694  | 683  | 705  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391351.SRDUP, 21.08%, 9/11/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 2757  | 2707  | 2830  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391362.SRDUP, 14.36%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 27577  | 27114  | 28004  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391407.SRDUP, 14.42%, 9/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 6994  | 6787  | 7103  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391411.SRDUP, 25.21%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 635  | 623  | 650  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391434.SRDUP, 23.72%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 12524  | 12292  | 12836  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391489.SRDUP, 23.36%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 4179  | 4058  | 4288  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391531.SRDUP, 15.72%, 9/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 555  | 553  | 551  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391572.SRDUP, 17.31%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 11782  | 11577  | 11955  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391613.SRDUP, 28.33%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 3389  | 3324  | 3518  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391617.SRDUP, 22.34%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 596  | 585  | 612  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391640.SRDUP, 12.14%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 16746  | 16470  | 17043  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391820.SRDUP, 24.72%, 9/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 6241  | 6094  | 6391  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391831.SRDUP, 19.68%, 9/1/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 328  | 320  | 47  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3391974.SRDUP, 26.50%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 1094  | 1075  | 1136  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **161** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3392064.SRDUP, 26.10%, 9/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | $569  | $566  | $566  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3392189.SRDUP, 11.72%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 13338  | 13120  | 13569  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3392406.SRDUP, 14.33%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 5715  | 5618  | 5805  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3393918.SRDUP, 13.27%, 9/9/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 8181  | 8044  | 8324  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394096.SRDUP, 14.19%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1872  | 1841  | 1894  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394268.SRDUP, 24.64%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 1078  | 1058  | 1082  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394336.SRDUP, 20.27%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 151  | 150  | 150  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394367.SRDUP, 18.49%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 5974  | 5868  | 6061  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394413.SRDUP, 21.88%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 5195  | 5098  | 5341  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394467.SRDUP, 28.56%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 4638  | 4548  | 4816  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394493.SRDUP, 25.08%, 2/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 35164  | 34395  | 36638  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394593.SRDUP, 28.14%, 2/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 4002  | 3907  | 4159  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394680.SRDUP, 20.76%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 6947  | 6822  | 7148  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394760.SRDUP, 21.48%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 2454  | 2409  | 2524  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394784.SRDUP, 13.16%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 2540  | 2498  | 2585  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394882.SRDUP, 19.04%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 4495  | 4415  | 4560  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394974.SRDUP, 9.60%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 223  | 222  | 223  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3394987.SRDUP, 18.43%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 3161  | 3112  | 3205  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3395116.SRDUP, 28.01%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 199  | 195  | 197  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3395140.SRDUP, 13.03%, 9/2/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 733  | 730  | 732  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401194.SRDUP, 22.61%, 2/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 4459  | 4334  | 4591  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401316.SRDUP, 15.39%, 9/6/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 5029  | 4878  | 726  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401321.SRDUP, 15.57%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 1727  | 1697  | 1755  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401351.SRDUP, 24.79%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 13833  | 13572  | 14179  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401522.SRDUP, 15.59%, 9/21/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 22020  | 21360  | 22262  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401534.SRDUP, 28.45%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 7919  | 7764  | 8197  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401599.SRDUP, 17.43%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 4483  | 4404  | 4554  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3401860.SRDUP, 22.93%, 9/6/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 162  | 161  | 161  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402012.SRDUP, 18.24%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 1462  | 1418  | 1484  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402023.SRDUP, 14.02%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 6834  | 6719  | 6949  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402058.SRDUP, 21.73%, 9/6/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 11528  | 11182  | 2334  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402156.SRDUP, 17.19%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 16182  | 15900  | 16440  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402546.SRDUP, 10.81%, 9/6/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 381  | 380  | 381  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402602.SRDUP, 17.98%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 8288  | 8140  | 8418  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3402648.SRDUP, 28.18%, 9/6/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2022 | 2800  | 2746  | 2877  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3470030.SRDUP, 16.60%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5570  | 5439  | 5672  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3484826.SRDUP, 16.21%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 23967  | 23538  | 24409  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3496979.SRDUP, 10.10%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 11270  | 11081  | 11470  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3498513.SRDUP, 21.69%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1544  | 1515  | 1575  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499728.SRDUP, 26.64%, 3/13/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 889  | 869  | 919  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499842.SRDUP, 24.37%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1482  | 1453  | 1529  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499895.SRDUP, 14.94%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3552  | 3488  | 3624  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499912.SRDUP, 17.90%, 10/28/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1492  | 1452  | 673  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499928.SRDUP, 21.59%, 7/13/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 19751  | 19159  | 2852  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3499960.SRDUP, 18.83%, 10/26/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 6454  | 6336  | 6559  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500057.SRDUP, 12.99%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4640  | 4570  | 4735  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500128.SRDUP, 12.31%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 11000  | 10811  | 11228  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500157.SRDUP, 18.67%, 10/28/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2208  | 2168  | 2242  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500169.SRDUP, 22.76%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1211  | 1188  | 1250  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500271.SRDUP, 13.28%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 27268  | 26519  | 27794  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500293.SRDUP, 14.63%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 8044  | 7903  | 8150  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500343.SRDUP, 11.65%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 729  | 725  | 728  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **162** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500371.SRDUP, 18.38%, 10/28/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | $12815  | $12478  | $13266  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500423.SRDUP, 16.29%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3723  | 3615  | 3791  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500458.SRDUP, 19.10%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4931  | 4840  | 5016  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500482.SRDUP, 15.02%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5328  | 5234  | 5428  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500484.SRDUP, 20.57%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 7553  | 7406  | 7775  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500488.SRDUP, 23.52%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 19900  | 19325  | 19170  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500497.SRDUP, 22.79%, 3/28/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4017  | 3910  | 598  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500563.SRDUP, 14.02%, 10/25/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 6585  | 6483  | 6709  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500600.SRDUP, 21.06%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 6277  | 6159  | 6483  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500620.SRDUP, 14.71%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 10967  | 10774  | 11156  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500652.SRDUP, 10.96%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 22537  | 22201  | 22921  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500697.SRDUP, 20.76%, 10/13/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1597  | 1588  | 1597  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500718.SRDUP, 20.37%, 10/13/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 12249  | 11882  | 1769  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500779.SRDUP, 24.29%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4521  | 4434  | 4667  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500805.SRDUP, 19.56%, 10/28/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1863  | 1831  | 1890  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500820.SRDUP, 24.33%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 842  | 826  | 860  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500831.SRDUP, 24.00%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 966  | 948  | 997  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500869.SRDUP, 16.64%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1335  | 1298  | 1357  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500895.SRDUP, 24.39%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 991  | 969  | 1021  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500901.SRDUP, 15.75%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1347  | 1323  | 1359  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500906.SRDUP, 17.79%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 4860  | 4770  | 4947  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500918.SRDUP, 22.64%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5592  | 5486  | 5649  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500949.SRDUP, 22.77%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 19169  | 18594  | 3852  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3500967.SRDUP, 21.28%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 6285  | 6173  | 6496  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501018.SRDUP, 10.44%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5655  | 5492  | 5755  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501070.SRDUP, 24.23%, 10/23/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1688  | 1655  | 1742  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501081.SRDUP, 21.06%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5289  | 5201  | 5464  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501102.SRDUP, 24.28%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3874  | 3800  | 4059  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501150.SRDUP, 16.65%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3310  | 3250  | 3371  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501245.SRDUP, 19.97%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 5342  | 5243  | 5524  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501266.SRDUP, 23.82%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 708  | 687  | 730  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501280.SRDUP, 17.21%, 10/14/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 3590  | 3525  | 3643  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501285.SRDUP, 24.33%, 3/13/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 1192  | 1156  | 1170  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3501346.SRDUP, 24.24%, 10/13/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2478  | 2404  | 358  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3521654.SRDUP, 24.34%, 4/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 5781  | 5608  | 2901  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3537611.SRDUP, 24.04%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 876  | 859  | 900  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3540203.SRDUP, 24.39%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 662  | 649  | 698  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3540501.SRDUP, 17.42%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 11375  | 11167  | 11534  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541676.SRDUP, 15.78%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 535  | 532  | 531  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541701.SRDUP, 11.36%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1438  | 1430  | 1434  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541799.SRDUP, 15.10%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4259  | 4182  | 4342  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541802.SRDUP, 9.90%, 11/9/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1835  | 1824  | 1834  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541850.SRDUP, 20.67%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 287  | 285  | 285  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541951.SRDUP, 16.90%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 9283  | 9113  | 9413  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541957.SRDUP, 10.31%, 11/1/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 219  | 218  | 219  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3541988.SRDUP, 18.94%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 2271  | 2228  | 2334  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542117.SRDUP, 21.53%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1886  | 1834  | 1942  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542151.SRDUP, 17.15%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1861  | 1827  | 1887  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542213.SRDUP, 12.46%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4742  | 4669  | 4840  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542239.SRDUP, 24.21%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1452  | 1424  | 1495  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542325.SRDUP, 10.23%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 9344  | 9129  | 9523  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542387.SRDUP, 21.82%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 8136  | 7921  | 8395  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **163** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542473.SRDUP, 16.92%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | $5572  | $5470  | $5650  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542487.SRDUP, 23.59%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 1107  | 1088  | 1113  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542519.SRDUP, 13.53%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4793  | 4709  | 4890  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542542.SRDUP, 24.36%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 859  | 843  | 881  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542586.SRDUP, 12.21%, 11/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 4005  | 3887  | 4053  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542618.SRDUP, 24.18%, 11/1/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2022 | 3123  | 3029  | 631  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542686.SRDUP, 22.77%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 5060  | 4962  | 5214  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542791.SRDUP, 9.84%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 13061  | 12839  | 13290  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542817.SRDUP, 21.09%, 11/16/2025 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1857  | 1841  | 1854  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542853.SRDUP, 22.93%, 11/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 5026  | 4931  | 5177  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542868.SRDUP, 22.09%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1297  | 1272  | 1337  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542873.SRDUP, 18.49%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 8544  | 8385  | 8662  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542906.SRDUP, 20.56%, 11/5/2025 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1021  | 1013  | 1018  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542911.SRDUP, 24.36%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 3248  | 3184  | 3345  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542922.SRDUP, 21.55%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 8378  | 8217  | 8604  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3542965.SRDUP, 24.37%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 1256  | 1231  | 1325  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3543042.SRDUP, 23.93%, 11/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 3571  | 3484  | 3650  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3543084.SRDUP, 21.49%, 11/2/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 19431  | 18881  | 19942  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3543101.SRDUP, 24.36%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 3107  | 3046  | 3200  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3543129.SRDUP, 17.95%, 11/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2022 | 16251  | 15950  | 16478  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3896190.SRDUP, 21.26%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5346  | 5326  | 5429  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3904726.SRDUP, 21.67%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2714  | 2708  | 2709  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3907695.SRDUP, 14.79%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 26773  | 26676  | 27043  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909571.SRDUP, 20.41%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 13756  | 13704  | 13950  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909780.SRDUP, 14.99%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 11178  | 11137  | 11290  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909787.SRDUP, 15.74%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 13703  | 13654  | 13838  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909795.SRDUP, 22.37%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5465  | 5439  | 5534  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909810.SRDUP, 18.39%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1793  | 1789  | 1788  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909816.SRDUP, 16.75%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 34147  | 34129  | 34465  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909854.SRDUP, 19.63%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5294  | 5275  | 5363  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909858.SRDUP, 16.80%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 17192  | 17129  | 17321  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909882.SRDUP, 15.31%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5750  | 5729  | 5807  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909895.SRDUP, 17.79%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12651  | 12643  | 12760  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909902.SRDUP, 15.63%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2324  | 2318  | 2298  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909914.SRDUP, 17.54%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 983  | 980  | 973  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909918.SRDUP, 13.63%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12423  | 12361  | 5622  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909955.SRDUP, 23.23%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 589  | 587  | 592  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909967.SRDUP, 18.85%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3514  | 3501  | 3561  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909971.SRDUP, 17.69%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 986  | 982  | 993  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909974.SRDUP, 14.89%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 4961  | 4943  | 4997  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909992.SRDUP, 19.61%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 3558  | 3549  | 3546  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3909996.SRDUP, 17.74%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 37922  | 37783  | 38194  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910026.SRDUP, 11.22%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 8079  | 8079  | 8235  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910042.SRDUP, 16.26%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 15027  | 14973  | 15172  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910056.SRDUP, 22.71%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1230  | 1225  | 1247  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910069.SRDUP, 20.20%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 9631  | 9591  | 9752  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910075.SRDUP, 23.01%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1174  | 1170  | 1189  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910082.SRDUP, 20.84%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2239  | 2230  | 2273  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910115.SRDUP, 20.80%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 30194  | 30043  | 30632  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910116.SRDUP, 16.19%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5257  | 5238  | 5351  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910168.SRDUP, 15.33%, 8/2/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 952  | 948  | 613  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910172.SRDUP, 22.51%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 9365  | 9330  | 9474  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **164** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910204.SRDUP, 23.23%, 1/2/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | $3080  | $3065  | $3077  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910205.SRDUP, 22.17%, 8/17/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 10765  | 10725  | 10907  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910210.SRDUP, 23.28%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2125  | 2118  | 2139  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910221.SRDUP, 15.97%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1350  | 1345  | 1363  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910229.SRDUP, 19.53%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1548  | 1544  | 1545  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910245.SRDUP, 19.86%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5171  | 5168  | 5161  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910255.SRDUP, 22.07%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12839  | 12791  | 13011  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910263.SRDUP, 23.08%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1474  | 1468  | 1493  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910266.SRDUP, 13.67%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 35958  | 35829  | 36657  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910282.SRDUP, 14.16%, 6/2/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 21273  | 21166  | 21677  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910314.SRDUP, 15.01%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 12288  | 12243  | 12411  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910341.SRDUP, 23.13%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2584  | 2575  | 2616  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910568.SRDUP, 15.76%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 603  | 603  | 596  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910648.SRDUP, 16.39%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 18819  | 18750  | 18963  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910699.SRDUP, 20.05%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1572  | 1564  | 1569  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910862.SRDUP, 23.21%, 8/2/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 21436  | 21334  | 11150  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910879.SRDUP, 19.74%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 37503  | 37365  | 37803  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910891.SRDUP, 12.36%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2366  | 2361  | 2353  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910902.SRDUP, 23.29%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 862  | 859  | 873  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910924.SRDUP, 24.25%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 23643  | 23553  | 23923  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910926.SRDUP, 13.94%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 5920  | 5899  | 5982  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3910932.SRDUP, 23.28%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 1568  | 1562  | 1585  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911143.SRDUP, 12.39%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2452  | 2446  | 2440  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911356.SRDUP, 17.80%, 8/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 4325  | 4309  | 4364  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911507.SRDUP, 19.51%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 4371  | 4354  | 4429  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911606.SRDUP, 16.00%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2258  | 2250  | 2277  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911642.SRDUP, 14.25%, 8/17/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2390  | 2383  | 2340  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911680.SRDUP, 18.69%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 8700  | 8667  | 8762  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911731.SRDUP, 18.13%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 17613  | 17549  | 17745  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911757.SRDUP, 14.93%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 17148  | 17066  | 17481  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911872.SRDUP, 23.70%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1959  | 1957  | 1989  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911885.SRDUP, 14.11%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 22887  | 22773  | 10809  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911913.SRDUP, 21.27%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1550  | 1544  | 1571  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3911996.SRDUP, 15.89%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 20988  | 20911  | 21198  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912003.SRDUP, 14.30%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3432  | 3424  | 3391  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912392.SRDUP, 11.21%, 8/3/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1944  | 1940  | 1942  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912433.SRDUP, 22.83%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 824  | 821  | 833  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912606.SRDUP, 16.66%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 8588  | 8557  | 8655  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912627.SRDUP, 23.39%, 8/18/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 7680  | 7670  | 7781  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912740.SRDUP, 17.04%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 2543  | 2533  | 2565  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912830.SRDUP, 16.89%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 36480  | 36346  | 36805  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912847.SRDUP, 14.07%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3704  | 3690  | 3736  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912865.SRDUP, 14.60%, 8/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 37448  | 37270  | 37774  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912959.SRDUP, 19.42%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 3831  | 3817  | 3894  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3912961.SRDUP, 10.62%, 8/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/8/2023 | 1925  | 1918  | 1958  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913011.SRDUP, 20.19%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 35216  | 35085  | 35749  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913166.SRDUP, 23.26%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 5484  | 5477  | 5569  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913170.SRDUP, 23.09%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 6851  | 6821  | 6937  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913218.SRDUP, 15.28%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 747  | 744  | 754  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913266.SRDUP, 22.60%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4451  | 4434  | 4510  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913271.SRDUP, 22.11%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 832  | 831  | 845  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913278.SRDUP, 23.29%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3631  | 3613  | 3684  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **165** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913291.SRDUP, 23.22%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | $7523  | $7495  | $7631  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913328.SRDUP, 20.41%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2920  | 2909  | 2946  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913333.SRDUP, 21.48%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 11637  | 11593  | 11786  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913346.SRDUP, 19.98%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 19180  | 19163  | 19493  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913349.SRDUP, 14.26%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 897  | 893  | 905  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913367.SRDUP, 12.13%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 31916  | 31802  | 32557  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913384.SRDUP, 24.07%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 4444  | 4422  | 4508  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913394.SRDUP, 21.64%, 1/4/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 852  | 848  | 414  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913429.SRDUP, 23.29%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 12822  | 12773  | 13021  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913469.SRDUP, 15.92%, 1/4/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1037  | 1032  | 1041  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913486.SRDUP, 23.97%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 947  | 943  | 956  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913495.SRDUP, 19.89%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7558  | 7531  | 7678  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913501.SRDUP, 17.54%, 8/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 6687  | 6662  | 6746  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913525.SRDUP, 21.45%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1784  | 1777  | 1799  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913536.SRDUP, 20.53%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 6869  | 6862  | 6977  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913545.SRDUP, 15.12%, 8/16/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 5771  | 5750  | 5821  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913546.SRDUP, 16.42%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1827  | 1820  | 1844  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913562.SRDUP, 15.96%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 22145  | 22034  | 5807  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913596.SRDUP, 12.87%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 7347  | 7321  | 7499  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913597.SRDUP, 20.95%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 13920  | 13868  | 14152  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913850.SRDUP, 18.65%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 11053  | 11012  | 11156  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913938.SRDUP, 21.98%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 6224  | 6201  | 6303  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3913978.SRDUP, 23.13%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 2654  | 2643  | 2693  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3914153.SRDUP, 23.13%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 568  | 565  | 572  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3914229.SRDUP, 23.26%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 3336  | 3322  | 3387  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3914293.SRDUP, 20.60%, 8/4/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 1075  | 1071  | 1092  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3914449.SRDUP, 13.16%, 8/4/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 591  | 590  | 589  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3914550.SRDUP, 22.82%, 8/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2023 | 782  | 779  | 794  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954127.SRDUP, 24.88%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 7720  | 7682  | 7781  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954160.SRDUP, 19.18%, 9/1/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 937  | 932  | 195  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954179.SRDUP, 22.25%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3545  | 3531  | 3583  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954255.SRDUP, 18.60%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 3495  | 3478  | 3512  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954362.SRDUP, 25.45%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1691  | 1684  | 1704  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954367.SRDUP, 14.41%, 9/1/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 525  | 524  | 523  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954459.SRDUP, 22.46%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 1495  | 1490  | 1509  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954509.SRDUP, 21.53%, 9/1/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 37284  | 37191  | 37652  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3954555.SRDUP, 13.54%, 9/1/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2023 | 20990  | 20914  | 21175  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955689.SRDUP, 21.83%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1607  | 1607  | 1621  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955810.SRDUP, 16.94%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1864  | 1859  | 1841  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955821.SRDUP, 15.08%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 482  | 480  | 479  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955835.SRDUP, 23.21%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1347  | 1342  | 1366  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955838.SRDUP, 17.72%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 25778  | 25681  | 25990  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955869.SRDUP, 17.66%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1389  | 1383  | 1400  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3955981.SRDUP, 17.11%, 9/19/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 18963  | 18892  | 19088  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956012.SRDUP, 21.17%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 572  | 570  | 567  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956047.SRDUP, 14.69%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2633  | 2626  | 2601  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956096.SRDUP, 11.81%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 22319  | 22238  | 22781  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956164.SRDUP, 17.83%, 2/5/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 12900  | 12836  | 12937  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956173.SRDUP, 24.39%, 2/5/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 2380  | 2377  | 2302  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956243.SRDUP, 12.26%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 3358  | 3346  | 3426  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956267.SRDUP, 23.84%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 15338  | 15280  | 15487  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956273.SRDUP, 21.47%, 2/5/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 26191  | 26060  | 11954  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **166** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956281.SRDUP, 10.90%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | $36977  | $36843  | $37708  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956297.SRDUP, 21.53%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1184  | 1179  | 1197  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956327.SRDUP, 20.43%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 8424  | 8383  | 8485  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956429.SRDUP, 14.24%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 525  | 524  | 523  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956466.SRDUP, 21.53%, 2/15/2029 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 9571  | 9534  | 9622  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956484.SRDUP, 15.55%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 4237  | 4227  | 4187  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956508.SRDUP, 14.39%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 905  | 902  | 914  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956519.SRDUP, 23.18%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 1137  | 1132  | 1132  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956717.SRDUP, 21.62%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5524  | 5502  | 5606  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3956751.SRDUP, 21.26%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5531  | 5504  | 5600  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3957334.SRDUP, 19.23%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 9610  | 9562  | 4612  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3957528.SRDUP, 16.67%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 37009  | 36872  | 37297  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3957561.SRDUP, 14.62%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 18189  | 18122  | 18522  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3957863.SRDUP, 20.18%, 9/5/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 713  | 711  | 711  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3958512.SRDUP, 21.73%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 15792  | 15731  | 16025  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3958578.SRDUP, 20.17%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 861  | 858  | 873  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3958903.SRDUP, 16.62%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 37418  | 37423  | 37722  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3958982.SRDUP, 21.50%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 32016  | 31894  | 32421  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3959169.SRDUP, 17.84%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 11576  | 11533  | 11755  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3959379.SRDUP, 15.62%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 5902  | 5903  | 5944  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3959963.SRDUP, 22.58%, 9/5/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 47653  | 47415  | 6881  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3959969.SRDUP, 24.18%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 960  | 956  | 970  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3960142.SRDUP, 16.19%, 9/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2023 | 11447  | 11404  | 11546  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3960552.SRDUP, 20.34%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 7757  | 7727  | 7870  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3960920.SRDUP, 23.62%, 9/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 1706  | 1700  | 1727  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3961216.SRDUP, 16.08%, 9/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2023 | 27339  | 27204  | 12901  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4007525.SRDUP, 12.42%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 19050  | 18975  | 19424  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008005.SRDUP, 19.80%, 10/15/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4802  | 4783  | 4848  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008044.SRDUP, 15.34%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5569  | 5554  | 5496  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008049.SRDUP, 21.83%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3695  | 3681  | 3744  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008052.SRDUP, 17.66%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 14845  | 14788  | 15047  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008092.SRDUP, 12.27%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 25125  | 25021  | 25605  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008129.SRDUP, 22.58%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 16935  | 16868  | 17152  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008136.SRDUP, 14.69%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 14599  | 14544  | 14656  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008179.SRDUP, 17.17%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 11749  | 11704  | 11832  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008234.SRDUP, 20.38%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 19854  | 19777  | 20126  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008235.SRDUP, 22.93%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 24584  | 24487  | 24888  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008262.SRDUP, 17.39%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 8095  | 8055  | 8144  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008264.SRDUP, 16.33%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 15454  | 15376  | 15566  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008279.SRDUP, 16.67%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 10936  | 10894  | 11016  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008337.SRDUP, 21.04%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 14710  | 14637  | 7096  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008356.SRDUP, 19.19%, 10/6/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1317  | 1311  | 1311  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008357.SRDUP, 22.06%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 20103  | 20025  | 20366  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008372.SRDUP, 12.35%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4264  | 4248  | 4349  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008380.SRDUP, 23.45%, 10/15/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 815  | 811  | 823  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008385.SRDUP, 14.87%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3942  | 3928  | 3974  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008387.SRDUP, 18.96%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2368  | 2359  | 2383  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008409.SRDUP, 21.11%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 12003  | 11956  | 12165  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008451.SRDUP, 17.84%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7076  | 7049  | 7125  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008452.SRDUP, 21.33%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 40058  | 39902  | 40595  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008497.SRDUP, 15.95%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 502  | 500  | 502  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008507.SRDUP, 6.00%, 10/16/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3878  | 3863  | 3876  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **167** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008508.SRDUP, 20.53%, 3/6/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | $12066  | $12012  | $11935  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008533.SRDUP, 20.84%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 3658  | 3644  | 3702  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008546.SRDUP, 11.15%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1245  | 1242  | 1244  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008561.SRDUP, 22.42%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 2175  | 2167  | 2203  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008563.SRDUP, 20.43%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 11232  | 11187  | 11344  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008565.SRDUP, 23.28%, 3/6/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 28447  | 28305  | 4108  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008571.SRDUP, 22.06%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 40207  | 40050  | 40670  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008576.SRDUP, 17.03%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 1096  | 1092  | 1104  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008619.SRDUP, 13.75%, 10/21/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 26230  | 26204  | 25062  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008663.SRDUP, 16.96%, 10/6/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 6204  | 6173  | 3940  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008676.SRDUP, 13.72%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7142  | 7123  | 7122  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008679.SRDUP, 13.51%, 3/18/2029 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 41246  | 41198  | 41200  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008683.SRDUP, 13.46%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7022  | 7003  | 6984  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008684.SRDUP, 19.68%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 19855  | 19779  | 19979  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008690.SRDUP, 18.54%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4149  | 4138  | 4125  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008732.SRDUP, 20.94%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 39976  | 39821  | 40458  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4008799.SRDUP, 17.73%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 5343  | 5322  | 5415  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009116.SRDUP, 23.47%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 4418  | 4401  | 4466  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009372.SRDUP, 11.70%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 26485  | 26386  | 27024  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009414.SRDUP, 17.39%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2666  | 2663  | 2687  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009582.SRDUP, 23.38%, 10/6/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 10632  | 10582  | 10733  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009689.SRDUP, 19.05%, 10/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 7915  | 7885  | 7966  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009738.SRDUP, 12.18%, 10/6/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 18501  | 18452  | 18405  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009761.SRDUP, 19.74%, 10/6/2026 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/12/2023 | 575  | 572  | 572  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009943.SRDUP, 23.02%, 10/15/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 18320  | 18248  | 18533  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4009993.SRDUP, 23.51%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 8040  | 8000  | 8153  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4010071.SRDUP, 20.99%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12796  | 12746  | 12882  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4010303.SRDUP, 18.89%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5659  | 5637  | 5739  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4010443.SRDUP, 19.61%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 15878  | 15816  | 16103  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4010561.SRDUP, 12.05%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 38001  | 37860  | 38794  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4010910.SRDUP, 20.65%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 39918  | 39762  | 40463  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011063.SRDUP, 20.63%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 14326  | 14270  | 14520  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011105.SRDUP, 22.47%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 6386  | 6361  | 6477  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011139.SRDUP, 15.25%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2330  | 2321  | 2346  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011207.SRDUP, 21.69%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 934  | 931  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011229.SRDUP, 17.78%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3047  | 3033  | 3070  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011256.SRDUP, 22.34%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 15707  | 15647  | 15882  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011423.SRDUP, 23.22%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 10602  | 10558  | 10706  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011503.SRDUP, 13.50%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12728  | 12680  | 12984  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011526.SRDUP, 17.51%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5886  | 5863  | 5933  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4011587.SRDUP, 18.07%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 14600  | 14540  | 14699  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012063.SRDUP, 22.95%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1131  | 1130  | 1147  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012174.SRDUP, 21.99%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5627  | 5605  | 5711  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012216.SRDUP, 17.96%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12639  | 12576  | 1440  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012374.SRDUP, 23.26%, 10/10/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2604  | 2591  | 376  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012445.SRDUP, 21.66%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2435  | 2428  | 2432  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012536.SRDUP, 21.94%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2414  | 2405  | 2443  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012708.SRDUP, 11.54%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 1629  | 1627  | 1627  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012802.SRDUP, 14.60%, 10/10/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 10958  | 10928  | 10905  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012811.SRDUP, 20.16%, 10/15/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 2715  | 2712  | 2744  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012878.SRDUP, 22.72%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 18156  | 18084  | 18419  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012893.SRDUP, 13.34%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 19274  | 19201  | 19663  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **168** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012899.SRDUP, 14.84%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | $2619  | $2610  | $2641  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4012951.SRDUP, 20.55%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 9016  | 8981  | 9078  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4013214.SRDUP, 22.61%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 5156  | 5135  | 5230  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4013573.SRDUP, 15.30%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 11624  | 11611  | 11726  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4014155.SRDUP, 15.84%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 38866  | 38718  | 39199  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4014639.SRDUP, 11.40%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 12853  | 12806  | 13107  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4014835.SRDUP, 24.03%, 10/17/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 9123  | 9118  | 9225  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4015135.SRDUP, 20.62%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 3957  | 3937  | 4010  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4015484.SRDUP, 15.23%, 10/10/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/13/2023 | 15492  | 15433  | 15628  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4015659.SRDUP, 23.24%, 10/11/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/16/2023 | 2877  | 2863  | 604  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4984825.SRDUP, 16.86%, 2/17/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 9641  | 9641  | 9555  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4986572.SRDUP, 11.49%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 47651  | 47651  | 47434  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4992465.SRDUP, 22.47%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 49468  | 49468  | 21291  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4995197.SRDUP, 20.69%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5583  | 5583  | 5467  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996129.SRDUP, 23.26%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 3036  | 3047  | 2933  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996189.SRDUP, 18.50%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 9774  | 9774  | 9571  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996199.SRDUP, 19.67%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 25356  | 25356  | 24826  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996397.SRDUP, 17.47%, 2/3/2028 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 2868  | 2868  | 2802  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996409.SRDUP, 22.96%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4413  | 4413  | 4261  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996413.SRDUP, 14.08%, 2/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4979  | 4979  | 4941  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996433.SRDUP, 22.57%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 23218  | 23218  | 22732  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996448.SRDUP, 23.68%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 48064  | 48064  | 47041  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996550.SRDUP, 23.28%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3531  | 3531  | 3444  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996556.SRDUP, 18.10%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 2152  | 2152  | 2107  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996735.SRDUP, 16.89%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 13295  | 13295  | 13021  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4996834.SRDUP, 15.88%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 17391  | 17391  | 17180  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997295.SRDUP, 14.66%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 15313  | 15313  | 15130  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997333.SRDUP, 22.92%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 13728  | 13728  | 13388  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997514.SRDUP, 25.92%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 4713  | 4713  | 4550  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997676.SRDUP, 20.23%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 7294  | 7294  | 7144  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997805.SRDUP, 21.12%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2253  | 2253  | 2207  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4997897.SRDUP, 13.43%, 2/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2025 | 7512  | 7512  | 7423  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998181.SRDUP, 18.95%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4403  | 4403  | 4313  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998215.SRDUP, 22.91%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 18408  | 18408  | 17960  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998216.SRDUP, 19.38%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 8334  | 8334  | 8164  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998224.SRDUP, 18.39%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3229  | 3229  | 3162  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998361.SRDUP, 14.84%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 18272  | 18272  | 18056  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998475.SRDUP, 22.22%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4901  | 4901  | 4782  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998509.SRDUP, 15.41%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 7423  | 7423  | 7335  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998545.SRDUP, 17.15%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3911  | 3911  | 3864  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998555.SRDUP, 18.95%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 27401  | 27401  | 26839  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998564.SRDUP, 23.03%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5589  | 5608  | 5400  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998589.SRDUP, 16.79%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 6549  | 6549  | 6470  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998620.SRDUP, 14.42%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3807  | 3807  | 3762  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998678.SRDUP, 22.75%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3530  | 3530  | 3410  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998689.SRDUP, 14.47%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1660  | 1660  | 1640  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998724.SRDUP, 23.11%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3334  | 3346  | 3221  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998755.SRDUP, 21.71%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 15680  | 15733  | 15353  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998759.SRDUP, 21.75%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2744  | 2744  | 2677  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4998862.SRDUP, 19.21%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4151  | 4151  | 4067  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999514.SRDUP, 19.02%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 10000  | 10000  | 2517  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999526.SRDUP, 15.97%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 928  | 928  | 913  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **169** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999617.SRDUP, 19.54%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | $911  | $911  | $890  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999622.SRDUP, 14.67%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1049  | 1049  | 1031  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999762.SRDUP, 22.63%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 5474  | 5474  | 5342  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999839.SRDUP, 17.96%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 7238  | 7238  | 7150  |
| &nbsp;&nbsp;&nbsp;&nbsp; L4999967.SRDUP, 19.67%, 2/4/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1094  | 1094  | 467  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000074.SRDUP, 21.69%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 46059  | 46059  | 44940  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000089.SRDUP, 19.14%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2447  | 2447  | 2397  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000108.SRDUP, 18.57%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 2153  | 2153  | 2108  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000422.SRDUP, 22.39%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 9693  | 9693  | 9524  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000484.SRDUP, 13.06%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 15220  | 15220  | 15043  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5000570.SRDUP, 16.27%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 1051  | 1051  | 1033  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001154.SRDUP, 23.12%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 11277  | 11277  | 10896  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001203.SRDUP, 19.58%, 2/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 4540  | 4540  | 4439  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001260.SRDUP, 13.35%, 2/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 3024  | 3024  | 3010  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001566.SRDUP, 15.96%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1051  | 1051  | 1033  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001696.SRDUP, 24.32%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 3181  | 3181  | 3075  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001710.SRDUP, 19.81%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1077  | 1077  | 1055  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001801.SRDUP, 19.52%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2011  | 2011  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001817.SRDUP, 25.93%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 7172  | 7172  | 6932  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001851.SRDUP, 23.22%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4821  | 4821  | 4740  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001861.SRDUP, 23.16%, 2/16/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 15691  | 15691  | 15167  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001874.SRDUP, 23.16%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 15691  | 15691  | 15167  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5001894.SRDUP, 16.89%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 7805  | 7805  | 7712  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002548.SRDUP, 18.20%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 38347  | 38347  | 37573  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002604.SRDUP, 17.02%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 8505  | 8505  | 8404  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002731.SRDUP, 18.22%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2152  | 2152  | 2109  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002759.SRDUP, 21.01%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2253  | 2253  | 2207  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002914.SRDUP, 22.66%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2941  | 2941  | 2871  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002945.SRDUP, 18.87%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1272  | 1272  | 1246  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002954.SRDUP, 21.76%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2352  | 2352  | 2296  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002967.SRDUP, 23.21%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 45602  | 45602  | 44533  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002980.SRDUP, 21.31%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2254  | 2254  | 2207  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002993.SRDUP, 12.30%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1462  | 1462  | 1446  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5002995.SRDUP, 21.40%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 30428  | 30428  | 29811  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003003.SRDUP, 19.30%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 14193  | 14193  | 13856  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003044.SRDUP, 22.29%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 44602  | 44602  | 43531  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003046.SRDUP, 16.61%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 21329  | 21402  | 21146  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003078.SRDUP, 19.36%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1819  | 1819  | 1778  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003132.SRDUP, 22.27%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 8915  | 8915  | 8618  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003133.SRDUP, 22.93%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 44125  | 44125  | 42655  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003409.SRDUP, 12.67%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 1021  | 1021  | 1010  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003435.SRDUP, 19.77%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2658  | 2658  | 2608  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003629.SRDUP, 15.74%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 29709  | 29709  | 29359  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003862.SRDUP, 18.88%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5872  | 5891  | 5733  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003866.SRDUP, 23.25%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2746  | 2755  | 2680  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003925.SRDUP, 13.80%, 2/5/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 2480  | 2480  | 2454  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5003993.SRDUP, 23.01%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 10590  | 10590  | 10237  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5004054.SRDUP, 18.78%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 10541  | 10541  | 10330  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5004069.SRDUP, 18.85%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 36599  | 36599  | 35857  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5004114.SRDUP, 14.76%, 2/5/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 40746  | 40746  | 40269  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5004620.SRDUP, 18.67%, 2/5/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 5239  | 5239  | 5133  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5004849.SRDUP, 22.69%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 5286  | 5286  | 5162  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **170** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006362.SRDUP, 19.82%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | $5874  | $5874  | $5804  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006424.SRDUP, 13.26%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 31175  | 31175  | 30820  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006467.SRDUP, 24.33%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1177  | 1177  | 1153  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006674.SRDUP, 18.76%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 3425  | 3436  | 3384  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006686.SRDUP, 24.28%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 3140  | 3140  | 3075  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006717.SRDUP, 24.35%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 47034  | 47034  | 46238  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006720.SRDUP, 15.17%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1050  | 1050  | 1027  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006937.SRDUP, 23.27%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 16016  | 16016  | 15733  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5006993.SRDUP, 19.83%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2380  | 2380  | 2333  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007009.SRDUP, 15.38%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 959  | 959  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007014.SRDUP, 23.91%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 2239  | 2239  | 2166  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007027.SRDUP, 23.28%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4021  | 4021  | 3927  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007449.SRDUP, 21.93%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 24502  | 24502  | 24005  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007462.SRDUP, 16.22%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 21303  | 21303  | 21054  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007512.SRDUP, 16.15%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2150  | 2150  | 2125  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007616.SRDUP, 13.46%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 15627  | 15627  | 15467  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007750.SRDUP, 23.18%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 1076  | 1079  | 1042  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007898.SRDUP, 23.22%, 2/6/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 6963  | 6963  | 6734  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5007953.SRDUP, 19.84%, 2/6/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 4788  | 4788  | 4706  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008195.SRDUP, 20.78%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9697  | 9697  | 9504  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008303.SRDUP, 14.54%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 921  | 921  | 906  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008312.SRDUP, 21.52%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2352  | 2352  | 2305  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008313.SRDUP, 18.21%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5478  | 5478  | 5414  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008338.SRDUP, 23.27%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 23439  | 23439  | 22680  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008345.SRDUP, 25.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 23215  | 23215  | 22755  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008349.SRDUP, 16.52%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4300  | 4315  | 4251  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008362.SRDUP, 21.47%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10681  | 10717  | 10467  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008386.SRDUP, 17.38%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9067  | 9067  | 8961  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008426.SRDUP, 23.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7845  | 7845  | 7591  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008427.SRDUP, 25.68%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 24254  | 24339  | 23694  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008431.SRDUP, 15.91%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3273  | 3273  | 3242  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008454.SRDUP, 23.30%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3923  | 3923  | 3831  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008503.SRDUP, 15.43%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6016  | 6016  | 5917  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008504.SRDUP, 19.08%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7657  | 7657  | 7489  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008523.SRDUP, 22.63%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1471  | 1471  | 1441  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008549.SRDUP, 19.55%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 42583  | 42583  | 41741  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008557.SRDUP, 18.35%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5576  | 5576  | 5467  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008568.SRDUP, 21.72%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1663  | 1669  | 1624  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008574.SRDUP, 15.30%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3628  | 3628  | 3569  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008593.SRDUP, 17.54%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5378  | 5378  | 5273  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008595.SRDUP, 15.72%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5275  | 5293  | 5215  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008608.SRDUP, 17.34%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1662  | 1662  | 1643  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008668.SRDUP, 22.42%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1961  | 1961  | 1921  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008671.SRDUP, 19.90%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1156  | 1156  | 1133  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008714.SRDUP, 11.67%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4101  | 4101  | 4073  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008735.SRDUP, 9.68%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1219  | 1219  | 1214  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008741.SRDUP, 18.82%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5578  | 5578  | 5468  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008893.SRDUP, 23.18%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 9786  | 9786  | 9470  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5008928.SRDUP, 13.16%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2098  | 2098  | 2076  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009165.SRDUP, 23.14%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 981  | 981  | 958  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009355.SRDUP, 21.23%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5283  | 5283  | 5179  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009517.SRDUP, 14.75%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 19415  | 19415  | 19099  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **171** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009591.SRDUP, 19.50%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $1566  | $1566  | $1535  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009611.SRDUP, 23.10%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5425  | 5425  | 5251  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009735.SRDUP, 12.57%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4681  | 4681  | 4659  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009759.SRDUP, 10.80%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5065  | 5065  | 5045  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009785.SRDUP, 21.94%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 11173  | 11173  | 10913  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009790.SRDUP, 15.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 19532  | 19532  | 19309  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009807.SRDUP, 21.02%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4408  | 4408  | 4321  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009816.SRDUP, 23.21%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2256  | 2256  | 2203  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009820.SRDUP, 17.42%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2402  | 2402  | 2374  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009837.SRDUP, 21.08%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4897  | 4897  | 4800  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009927.SRDUP, 22.97%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2248  | 2248  | 2195  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009957.SRDUP, 23.11%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2059  | 2059  | 2011  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5009972.SRDUP, 13.33%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1049  | 1049  | 1032  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010013.SRDUP, 22.73%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2745  | 2745  | 2681  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010060.SRDUP, 19.77%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5458  | 5458  | 5351  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010078.SRDUP, 18.70%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1174  | 1174  | 1151  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010083.SRDUP, 20.75%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 7239  | 7239  | 7103  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010084.SRDUP, 17.89%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 48903  | 48903  | 48331  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010089.SRDUP, 19.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 8365  | 8365  | 8202  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010090.SRDUP, 22.93%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4837  | 4837  | 4724  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010109.SRDUP, 22.80%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2941  | 2941  | 2873  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010128.SRDUP, 23.13%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5590  | 5590  | 5459  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010139.SRDUP, 12.64%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4973  | 4973  | 4923  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010145.SRDUP, 23.14%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4797  | 4797  | 4690  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010147.SRDUP, 23.22%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1667  | 1667  | 1613  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010156.SRDUP, 20.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3428  | 3428  | 3349  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010167.SRDUP, 19.36%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3324  | 3336  | 3259  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010169.SRDUP, 18.49%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3229  | 3229  | 3191  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010177.SRDUP, 20.66%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2253  | 2253  | 2201  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010180.SRDUP, 21.16%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14670  | 14670  | 14377  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010193.SRDUP, 23.23%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3629  | 3629  | 3543  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010218.SRDUP, 21.07%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5290  | 5290  | 5227  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010221.SRDUP, 23.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3406  | 3406  | 3296  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010233.SRDUP, 16.18%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4586  | 4586  | 4510  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010251.SRDUP, 18.06%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 3228  | 3228  | 3165  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010295.SRDUP, 19.39%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 4271  | 4271  | 4293  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010329.SRDUP, 23.23%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5688  | 5688  | 5555  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010330.SRDUP, 21.97%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2548  | 2548  | 2497  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010331.SRDUP, 19.69%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 48950  | 48950  | 47980  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010335.SRDUP, 17.98%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 10629  | 10629  | 10420  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010344.SRDUP, 21.49%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1274  | 1274  | 1248  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010350.SRDUP, 21.30%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 5879  | 5899  | 5761  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010386.SRDUP, 17.80%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 6830  | 6853  | 6751  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010562.SRDUP, 22.86%, 2/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1055  | 1055  | 1037  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010566.SRDUP, 19.32%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 13307  | 13307  | 13046  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010619.SRDUP, 26.19%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 14534  | 14534  | 14058  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010641.SRDUP, 21.28%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 979  | 979  | 959  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010650.SRDUP, 14.94%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 11425  | 11425  | 11294  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010653.SRDUP, 16.83%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 26625  | 26625  | 26404  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010695.SRDUP, 16.04%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2736  | 2736  | 2704  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010700.SRDUP, 15.03%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 1461  | 1461  | 1454  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010707.SRDUP, 21.42%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2911  | 2911  | 2853  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **172** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010713.SRDUP, 24.34%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | $1815  | $1815  | $1773  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010735.SRDUP, 15.07%, 2/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 41015  | 41015  | 40547  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5010736.SRDUP, 19.17%, 2/7/2030 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 2139  | 2139  | 2114  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5164054.SRDUP, 13.57%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1600  | 1600  | 1593  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5173492.SRDUP, 19.23%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4900  | 4900  | 4861  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5175703.SRDUP, 20.15%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 27503  | 27503  | 27283  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5175744.SRDUP, 15.98%, 4/2/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 3400  | 3412  | 3377  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5175910.SRDUP, 11.01%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 44266  | 44266  | 44188  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176041.SRDUP, 15.86%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 17100  | 17100  | 17018  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176178.SRDUP, 14.76%, 4/2/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/7/2025 | 25000  | 25000  | 24882  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176849.SRDUP, 14.38%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9100  | 9100  | 9058  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176866.SRDUP, 26.14%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2274  | 2274  | 2241  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176879.SRDUP, 12.99%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8500  | 8500  | 8484  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176890.SRDUP, 20.28%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 11300  | 11300  | 11190  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176924.SRDUP, 20.87%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2900  | 2877  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176972.SRDUP, 21.46%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5644  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5176999.SRDUP, 19.54%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1365  | 1365  | 1355  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177018.SRDUP, 23.08%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8477  | 8477  | 8395  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177024.SRDUP, 22.66%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2300  | 2300  | 2277  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177044.SRDUP, 15.67%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 22377  | 22377  | 22273  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177059.SRDUP, 11.48%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6400  | 6400  | 6389  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177104.SRDUP, 23.54%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1577  | 1577  | 1562  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177105.SRDUP, 25.26%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177120.SRDUP, 16.69%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2500  | 2500  | 2484  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177137.SRDUP, 21.63%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2800  | 2810  | 2772  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177154.SRDUP, 15.32%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4500  | 4500  | 4479  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177160.SRDUP, 17.47%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1662  | 1662  | 1655  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177163.SRDUP, 21.50%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 50000  | 50000  | 49508  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177166.SRDUP, 13.50%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13000  | 13045  | 12948  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177171.SRDUP, 14.42%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 16000  | 16000  | 15897  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177179.SRDUP, 18.27%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6500  | 6500  | 6449  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177213.SRDUP, 10.83%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3200  | 3200  | 3195  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177226.SRDUP, 23.13%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5790  | 5790  | 5739  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177229.SRDUP, 13.40%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 49201  | 49370  | 48978  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177245.SRDUP, 10.29%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2804  | 2804  | 2800  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177265.SRDUP, 23.23%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3400  | 3352  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177280.SRDUP, 18.72%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6000  | 6000  | 5953  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177282.SRDUP, 23.57%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 8000  | 8000  | 7921  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177288.SRDUP, 12.44%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 12200  | 12200  | 12178  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177293.SRDUP, 22.41%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3100  | 3100  | 3069  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177295.SRDUP, 21.23%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4200  | 4200  | 4159  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177335.SRDUP, 14.72%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 21000  | 21000  | 20904  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177347.SRDUP, 20.33%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1218  | 1218  | 1209  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177368.SRDUP, 25.90%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3000  | 3000  | 2957  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177376.SRDUP, 18.46%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2700  | 2700  | 2675  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177389.SRDUP, 19.78%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 13500  | 13500  | 13376  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177399.SRDUP, 22.25%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5644  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177405.SRDUP, 16.64%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3100  | 3100  | 3080  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177406.SRDUP, 16.36%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10900  | 10900  | 10829  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177430.SRDUP, 24.49%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 23992  | 23992  | 23663  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177464.SRDUP, 23.27%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5100  | 5100  | 5049  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5177738.SRDUP, 22.33%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2000  | 2000  | 1980  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **173** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178112.SRDUP, 23.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $12000  | $12042  | $11831  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178228.SRDUP, 20.90%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6700  | 6700  | 6667  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178245.SRDUP, 12.89%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2200  | 2200  | 2191  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178490.SRDUP, 26.08%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6500  | 6500  | 6408  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178645.SRDUP, 18.11%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 7600  | 7600  | 7564  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178656.SRDUP, 19.40%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4400  | 4400  | 4365  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178690.SRDUP, 23.62%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5578  | 5578  | 5500  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178697.SRDUP, 15.70%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 20500  | 20500  | 20405  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178703.SRDUP, 24.79%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 39000  | 39000  | 38448  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178794.SRDUP, 14.67%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4400  | 4400  | 4380  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178801.SRDUP, 22.98%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1700  | 1700  | 1676  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178803.SRDUP, 15.94%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10900  | 10900  | 10829  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178838.SRDUP, 10.52%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 26834  | 26834  | 26792  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178851.SRDUP, 23.11%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3850  | 3850  | 3814  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178870.SRDUP, 18.57%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3400  | 3384  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178871.SRDUP, 20.32%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 963  | 963  | 957  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178884.SRDUP, 22.90%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5800  | 5800  | 5743  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178907.SRDUP, 21.92%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10900  | 10938  | 10812  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178908.SRDUP, 17.26%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1189  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178909.SRDUP, 18.00%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 26200  | 26292  | 26076  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178925.SRDUP, 21.65%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2800  | 2800  | 2778  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178931.SRDUP, 17.06%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3300  | 3312  | 3285  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178935.SRDUP, 15.87%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5700  | 5700  | 5663  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178944.SRDUP, 23.27%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4500  | 4500  | 4455  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178954.SRDUP, 15.55%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3700  | 3700  | 3683  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178967.SRDUP, 22.46%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 17500  | 17500  | 17254  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178969.SRDUP, 23.81%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2900  | 2910  | 2871  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178970.SRDUP, 23.26%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10700  | 10700  | 10594  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178974.SRDUP, 17.28%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1194  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178976.SRDUP, 13.16%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4000  | 4014  | 3984  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178978.SRDUP, 12.81%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1100  | 1100  | 1096  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5178993.SRDUP, 19.80%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 25637  | 25637  | 25438  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179039.SRDUP, 17.86%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 38100  | 38100  | 37800  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179314.SRDUP, 14.89%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10500  | 10500  | 10452  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179315.SRDUP, 21.43%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14783  | 14783  | 14641  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179326.SRDUP, 25.43%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 19600  | 19600  | 19404  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179329.SRDUP, 18.68%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2200  | 2200  | 2180  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179333.SRDUP, 16.49%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5000  | 5000  | 4967  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179415.SRDUP, 18.95%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1000  | 1000  | 991  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179451.SRDUP, 20.04%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 9828  | 9828  | 9781  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179491.SRDUP, 19.74%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4400  | 4400  | 4365  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179493.SRDUP, 16.70%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 22378  | 22378  | 22274  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179532.SRDUP, 19.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 49200  | 49200  | 48809  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179616.SRDUP, 16.68%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 4000  | 4000  | 3981  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179828.SRDUP, 20.61%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 50000  | 50000  | 49601  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179837.SRDUP, 24.31%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 31000  | 31000  | 30691  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179855.SRDUP, 22.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2700  | 2700  | 2678  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179861.SRDUP, 16.42%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 14970  | 14970  | 14900  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179870.SRDUP, 18.27%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 28000  | 28000  | 27779  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179880.SRDUP, 20.16%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 20000  | 20000  | 19816  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5179882.SRDUP, 19.59%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 6700  | 6700  | 6638  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180255.SRDUP, 22.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 3400  | 3400  | 3352  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **174** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 3.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180270.SRDUP, 18.52%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | $5700  | $5700  | $5648  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180389.SRDUP, 18.75%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 2100  | 2100  | 2083  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180590.SRDUP, 16.32%, 4/3/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 11874  | 11915  | 11798  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180652.SRDUP, 18.20%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 1200  | 1200  | 1191  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180720.SRDUP, 23.06%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 10900  | 10900  | 10812  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180908.SRDUP, 21.03%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 5600  | 5600  | 5545  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5180945.SRDUP, 19.93%, 4/3/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2025 | 45500  | 45500  | 45138  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181201.SRDUP, 15.77%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3800  | 3813  | 3776  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181213.SRDUP, 22.32%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 49500  | 49500  | 49264  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181218.SRDUP, 10.67%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3000  | 3000  | 2989  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181238.SRDUP, 15.85%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3900  | 3900  | 3883  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181286.SRDUP, 22.62%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 3400  | 3400  | 3368  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181325.SRDUP, 14.19%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 14600  | 14600  | 14543  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181351.SRDUP, 19.97%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 2964  | 2964  | 2961  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181408.SRDUP, 16.97%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 5400  | 5400  | 5376  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181438.SRDUP, 13.07%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 7000  | 7000  | 6970  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181448.SRDUP, 12.58%, 4/4/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 16000  | 16000  | 15939  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5181470.SRDUP, 11.49%, 4/4/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2025 | 15800  | 15800  | 15773  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186062.SRDUP, 16.80%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1500  | 1500  | 1491  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186108.SRDUP, 17.40%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2300  | 2300  | 2282  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186197.SRDUP, 15.02%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3109  | 3120  | 3092  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186235.SRDUP, 12.33%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10000  | 10000  | 9966  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186529.SRDUP, 13.76%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 6800  | 6800  | 6776  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186698.SRDUP, 15.37%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2100  | 2100  | 2088  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186856.SRDUP, 15.30%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 6963  | 6963  | 6935  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186859.SRDUP, 14.15%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1086  | 1086  | 1080  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5186908.SRDUP, 23.19%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 2500  | 2500  | 2470  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5187375.SRDUP, 22.44%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3500  | 3500  | 3470  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5187436.SRDUP, 14.00%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3449  | 3449  | 3431  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5187843.SRDUP, 19.47%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 10000  | 10000  | 9942  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5187913.SRDUP, 18.19%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 15500  | 15500  | 15394  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5188124.SRDUP, 22.98%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11500  | 11540  | 11401  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5188144.SRDUP, 14.96%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3300  | 3300  | 3281  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5188524.SRDUP, 16.54%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 5586  | 5605  | 5563  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5188643.SRDUP, 22.83%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 45000  | 45000  | 44615  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5189294.SRDUP, 21.27%, 4/7/2028 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 3000  | 3000  | 2976  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5190129.SRDUP, 18.63%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1900  | 1900  | 1887  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5192052.SRDUP, 16.71%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 11258  | 11258  | 11212  |
| &nbsp;&nbsp;&nbsp;&nbsp; L5193012.SRDUP, 19.89%, 4/7/2030 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2025 | 1700  | 1700  | 1693  |
|  **Total Consumer Loans (Cost $61,484,973)** |  |  |  | **61484973**  | **55837884**  |
|  **Small Business Loans - 1.2%** | **Small Business Loans - 1.2%** | **Small Business Loans - 1.2%** | **Small Business Loans - 1.2%** | **Small Business Loans - 1.2%** | **Small Business Loans - 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7456634.SRDSQ, 4.65%, 8/1/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/5/2024 | 8284  | 7743  | 7686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7460415.SRDSQ, 4.94%, 8/2/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/6/2024 | 1434  | 1335  | 1211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7463273.SRDSQ, 5.19%, 8/3/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 21979  | 20392  | 4422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7463664.SRDSQ, 5.44%, 8/4/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 5956  | 5507  | 766  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7467066.SRDSQ, 4.65%, 8/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2024 | 437  | 408  | 430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7472065.SRDSQ, 5.43%, 8/7/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 945  | 873  | 74  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7472099.SRDSQ, 6.00%, 8/7/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 598  | 548  | 317  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7472943.SRDSQ, 5.19%, 8/7/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 10790  | 10011  | 846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7473152.SRDSQ, 5.44%, 8/7/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 490  | 453  | 346  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **175** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7473198.SRDSQ, 5.44%, 8/7/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | $8904  | $8233  | $698  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7473584.SRDSQ, 6.17%, 8/7/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/9/2024 | 576  | 527  | 398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7478325.SRDSQ, 5.76%, 8/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3308  | 3045  | 2113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7478506.SRDSQ, 4.94%, 8/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 20331  | 18929  | 16831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7479459.SRDSQ, 4.94%, 8/8/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2024 | 3247  | 3023  | 1838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7483217.SRDSQ, 5.76%, 8/10/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 9498  | 8743  | 6197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7484468.SRDSQ, 6.42%, 8/11/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 696  | 635  | 91  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7485793.SRDSQ, 5.79%, 8/12/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 346  | 318  | 236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7486633.SRDSQ, 5.38%, 8/12/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 1181  | 1093  | 1085  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7487991.SRDSQ, 5.38%, 8/12/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2024 | 400  | 370  | 358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7488383.SRDSQ, 5.99%, 8/13/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 1411  | 1295  | 111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7489154.SRDSQ, 5.22%, 8/13/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 468  | 434  | 159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7491593.SRDSQ, 5.57%, 8/13/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/15/2024 | 2023  | 1867  | 976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7493515.SRDSQ, 4.76%, 8/14/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 98  | 91  | 75  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7493542.SRDSQ, 4.74%, 8/14/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 441  | 411  | 335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7494228.SRDSQ, 5.57%, 8/14/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/16/2024 | 1527  | 1414  | 1375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7500971.SRDSQ, 5.38%, 8/15/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 10778  | 9974  | 3694  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7502056.SRDSQ, 6.01%, 8/15/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 9180  | 8421  | 5562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7502888.SRDSQ, 5.19%, 8/15/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2024 | 3645  | 3381  | 2833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7507135.SRDSQ, 5.38%, 8/16/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 28797  | 26648  | 2258  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7508638.SRDSQ, 6.27%, 8/16/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2024 | 277  | 253  | 235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7509830.SRDSQ, 5.38%, 8/17/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 1157  | 1070  | 101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7511086.SRDSQ, 5.44%, 8/19/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 22  | 21  | 14  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7511286.SRDSQ, 5.38%, 8/19/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 1816  | 1681  | 142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7511508.SRDSQ, 5.37%, 8/19/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 1517  | 1404  | 124  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7513046.SRDSQ, 5.57%, 8/20/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 10469  | 9662  | 7333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7513883.SRDSQ, 5.18%, 8/20/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 2692  | 2498  | 1421  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7514012.SRDSQ, 5.19%, 8/20/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/22/2024 | 19718  | 18294  | 1546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7518060.SRDSQ, 5.57%, 8/21/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/23/2024 | 10077  | 9301  | 7715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7521819.SRDSQ, 4.65%, 8/22/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 8737  | 8167  | 885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7524042.SRDSQ, 4.65%, 8/22/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 7501  | 7012  | 7196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7524737.SRDSQ, 5.57%, 8/22/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2024 | 5294  | 4886  | 3713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7526434.SRDSQ, 6.01%, 8/23/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 47  | 43  | 43  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7526466.SRDSQ, 4.65%, 8/23/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2024 | 4874  | 4556  | 4575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7530439.SRDSQ, 4.65%, 8/25/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 8022  | 7498  | 969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7531094.SRDSQ, 5.57%, 8/25/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 655  | 604  | 593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7531582.SRDSQ, 5.38%, 8/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 1822  | 1686  | 1542  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7533182.SRDSQ, 5.57%, 8/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 4558  | 4207  | 3407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7534256.SRDSQ, 4.94%, 8/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 5713  | 5318  | 3975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7534850.SRDSQ, 5.38%, 8/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2024 | 17795  | 16467  | 12270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7548062.SRDSQ, 5.57%, 8/29/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2024 | 97924  | 90378  | 7677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7571546.SRDSQ, 4.65%, 9/7/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2024 | 82970  | 77556  | 58293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7576739.SRDSQ, 4.94%, 9/8/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2024 | 73454  | 68389  | 38428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7611892.SRDSQ, 4.65%, 9/20/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/22/2024 | 76187  | 71215  | 37254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7620058.SRDSQ, 5.19%, 9/22/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2024 | 6555  | 6082  | 6445  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7636782.SRDSQ, 6.47%, 9/28/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 1627  | 1483  | 996  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7636855.SRDSQ, 4.76%, 9/28/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 658  | 614  | 278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7636989.SRDSQ, 5.34%, 9/28/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 573  | 531  | 556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7637159.SRDSQ, 6.47%, 9/28/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 178  | 163  | 155  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7637720.SRDSQ, 5.19%, 9/28/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/1/2024 | 10486  | 9729  | 9560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7639816.SRDSQ, 4.65%, 9/29/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/2/2024 | 11706  | 10942  | 9152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7640550.SRDSQ, 4.65%, 9/29/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/2/2024 | 760  | 711  | 714  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **176** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7642186.SRDSQ, 4.78%, 9/29/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/2/2024 | $13431  | $12543  | $12602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7647637.SRDSQ, 5.54%, 10/1/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 628  | 580  | 585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7647681.SRDSQ, 5.39%, 10/1/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/3/2024 | 28  | 26  | 27  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7650081.SRDSQ, 5.56%, 10/2/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 151  | 140  | 142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7653023.SRDSQ, 6.01%, 10/2/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 3874  | 3554  | 1004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7653230.SRDSQ, 6.00%, 10/2/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/4/2024 | 1788  | 1641  | 140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7655211.SRDSQ, 6.26%, 10/3/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/5/2024 | 8310  | 7597  | 1240  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7656952.SRDSQ, 6.15%, 10/3/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/5/2024 | 695  | 636  | 351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7660409.SRDSQ, 5.42%, 10/4/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 606  | 561  | 48  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7660438.SRDSQ, 5.35%, 10/4/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 1376  | 1274  | 1279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7660562.SRDSQ, 5.91%, 10/4/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 559  | 514  | 442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7663411.SRDSQ, 4.78%, 10/4/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 3561  | 3322  | 3332  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7663618.SRDSQ, 6.41%, 10/4/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 4821  | 4398  | 378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7663746.SRDSQ, 6.00%, 10/4/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/8/2024 | 1984  | 1820  | 1347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7664250.SRDSQ, 4.78%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 7495  | 6994  | 6211  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7664729.SRDSQ, 6.29%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 5072  | 4635  | 4010  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7665948.SRDSQ, 5.35%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 8738  | 8089  | 3938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7666422.SRDSQ, 4.78%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 211  | 197  | 208  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7667423.SRDSQ, 6.26%, 10/5/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 7800  | 7131  | 612  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7667717.SRDSQ, 5.10%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 1300  | 1208  | 1243  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7667798.SRDSQ, 5.19%, 10/5/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/9/2024 | 2361  | 2191  | 2259  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7670024.SRDSQ, 6.48%, 10/8/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 4872  | 4441  | 382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7670512.SRDSQ, 5.38%, 10/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 1552  | 1436  | 983  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7672625.SRDSQ, 5.19%, 10/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 1895  | 1758  | 1824  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7672993.SRDSQ, 5.35%, 10/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 3761  | 3481  | 2657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7673546.SRDSQ, 4.94%, 10/8/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/10/2024 | 2231  | 2077  | 1357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7673635.SRDSQ, 5.10%, 10/9/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/11/2024 | 224  | 208  | 221  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7677408.SRDSQ, 6.26%, 10/10/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 5634  | 5150  | 3353  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7680211.SRDSQ, 5.45%, 10/10/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/12/2024 | 190  | 176  | 15  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7682319.SRDSQ, 6.16%, 10/11/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 2097  | 1919  | 1580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7682896.SRDSQ, 5.38%, 10/11/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 204  | 189  | 197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7683092.SRDSQ, 5.57%, 10/11/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/15/2024 | 1293  | 1193  | 1207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7690040.SRDSQ, 5.91%, 10/13/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 9492  | 8719  | 8484  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7692209.SRDSQ, 5.10%, 10/15/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/17/2024 | 4383  | 4071  | 3777  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7694704.SRDSQ, 4.73%, 10/16/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 1015  | 947  | 553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7694917.SRDSQ, 4.75%, 10/16/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 558  | 521  | 44  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7696570.SRDSQ, 5.54%, 10/16/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/18/2024 | 396  | 370  | 385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7702101.SRDSQ, 6.48%, 10/18/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 16540  | 15076  | 1297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7703142.SRDSQ, 5.54%, 10/18/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/22/2024 | 18053  | 16669  | 15499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7705381.SRDSQ, 6.29%, 10/19/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2024 | 227  | 207  | 198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7707220.SRDSQ, 5.43%, 10/21/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 466  | 431  | 272  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7707340.SRDSQ, 5.72%, 10/21/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 15409  | 14190  | 11016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7708982.SRDSQ, 5.54%, 10/22/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/24/2024 | 685  | 634  | 545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7710771.SRDSQ, 5.91%, 10/23/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 3478  | 3195  | 3163  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7712337.SRDSQ, 4.75%, 10/23/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/25/2024 | 2420  | 2259  | 1386  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7716238.SRDSQ, 6.14%, 10/24/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/26/2024 | 737  | 674  | 483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7721401.SRDSQ, 5.44%, 10/25/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 1472  | 1361  | 603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7721857.SRDSQ, 4.94%, 10/25/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 6269  | 5836  | 6070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7723298.SRDSQ, 6.48%, 10/25/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 2861  | 2608  | 1584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7723624.SRDSQ, 5.38%, 10/25/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 886  | 820  | 810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7723753.SRDSQ, 4.94%, 10/25/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/29/2024 | 1466  | 1365  | 1329  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7724845.SRDSQ, 4.78%, 10/26/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 1992  | 1859  | 1631  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **177** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 7726598.SRDSQ, 4.78%, 10/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | $9692  | $9044  | $7686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7727356.SRDSQ, 5.35%, 10/26/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 3489  | 3230  | 1189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7728129.SRDSQ, 6.16%, 10/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 931  | 852  | 660  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7730045.SRDSQ, 6.16%, 10/26/2025 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 1591  | 1457  | 1102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7730116.SRDSQ, 5.91%, 10/26/2025 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/30/2024 | 1773  | 1629  | 436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8134962.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/3/2024 | 11860  | 11067  | 11487  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8136499.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/3/2024 | 7488  | 6987  | 6358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8136871.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/3/2024 | 2544  | 2374  | 2461  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8137702.SRDSQ, 5.66%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/3/2024 | 1340  | 1235  | 1319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8139458.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/4/2024 | 457  | 427  | 451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8140218.SRDSQ, 6.16%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/4/2024 | 558  | 510  | 485  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8142512.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 2661  | 2483  | 2545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8142747.SRDSQ, 6.15%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 1353  | 1238  | 1233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8142888.SRDSQ, 4.78%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 2482  | 2316  | 2412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8143109.SRDSQ, 5.11%, 2/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 14229  | 13226  | 12898  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8143796.SRDSQ, 4.78%, 3/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 1048  | 978  | 1019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8143896.SRDSQ, 6.43%, 3/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 508  | 463  | 492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8144050.SRDSQ, 4.78%, 3/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 3222  | 3006  | 3044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8144630.SRDSQ, 4.79%, 3/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 1289  | 1202  | 1256  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8146810.SRDSQ, 6.41%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 357  | 325  | 347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8146954.SRDSQ, 5.11%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 5433  | 5046  | 4909  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8147340.SRDSQ, 6.40%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 72  | 66  | 71  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8147405.SRDSQ, 5.66%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 10390  | 9577  | 10035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8148391.SRDSQ, 6.42%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 4986  | 4548  | 2706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8148622.SRDSQ, 4.79%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 1753  | 1635  | 1497  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8148736.SRDSQ, 4.78%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 7659  | 7147  | 7412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8149392.SRDSQ, 4.97%, 3/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/5/2024 | 432  | 402  | 408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8149441.SRDSQ, 6.54%, 3/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 1501  | 1367  | 561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8150282.SRDSQ, 4.78%, 3/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 10594  | 9885  | 10134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8151450.SRDSQ, 6.15%, 3/4/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 10593  | 9699  | 2161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8151850.SRDSQ, 5.40%, 3/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 1758  | 1626  | 1692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8152020.SRDSQ, 4.78%, 3/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/6/2024 | 8035  | 7497  | 7690  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8156496.SRDSQ, 4.78%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 5985  | 5584  | 5822  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8157043.SRDSQ, 5.11%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 12507  | 11616  | 9591  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8157666.SRDSQ, 6.67%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 848  | 771  | 781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8157747.SRDSQ, 5.11%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 6004  | 5577  | 5861  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8158399.SRDSQ, 6.55%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 1016  | 926  | 984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8158516.SRDSQ, 4.78%, 3/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/9/2024 | 18741  | 17487  | 18138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8159061.SRDSQ, 4.78%, 3/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 2434  | 2271  | 2377  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8159391.SRDSQ, 4.78%, 3/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 2491  | 2325  | 2416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8160640.SRDSQ, 4.78%, 3/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 2364  | 2205  | 2295  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8160909.SRDSQ, 6.67%, 3/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/10/2024 | 15139  | 13762  | 13837  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8162525.SRDSQ, 5.66%, 3/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 28936  | 26672  | 19390  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8163496.SRDSQ, 5.66%, 3/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1462  | 1347  | 1331  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8163717.SRDSQ, 4.78%, 3/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1583  | 1477  | 1544  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8163831.SRDSQ, 6.42%, 3/8/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 2812  | 2565  | 220  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8164343.SRDSQ, 5.11%, 3/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1559  | 1448  | 1488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8164948.SRDSQ, 4.77%, 3/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1235  | 1153  | 1195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8165158.SRDSQ, 6.15%, 3/9/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 5653  | 5176  | 443  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8166543.SRDSQ, 5.41%, 3/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 1519  | 1405  | 1496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8166892.SRDSQ, 4.78%, 3/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/11/2024 | 16828  | 15703  | 16205  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8167767.SRDSQ, 5.11%, 3/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | 7839  | 7281  | 7484  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **178** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8170910.SRDSQ, 6.15%, 3/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2024 | $6519  | $5968  | $5942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8171600.SRDSQ, 4.78%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 4532  | 4229  | 4396  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8172102.SRDSQ, 5.41%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 3695  | 3418  | 2810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8172545.SRDSQ, 4.78%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 3201  | 2986  | 3135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8173980.SRDSQ, 4.76%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 432  | 403  | 422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8173998.SRDSQ, 6.55%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 2400  | 2185  | 986  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8174040.SRDSQ, 6.15%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 1783  | 1633  | 1673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8174178.SRDSQ, 5.41%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 6655  | 6156  | 5785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8174443.SRDSQ, 4.79%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 1932  | 1803  | 1823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8174650.SRDSQ, 5.12%, 3/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/13/2024 | 6339  | 5888  | 6134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8176780.SRDSQ, 5.11%, 3/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 4646  | 4315  | 4435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8177298.SRDSQ, 4.78%, 3/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 3861  | 3602  | 3754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8179106.SRDSQ, 5.66%, 3/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 18281  | 16850  | 15405  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8179926.SRDSQ, 5.12%, 3/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/16/2024 | 1341  | 1246  | 1324  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8181105.SRDSQ, 6.41%, 3/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/17/2024 | 1477  | 1347  | 1245  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8184448.SRDSQ, 5.41%, 3/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 2579  | 2386  | 2499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8184816.SRDSQ, 6.16%, 3/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 574  | 526  | 546  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185106.SRDSQ, 4.78%, 3/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1401  | 1307  | 1371  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185279.SRDSQ, 4.96%, 3/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 437  | 406  | 412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185362.SRDSQ, 4.79%, 3/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 2259  | 2107  | 2199  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185530.SRDSQ, 4.78%, 3/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1638  | 1529  | 1575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185634.SRDSQ, 4.78%, 3/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1773  | 1654  | 1705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8185773.SRDSQ, 4.78%, 3/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 5276  | 4923  | 5127  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8186401.SRDSQ, 4.78%, 3/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 4990  | 4656  | 4790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8186996.SRDSQ, 6.33%, 3/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1078  | 984  | 1046  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8187433.SRDSQ, 5.11%, 3/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1138  | 1057  | 1121  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8189320.SRDSQ, 5.66%, 3/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 1419  | 1308  | 1348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8189795.SRDSQ, 6.42%, 3/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2024 | 2503  | 2283  | 2399  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8191427.SRDSQ, 5.67%, 3/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 2183  | 2012  | 1882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8192083.SRDSQ, 4.78%, 3/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/19/2024 | 6093  | 5686  | 5194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8193719.SRDSQ, 4.78%, 3/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 7559  | 7053  | 7203  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8194646.SRDSQ, 4.96%, 3/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 1507  | 1403  | 1071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8194812.SRDSQ, 5.92%, 3/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 53  | 49  | 53  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8195013.SRDSQ, 6.42%, 3/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 12197  | 11125  | 11004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8195780.SRDSQ, 5.62%, 3/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/20/2024 | 641  | 591  | 511  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8199313.SRDSQ, 6.32%, 3/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 2114  | 1931  | 804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8199456.SRDSQ, 5.66%, 3/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 11118  | 10248  | 7750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8200135.SRDSQ, 4.78%, 3/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 3121  | 2912  | 3032  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8200390.SRDSQ, 5.11%, 3/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 10106  | 9386  | 9193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8201602.SRDSQ, 5.11%, 3/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/23/2024 | 38018  | 35310  | 29996  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8205306.SRDSQ, 4.78%, 3/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 3304  | 3083  | 3179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8205503.SRDSQ, 5.91%, 3/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 438  | 402  | 424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8205869.SRDSQ, 6.15%, 3/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/24/2024 | 2230  | 2041  | 1999  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8207259.SRDSQ, 6.15%, 3/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 10835  | 9920  | 10278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8209906.SRDSQ, 4.78%, 3/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 3027  | 2825  | 2940  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8211193.SRDSQ, 4.78%, 3/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 2654  | 2477  | 2549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8211354.SRDSQ, 4.77%, 3/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 1606  | 1499  | 1505  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8211473.SRDSQ, 5.91%, 3/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/25/2024 | 5815  | 5341  | 4801  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8212266.SRDSQ, 4.78%, 3/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 1110  | 1036  | 1083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8213982.SRDSQ, 6.13%, 3/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 1238  | 1134  | 224  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8214664.SRDSQ, 6.43%, 3/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 1678  | 1531  | 1517  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8214753.SRDSQ, 4.78%, 3/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/26/2024 | 1559  | 1455  | 1525  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **179** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8215053.SRDSQ, 5.41%, 3/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | $25757  | $23824  | $17942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8216792.SRDSQ, 6.15%, 3/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 1974  | 1807  | 1588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8216854.SRDSQ, 5.11%, 3/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/27/2024 | 5840  | 5424  | 4437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8220603.SRDSQ, 4.98%, 3/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 183  | 170  | 173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8221245.SRDSQ, 5.41%, 3/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 772  | 714  | 750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8221427.SRDSQ, 5.63%, 3/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 580  | 535  | 560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8221846.SRDSQ, 5.66%, 3/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/30/2024 | 37927  | 34959  | 32948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8282612.SRDSQ, 5.91%, 4/15/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/17/2024 | 72949  | 67007  | 65940  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8284944.SRDSQ, 4.78%, 4/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 59881  | 55875  | 57668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8286981.SRDSQ, 6.55%, 4/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 114169  | 103959  | 93796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8287577.SRDSQ, 4.78%, 4/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2024 | 53228  | 49667  | 51391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8293922.SRDSQ, 5.66%, 4/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 84184  | 77596  | 81215  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8294716.SRDSQ, 5.91%, 4/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/21/2024 | 10671  | 9802  | 10499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8295006.SRDSQ, 5.11%, 4/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 91080  | 84592  | 87270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8297305.SRDSQ, 6.15%, 4/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 46459  | 42535  | 44908  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8297616.SRDSQ, 5.91%, 4/18/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 123746  | 113667  | 9702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8297808.SRDSQ, 4.78%, 4/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/22/2024 | 57236  | 53407  | 55379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8303857.SRDSQ, 5.11%, 4/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 91473  | 84957  | 83725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8304164.SRDSQ, 5.66%, 4/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/23/2024 | 47672  | 43941  | 46234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8306351.SRDSQ, 5.66%, 4/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 43401  | 40005  | 42134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8306563.SRDSQ, 5.66%, 4/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 11241  | 10362  | 11095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8307040.SRDSQ, 6.15%, 4/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/24/2024 | 37726  | 34539  | 36819  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8309510.SRDSQ, 4.78%, 4/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 47558  | 44376  | 46175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8310081.SRDSQ, 5.11%, 4/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/25/2024 | 84420  | 78406  | 82434  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8316549.SRDSQ, 5.41%, 4/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 53422  | 49413  | 51481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8316795.SRDSQ, 5.41%, 4/24/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/28/2024 | 191652  | 177270  | 131991  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8320368.SRDSQ, 5.41%, 4/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/29/2024 | 47010  | 43500  | 45625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8326198.SRDSQ, 4.78%, 4/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/30/2024 | 143816  | 134194  | 134716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8330155.SRDSQ, 5.41%, 4/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/31/2024 | 68933  | 63760  | 65700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331331.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 4686  | 4353  | 4571  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331536.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 4983  | 4650  | 4655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331658.SRDSQ, 6.42%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 1438  | 1311  | 1381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331713.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 3784  | 3531  | 3607  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331814.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 4435  | 4138  | 4301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8331941.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 5266  | 4914  | 5094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8332050.SRDSQ, 5.63%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 119  | 109  | 115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8332062.SRDSQ, 6.69%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 342  | 311  | 330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8332068.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 8176  | 7629  | 7011  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8332190.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 25290  | 23598  | 24756  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8332838.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 15670  | 14622  | 14958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8333024.SRDSQ, 5.66%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 38265  | 35271  | 37076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8333588.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 7564  | 7058  | 7367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8333756.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 4927  | 4597  | 4785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8333804.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/1/2024 | 17989  | 16786  | 17401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8336699.SRDSQ, 6.34%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 1280  | 1169  | 1154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8336738.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 2331  | 2165  | 2189  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8336777.SRDSQ, 6.15%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 8866  | 8117  | 8313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8337026.SRDSQ, 5.11%, 4/30/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 5556  | 5160  | 5099  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8337125.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 16227  | 15141  | 15581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8337652.SRDSQ, 5.93%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 817  | 751  | 787  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8337688.SRDSQ, 6.30%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 274  | 250  | 262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8337703.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 10778  | 10010  | 10549  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **180** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338216.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | $7060  | $6558  | $6646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338336.SRDSQ, 4.95%, 4/30/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 855  | 795  | 697  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338345.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 4190  | 3910  | 4024  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338441.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 3075  | 2856  | 2958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338632.SRDSQ, 5.42%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 1380  | 1276  | 1226  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338649.SRDSQ, 5.41%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 16799  | 15539  | 15132  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338875.SRDSQ, 6.17%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 741  | 679  | 686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338886.SRDSQ, 6.32%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 3182  | 2906  | 2182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338896.SRDSQ, 4.78%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 5781  | 5394  | 5413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8338989.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 22116  | 20541  | 20772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8339333.SRDSQ, 5.66%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 4211  | 3882  | 3044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8339384.SRDSQ, 5.41%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 42174  | 39009  | 40851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340003.SRDSQ, 5.66%, 4/30/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 6040  | 5567  | 4430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340097.SRDSQ, 5.11%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 3180  | 2954  | 3072  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340131.SRDSQ, 5.41%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 4392  | 4063  | 3952  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340377.SRDSQ, 5.12%, 4/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/4/2024 | 5784  | 5372  | 5557  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340653.SRDSQ, 4.78%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 2401  | 2240  | 2274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340731.SRDSQ, 5.15%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 408  | 378  | 372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340882.SRDSQ, 6.42%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 1383  | 1262  | 1338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8340968.SRDSQ, 6.68%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 7482  | 6800  | 3920  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341119.SRDSQ, 6.16%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 691  | 633  | 650  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341144.SRDSQ, 5.41%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 2030  | 1878  | 1879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341203.SRDSQ, 4.78%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 4743  | 4426  | 4521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341312.SRDSQ, 5.66%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 9382  | 8648  | 9119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341644.SRDSQ, 6.42%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 214  | 195  | 210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341775.SRDSQ, 4.78%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 5155  | 4810  | 4925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8341858.SRDSQ, 5.11%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 59660  | 55409  | 48141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342456.SRDSQ, 4.78%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 11081  | 10340  | 10796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342662.SRDSQ, 4.99%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 239  | 222  | 214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342677.SRDSQ, 5.66%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 6940  | 6397  | 6598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342786.SRDSQ, 6.42%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 1699  | 1550  | 1668  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342936.SRDSQ, 4.77%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 3444  | 3214  | 2970  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8342960.SRDSQ, 4.78%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 8719  | 8136  | 8416  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8343422.SRDSQ, 5.66%, 5/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/5/2024 | 7342  | 6768  | 6459  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8343838.SRDSQ, 6.45%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 739  | 674  | 675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8343939.SRDSQ, 4.78%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3648  | 3404  | 3482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344093.SRDSQ, 5.66%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 315  | 290  | 279  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344100.SRDSQ, 5.11%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 7096  | 6591  | 6904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344260.SRDSQ, 4.78%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 1371  | 1279  | 1333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344280.SRDSQ, 5.11%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 5775  | 5364  | 5427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344337.SRDSQ, 5.41%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 11595  | 10725  | 11140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344545.SRDSQ, 6.54%, 5/2/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2325  | 2117  | 182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344562.SRDSQ, 4.78%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 10325  | 9634  | 9857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344653.SRDSQ, 5.67%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 5804  | 5349  | 3968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344696.SRDSQ, 4.78%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 11059  | 10319  | 10475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344841.SRDSQ, 4.78%, 5/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 9524  | 8887  | 9213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8344971.SRDSQ, 4.96%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 784  | 730  | 761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345008.SRDSQ, 5.11%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 6318  | 5868  | 6076  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345079.SRDSQ, 4.78%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 7928  | 7397  | 7549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345154.SRDSQ, 5.14%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 817  | 759  | 765  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345163.SRDSQ, 5.11%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 4799  | 4457  | 4649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345242.SRDSQ, 5.41%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 8507  | 7869  | 8055  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **181** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345318.SRDSQ, 6.66%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | $273  | $248  | $261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345384.SRDSQ, 4.78%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 5369  | 5009  | 5191  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345457.SRDSQ, 4.82%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 183  | 170  | 175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345459.SRDSQ, 6.43%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3069  | 2800  | 1928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345479.SRDSQ, 5.66%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 20444  | 18844  | 5845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345600.SRDSQ, 6.15%, 5/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 13342  | 12215  | 12679  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345931.SRDSQ, 5.41%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3971  | 3673  | 3810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8345984.SRDSQ, 5.11%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 15205  | 14122  | 11660  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8346446.SRDSQ, 5.41%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 24396  | 22587  | 21790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347023.SRDSQ, 4.78%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3934  | 3671  | 3796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347099.SRDSQ, 5.41%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 1124  | 1039  | 1069  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347149.SRDSQ, 5.41%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2814  | 2603  | 2257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347199.SRDSQ, 5.93%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 772  | 709  | 724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347221.SRDSQ, 5.66%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 13724  | 12654  | 12936  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347428.SRDSQ, 4.78%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 12216  | 11399  | 11773  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347594.SRDSQ, 5.61%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 667  | 615  | 96  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347810.SRDSQ, 4.76%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 709  | 662  | 691  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8347834.SRDSQ, 5.66%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 16179  | 14913  | 15337  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348034.SRDSQ, 5.66%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 9975  | 9194  | 7018  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348066.SRDSQ, 4.78%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 3585  | 3345  | 3468  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348140.SRDSQ, 5.11%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 2762  | 2565  | 2589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348291.SRDSQ, 6.54%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 1571  | 1431  | 1451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348393.SRDSQ, 4.78%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 5097  | 4756  | 4893  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8348472.SRDSQ, 4.78%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 18364  | 17136  | 17204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349318.SRDSQ, 6.32%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 593  | 542  | 552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349346.SRDSQ, 6.42%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 7909  | 7215  | 4929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349432.SRDSQ, 6.42%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 565  | 516  | 503  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349446.SRDSQ, 6.55%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 5910  | 5382  | 2865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349521.SRDSQ, 4.95%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 98  | 92  | 96  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349560.SRDSQ, 5.41%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 4966  | 4593  | 4813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349716.SRDSQ, 5.66%, 5/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/6/2024 | 10342  | 9533  | 7597  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8349839.SRDSQ, 6.42%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 34  | 31  | 34  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8350263.SRDSQ, 4.78%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 13663  | 12749  | 13224  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8350558.SRDSQ, 4.78%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 11507  | 10738  | 11079  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8350944.SRDSQ, 5.11%, 5/5/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 25648  | 23821  | 9490  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351217.SRDSQ, 6.15%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 7522  | 6887  | 7375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351512.SRDSQ, 5.11%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 2487  | 2310  | 2426  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351578.SRDSQ, 6.33%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 16566  | 15130  | 15402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351923.SRDSQ, 4.78%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 2495  | 2328  | 2394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8351967.SRDSQ, 4.78%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 15891  | 14828  | 13757  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352208.SRDSQ, 6.42%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 2353  | 2146  | 1918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352220.SRDSQ, 5.64%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 9473  | 8734  | 8909  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352382.SRDSQ, 5.11%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 13563  | 12597  | 13152  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352653.SRDSQ, 4.78%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 4223  | 3940  | 4058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352722.SRDSQ, 5.41%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 5182  | 4793  | 5066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8352862.SRDSQ, 6.68%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 3372  | 3065  | 2440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353006.SRDSQ, 5.41%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 1759  | 1627  | 1726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353062.SRDSQ, 6.42%, 5/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/7/2024 | 4023  | 3672  | 3810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353365.SRDSQ, 6.16%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1649  | 1509  | 1548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353412.SRDSQ, 6.42%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4829  | 4404  | 4429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353539.SRDSQ, 5.11%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4677  | 4343  | 4540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353739.SRDSQ, 4.77%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1307  | 1219  | 1256  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **182** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353772.SRDSQ, 6.54%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | $2877  | $2620  | $2129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8353817.SRDSQ, 5.12%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4026  | 3739  | 3778  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354133.SRDSQ, 5.91%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 4204  | 3862  | 3128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354328.SRDSQ, 5.11%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 10767  | 10000  | 10197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354584.SRDSQ, 5.11%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 7536  | 6999  | 7188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354852.SRDSQ, 5.13%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1391  | 1291  | 1268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354907.SRDSQ, 6.15%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 7004  | 6412  | 6720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8354991.SRDSQ, 6.14%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 1302  | 1193  | 1096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8355393.SRDSQ, 5.66%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 2512  | 2315  | 2401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8355456.SRDSQ, 4.78%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 35692  | 33304  | 34602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8356051.SRDSQ, 4.78%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 3774  | 3522  | 3643  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8356117.SRDSQ, 5.91%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 3920  | 3601  | 3661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8356281.SRDSQ, 6.15%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 3809  | 3488  | 3201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8356315.SRDSQ, 6.42%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 9623  | 8778  | 8791  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8356415.SRDSQ, 6.41%, 5/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/8/2024 | 717  | 654  | 701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8360690.SRDSQ, 4.78%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 2298  | 2145  | 2218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8360895.SRDSQ, 6.55%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 11290  | 10280  | 5975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8360962.SRDSQ, 6.15%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 8950  | 8194  | 8506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8361048.SRDSQ, 6.42%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 27932  | 25478  | 26003  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8361893.SRDSQ, 5.91%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 2285  | 2099  | 2168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8361963.SRDSQ, 6.42%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 3136  | 2860  | 3050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362108.SRDSQ, 6.15%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 3477  | 3183  | 3305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362250.SRDSQ, 4.78%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 4072  | 3800  | 3879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362322.SRDSQ, 4.78%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 5042  | 4705  | 4783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362786.SRDSQ, 5.12%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 2154  | 2001  | 1700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362798.SRDSQ, 4.93%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 377  | 351  | 327  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362810.SRDSQ, 4.78%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 6919  | 6456  | 6686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8362984.SRDSQ, 6.15%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 15821  | 14485  | 15149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363413.SRDSQ, 6.55%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 2594  | 2362  | 2226  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363447.SRDSQ, 6.55%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 1759  | 1602  | 1720  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363776.SRDSQ, 6.32%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 4240  | 3872  | 3394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363890.SRDSQ, 6.15%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 2076  | 1901  | 1411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363922.SRDSQ, 5.12%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 1565  | 1453  | 1512  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363966.SRDSQ, 4.78%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 8025  | 7488  | 7866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364146.SRDSQ, 4.77%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 1236  | 1153  | 1188  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364180.SRDSQ, 6.40%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 365  | 333  | 355  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364198.SRDSQ, 6.42%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 814  | 742  | 790  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364226.SRDSQ, 6.54%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 6108  | 5562  | 4609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364301.SRDSQ, 5.41%, 5/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/12/2024 | 16455  | 15221  | 15895  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364779.SRDSQ, 6.42%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 4415  | 4027  | 4283  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8364921.SRDSQ, 5.10%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 2370  | 2202  | 1891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365024.SRDSQ, 6.33%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 11317  | 10336  | 9725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365279.SRDSQ, 5.91%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 3016  | 2771  | 2883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365406.SRDSQ, 6.33%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1109  | 1013  | 750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365689.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 4559  | 4254  | 4389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365845.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 6233  | 5816  | 6005  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8365985.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 11558  | 10785  | 11293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8366314.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 15902  | 14838  | 15442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8366609.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1279  | 1193  | 1214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8366621.SRDSQ, 6.42%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1152  | 1051  | 1111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8366662.SRDSQ, 5.41%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 19264  | 17818  | 18638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8366917.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 4249  | 3965  | 4098  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **183** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367004.SRDSQ, 6.16%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | $2015  | $1844  | $629  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367042.SRDSQ, 5.40%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1441  | 1333  | 1363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367167.SRDSQ, 5.41%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 21659  | 20034  | 20494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367550.SRDSQ, 5.91%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 3675  | 3375  | 3558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367687.SRDSQ, 5.66%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 3432  | 3163  | 3327  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367772.SRDSQ, 5.68%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 677  | 624  | 656  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8367788.SRDSQ, 5.11%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 18101  | 16811  | 17186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368023.SRDSQ, 4.78%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 6250  | 5832  | 5995  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368126.SRDSQ, 6.33%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1159  | 1059  | 1045  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368134.SRDSQ, 5.11%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 4294  | 3988  | 4102  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368236.SRDSQ, 6.15%, 5/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/13/2024 | 1422  | 1302  | 466  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368309.SRDSQ, 5.41%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 17991  | 16641  | 17370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368528.SRDSQ, 6.15%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 866  | 793  | 822  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368548.SRDSQ, 4.78%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4111  | 3836  | 3965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368623.SRDSQ, 4.78%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 11927  | 11129  | 11494  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368753.SRDSQ, 6.68%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1959  | 1781  | 1430  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368765.SRDSQ, 5.41%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1473  | 1363  | 1402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368782.SRDSQ, 5.12%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1696  | 1575  | 1596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368794.SRDSQ, 5.66%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2556  | 2356  | 839  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368809.SRDSQ, 5.41%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8820  | 8158  | 8161  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368901.SRDSQ, 4.78%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4926  | 4597  | 4746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8368961.SRDSQ, 4.78%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8638  | 8061  | 8111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369041.SRDSQ, 5.41%, 5/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3337  | 3086  | 3217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369178.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4692  | 4378  | 4077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369209.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3284  | 3064  | 3149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369241.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 7403  | 6907  | 7111  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369352.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4921  | 4592  | 4779  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369411.SRDSQ, 6.15%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4429  | 4056  | 4156  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369459.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2039  | 1903  | 1968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369484.SRDSQ, 4.78%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4442  | 4145  | 4238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369537.SRDSQ, 4.96%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2818  | 2623  | 1736  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369550.SRDSQ, 6.54%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2140  | 1949  | 2043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369596.SRDSQ, 6.14%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 833  | 763  | 804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369610.SRDSQ, 6.42%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 9266  | 8452  | 8219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369703.SRDSQ, 5.91%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 9748  | 8954  | 9288  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369832.SRDSQ, 5.11%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 6529  | 6064  | 6238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8369911.SRDSQ, 6.33%, 5/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2468  | 2254  | 2406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370022.SRDSQ, 5.11%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8162  | 7581  | 7802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370288.SRDSQ, 4.93%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 67  | 62  | 65  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370420.SRDSQ, 4.96%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5460  | 5083  | 5182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370542.SRDSQ, 4.78%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4076  | 3803  | 3951  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370602.SRDSQ, 4.79%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1477  | 1378  | 1408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370684.SRDSQ, 6.16%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 611  | 560  | 566  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370693.SRDSQ, 5.41%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3945  | 3649  | 3752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370743.SRDSQ, 5.41%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 16905  | 15636  | 15642  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8370832.SRDSQ, 5.11%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 22889  | 21259  | 22226  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371007.SRDSQ, 6.42%, 5/11/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 9232  | 8421  | 2120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371047.SRDSQ, 5.91%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 21984  | 20193  | 20997  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371266.SRDSQ, 5.41%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 4083  | 3776  | 3882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371299.SRDSQ, 6.42%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5506  | 5022  | 1233  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371320.SRDSQ, 5.41%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 22759  | 21051  | 21891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8371481.SRDSQ, 4.78%, 5/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 43278  | 40382  | 41549  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **184** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372058.SRDSQ, 5.68%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | $1945  | $1792  | $1388  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372063.SRDSQ, 4.78%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1960  | 1829  | 1854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372196.SRDSQ, 5.41%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3499  | 3236  | 3348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372394.SRDSQ, 6.42%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3889  | 3547  | 976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372482.SRDSQ, 4.96%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1051  | 978  | 410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372516.SRDSQ, 5.41%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 9316  | 8617  | 8602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372851.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2566  | 2383  | 2453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8372918.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 16609  | 15426  | 7781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373111.SRDSQ, 5.41%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 2642  | 2444  | 2493  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373150.SRDSQ, 4.78%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 8445  | 7880  | 8157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373293.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 11548  | 10725  | 11109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373478.SRDSQ, 6.42%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5833  | 5321  | 5532  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373579.SRDSQ, 6.15%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3196  | 2926  | 3101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373817.SRDSQ, 6.41%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 546  | 498  | 521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373827.SRDSQ, 6.43%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1680  | 1532  | 1357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373843.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1790  | 1662  | 1437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8373852.SRDSQ, 5.66%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 9389  | 8654  | 8950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8374040.SRDSQ, 6.15%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 7911  | 7243  | 7519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8374190.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 13201  | 12260  | 12475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8374326.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 1610  | 1495  | 1534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8374341.SRDSQ, 6.15%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 60446  | 55340  | 55788  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8374905.SRDSQ, 5.11%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 6743  | 6263  | 6538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8375063.SRDSQ, 5.41%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 3051  | 2822  | 2952  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8375167.SRDSQ, 6.42%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 7014  | 6398  | 4428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8375280.SRDSQ, 4.78%, 5/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2024 | 5020  | 4684  | 4833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8375337.SRDSQ, 5.41%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 31895  | 29502  | 12630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8375869.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 9306  | 8684  | 8852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376127.SRDSQ, 6.15%, 5/13/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1330  | 1218  | 300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376168.SRDSQ, 6.33%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 4617  | 4217  | 3249  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376313.SRDSQ, 5.11%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 11628  | 10800  | 9486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376533.SRDSQ, 6.42%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 2089  | 1906  | 2015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376589.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 3005  | 2804  | 2901  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376624.SRDSQ, 6.55%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 9968  | 9076  | 9398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376770.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 2954  | 2757  | 2844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376793.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 2602  | 2428  | 2442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376818.SRDSQ, 5.12%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 3895  | 3618  | 3738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376923.SRDSQ, 4.96%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 4250  | 3956  | 2617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8376969.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 11307  | 10551  | 10558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377039.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 3109  | 2902  | 3000  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377087.SRDSQ, 6.14%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1385  | 1268  | 1250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377102.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 5359  | 5001  | 5094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377156.SRDSQ, 6.14%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1476  | 1351  | 1427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377184.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 15187  | 14171  | 12617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377298.SRDSQ, 6.67%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1378  | 1253  | 1325  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377351.SRDSQ, 5.41%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 3702  | 3424  | 3307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377391.SRDSQ, 5.90%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 729  | 670  | 704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377415.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 5603  | 5228  | 2776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377466.SRDSQ, 6.15%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 2501  | 2290  | 919  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377482.SRDSQ, 5.41%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1958  | 1811  | 1895  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377505.SRDSQ, 5.12%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 5856  | 5438  | 5545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377570.SRDSQ, 5.66%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 6240  | 5752  | 5950  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377852.SRDSQ, 6.15%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 1225  | 1121  | 896  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **185** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377866.SRDSQ, 6.43%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | $732  | $667  | $719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8377892.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 13745  | 12826  | 13248  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8378012.SRDSQ, 4.78%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 29761  | 27771  | 28334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8378261.SRDSQ, 6.42%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 2011  | 1835  | 1953  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8378274.SRDSQ, 5.41%, 5/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2024 | 65487  | 60573  | 60797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8380704.SRDSQ, 4.78%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 7566  | 7060  | 7319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8380848.SRDSQ, 6.36%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 466  | 426  | 424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8380856.SRDSQ, 6.33%, 5/14/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 20880  | 19070  | 9071  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8381058.SRDSQ, 5.91%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 20518  | 18847  | 19435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8381971.SRDSQ, 5.11%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 16295  | 15134  | 15942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8382895.SRDSQ, 5.64%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 782  | 721  | 703  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8382912.SRDSQ, 6.54%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 1325  | 1206  | 1142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8382934.SRDSQ, 5.42%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 783  | 724  | 763  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8382952.SRDSQ, 4.79%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 1812  | 1691  | 1748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8382980.SRDSQ, 5.64%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 1221  | 1125  | 1182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383088.SRDSQ, 5.91%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 2157  | 1981  | 2058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383124.SRDSQ, 6.15%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 13575  | 12428  | 13219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383564.SRDSQ, 4.78%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 5363  | 5005  | 5170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383678.SRDSQ, 5.40%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 4004  | 3704  | 2944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383902.SRDSQ, 4.77%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 2052  | 1915  | 1975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383932.SRDSQ, 5.41%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 3961  | 3663  | 3677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8383952.SRDSQ, 4.96%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 50401  | 46913  | 31236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8384389.SRDSQ, 5.66%, 5/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/18/2024 | 3418  | 3151  | 3351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8384504.SRDSQ, 6.15%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 9489  | 8688  | 8759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8384766.SRDSQ, 6.15%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 12181  | 11152  | 11262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385031.SRDSQ, 5.41%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 7733  | 7153  | 7408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385258.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 1187  | 1107  | 1159  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385491.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 4365  | 4073  | 4199  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385598.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 12136  | 11325  | 11378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385767.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 4041  | 3771  | 3879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385893.SRDSQ, 6.14%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 611  | 560  | 581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8385925.SRDSQ, 6.42%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 6624  | 6043  | 6096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386082.SRDSQ, 5.41%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 17551  | 16234  | 16257  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386400.SRDSQ, 5.12%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 2547  | 2365  | 2470  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386480.SRDSQ, 6.33%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 687  | 627  | 593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386518.SRDSQ, 5.11%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 9370  | 8703  | 6963  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386649.SRDSQ, 4.95%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 8171  | 7606  | 959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8386731.SRDSQ, 4.77%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 1463  | 1365  | 1269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387254.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 2803  | 2616  | 2653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387297.SRDSQ, 5.66%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 1453  | 1339  | 1083  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387315.SRDSQ, 5.66%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 12480  | 11503  | 12084  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387530.SRDSQ, 6.42%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 3293  | 3004  | 3174  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387596.SRDSQ, 4.78%, 5/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/2024 | 14253  | 13303  | 13658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8387905.SRDSQ, 6.42%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9310  | 8492  | 8994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388110.SRDSQ, 5.11%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 22836  | 21209  | 20979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388309.SRDSQ, 4.78%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 16275  | 15186  | 15392  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388523.SRDSQ, 5.12%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7587  | 7046  | 6098  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388603.SRDSQ, 6.53%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 470  | 428  | 435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388613.SRDSQ, 4.78%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 3220  | 3005  | 3120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388671.SRDSQ, 5.11%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 313  | 291  | 308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388744.SRDSQ, 5.41%, 5/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 4114  | 3805  | 3699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388795.SRDSQ, 6.15%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 6506  | 5956  | 6285  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **186** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388940.SRDSQ, 6.55%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | $2213  | $2014  | $1984  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8388956.SRDSQ, 4.78%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 4840  | 4516  | 4583  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389003.SRDSQ, 6.33%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2478  | 2263  | 2298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389050.SRDSQ, 4.78%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 4053  | 3782  | 3934  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389107.SRDSQ, 6.56%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 379  | 345  | 364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389117.SRDSQ, 4.78%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 5189  | 4842  | 4975  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389169.SRDSQ, 5.11%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 3752  | 3485  | 3603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389220.SRDSQ, 4.78%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7873  | 7346  | 7616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389415.SRDSQ, 5.12%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2317  | 2151  | 2213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389436.SRDSQ, 6.54%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1831  | 1667  | 1785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389510.SRDSQ, 5.14%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 805  | 748  | 760  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8389527.SRDSQ, 6.42%, 5/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 20874  | 19040  | 18652  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8390554.SRDSQ, 6.33%, 5/18/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1310  | 1196  | 228  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8390578.SRDSQ, 6.42%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 7605  | 6937  | 7217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8390868.SRDSQ, 5.11%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 8039  | 7466  | 7769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391009.SRDSQ, 5.91%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2342  | 2151  | 2237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391106.SRDSQ, 6.43%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 886  | 808  | 823  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391137.SRDSQ, 4.78%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 9818  | 9161  | 9292  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391257.SRDSQ, 4.78%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 8908  | 8313  | 8579  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391450.SRDSQ, 6.43%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 1949  | 1777  | 1795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391489.SRDSQ, 5.63%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2396  | 2209  | 2289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391557.SRDSQ, 6.42%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2678  | 2443  | 2552  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391614.SRDSQ, 6.15%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2899  | 2655  | 2488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391677.SRDSQ, 6.42%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 16396  | 14955  | 10030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8391792.SRDSQ, 4.78%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 2993  | 2792  | 2884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8392069.SRDSQ, 5.66%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 383  | 353  | 357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8392724.SRDSQ, 4.78%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 3006  | 2805  | 2892  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8392767.SRDSQ, 5.11%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 3733  | 3467  | 3598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8392812.SRDSQ, 5.01%, 5/18/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 630  | 586  | 49  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8392817.SRDSQ, 5.41%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 41787  | 38651  | 16402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8393195.SRDSQ, 5.66%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 10574  | 9747  | 10090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8393396.SRDSQ, 5.91%, 5/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/20/2024 | 13531  | 12429  | 13105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8393564.SRDSQ, 6.33%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 24990  | 22824  | 23888  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8394607.SRDSQ, 4.78%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4936  | 4605  | 4697  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8394851.SRDSQ, 6.15%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 5917  | 5417  | 5661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8395036.SRDSQ, 5.12%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 6868  | 6379  | 6496  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8395129.SRDSQ, 6.15%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 1239  | 1135  | 1218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8395197.SRDSQ, 5.41%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 4312  | 3988  | 4207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8395822.SRDSQ, 6.15%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 11702  | 10713  | 11229  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8396072.SRDSQ, 4.78%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 8399  | 7837  | 8145  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8396232.SRDSQ, 5.64%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 590  | 544  | 558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8396252.SRDSQ, 4.78%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 62119  | 57963  | 54236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8396913.SRDSQ, 5.11%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 9040  | 8396  | 8555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8397077.SRDSQ, 4.79%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 742  | 699  | 729  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8397119.SRDSQ, 6.67%, 5/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/21/2024 | 2680  | 2447  | 2539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8397402.SRDSQ, 5.92%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5617  | 5159  | 5299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8397474.SRDSQ, 5.92%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3435  | 3155  | 3296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8397562.SRDSQ, 5.11%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 17371  | 16133  | 16843  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398516.SRDSQ, 4.79%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2278  | 2125  | 2136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398691.SRDSQ, 6.15%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 6537  | 5985  | 5630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398789.SRDSQ, 6.67%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3061  | 2783  | 2817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398919.SRDSQ, 4.78%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3912  | 3650  | 3742  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **187** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8398994.SRDSQ, 5.67%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | $1474  | $1358  | $1400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399102.SRDSQ, 4.96%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 910  | 847  | 657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399239.SRDSQ, 5.91%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1223  | 1123  | 1173  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399355.SRDSQ, 4.78%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3242  | 3025  | 3103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399424.SRDSQ, 4.78%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1786  | 1667  | 1712  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399477.SRDSQ, 6.33%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 1739  | 1588  | 1232  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8399516.SRDSQ, 4.78%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 43941  | 41002  | 41781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400101.SRDSQ, 6.42%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 3775  | 3443  | 3688  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400226.SRDSQ, 6.67%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 5878  | 5343  | 4982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400297.SRDSQ, 5.11%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 14280  | 13263  | 13857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400564.SRDSQ, 5.41%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 33615  | 31093  | 24605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400852.SRDSQ, 6.42%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 2345  | 2139  | 2095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400878.SRDSQ, 6.34%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 527  | 481  | 504  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8400978.SRDSQ, 5.91%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 7196  | 6610  | 5087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8401058.SRDSQ, 5.66%, 5/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/22/2024 | 4546  | 4190  | 4255  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403362.SRDSQ, 5.63%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 7113  | 6558  | 5412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403439.SRDSQ, 6.41%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 2191  | 1998  | 1783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403468.SRDSQ, 5.66%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 2390  | 2203  | 2238  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403504.SRDSQ, 6.68%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 1569  | 1426  | 1530  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403607.SRDSQ, 5.40%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 1162  | 1075  | 1108  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403621.SRDSQ, 5.12%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 4794  | 4453  | 3925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403716.SRDSQ, 4.78%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 9267  | 8647  | 8952  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403914.SRDSQ, 4.78%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 1074  | 1002  | 1045  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8403943.SRDSQ, 5.91%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 7521  | 6908  | 7117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8404297.SRDSQ, 4.79%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 3296  | 3075  | 3172  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8404627.SRDSQ, 4.78%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 8036  | 7498  | 7698  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8404845.SRDSQ, 4.78%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 8326  | 7769  | 8051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405015.SRDSQ, 5.66%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 1635  | 1507  | 1582  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405053.SRDSQ, 5.11%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 34297  | 31853  | 32731  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405683.SRDSQ, 5.11%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 5541  | 5146  | 4415  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405736.SRDSQ, 5.41%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 13703  | 12674  | 12673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405906.SRDSQ, 5.41%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 2174  | 2011  | 2110  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8405963.SRDSQ, 5.12%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 3016  | 2801  | 2848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406018.SRDSQ, 5.91%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 2657  | 2441  | 2509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406124.SRDSQ, 6.42%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 12052  | 10993  | 11498  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406297.SRDSQ, 5.11%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 9035  | 8392  | 8266  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406409.SRDSQ, 6.54%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 416  | 379  | 400  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406419.SRDSQ, 5.92%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 3576  | 3285  | 3384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406459.SRDSQ, 5.41%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 13639  | 12616  | 13053  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8406826.SRDSQ, 4.78%, 5/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/25/2024 | 38333  | 35768  | 36932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8407568.SRDSQ, 5.11%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 31588  | 29337  | 29897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8408637.SRDSQ, 6.42%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 2247  | 2050  | 1412  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8408686.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 4045  | 3774  | 3865  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8408866.SRDSQ, 5.12%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 375  | 348  | 369  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8408952.SRDSQ, 4.77%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 3183  | 2971  | 3044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8409056.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 3236  | 3019  | 2822  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8409221.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 6412  | 5983  | 4962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8409751.SRDSQ, 5.91%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 8741  | 8029  | 8234  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8410042.SRDSQ, 5.12%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 2192  | 2036  | 2073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8410686.SRDSQ, 4.95%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 1255  | 1169  | 809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8410705.SRDSQ, 5.66%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 687  | 633  | 635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8410711.SRDSQ, 5.11%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 10258  | 9527  | 9897  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **188** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8411571.SRDSQ, 5.42%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | $1749  | $1618  | $1662  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8411610.SRDSQ, 6.16%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 800  | 732  | 768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8411625.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 8668  | 8088  | 8380  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8412676.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 4174  | 3895  | 4013  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8412734.SRDSQ, 6.67%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 5413  | 4921  | 5129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8412831.SRDSQ, 4.78%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 612  | 571  | 588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8412872.SRDSQ, 6.15%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 2377  | 2176  | 1656  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8412916.SRDSQ, 5.66%, 5/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/26/2024 | 22934  | 21139  | 21795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413026.SRDSQ, 4.78%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 5777  | 5391  | 5562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413112.SRDSQ, 6.15%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1603  | 1467  | 1506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413141.SRDSQ, 6.67%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3337  | 3034  | 3078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413193.SRDSQ, 4.78%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3381  | 3155  | 3246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413231.SRDSQ, 6.42%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1600  | 1459  | 1549  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413286.SRDSQ, 4.79%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3333  | 3110  | 3148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413327.SRDSQ, 5.66%, 5/23/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 10581  | 9753  | 2081  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413420.SRDSQ, 5.41%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3422  | 3166  | 3290  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413471.SRDSQ, 4.78%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1257  | 1173  | 1225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413498.SRDSQ, 5.12%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 8350  | 7755  | 7944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413603.SRDSQ, 6.33%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1783  | 1629  | 1658  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413628.SRDSQ, 5.40%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1553  | 1437  | 1501  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413660.SRDSQ, 5.11%, 5/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 17833  | 16563  | 17105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413919.SRDSQ, 4.78%, 5/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3695  | 3447  | 3510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8413970.SRDSQ, 4.78%, 5/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3025  | 2823  | 2634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8414000.SRDSQ, 4.96%, 5/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 2280  | 2122  | 2087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8414047.SRDSQ, 6.15%, 5/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 20645  | 18901  | 19580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8414682.SRDSQ, 4.78%, 5/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1944  | 1814  | 1883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8414713.SRDSQ, 6.32%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 928  | 848  | 863  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8414731.SRDSQ, 5.41%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 13829  | 12791  | 13294  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8415846.SRDSQ, 6.68%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 414  | 377  | 398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8415884.SRDSQ, 6.54%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3588  | 3267  | 517  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416075.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 4973  | 4641  | 4798  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416305.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3242  | 3025  | 3118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416503.SRDSQ, 6.33%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 931  | 850  | 483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416526.SRDSQ, 6.15%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 10040  | 9192  | 9263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416860.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 602  | 561  | 579  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416889.SRDSQ, 5.67%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 2474  | 2280  | 2402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416975.SRDSQ, 6.53%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 769  | 700  | 726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8416986.SRDSQ, 5.66%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 2182  | 2011  | 2106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417068.SRDSQ, 6.45%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 463  | 422  | 448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417089.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 2105  | 1964  | 2033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417135.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 20399  | 19034  | 17671  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417487.SRDSQ, 5.41%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 6662  | 6162  | 2289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417691.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 3954  | 3690  | 3677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8417756.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 67756  | 63223  | 63366  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8418801.SRDSQ, 6.56%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 1008  | 918  | 951  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8419293.SRDSQ, 4.78%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 6240  | 5823  | 5799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8419350.SRDSQ, 6.42%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 2691  | 2454  | 2507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8419384.SRDSQ, 6.42%, 5/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/27/2024 | 6210  | 5665  | 5524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8421191.SRDSQ, 4.78%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 7394  | 6900  | 7113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8421273.SRDSQ, 6.32%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 4077  | 3724  | 2903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8421354.SRDSQ, 5.11%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 11564  | 10740  | 10993  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8421624.SRDSQ, 6.33%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 2304  | 2104  | 2138  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **189** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8421674.SRDSQ, 5.66%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | $17897  | $16496  | $13478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8422045.SRDSQ, 6.15%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 4703  | 4306  | 4042  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8422216.SRDSQ, 5.11%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 17017  | 15805  | 16429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8422754.SRDSQ, 4.78%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 7923  | 7393  | 7578  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8422887.SRDSQ, 4.78%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 9237  | 8619  | 8877  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8423120.SRDSQ, 6.67%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 5235  | 4758  | 5021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8423338.SRDSQ, 5.41%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 25568  | 23650  | 24533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8423837.SRDSQ, 6.30%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 856  | 782  | 379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8423856.SRDSQ, 5.12%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 796  | 740  | 781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8424020.SRDSQ, 4.78%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 13466  | 12565  | 13024  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8424262.SRDSQ, 5.42%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 2349  | 2173  | 2230  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8424354.SRDSQ, 4.78%, 5/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/29/2024 | 26876  | 25077  | 25998  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8542941.SRDSQ, 5.60%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 10859  | 10018  | 10422  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543040.SRDSQ, 5.35%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 26124  | 24185  | 24896  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543178.SRDSQ, 4.78%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 9124  | 8513  | 7407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543189.SRDSQ, 4.94%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 2690  | 2504  | 2474  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543202.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 35157  | 32834  | 33219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543302.SRDSQ, 5.60%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 1790  | 1652  | 1726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543323.SRDSQ, 5.93%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 1271  | 1168  | 1180  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543330.SRDSQ, 6.45%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 532  | 485  | 507  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543434.SRDSQ, 6.44%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 540  | 492  | 521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543437.SRDSQ, 5.59%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 1954  | 1803  | 1832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543448.SRDSQ, 6.42%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 2570  | 2344  | 2304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543464.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 3817  | 3549  | 3626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543481.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 1699  | 1587  | 1630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543493.SRDSQ, 5.13%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 1222  | 1135  | 1182  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543514.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 24890  | 23245  | 23899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543625.SRDSQ, 6.29%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 4211  | 3848  | 3925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543638.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 4545  | 4245  | 4381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543676.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 4698  | 4387  | 4017  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543681.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 3099  | 2894  | 2974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543691.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 13879  | 12905  | 13372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543752.SRDSQ, 6.10%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 2077  | 1903  | 1973  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8543758.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 10733  | 9980  | 9782  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8544122.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/2/2025 | 425  | 395  | 414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8544911.SRDSQ, 6.45%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 27979  | 25512  | 26197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8545482.SRDSQ, 4.72%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 41102  | 38386  | 38665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8546083.SRDSQ, 6.10%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 19657  | 18009  | 18636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8546488.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 3074  | 2858  | 2954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8546551.SRDSQ, 6.10%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 3905  | 3577  | 3673  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8546648.SRDSQ, 6.32%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 827  | 756  | 769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8546675.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 21531  | 20020  | 20585  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8547422.SRDSQ, 6.45%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 1159  | 1057  | 1128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8547464.SRDSQ, 6.10%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 2792  | 2558  | 2677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8547524.SRDSQ, 5.03%, 6/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/3/2025 | 33985  | 31600  | 32479  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8549979.SRDSQ, 5.59%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 1226  | 1131  | 1186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550016.SRDSQ, 6.10%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 10399  | 9527  | 9882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550129.SRDSQ, 4.72%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 2928  | 2734  | 2715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550157.SRDSQ, 6.46%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 749  | 683  | 703  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550167.SRDSQ, 6.44%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 5522  | 5036  | 1035  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550212.SRDSQ, 5.03%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 7167  | 6664  | 6593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550264.SRDSQ, 5.60%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 77627  | 71614  | 34537  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **190** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550800.SRDSQ, 4.72%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | $5488  | $5125  | $5216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550854.SRDSQ, 4.92%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 624  | 581  | 602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550864.SRDSQ, 5.63%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 4258  | 3927  | 2436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8550895.SRDSQ, 5.11%, 7/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 44744  | 41557  | 42853  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552319.SRDSQ, 6.46%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 815  | 743  | 793  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552335.SRDSQ, 5.03%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 10321  | 9597  | 8249  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552464.SRDSQ, 6.46%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 1435  | 1309  | 1381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552498.SRDSQ, 5.03%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 6960  | 6472  | 6686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552616.SRDSQ, 4.72%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 9994  | 9333  | 9654  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552805.SRDSQ, 6.45%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 1269  | 1157  | 1197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8552851.SRDSQ, 6.45%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 9175  | 8366  | 8580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8553006.SRDSQ, 5.91%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 2403  | 2207  | 2315  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8553067.SRDSQ, 5.35%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 19129  | 17709  | 18128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8553476.SRDSQ, 5.35%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 1904  | 1762  | 1834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8553925.SRDSQ, 6.43%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 1296  | 1182  | 1074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8554050.SRDSQ, 6.43%, 7/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/6/2025 | 906  | 826  | 833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8555172.SRDSQ, 4.72%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 3658  | 3416  | 3504  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8555219.SRDSQ, 6.45%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 4178  | 3810  | 2929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8555295.SRDSQ, 6.45%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 2029  | 1850  | 1971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8555316.SRDSQ, 5.91%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 38916  | 35746  | 36869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8556246.SRDSQ, 5.03%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 31782  | 29552  | 30747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8556911.SRDSQ, 6.44%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 1657  | 1511  | 1545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8556950.SRDSQ, 6.45%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 2082  | 1898  | 1940  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8556988.SRDSQ, 6.29%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 1125  | 1028  | 1070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557027.SRDSQ, 6.45%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 1412  | 1287  | 1355  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557050.SRDSQ, 5.60%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 2815  | 2597  | 2730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557180.SRDSQ, 6.45%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 9716  | 8859  | 8942  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557307.SRDSQ, 6.42%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 4390  | 4005  | 4178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557429.SRDSQ, 6.10%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 13860  | 12698  | 13458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8557721.SRDSQ, 5.60%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 53516  | 49371  | 50101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8558743.SRDSQ, 6.43%, 7/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/7/2025 | 743  | 677  | 701  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8558937.SRDSQ, 5.03%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1487  | 1382  | 1446  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8558985.SRDSQ, 4.72%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 7653  | 7147  | 7237  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8559109.SRDSQ, 6.45%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 7059  | 6437  | 6037  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8559235.SRDSQ, 5.63%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 4017  | 3704  | 3896  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8559614.SRDSQ, 6.47%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1155  | 1053  | 1021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8559645.SRDSQ, 6.45%, 7/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 24196  | 22063  | 22275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8560333.SRDSQ, 5.35%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 9464  | 8761  | 9032  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8560661.SRDSQ, 5.03%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 5961  | 5542  | 5471  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8560798.SRDSQ, 5.35%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1685  | 1560  | 1316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8560845.SRDSQ, 6.42%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 717  | 654  | 672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8560867.SRDSQ, 4.92%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 431  | 401  | 403  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561009.SRDSQ, 5.59%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1910  | 1762  | 1814  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561090.SRDSQ, 6.10%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 3065  | 2808  | 2704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561165.SRDSQ, 6.30%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 351  | 321  | 341  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561180.SRDSQ, 6.45%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 951  | 867  | 846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561208.SRDSQ, 6.10%, 7/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1633  | 1496  | 1581  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8561606.SRDSQ, 5.03%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 8841  | 8221  | 8462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8566192.SRDSQ, 6.10%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1498  | 1372  | 1465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8569642.SRDSQ, 5.60%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 8652  | 7982  | 8225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8587259.SRDSQ, 6.29%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 3121  | 2852  | 3046  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590166.SRDSQ, 4.71%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 2958  | 2762  | 2788  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **191** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590289.SRDSQ, 5.60%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | $5684  | $5244  | $5492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590519.SRDSQ, 4.72%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 5248  | 4901  | 4956  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590660.SRDSQ, 4.71%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 4087  | 3818  | 3911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590731.SRDSQ, 4.72%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 6340  | 5921  | 6015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8590846.SRDSQ, 5.91%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 7470  | 6862  | 6859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8591217.SRDSQ, 5.35%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 27789  | 25726  | 26435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8592134.SRDSQ, 4.72%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 15764  | 14722  | 14812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8592658.SRDSQ, 5.04%, 7/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2025 | 1442  | 1341  | 1372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8592705.SRDSQ, 5.03%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 3983  | 3704  | 3829  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8592902.SRDSQ, 5.91%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 14937  | 13720  | 14209  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8593564.SRDSQ, 6.44%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 1756  | 1602  | 644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8593628.SRDSQ, 4.74%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 979  | 914  | 946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8593671.SRDSQ, 5.03%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 8485  | 7890  | 8125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8594125.SRDSQ, 5.91%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 24061  | 22101  | 22922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8594733.SRDSQ, 5.03%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 71314  | 66310  | 67269  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596031.SRDSQ, 4.71%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 4407  | 4116  | 4214  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596107.SRDSQ, 4.72%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 14037  | 13109  | 13371  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596352.SRDSQ, 4.71%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 4713  | 4402  | 4473  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596405.SRDSQ, 4.72%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 15075  | 14078  | 14160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596599.SRDSQ, 4.72%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 7575  | 7074  | 7110  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596712.SRDSQ, 5.03%, 7/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/9/2025 | 8578  | 7976  | 8142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596822.SRDSQ, 6.45%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 3446  | 3142  | 2968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8596951.SRDSQ, 5.63%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 5952  | 5488  | 5755  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8597237.SRDSQ, 4.72%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 24267  | 22664  | 23020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8597938.SRDSQ, 4.72%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 37345  | 34877  | 36157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8598655.SRDSQ, 5.91%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 25455  | 23381  | 23373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8599143.SRDSQ, 6.45%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 30239  | 27572  | 29222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8599671.SRDSQ, 4.94%, 7/8/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 12382  | 11529  | 2488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8599753.SRDSQ, 4.72%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 15112  | 14114  | 14441  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8599853.SRDSQ, 6.45%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 20427  | 18626  | 19550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8600210.SRDSQ, 5.35%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 1168  | 1081  | 1116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8600215.SRDSQ, 6.29%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/10/2025 | 4648  | 4248  | 4527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8602229.SRDSQ, 4.72%, 7/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 3336  | 3115  | 3139  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8602392.SRDSQ, 5.35%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 31277  | 28955  | 29914  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603004.SRDSQ, 4.72%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 4669  | 4361  | 4407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603105.SRDSQ, 4.72%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 4190  | 3913  | 3889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603226.SRDSQ, 6.29%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 487  | 445  | 282  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603242.SRDSQ, 4.90%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 331  | 308  | 319  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603615.SRDSQ, 5.03%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 8679  | 8070  | 8311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603789.SRDSQ, 5.91%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 4621  | 4245  | 4298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8603968.SRDSQ, 5.60%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 9207  | 8494  | 8827  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8604203.SRDSQ, 4.72%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 12073  | 11275  | 11170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8604411.SRDSQ, 6.29%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 3376  | 3085  | 3216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8604481.SRDSQ, 4.72%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 10074  | 9408  | 9560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8604667.SRDSQ, 5.60%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 45268  | 41762  | 42792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605484.SRDSQ, 4.72%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 6396  | 5973  | 6094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605597.SRDSQ, 6.45%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 2331  | 2125  | 2167  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605640.SRDSQ, 6.27%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 979  | 895  | 922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605648.SRDSQ, 6.45%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 978  | 892  | 951  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605686.SRDSQ, 4.71%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 3516  | 3284  | 3368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605798.SRDSQ, 6.44%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 2049  | 1868  | 1920  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605852.SRDSQ, 6.10%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 1444  | 1323  | 1373  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **192** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605890.SRDSQ, 5.60%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | $2693  | $2484  | $2589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605919.SRDSQ, 5.60%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 2498  | 2305  | 1910  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605948.SRDSQ, 6.46%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 850  | 775  | 832  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605983.SRDSQ, 6.47%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 788  | 718  | 742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8605999.SRDSQ, 5.91%, 7/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/13/2025 | 9023  | 8288  | 8420  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606040.SRDSQ, 5.62%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 1406  | 1297  | 1077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606105.SRDSQ, 6.43%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 894  | 816  | 776  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606131.SRDSQ, 4.72%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 4671  | 4362  | 4442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606242.SRDSQ, 5.91%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 13394  | 12303  | 12683  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606640.SRDSQ, 6.44%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 1534  | 1399  | 1475  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8606754.SRDSQ, 5.35%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 20390  | 18876  | 19550  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8607361.SRDSQ, 4.72%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 18437  | 17218  | 15996  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8607717.SRDSQ, 5.03%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 5319  | 4946  | 5146  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8607790.SRDSQ, 4.72%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 40002  | 37358  | 38305  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8608417.SRDSQ, 4.72%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 42177  | 39390  | 40235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609192.SRDSQ, 4.72%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 1368  | 1277  | 1308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609225.SRDSQ, 5.34%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 2611  | 2417  | 2488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609337.SRDSQ, 5.60%, 7/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/14/2025 | 3202  | 2954  | 3072  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609467.SRDSQ, 4.72%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 5374  | 5019  | 5129  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609516.SRDSQ, 6.10%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 7334  | 6719  | 6698  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609690.SRDSQ, 5.35%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 2407  | 2229  | 2289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609778.SRDSQ, 4.72%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 5330  | 4977  | 4990  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8609849.SRDSQ, 4.72%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 15940  | 14887  | 15317  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610127.SRDSQ, 5.64%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 1897  | 1749  | 1008  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610150.SRDSQ, 4.94%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 1088  | 1013  | 793  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610165.SRDSQ, 4.72%, 7/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 4275  | 3992  | 4079  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610218.SRDSQ, 5.59%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 2159  | 1992  | 1644  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610259.SRDSQ, 6.42%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 460  | 420  | 134  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610267.SRDSQ, 6.45%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 2545  | 2329  | 2487  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610337.SRDSQ, 4.71%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 3841  | 3587  | 3689  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610393.SRDSQ, 4.72%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 9934  | 9277  | 9574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610561.SRDSQ, 5.34%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 3808  | 3526  | 3605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8610613.SRDSQ, 4.72%, 7/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 25211  | 23545  | 24424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8611301.SRDSQ, 6.44%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 3104  | 2831  | 2803  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8611364.SRDSQ, 6.28%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 1085  | 992  | 365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8611385.SRDSQ, 5.03%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 16880  | 15695  | 15768  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8611930.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 23023  | 21502  | 18710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8612450.SRDSQ, 5.91%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 1062  | 975  | 1006  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8612491.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 797  | 744  | 759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8612509.SRDSQ, 6.43%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 638  | 582  | 615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8612535.SRDSQ, 5.04%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 5491  | 5105  | 4399  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8612662.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 29048  | 27129  | 27584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8613101.SRDSQ, 5.03%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 954  | 887  | 929  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8613149.SRDSQ, 5.03%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 22867  | 21262  | 21809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8613496.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 19423  | 18140  | 18506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8613851.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 9035  | 8438  | 8573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8614013.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 4009  | 3744  | 3808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8614057.SRDSQ, 4.72%, 7/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/15/2025 | 29674  | 27714  | 28312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8614633.SRDSQ, 5.91%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 15723  | 14442  | 14739  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8614975.SRDSQ, 4.72%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 7143  | 6670  | 6869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8615180.SRDSQ, 6.45%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 4121  | 3757  | 3938  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8615410.SRDSQ, 6.45%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 847  | 773  | 830  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **193** |

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**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8615468.SRDSQ, 6.45%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | $13381  | $12201  | $12294  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8615957.SRDSQ, 4.72%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 3350  | 3129  | 3216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616164.SRDSQ, 5.03%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 16741  | 15566  | 13721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616429.SRDSQ, 4.72%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 9232  | 8622  | 8821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616585.SRDSQ, 5.91%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 14554  | 13369  | 13741  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616825.SRDSQ, 5.04%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 1484  | 1380  | 1427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616889.SRDSQ, 5.60%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 2683  | 2475  | 2592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616941.SRDSQ, 5.60%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 2249  | 2075  | 2003  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8616983.SRDSQ, 4.72%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 15928  | 14877  | 15429  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617251.SRDSQ, 6.31%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 653  | 596  | 632  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617270.SRDSQ, 6.44%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 4372  | 3986  | 4250  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617396.SRDSQ, 5.63%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 1588  | 1465  | 1538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617476.SRDSQ, 5.35%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 23851  | 22080  | 22580  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617785.SRDSQ, 6.10%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 3159  | 2894  | 3019  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8617824.SRDSQ, 5.91%, 7/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/16/2025 | 24505  | 22508  | 23198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618002.SRDSQ, 5.60%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4271  | 3941  | 4067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618102.SRDSQ, 4.71%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 2724  | 2544  | 2586  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618171.SRDSQ, 4.71%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 3268  | 3052  | 3114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618239.SRDSQ, 6.46%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 940  | 857  | 875  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618262.SRDSQ, 4.72%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6577  | 6142  | 6300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8618455.SRDSQ, 6.10%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 21239  | 19458  | 20120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619224.SRDSQ, 6.28%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 931  | 851  | 886  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619256.SRDSQ, 5.34%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4819  | 4462  | 3596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619321.SRDSQ, 5.03%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 6381  | 5933  | 6002  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619493.SRDSQ, 6.11%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 1664  | 1524  | 1616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619526.SRDSQ, 4.72%, 7/15/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 22627  | 21131  | 16556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619914.SRDSQ, 5.03%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 4383  | 4076  | 4115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8619971.SRDSQ, 4.72%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 19260  | 17987  | 18414  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8621119.SRDSQ, 5.03%, 7/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/17/2025 | 92270  | 85795  | 41480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8624621.SRDSQ, 4.71%, 7/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 3097  | 2892  | 2897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8624717.SRDSQ, 6.45%, 7/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 39043  | 35601  | 36753  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8626116.SRDSQ, 6.45%, 7/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 28235  | 25745  | 26991  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8626969.SRDSQ, 6.45%, 7/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/21/2025 | 37252  | 33967  | 36170  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8628339.SRDSQ, 5.60%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 8957  | 8263  | 8378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8628688.SRDSQ, 6.10%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 4292  | 3932  | 3994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8628822.SRDSQ, 5.03%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 2417  | 2247  | 2335  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8628914.SRDSQ, 4.72%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 7381  | 6893  | 7020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8629286.SRDSQ, 5.02%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 1489  | 1385  | 1370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8629331.SRDSQ, 4.72%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 11240  | 10497  | 9440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8629602.SRDSQ, 5.60%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 11694  | 10788  | 11362  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8629904.SRDSQ, 6.45%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 1054  | 961  | 1036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8630021.SRDSQ, 6.10%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 26974  | 24713  | 25058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8630658.SRDSQ, 4.72%, 7/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | 72700  | 67896  | 69667  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8631866.SRDSQ, 4.94%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 503  | 468  | 490  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8631885.SRDSQ, 4.72%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3886  | 3628  | 3645  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8631924.SRDSQ, 4.71%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2103  | 1964  | 2033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8631959.SRDSQ, 6.30%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 449  | 410  | 435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8631967.SRDSQ, 5.03%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 27129  | 25226  | 25333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632295.SRDSQ, 4.72%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 8083  | 7549  | 6899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632377.SRDSQ, 5.61%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1721  | 1587  | 1634  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632395.SRDSQ, 5.03%, 7/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 7044  | 6550  | 6568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632494.SRDSQ, 5.03%, 7/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3361  | 3125  | 3133  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **194** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632543.SRDSQ, 5.61%, 7/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | $776  | $716  | $747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632622.SRDSQ, 5.35%, 7/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 18161  | 16813  | 17522  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8632963.SRDSQ, 5.03%, 7/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5006  | 4655  | 4826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633043.SRDSQ, 6.45%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2701  | 2463  | 1391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633068.SRDSQ, 4.72%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 16794  | 15684  | 15821  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633293.SRDSQ, 5.03%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 4543  | 4224  | 4304  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633345.SRDSQ, 6.44%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2051  | 1870  | 1877  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633379.SRDSQ, 5.03%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 6682  | 6214  | 6378  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633420.SRDSQ, 5.35%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2576  | 2384  | 2492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633466.SRDSQ, 6.45%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2915  | 2658  | 1844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633485.SRDSQ, 4.72%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2389  | 2231  | 2287  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633500.SRDSQ, 5.03%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 32956  | 30643  | 31426  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633916.SRDSQ, 6.45%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1428  | 1302  | 1358  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633938.SRDSQ, 5.66%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 335  | 309  | 320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8633946.SRDSQ, 4.95%, 7/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 395  | 368  | 376  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8634000.SRDSQ, 6.45%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 14902  | 13588  | 14483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8634562.SRDSQ, 4.71%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3949  | 3688  | 3743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8634614.SRDSQ, 4.90%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 379  | 353  | 360  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8634648.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5213  | 4869  | 5049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8634943.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5338  | 4985  | 5149  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635091.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1777  | 1660  | 1687  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635148.SRDSQ, 5.35%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3912  | 3621  | 3723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635227.SRDSQ, 6.10%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 6198  | 5679  | 5808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635380.SRDSQ, 4.73%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1917  | 1790  | 1849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635399.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 10305  | 9624  | 9536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635613.SRDSQ, 5.59%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3286  | 3031  | 3067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635670.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 11163  | 10425  | 10705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8635941.SRDSQ, 6.45%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3640  | 3319  | 3300  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636021.SRDSQ, 4.71%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5863  | 5476  | 5427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636140.SRDSQ, 6.45%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 610  | 556  | 556  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636157.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 5175  | 4833  | 4864  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636213.SRDSQ, 5.35%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 17701  | 16386  | 17021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636538.SRDSQ, 6.31%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 787  | 719  | 719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636555.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 3713  | 3467  | 3526  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636609.SRDSQ, 5.05%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1455  | 1353  | 1367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636640.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 28385  | 26509  | 26307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637124.SRDSQ, 5.59%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 2602  | 2400  | 2445  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637166.SRDSQ, 5.36%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1338  | 1238  | 1242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637199.SRDSQ, 6.29%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 1238  | 1131  | 1131  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637213.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 7616  | 7112  | 7169  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637303.SRDSQ, 4.71%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 6031  | 5633  | 5733  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637367.SRDSQ, 4.72%, 7/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/23/2025 | 8219  | 7676  | 7822  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637472.SRDSQ, 6.47%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 783  | 714  | 735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637585.SRDSQ, 5.35%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 1890  | 1749  | 1810  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637618.SRDSQ, 6.29%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 1086  | 993  | 1055  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637644.SRDSQ, 4.91%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 533  | 496  | 500  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637656.SRDSQ, 5.35%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 14435  | 13363  | 13705  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637814.SRDSQ, 6.10%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5471  | 5012  | 5118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637889.SRDSQ, 4.94%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 1457  | 1356  | 361  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8637922.SRDSQ, 6.45%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 9241  | 8427  | 7900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8638119.SRDSQ, 5.03%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 21264  | 19772  | 20297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8638849.SRDSQ, 5.63%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 4145  | 3822  | 3895  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **195** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8638946.SRDSQ, 5.03%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | $6441  | $5989  | $6106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639124.SRDSQ, 4.72%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5843  | 5457  | 5588  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639258.SRDSQ, 6.29%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5661  | 5173  | 5177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639340.SRDSQ, 5.91%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 11661  | 10711  | 10899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639647.SRDSQ, 5.35%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 2141  | 1982  | 2050  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639673.SRDSQ, 5.60%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 4118  | 3799  | 3867  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639706.SRDSQ, 4.72%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5398  | 5041  | 4729  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639758.SRDSQ, 6.27%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 640  | 585  | 526  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8639774.SRDSQ, 4.72%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 51236  | 47850  | 47367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8640475.SRDSQ, 6.45%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 11345  | 10345  | 10608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8640579.SRDSQ, 5.59%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 5703  | 5261  | 5534  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8640673.SRDSQ, 5.91%, 7/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/24/2025 | 50489  | 46376  | 48065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8642973.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 9221  | 8612  | 8491  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643192.SRDSQ, 4.93%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 565  | 526  | 536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643220.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 5652  | 5278  | 5427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643396.SRDSQ, 6.28%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 699  | 638  | 665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643431.SRDSQ, 6.28%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 1018  | 930  | 980  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643519.SRDSQ, 5.03%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 5319  | 4946  | 5001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8643790.SRDSQ, 6.45%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 9522  | 8683  | 8721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644178.SRDSQ, 5.63%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 2565  | 2366  | 2488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644284.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 5147  | 4807  | 4882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644388.SRDSQ, 4.73%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 2282  | 2131  | 2185  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644443.SRDSQ, 5.03%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 6991  | 6500  | 6725  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644660.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 7720  | 7210  | 7404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644813.SRDSQ, 6.30%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 847  | 774  | 743  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8644821.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 21106  | 19711  | 20177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8645245.SRDSQ, 5.35%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 6366  | 5893  | 6067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8645384.SRDSQ, 6.28%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 1543  | 1411  | 1453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8645431.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 46970  | 43866  | 45458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8646650.SRDSQ, 4.72%, 7/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/27/2025 | 7034  | 6569  | 6615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8646754.SRDSQ, 4.73%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 3036  | 2835  | 2856  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647019.SRDSQ, 6.45%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 2434  | 2219  | 2351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647176.SRDSQ, 6.45%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 2254  | 2055  | 1882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647296.SRDSQ, 6.45%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 617  | 562  | 563  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647354.SRDSQ, 4.72%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 3336  | 3115  | 3141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647517.SRDSQ, 4.71%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 3751  | 3503  | 3569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647701.SRDSQ, 6.46%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 3466  | 3160  | 2174  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8647930.SRDSQ, 4.72%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 2746  | 2564  | 2623  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648028.SRDSQ, 6.45%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 5611  | 5116  | 5252  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648232.SRDSQ, 5.91%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 5498  | 5050  | 3804  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648321.SRDSQ, 6.10%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 14228  | 13035  | 13472  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648765.SRDSQ, 4.72%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 11742  | 10966  | 11145  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8648974.SRDSQ, 6.10%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 6097  | 5586  | 5336  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649049.SRDSQ, 4.72%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 5108  | 4771  | 4922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649169.SRDSQ, 6.09%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 1159  | 1062  | 1027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649205.SRDSQ, 5.92%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 5697  | 5233  | 5431  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649407.SRDSQ, 5.61%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 1566  | 1445  | 1476  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649429.SRDSQ, 5.63%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 5028  | 4636  | 3365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8649471.SRDSQ, 5.03%, 7/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/28/2025 | 74583  | 69349  | 70633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8650785.SRDSQ, 6.29%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1994  | 1823  | 1876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8650827.SRDSQ, 5.35%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 2062  | 1909  | 1959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8650841.SRDSQ, 5.60%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9123  | 8416  | 8376  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **196** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8650925.SRDSQ, 4.96%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | $1558  | $1451  | $848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8650950.SRDSQ, 6.10%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 17341  | 15887  | 16278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651213.SRDSQ, 5.60%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4201  | 3876  | 4073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651301.SRDSQ, 4.71%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1435  | 1341  | 1367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651320.SRDSQ, 5.59%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 2277  | 2100  | 2140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651366.SRDSQ, 4.72%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 13742  | 12834  | 12961  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651582.SRDSQ, 5.03%, 7/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 8141  | 7570  | 6846  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651699.SRDSQ, 6.45%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4826  | 4400  | 4623  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651778.SRDSQ, 5.62%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1186  | 1094  | 1103  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651806.SRDSQ, 6.10%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1498  | 1372  | 1318  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651856.SRDSQ, 5.35%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9498  | 8793  | 8978  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8651997.SRDSQ, 5.90%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1108  | 1018  | 1073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652018.SRDSQ, 4.71%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1826  | 1706  | 1718  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652051.SRDSQ, 4.72%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4459  | 4165  | 4298  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652115.SRDSQ, 4.72%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4040  | 3773  | 3860  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652178.SRDSQ, 6.46%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1022  | 931  | 842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652201.SRDSQ, 5.34%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 2732  | 2529  | 2454  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652246.SRDSQ, 4.72%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 5818  | 5434  | 5509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652344.SRDSQ, 4.94%, 7/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 3038  | 2829  | 2883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8652521.SRDSQ, 5.03%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 19074  | 17736  | 18065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8653491.SRDSQ, 4.72%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 6265  | 5851  | 5764  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8653715.SRDSQ, 4.72%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4163  | 3888  | 3974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8653817.SRDSQ, 5.62%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 651  | 601  | 626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8653841.SRDSQ, 4.72%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 6884  | 6429  | 6584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654058.SRDSQ, 6.10%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1787  | 1637  | 1675  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654097.SRDSQ, 4.72%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 15871  | 14822  | 15481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654485.SRDSQ, 6.12%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 1002  | 917  | 957  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654500.SRDSQ, 6.45%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 2968  | 2706  | 2844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654574.SRDSQ, 4.72%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 16453  | 15366  | 15911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8654925.SRDSQ, 4.71%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 5474  | 5112  | 4764  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8655009.SRDSQ, 5.35%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 20039  | 18551  | 18869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8655502.SRDSQ, 4.71%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 5680  | 5305  | 5394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8655636.SRDSQ, 6.43%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 719  | 656  | 645  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8655673.SRDSQ, 5.60%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 4623  | 4264  | 4299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8655766.SRDSQ, 6.45%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 8088  | 7375  | 7795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8656020.SRDSQ, 6.29%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 9665  | 8831  | 9309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8656348.SRDSQ, 5.35%, 7/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/29/2025 | 11462  | 10611  | 10797  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8656596.SRDSQ, 4.72%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 55158  | 51513  | 50918  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8658833.SRDSQ, 6.45%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 6201  | 5658  | 2439  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8658992.SRDSQ, 4.72%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 8767  | 8188  | 8235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8659185.SRDSQ, 5.35%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 3237  | 2997  | 3138  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8659291.SRDSQ, 6.10%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 14831  | 13587  | 13772  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8659534.SRDSQ, 4.96%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 329  | 306  | 316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8659568.SRDSQ, 6.45%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 6981  | 6365  | 6687  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8660215.SRDSQ, 6.45%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 13585  | 12387  | 12447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8660507.SRDSQ, 5.91%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 12809  | 11765  | 12181  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8660861.SRDSQ, 5.03%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 3883  | 3610  | 3747  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8661002.SRDSQ, 4.94%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 2045  | 1904  | 1752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8661090.SRDSQ, 4.72%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 37911  | 35405  | 35968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8661893.SRDSQ, 5.03%, 7/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/30/2025 | 23966  | 22284  | 22706  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8661955.SRDSQ, 6.10%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 2443  | 2238  | 2330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8662058.SRDSQ, 5.63%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 3921  | 3616  | 3791  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **197** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8662338.SRDSQ, 6.45%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | $4093  | $3732  | $3874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8662534.SRDSQ, 5.60%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 4443  | 4098  | 3643  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8662673.SRDSQ, 4.71%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 3813  | 3561  | 3618  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8662816.SRDSQ, 5.91%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 2335  | 2145  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8663001.SRDSQ, 5.03%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 23198  | 21570  | 22030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8663684.SRDSQ, 5.03%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 38258  | 35573  | 33036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8665598.SRDSQ, 5.35%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 25300  | 23422  | 23143  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8666117.SRDSQ, 5.03%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 2011  | 1870  | 1915  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8666158.SRDSQ, 6.45%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 5550  | 5061  | 5168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8666283.SRDSQ, 5.03%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 39883  | 37084  | 37606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8666822.SRDSQ, 4.72%, 7/29/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/31/2025 | 49338  | 46078  | 44218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8672958.SRDSQ, 4.72%, 7/30/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/3/2025 | 113514  | 106013  | 107838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8678928.SRDSQ, 4.72%, 7/31/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/4/2025 | 98774  | 92247  | 93669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8686529.SRDSQ, 5.60%, 8/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/5/2025 | 81084  | 74803  | 76686  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8686703.SRDSQ, 5.03%, 8/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/5/2025 | 95940  | 89207  | 91557  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8687289.SRDSQ, 6.10%, 8/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/5/2025 | 84289  | 77222  | 79043  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8697347.SRDSQ, 5.03%, 8/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 91352  | 84941  | 85989  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8697465.SRDSQ, 4.72%, 8/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/7/2025 | 102423  | 95655  | 97156  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8703908.SRDSQ, 5.03%, 8/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 129304  | 120230  | 122273  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8705640.SRDSQ, 4.72%, 8/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/10/2025 | 131411  | 122728  | 124702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8708994.SRDSQ, 5.35%, 8/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 107530  | 99547  | 101626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8710721.SRDSQ, 5.35%, 8/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/11/2025 | 126816  | 117401  | 119341  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8714960.SRDSQ, 4.72%, 8/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 107280  | 100191  | 100880  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8717791.SRDSQ, 5.35%, 8/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/12/2025 | 83754  | 77537  | 79072  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8720015.SRDSQ, 4.72%, 8/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/13/2025 | 140497  | 131213  | 133058  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8723406.SRDSQ, 4.72%, 8/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 84925  | 79313  | 80611  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8725817.SRDSQ, 4.72%, 8/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/14/2025 | 127270  | 118860  | 120499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8731158.SRDSQ, 5.60%, 8/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 68124  | 62848  | 64939  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8733096.SRDSQ, 4.72%, 8/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/18/2025 | 147267  | 137536  | 139073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8738059.SRDSQ, 4.72%, 8/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/19/2025 | 116455  | 108760  | 110375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8741796.SRDSQ, 5.35%, 8/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 106623  | 98707  | 100311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8746621.SRDSQ, 4.72%, 8/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/20/2025 | 141663  | 132301  | 133339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8747951.SRDSQ, 4.72%, 8/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/21/2025 | 195622  | 182695  | 183651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8754472.SRDSQ, 5.35%, 8/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 128670  | 119118  | 120275  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8755684.SRDSQ, 4.72%, 8/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/24/2025 | 118052  | 110251  | 111781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8758737.SRDSQ, 4.72%, 8/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/25/2025 | 201459  | 188146  | 190446  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8761373.SRDSQ, 4.72%, 8/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 136972  | 127921  | 129128  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8767147.SRDSQ, 4.72%, 8/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/26/2025 | 225530  | 210627  | 213220  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8767828.SRDSQ, 6.45%, 8/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2025 | 86846  | 79188  | 80815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8772076.SRDSQ, 4.72%, 8/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/27/2025 | 116204  | 108525  | 109296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8772179.SRDSQ, 5.35%, 8/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 98801  | 91466  | 93331  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8776635.SRDSQ, 4.72%, 8/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2025 | 154326  | 144128  | 145361  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8779311.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 9203  | 8594  | 8690  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8779452.SRDSQ, 5.61%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 3209  | 2960  | 2986  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8779489.SRDSQ, 4.70%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 676  | 631  | 639  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8779493.SRDSQ, 5.35%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 6830  | 6322  | 6404  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8779572.SRDSQ, 5.03%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 62853  | 58442  | 59657  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8781078.SRDSQ, 5.35%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 1753  | 1623  | 1655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8781105.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 2245  | 2096  | 2119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8781177.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 9647  | 9009  | 9016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8781310.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 56726  | 52978  | 53016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782075.SRDSQ, 5.35%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 2712  | 2510  | 2569  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **198** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782115.SRDSQ, 6.11%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | $3113  | $2852  | $2916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782140.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 4551  | 4250  | 4297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782149.SRDSQ, 6.11%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 1958  | 1793  | 1854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782162.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 8747  | 8169  | 8195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782227.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 6673  | 6232  | 6301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782303.SRDSQ, 5.03%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 41919  | 38977  | 39448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782871.SRDSQ, 6.10%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 7884  | 7223  | 7092  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8782990.SRDSQ, 6.11%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 3895  | 3568  | 3702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783055.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 21942  | 20492  | 20721  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783317.SRDSQ, 5.35%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 11932  | 11046  | 11209  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783389.SRDSQ, 4.72%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 10531  | 9836  | 9896  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783511.SRDSQ, 4.71%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 6899  | 6443  | 6449  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783633.SRDSQ, 5.60%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 7629  | 7038  | 6371  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783706.SRDSQ, 6.10%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 7714  | 7068  | 6195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783813.SRDSQ, 5.35%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 1137  | 1053  | 1061  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783833.SRDSQ, 5.04%, 8/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/3/2025 | 3333  | 3099  | 3154  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8783942.SRDSQ, 5.35%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 70286  | 65068  | 64027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785065.SRDSQ, 6.30%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 1254  | 1146  | 881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785090.SRDSQ, 5.35%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 26743  | 24758  | 25270  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785597.SRDSQ, 6.45%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 1585  | 1445  | 1508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785634.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 12333  | 11518  | 11113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785829.SRDSQ, 6.46%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 1114  | 1015  | 1048  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8785844.SRDSQ, 5.03%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 25865  | 24050  | 23933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786163.SRDSQ, 5.35%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 7864  | 7280  | 7423  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786224.SRDSQ, 6.44%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 2002  | 1826  | 1872  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786249.SRDSQ, 6.44%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 3881  | 3539  | 3466  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786311.SRDSQ, 5.60%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 7638  | 7046  | 6383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786356.SRDSQ, 6.10%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 21580  | 19770  | 20207  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786564.SRDSQ, 6.29%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 1922  | 1756  | 1829  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786576.SRDSQ, 5.03%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 7728  | 7186  | 7312  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786681.SRDSQ, 5.03%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 37840  | 35184  | 35492  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8786945.SRDSQ, 6.45%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 14755  | 13454  | 13795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787077.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 4703  | 4392  | 4443  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787155.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 7327  | 6843  | 6848  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787206.SRDSQ, 5.02%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 3153  | 2932  | 2974  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787227.SRDSQ, 5.91%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 5784  | 5313  | 5402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787249.SRDSQ, 6.44%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 8706  | 7939  | 6384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787289.SRDSQ, 4.71%, 8/28/2026 (a)(n)(r)(t) | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 4675  | 4367  | 4213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787339.SRDSQ, 4.93%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 5286  | 4921  | 4350  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787393.SRDSQ, 5.35%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 4766  | 4413  | 4437  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787460.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 12029  | 11233  | 11301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787615.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 15585  | 14555  | 14723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787825.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 8572  | 8006  | 8028  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787950.SRDSQ, 4.72%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 972  | 908  | 911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8787967.SRDSQ, 5.91%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 13955  | 12818  | 12969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8788121.SRDSQ, 6.10%, 8/28/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/4/2025 | 7949  | 7283  | 6394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789102.SRDSQ, 6.46%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 1314  | 1198  | 933  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789123.SRDSQ, 4.72%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 9721  | 9078  | 9200  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789187.SRDSQ, 4.72%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4890  | 4567  | 4616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789195.SRDSQ, 6.10%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 14970  | 13714  | 13855  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789265.SRDSQ, 5.60%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 5601  | 5167  | 5293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789291.SRDSQ, 5.63%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4057  | 3741  | 3910  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **199** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789326.SRDSQ, 6.28%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | $1692  | $1546  | $1528  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789344.SRDSQ, 4.71%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4407  | 4116  | 4118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789380.SRDSQ, 4.72%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 15445  | 14424  | 14575  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789467.SRDSQ, 6.30%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2729  | 2494  | 2357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789490.SRDSQ, 5.03%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 23476  | 21829  | 22142  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789674.SRDSQ, 5.35%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 13978  | 12940  | 13127  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789780.SRDSQ, 5.03%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 5032  | 4679  | 4655  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789818.SRDSQ, 5.60%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 3945  | 3640  | 3299  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789844.SRDSQ, 4.72%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 3619  | 3380  | 3419  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789868.SRDSQ, 4.72%, 9/1/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 9635  | 8998  | 9093  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8789936.SRDSQ, 5.35%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 8682  | 8037  | 8222  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790010.SRDSQ, 5.03%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 7817  | 7269  | 7330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790057.SRDSQ, 4.72%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 1775  | 1658  | 1662  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790065.SRDSQ, 5.03%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 12053  | 11208  | 11150  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790134.SRDSQ, 6.44%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2057  | 1876  | 1521  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790146.SRDSQ, 5.34%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4005  | 3708  | 3735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790165.SRDSQ, 5.04%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4315  | 4012  | 4070  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790195.SRDSQ, 6.29%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 22781  | 20817  | 21343  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790392.SRDSQ, 6.47%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 935  | 852  | 877  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790410.SRDSQ, 4.72%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 29393  | 27450  | 27792  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790632.SRDSQ, 6.46%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2158  | 1967  | 1926  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790645.SRDSQ, 5.03%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2749  | 2556  | 2543  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790678.SRDSQ, 5.03%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 3240  | 3013  | 3027  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790703.SRDSQ, 5.92%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2620  | 2406  | 2180  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790723.SRDSQ, 5.03%, 9/2/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 9075  | 8439  | 8628  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790844.SRDSQ, 4.72%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 12250  | 11440  | 11559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8790917.SRDSQ, 6.10%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 6848  | 6274  | 6502  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791188.SRDSQ, 4.72%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 12650  | 11814  | 11844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791519.SRDSQ, 5.60%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 7684  | 7089  | 7268  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791734.SRDSQ, 5.35%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 3897  | 3608  | 3695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791824.SRDSQ, 4.73%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2261  | 2111  | 2136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791866.SRDSQ, 6.46%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 1392  | 1269  | 1295  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8791900.SRDSQ, 5.03%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 35832  | 33318  | 33598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8792437.SRDSQ, 6.44%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4888  | 4458  | 3829  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8792493.SRDSQ, 4.72%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 10088  | 9421  | 9529  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8792595.SRDSQ, 5.60%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 17173  | 15843  | 16242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8792902.SRDSQ, 5.35%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 16482  | 15259  | 13904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793012.SRDSQ, 5.35%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4399  | 4072  | 3711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793082.SRDSQ, 6.45%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2609  | 2379  | 2372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793128.SRDSQ, 5.64%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 1193  | 1100  | 1122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793156.SRDSQ, 5.59%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2862  | 2641  | 2717  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793207.SRDSQ, 4.94%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 10160  | 9459  | 4659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793280.SRDSQ, 4.71%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 7535  | 7037  | 7040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793335.SRDSQ, 4.72%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 46839  | 43744  | 44086  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8793879.SRDSQ, 4.72%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 32719  | 30557  | 30873  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794193.SRDSQ, 5.63%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2632  | 2427  | 2373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794211.SRDSQ, 4.71%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 1919  | 1793  | 1817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794238.SRDSQ, 5.35%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 24780  | 22940  | 20904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794479.SRDSQ, 6.44%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 4583  | 4179  | 3589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794507.SRDSQ, 5.03%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 37870  | 35212  | 35615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8794898.SRDSQ, 5.90%, 9/3/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/5/2025 | 2541  | 2334  | 2356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8795303.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 8712  | 8137  | 8222  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **200** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8795386.SRDSQ, 6.28%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | $2036  | $1861  | $1908  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8795405.SRDSQ, 5.03%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 7677  | 7138  | 7261  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8795460.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 45926  | 42891  | 43340  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796096.SRDSQ, 4.73%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 2523  | 2356  | 2370  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796166.SRDSQ, 5.03%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 4447  | 4135  | 4112  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796264.SRDSQ, 6.10%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 18306  | 16771  | 16812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796623.SRDSQ, 6.29%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 3992  | 3648  | 3453  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796712.SRDSQ, 5.34%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 2732  | 2530  | 2568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796750.SRDSQ, 5.04%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 1654  | 1538  | 1569  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796788.SRDSQ, 5.03%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 4365  | 4059  | 4077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796844.SRDSQ, 6.30%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 1936  | 1769  | 1719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8796868.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 23771  | 22200  | 22252  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8797376.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 12469  | 11645  | 11713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8797523.SRDSQ, 6.10%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 4255  | 3899  | 3985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8797586.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 58308  | 54455  | 54882  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798114.SRDSQ, 6.28%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 1194  | 1092  | 1136  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798132.SRDSQ, 5.03%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 5907  | 5493  | 5616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798194.SRDSQ, 5.60%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 13049  | 12038  | 11889  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798280.SRDSQ, 6.44%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 1395  | 1272  | 1267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798291.SRDSQ, 6.45%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 15814  | 14419  | 14551  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798433.SRDSQ, 5.35%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 11003  | 10186  | 9290  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798506.SRDSQ, 6.30%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 1601  | 1463  | 1385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798521.SRDSQ, 5.60%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 35308  | 32573  | 32850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8798770.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 34836  | 32533  | 32881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799076.SRDSQ, 5.03%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 3164  | 2942  | 2992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799115.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 10221  | 9546  | 9646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799195.SRDSQ, 5.91%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 27316  | 25091  | 25354  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799483.SRDSQ, 5.64%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 668  | 616  | 646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799486.SRDSQ, 5.91%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 6278  | 5766  | 5770  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799494.SRDSQ, 4.72%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 10217  | 9542  | 9564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799549.SRDSQ, 6.44%, 9/4/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/6/2025 | 4610  | 4203  | 4030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799674.SRDSQ, 5.60%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 7953  | 7338  | 6678  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799745.SRDSQ, 6.10%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 3698  | 3388  | 3448  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799791.SRDSQ, 5.35%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 5021  | 4648  | 4719  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799880.SRDSQ, 4.71%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 7740  | 7229  | 6985  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8799944.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 18297  | 17088  | 17278  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800194.SRDSQ, 6.32%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 660  | 603  | 613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800204.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 8751  | 8172  | 8263  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800401.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 4802  | 4484  | 4520  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800500.SRDSQ, 6.09%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 1178  | 1079  | 1060  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800524.SRDSQ, 5.91%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 12236  | 11239  | 11338  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800800.SRDSQ, 5.61%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 2305  | 2126  | 2144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800842.SRDSQ, 6.09%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 876  | 802  | 831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8800855.SRDSQ, 5.91%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 13500  | 12401  | 12617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801067.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 3049  | 2847  | 2877  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801113.SRDSQ, 5.03%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 12073  | 11226  | 11274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801261.SRDSQ, 5.35%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 5354  | 4957  | 4524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801305.SRDSQ, 6.46%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 1434  | 1308  | 1339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801337.SRDSQ, 5.62%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 2957  | 2727  | 2841  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801437.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 1921  | 1794  | 1808  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801479.SRDSQ, 5.02%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 1912  | 1778  | 1785  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801509.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 11021  | 10293  | 10399  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **201** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801665.SRDSQ, 5.03%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | $6907  | $6422  | $6064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8801763.SRDSQ, 5.35%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 30734  | 28452  | 28653  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802037.SRDSQ, 6.45%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 29521  | 26918  | 27716  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802343.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 7336  | 6851  | 6928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802446.SRDSQ, 5.63%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 8782  | 8099  | 8385  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802554.SRDSQ, 5.03%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 12958  | 12048  | 12254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802616.SRDSQ, 6.44%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 1569  | 1431  | 1483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8802626.SRDSQ, 6.10%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 73382  | 67230  | 68651  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803257.SRDSQ, 5.91%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 5637  | 5177  | 5223  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803321.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 9745  | 9101  | 9153  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803419.SRDSQ, 6.11%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 963  | 882  | 901  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803430.SRDSQ, 4.71%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 2879  | 2689  | 2599  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803444.SRDSQ, 6.44%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 6112  | 5573  | 5799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803511.SRDSQ, 6.10%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 7297  | 6686  | 6922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8803562.SRDSQ, 4.72%, 9/5/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/7/2025 | 54966  | 51334  | 51831  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806265.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 8037  | 7506  | 7519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806392.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 4986  | 4656  | 4699  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806459.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1693  | 1574  | 1586  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806476.SRDSQ, 5.91%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 14375  | 13205  | 12014  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806567.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 14972  | 13921  | 14066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806787.SRDSQ, 5.35%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 4102  | 3798  | 3887  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806872.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 3115  | 2897  | 2944  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806922.SRDSQ, 6.44%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 3414  | 3113  | 3049  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8806968.SRDSQ, 5.63%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 15056  | 13884  | 14467  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807405.SRDSQ, 4.73%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2435  | 2274  | 2286  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807451.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 12363  | 11546  | 11607  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807706.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 3891  | 3634  | 3661  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807780.SRDSQ, 6.45%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 5275  | 4810  | 4922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807896.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1273  | 1184  | 1210  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8807926.SRDSQ, 6.45%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 16920  | 15429  | 15781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808156.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2938  | 2744  | 2759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808256.SRDSQ, 6.29%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1036  | 947  | 742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808274.SRDSQ, 4.94%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 996  | 927  | 962  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808325.SRDSQ, 5.60%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 13946  | 12866  | 13094  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808569.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 21673  | 20241  | 19559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808776.SRDSQ, 4.73%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2350  | 2194  | 2218  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808854.SRDSQ, 5.60%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 9334  | 8611  | 8809  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808914.SRDSQ, 5.60%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2447  | 2258  | 2313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808962.SRDSQ, 5.35%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1772  | 1641  | 1613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8808968.SRDSQ, 6.10%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 12318  | 11285  | 11390  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809095.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 12673  | 11783  | 11907  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809251.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 3966  | 3688  | 3726  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809310.SRDSQ, 5.63%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2271  | 2094  | 1958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809333.SRDSQ, 5.03%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 27767  | 25819  | 26382  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809744.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 6843  | 6391  | 6425  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809823.SRDSQ, 5.64%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 595  | 548  | 574  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809861.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 961  | 897  | 904  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809870.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 9476  | 8850  | 8916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809936.SRDSQ, 6.29%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 8370  | 7648  | 7949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8809993.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 32409  | 30267  | 30589  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810329.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 2276  | 2126  | 2145  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810338.SRDSQ, 6.46%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 1640  | 1496  | 1525  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **202** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810348.SRDSQ, 6.45%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | $3257  | $2969  | $3037  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810355.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 6342  | 5922  | 5967  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810407.SRDSQ, 4.72%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 12111  | 11310  | 11441  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810550.SRDSQ, 5.60%, 9/6/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/10/2025 | 44526  | 41077  | 41827  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810680.SRDSQ, 4.71%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 5269  | 4921  | 4964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8810829.SRDSQ, 5.91%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 19526  | 17935  | 16333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811106.SRDSQ, 5.03%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 2961  | 2753  | 2813  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811174.SRDSQ, 6.28%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 952  | 870  | 892  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811195.SRDSQ, 6.45%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 4344  | 3961  | 3949  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811313.SRDSQ, 5.35%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 8080  | 7480  | 7645  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811507.SRDSQ, 5.62%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 1377  | 1270  | 1277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811535.SRDSQ, 4.72%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 13825  | 12912  | 13057  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811880.SRDSQ, 6.29%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 6176  | 5644  | 4455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8811987.SRDSQ, 4.71%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 4669  | 4361  | 4410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8812086.SRDSQ, 4.72%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 4335  | 4049  | 4078  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8812153.SRDSQ, 5.35%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 29461  | 27274  | 27561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8812853.SRDSQ, 5.35%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 20683  | 19147  | 19348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8813033.SRDSQ, 5.62%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 1398  | 1289  | 1296  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8813057.SRDSQ, 4.72%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 66966  | 62540  | 63197  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8813636.SRDSQ, 5.03%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 24976  | 23223  | 21976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8813901.SRDSQ, 6.44%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 4014  | 3661  | 3805  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8813979.SRDSQ, 5.91%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 9947  | 9136  | 8947  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814143.SRDSQ, 4.91%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 325  | 303  | 310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814156.SRDSQ, 5.03%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 15234  | 14165  | 14217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814298.SRDSQ, 5.04%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 2980  | 2771  | 2816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814321.SRDSQ, 4.71%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 5428  | 5069  | 5126  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814361.SRDSQ, 4.72%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 11314  | 10566  | 10659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814490.SRDSQ, 4.72%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/11/2025 | 12906  | 12053  | 12204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814697.SRDSQ, 6.45%, 9/7/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1471  | 1341  | 1368  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814730.SRDSQ, 4.72%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 15232  | 14225  | 14297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814811.SRDSQ, 5.35%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 11197  | 10365  | 10593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814880.SRDSQ, 4.72%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 13916  | 12996  | 13062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8814976.SRDSQ, 5.63%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5413  | 4991  | 4902  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815006.SRDSQ, 5.35%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5858  | 5423  | 5548  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815087.SRDSQ, 5.03%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 16607  | 15442  | 15649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815200.SRDSQ, 5.03%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 7787  | 7240  | 7193  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815263.SRDSQ, 5.34%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 3113  | 2882  | 2932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815279.SRDSQ, 5.03%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 9474  | 8809  | 8927  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815333.SRDSQ, 4.72%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 3376  | 3154  | 3192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815352.SRDSQ, 6.45%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4924  | 4489  | 4616  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815394.SRDSQ, 4.72%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 16702  | 15598  | 15759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815519.SRDSQ, 5.35%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 3171  | 2936  | 2954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815538.SRDSQ, 5.91%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5013  | 4605  | 4724  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815590.SRDSQ, 5.59%, 9/8/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 3131  | 2889  | 2954  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815629.SRDSQ, 6.45%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2543  | 2319  | 2408  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815664.SRDSQ, 4.72%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 13060  | 12196  | 12313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815773.SRDSQ, 5.34%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 6587  | 6098  | 6137  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815813.SRDSQ, 5.60%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 16810  | 15507  | 15316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815913.SRDSQ, 5.03%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4775  | 4440  | 4499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815940.SRDSQ, 6.46%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1552  | 1414  | 1482  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815958.SRDSQ, 4.71%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4542  | 4242  | 4264  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8815991.SRDSQ, 6.29%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2406  | 2198  | 2089  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **203** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816002.SRDSQ, 5.63%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | $3106  | $2864  | $3001  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816040.SRDSQ, 6.45%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 3117  | 2842  | 2895  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816061.SRDSQ, 5.60%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 12839  | 11845  | 11943  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816143.SRDSQ, 6.45%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4715  | 4299  | 4418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816174.SRDSQ, 4.90%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 664  | 618  | 627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816178.SRDSQ, 5.03%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 18232  | 16953  | 17120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816290.SRDSQ, 5.03%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1966  | 1828  | 1842  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816299.SRDSQ, 6.10%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4503  | 4126  | 4048  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8816331.SRDSQ, 6.45%, 9/9/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 17779  | 16211  | 16866  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8817206.SRDSQ, 5.60%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4783  | 4413  | 4438  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8817297.SRDSQ, 6.11%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4815  | 4411  | 4481  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8817397.SRDSQ, 5.59%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1848  | 1705  | 1696  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8817428.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 8330  | 7780  | 7860  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8817664.SRDSQ, 5.60%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 27732  | 25584  | 25462  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818061.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 7455  | 6931  | 6884  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818159.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 42560  | 39747  | 40125  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818633.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1705  | 1593  | 1608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818656.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5363  | 5009  | 5056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818701.SRDSQ, 5.59%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2549  | 2351  | 2365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818726.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 6039  | 5640  | 5648  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8818824.SRDSQ, 5.63%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 35015  | 32289  | 32928  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8819262.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 22317  | 20842  | 21067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8819516.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 14250  | 13308  | 13436  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8819657.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 6932  | 6445  | 6115  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8819715.SRDSQ, 4.71%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 6015  | 5618  | 5664  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8819781.SRDSQ, 5.35%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 48206  | 44628  | 45066  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820157.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2903  | 2699  | 2561  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820189.SRDSQ, 6.43%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1263  | 1152  | 689  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820214.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 17599  | 16436  | 16461  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820317.SRDSQ, 6.45%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2874  | 2621  | 2702  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820346.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2607  | 2424  | 2407  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820355.SRDSQ, 5.62%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 1520  | 1401  | 1074  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820367.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 16312  | 15168  | 15313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820597.SRDSQ, 6.12%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 752  | 689  | 715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820604.SRDSQ, 6.44%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 2122  | 1936  | 2009  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820617.SRDSQ, 4.71%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 5927  | 5536  | 5594  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820671.SRDSQ, 5.03%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 11634  | 10818  | 10742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820729.SRDSQ, 4.72%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 31192  | 29131  | 29409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8820995.SRDSQ, 4.94%, 9/10/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/12/2025 | 4117  | 3833  | 2030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821283.SRDSQ, 6.10%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 2537  | 2324  | 2375  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821315.SRDSQ, 5.92%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 6902  | 6340  | 6508  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821475.SRDSQ, 5.35%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 1200  | 1111  | 1135  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821520.SRDSQ, 6.45%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 9556  | 8713  | 8925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821729.SRDSQ, 6.45%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 680  | 621  | 636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821753.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4120  | 3831  | 3881  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8821847.SRDSQ, 5.60%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 8179  | 7546  | 7711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822076.SRDSQ, 4.71%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4344  | 4058  | 4101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822217.SRDSQ, 5.60%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 5510  | 5083  | 5195  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822394.SRDSQ, 6.46%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 3256  | 2968  | 2849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822439.SRDSQ, 5.60%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 6465  | 5964  | 6015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822571.SRDSQ, 5.34%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 2374  | 2198  | 2199  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8822655.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 39421  | 36655  | 36999  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **204** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823133.SRDSQ, 6.45%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | $8767  | $7994  | $8242  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823293.SRDSQ, 5.35%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 30630  | 28356  | 28812  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823658.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 5837  | 5428  | 5148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823698.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 12254  | 11394  | 11313  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823764.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4571  | 4251  | 4341  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823793.SRDSQ, 6.45%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 16677  | 15207  | 15677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823878.SRDSQ, 4.72%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 6053  | 5653  | 5711  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8823996.SRDSQ, 4.72%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 4941  | 4615  | 4652  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824055.SRDSQ, 5.60%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 1815  | 1675  | 1533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824088.SRDSQ, 4.72%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 10787  | 10074  | 10148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824217.SRDSQ, 5.63%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 1084  | 999  | 1047  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824259.SRDSQ, 5.60%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 60984  | 56260  | 57174  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824751.SRDSQ, 6.10%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 6428  | 5889  | 6105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824867.SRDSQ, 5.03%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 8172  | 7598  | 7734  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824903.SRDSQ, 6.28%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 1718  | 1570  | 1610  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8824907.SRDSQ, 6.10%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 51378  | 47071  | 48095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8825612.SRDSQ, 6.10%, 9/11/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2025 | 13110  | 12011  | 12253  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8825707.SRDSQ, 4.71%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 1704  | 1592  | 1605  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8825785.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 29965  | 27985  | 28187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8826308.SRDSQ, 6.29%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 14964  | 13674  | 14330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8826954.SRDSQ, 5.03%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 8235  | 7657  | 7713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827058.SRDSQ, 4.95%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 2381  | 2217  | 2006  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827095.SRDSQ, 5.35%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 7449  | 6896  | 7006  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827181.SRDSQ, 5.60%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 8118  | 7489  | 7608  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827284.SRDSQ, 6.44%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 6748  | 6153  | 6217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827342.SRDSQ, 5.03%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 1125  | 1046  | 1062  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827351.SRDSQ, 5.91%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 6343  | 5826  | 5331  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827384.SRDSQ, 5.62%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 518  | 478  | 499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8827388.SRDSQ, 5.35%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 24554  | 22731  | 23096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828161.SRDSQ, 6.10%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 2691  | 2465  | 2519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828187.SRDSQ, 5.03%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 4050  | 3766  | 3794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828254.SRDSQ, 6.45%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 14259  | 13001  | 12930  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828383.SRDSQ, 5.04%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 1292  | 1201  | 1226  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828400.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 1961  | 1832  | 1847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8828430.SRDSQ, 5.35%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 10483  | 9704  | 9765  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8829044.SRDSQ, 5.60%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 14964  | 13805  | 14133  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8829307.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 15914  | 14862  | 15012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8829482.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 63252  | 59072  | 59527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8829958.SRDSQ, 4.73%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 2902  | 2710  | 2713  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8829973.SRDSQ, 5.03%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 18565  | 17262  | 16389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8830097.SRDSQ, 6.11%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 2351  | 2153  | 2186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8830118.SRDSQ, 5.91%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 8130  | 7468  | 7666  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8830160.SRDSQ, 4.94%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 1590  | 1481  | 1488  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8830169.SRDSQ, 6.10%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 8864  | 8121  | 8363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8830289.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/14/2025 | 16525  | 15433  | 15506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8834391.SRDSQ, 4.72%, 9/12/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 19578  | 18284  | 18417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8834955.SRDSQ, 5.35%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 36103  | 33423  | 33979  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8835606.SRDSQ, 6.10%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 9209  | 8437  | 8560  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8835693.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 3917  | 3658  | 3693  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8835752.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 26775  | 25006  | 25246  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8836110.SRDSQ, 6.46%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 1191  | 1085  | 1113  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8836138.SRDSQ, 5.60%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 21955  | 20254  | 20372  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **205** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8836438.SRDSQ, 6.44%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | $1500  | $1368  | $1411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8836467.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 44600  | 41653  | 41833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8836957.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 7573  | 7072  | 7140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837029.SRDSQ, 5.35%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 48785  | 45163  | 45553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837541.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 4117  | 3845  | 3862  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837559.SRDSQ, 5.03%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 21699  | 20177  | 20519  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837813.SRDSQ, 4.71%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 4435  | 4142  | 4178  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837880.SRDSQ, 6.09%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 1481  | 1357  | 1383  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837903.SRDSQ, 6.45%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 348  | 317  | 326  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837917.SRDSQ, 5.60%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 7877  | 7267  | 7179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8837995.SRDSQ, 5.91%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 6866  | 6307  | 6458  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838057.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 8838  | 8254  | 8333  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838124.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 4960  | 4632  | 4672  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838190.SRDSQ, 6.10%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 5253  | 4813  | 4330  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838251.SRDSQ, 4.71%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 6489  | 6061  | 6114  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838320.SRDSQ, 6.30%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 2799  | 2557  | 2593  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838400.SRDSQ, 5.91%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 18093  | 16619  | 16786  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838586.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 5937  | 5544  | 5584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838649.SRDSQ, 4.93%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 1641  | 1528  | 1536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838686.SRDSQ, 5.91%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 29493  | 27090  | 27442  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838954.SRDSQ, 4.72%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 7103  | 6634  | 6663  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8838990.SRDSQ, 6.45%, 9/13/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/17/2025 | 56490  | 51509  | 52501  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839452.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 1891  | 1758  | 1784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839505.SRDSQ, 6.47%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 1552  | 1415  | 1386  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839516.SRDSQ, 6.45%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 10705  | 9761  | 9687  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839608.SRDSQ, 5.60%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 17750  | 16375  | 16510  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839804.SRDSQ, 5.35%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7507  | 6949  | 6989  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8839898.SRDSQ, 4.71%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 4315  | 4030  | 4064  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840004.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7165  | 6691  | 6696  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840087.SRDSQ, 6.45%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 11179  | 10193  | 10450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840263.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 6147  | 5740  | 5728  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840333.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9205  | 8596  | 8669  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840481.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 10825  | 10065  | 9568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840601.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 8539  | 7940  | 8056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840698.SRDSQ, 6.10%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7120  | 6523  | 6391  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840776.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9627  | 8991  | 8710  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8840888.SRDSQ, 5.60%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 4473  | 4126  | 4236  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841116.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 6698  | 6255  | 6241  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841154.SRDSQ, 6.10%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 9051  | 8292  | 8410  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841416.SRDSQ, 5.60%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 11194  | 10327  | 10480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841504.SRDSQ, 5.92%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 3338  | 3066  | 3087  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841522.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 27786  | 25950  | 26202  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841684.SRDSQ, 5.60%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 30167  | 27830  | 27625  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8841830.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 23516  | 21866  | 22008  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842002.SRDSQ, 6.46%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 907  | 826  | 852  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842013.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7284  | 6802  | 6869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842051.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 8728  | 8115  | 8168  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842123.SRDSQ, 5.64%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 1302  | 1200  | 1241  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842127.SRDSQ, 6.10%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 7200  | 6596  | 6690  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842167.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 29891  | 27916  | 28096  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842398.SRDSQ, 4.93%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 2219  | 2066  | 2026  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842414.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 18477  | 17180  | 17329  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **206** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8842571.SRDSQ, 5.60%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | $73721  | $68010  | $68372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843340.SRDSQ, 6.45%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 10060  | 9173  | 9499  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843494.SRDSQ, 6.10%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 10790  | 9885  | 10077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843606.SRDSQ, 5.03%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 12911  | 12005  | 11912  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843674.SRDSQ, 4.72%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 12795  | 11950  | 12036  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843876.SRDSQ, 4.73%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 2162  | 2018  | 2032  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8843910.SRDSQ, 5.35%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 49649  | 45963  | 45144  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844126.SRDSQ, 5.35%, 9/14/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/18/2025 | 2155  | 1995  | 2025  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844173.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4197  | 3919  | 3947  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844193.SRDSQ, 5.03%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 603  | 561  | 573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844205.SRDSQ, 5.60%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 25533  | 23555  | 23674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844329.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6707  | 6263  | 6308  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844364.SRDSQ, 6.10%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1930  | 1768  | 1793  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844378.SRDSQ, 6.45%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6191  | 5645  | 5783  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844417.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 20045  | 18721  | 18854  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844536.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14733  | 13760  | 13876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844619.SRDSQ, 4.71%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2573  | 2403  | 2418  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844638.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 39770  | 37141  | 37165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8844834.SRDSQ, 6.45%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 30657  | 27953  | 28225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845010.SRDSQ, 6.45%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3259  | 2971  | 3021  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845029.SRDSQ, 5.03%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6801  | 6324  | 6398  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845080.SRDSQ, 6.45%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 8919  | 8133  | 8217  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845130.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5074  | 4739  | 4742  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845164.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 15755  | 14714  | 14807  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845230.SRDSQ, 5.90%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2369  | 2176  | 2202  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845242.SRDSQ, 5.87%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 535  | 492  | 498  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845247.SRDSQ, 5.34%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9066  | 8393  | 7714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845302.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 15056  | 14061  | 14177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845392.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 21860  | 20416  | 19784  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845525.SRDSQ, 5.35%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 7262  | 6723  | 6759  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845588.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 13490  | 12598  | 12649  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845660.SRDSQ, 5.60%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6985  | 6443  | 5932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845687.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4224  | 3945  | 3982  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845711.SRDSQ, 5.91%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1952  | 1793  | 1816  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845723.SRDSQ, 6.43%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1219  | 1111  | 905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845733.SRDSQ, 6.10%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 19754  | 18097  | 18225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845856.SRDSQ, 4.72%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5016  | 4685  | 4714  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845904.SRDSQ, 5.91%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5542  | 5090  | 4662  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845935.SRDSQ, 5.03%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9546  | 8876  | 8890  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845985.SRDSQ, 6.45%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 873  | 796  | 818  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8845991.SRDSQ, 5.03%, 9/15/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 34766  | 32327  | 32857  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846183.SRDSQ, 4.93%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1701  | 1584  | 1555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846200.SRDSQ, 6.45%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5993  | 5464  | 4825  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846244.SRDSQ, 6.28%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3186  | 2912  | 2381  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846261.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4564  | 4263  | 4297  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846283.SRDSQ, 6.46%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 178  | 162  | 169  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846293.SRDSQ, 6.10%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3545  | 3248  | 2935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846316.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 8013  | 7484  | 7545  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846369.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 31814  | 29711  | 29922  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846545.SRDSQ, 5.91%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4388  | 4030  | 4030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846577.SRDSQ, 4.93%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 620  | 577  | 591  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846590.SRDSQ, 4.93%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2572  | 2395  | 2429  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **207** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846617.SRDSQ, 5.34%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | $2416  | $2237  | $2273  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846627.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 11699  | 10925  | 10968  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846694.SRDSQ, 6.11%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3148  | 2884  | 2966  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846717.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 14901  | 13916  | 14015  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846826.SRDSQ, 6.45%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 12225  | 11147  | 11540  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846905.SRDSQ, 5.34%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2226  | 2061  | 1897  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846921.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 5530  | 5165  | 5196  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846947.SRDSQ, 6.44%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 1513  | 1380  | 1428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8846965.SRDSQ, 4.72%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 11319  | 10571  | 10613  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8847038.SRDSQ, 5.61%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2813  | 2595  | 2633  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8847058.SRDSQ, 5.92%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2905  | 2668  | 2730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8847077.SRDSQ, 5.35%, 9/16/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 39204  | 36294  | 36596  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8848174.SRDSQ, 5.03%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6990  | 6499  | 6539  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8848219.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 9683  | 9043  | 9051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8848435.SRDSQ, 5.35%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 39594  | 36655  | 36964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849104.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4299  | 4015  | 4052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849159.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 7399  | 6910  | 6916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849245.SRDSQ, 5.92%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 2576  | 2366  | 2395  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849266.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4572  | 4269  | 4309  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849354.SRDSQ, 5.60%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 4516  | 4166  | 4225  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849383.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 6283  | 5868  | 5935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849410.SRDSQ, 4.72%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 8331  | 7780  | 7844  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849459.SRDSQ, 5.34%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 3370  | 3120  | 3187  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8849613.SRDSQ, 5.66%, 9/17/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/19/2025 | 691  | 637  | 665  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8852824.SRDSQ, 6.45%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 1938  | 1767  | 1570  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8852893.SRDSQ, 6.09%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3169  | 2903  | 2965  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8852912.SRDSQ, 5.03%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 2946  | 2739  | 2795  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8852992.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 8535  | 7971  | 8020  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853104.SRDSQ, 4.71%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3467  | 3238  | 3267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853155.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 11197  | 10457  | 10541  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853242.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 37341  | 34873  | 35119  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853518.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 8571  | 8004  | 8079  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853637.SRDSQ, 5.35%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 19122  | 17702  | 17994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8853957.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 21326  | 19917  | 20141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8854207.SRDSQ, 5.35%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3231  | 2991  | 3040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8854246.SRDSQ, 5.03%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 83569  | 77704  | 78592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8855650.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 30334  | 28330  | 28440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856006.SRDSQ, 5.03%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 2648  | 2462  | 2465  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856044.SRDSQ, 5.58%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 1888  | 1742  | 1769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856070.SRDSQ, 5.35%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 28673  | 26544  | 26945  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856311.SRDSQ, 4.93%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3684  | 3430  | 3450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856346.SRDSQ, 4.71%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 3920  | 3662  | 3683  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856410.SRDSQ, 6.45%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 56056  | 51114  | 52310  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856809.SRDSQ, 4.71%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 5504  | 5141  | 5177  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8856890.SRDSQ, 6.29%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 17666  | 16143  | 16555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857117.SRDSQ, 6.10%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 7469  | 6843  | 6867  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857210.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 19978  | 18657  | 18769  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857421.SRDSQ, 6.45%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 11615  | 10591  | 10874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857510.SRDSQ, 6.45%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 8936  | 8148  | 8253  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857576.SRDSQ, 4.72%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2025 | 11664  | 10893  | 10970  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857741.SRDSQ, 4.73%, 9/18/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3402  | 3177  | 3206  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8857880.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 9873  | 9220  | 9293  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **208** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858047.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | $10206  | $9531  | $9568  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858134.SRDSQ, 5.03%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 10241  | 9522  | 9455  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858251.SRDSQ, 4.71%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2847  | 2660  | 2684  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858306.SRDSQ, 5.60%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3783  | 3490  | 3506  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858373.SRDSQ, 6.09%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 4139  | 3792  | 3864  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858414.SRDSQ, 5.60%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 33192  | 30621  | 31044  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8858736.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 30239  | 28241  | 28406  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8859031.SRDSQ, 5.03%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 15148  | 14085  | 14169  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8859155.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 63033  | 58867  | 59334  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8859734.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 15590  | 14560  | 14692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860279.SRDSQ, 6.10%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 1671  | 1531  | 1584  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860299.SRDSQ, 5.03%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 29429  | 27364  | 27674  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860629.SRDSQ, 4.73%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3126  | 2919  | 2939  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860663.SRDSQ, 5.03%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2934  | 2728  | 2765  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860702.SRDSQ, 5.60%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 15345  | 14156  | 14282  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860827.SRDSQ, 5.91%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 7809  | 7173  | 7357  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8860898.SRDSQ, 5.60%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 69517  | 64132  | 65351  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861479.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 22404  | 20923  | 20317  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861631.SRDSQ, 6.45%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 10213  | 9312  | 9531  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861736.SRDSQ, 6.11%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2454  | 2248  | 2262  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861763.SRDSQ, 5.35%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 4833  | 4474  | 4140  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861785.SRDSQ, 4.92%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 1439  | 1340  | 1359  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861793.SRDSQ, 6.45%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 4267  | 3891  | 4065  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861841.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3846  | 3592  | 3626  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861885.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 15217  | 14211  | 14311  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8861990.SRDSQ, 4.71%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 7764  | 7251  | 7302  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862050.SRDSQ, 5.91%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 10589  | 9726  | 9924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862124.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 12273  | 11462  | 11553  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862203.SRDSQ, 5.03%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2605  | 2422  | 2460  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862227.SRDSQ, 4.72%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 3662  | 3420  | 3451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862252.SRDSQ, 6.46%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2802  | 2555  | 2615  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8862284.SRDSQ, 6.46%, 9/19/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/21/2025 | 2619  | 2388  | 2451  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8864960.SRDSQ, 6.44%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 5438  | 4959  | 4927  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865022.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3902  | 3644  | 3646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865085.SRDSQ, 6.11%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 2692  | 2466  | 2511  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865097.SRDSQ, 6.46%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 2956  | 2695  | 2722  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865123.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 6494  | 6064  | 6086  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865213.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 9922  | 9047  | 9216  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865447.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 23288  | 21484  | 21879  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865752.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 4272  | 3989  | 3876  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865825.SRDSQ, 6.44%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 1722  | 1571  | 1401  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865882.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3655  | 3383  | 3402  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865922.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3762  | 3470  | 3516  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865945.SRDSQ, 4.71%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3169  | 2959  | 2976  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865962.SRDSQ, 6.09%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 2263  | 2074  | 2086  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8865982.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 9205  | 8393  | 8340  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866113.SRDSQ, 4.71%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 5948  | 5555  | 5558  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866174.SRDSQ, 5.59%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3971  | 3664  | 3712  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866211.SRDSQ, 5.03%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 14690  | 13659  | 13562  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866360.SRDSQ, 5.03%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 9200  | 8554  | 8559  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866439.SRDSQ, 6.29%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 15008  | 13714  | 14194  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866572.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 35633  | 33278  | 33459  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **209** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866858.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | $11372  | $10369  | $10473  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8866993.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 20464  | 18879  | 18961  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867266.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 16300  | 14863  | 15046  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867456.SRDSQ, 5.03%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 16766  | 15590  | 15677  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867549.SRDSQ, 6.30%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 1540  | 1407  | 1480  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867561.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 3647  | 3364  | 3394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867585.SRDSQ, 6.28%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 4853  | 4435  | 4476  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867628.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 2421  | 2261  | 2274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867649.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 9635  | 8889  | 8833  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867697.SRDSQ, 6.10%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 1277  | 1170  | 1186  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867705.SRDSQ, 5.03%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 15952  | 14832  | 14994  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867810.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 5259  | 4868  | 4959  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867830.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 11059  | 10237  | 10294  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867893.SRDSQ, 5.34%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 9486  | 8782  | 8924  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8867978.SRDSQ, 6.44%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 7965  | 7263  | 7347  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8868020.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 5052  | 4606  | 4781  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8868066.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/24/2025 | 17614  | 16306  | 16289  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869200.SRDSQ, 5.03%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 8850  | 8229  | 8318  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869240.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 13492  | 12490  | 12723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869289.SRDSQ, 4.97%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 575  | 535  | 536  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869291.SRDSQ, 5.60%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4977  | 4591  | 3802  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869309.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 47497  | 44358  | 44374  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869487.SRDSQ, 5.35%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2709  | 2508  | 2554  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869499.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 25566  | 23876  | 23885  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869547.SRDSQ, 6.10%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 8436  | 7728  | 7869  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869576.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5860  | 5343  | 5440  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869599.SRDSQ, 4.71%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4890  | 4567  | 4606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869618.SRDSQ, 6.45%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 30089  | 27436  | 28090  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869716.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2393  | 2235  | 2171  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869727.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 9292  | 8678  | 8681  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8869753.SRDSQ, 4.72%, 9/20/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 59778  | 55827  | 56198  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870419.SRDSQ, 6.48%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1011  | 922  | 939  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870438.SRDSQ, 5.35%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 7848  | 7265  | 7306  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870491.SRDSQ, 5.91%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4062  | 3731  | 3762  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870532.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 8176  | 7491  | 6850  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870649.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5874  | 5382  | 5493  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870741.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3018  | 2818  | 2838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870814.SRDSQ, 5.34%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5599  | 5184  | 5280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8870954.SRDSQ, 4.71%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4748  | 4434  | 4464  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871015.SRDSQ, 6.44%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1901  | 1734  | 1775  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871038.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5511  | 5147  | 5165  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871150.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 20405  | 18694  | 18958  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871349.SRDSQ, 4.71%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3844  | 3590  | 3603  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871382.SRDSQ, 4.92%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 480  | 447  | 447  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871388.SRDSQ, 5.59%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4321  | 3987  | 4004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871430.SRDSQ, 6.09%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2703  | 2477  | 2432  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871441.SRDSQ, 6.29%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2822  | 2578  | 2646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871470.SRDSQ, 6.45%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2748  | 2505  | 2617  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871518.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 14895  | 13646  | 13838  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871635.SRDSQ, 5.03%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 29309  | 27252  | 27607  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871910.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3701  | 3390  | 3483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871941.SRDSQ, 5.35%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1779  | 1647  | 1656  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **210** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8871952.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | $10009  | $9347  | $9411  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872073.SRDSQ, 6.09%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3299  | 3023  | 3105  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872108.SRDSQ, 6.45%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 12472  | 11372  | 11157  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872229.SRDSQ, 6.08%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1318  | 1208  | 1213  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872259.SRDSQ, 6.11%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1403  | 1285  | 1303  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872294.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5683  | 5307  | 5336  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872353.SRDSQ, 4.93%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2226  | 2072  | 2077  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872373.SRDSQ, 6.45%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 9580  | 8735  | 8900  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872490.SRDSQ, 5.35%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 10039  | 9294  | 9373  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872551.SRDSQ, 5.63%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1909  | 1760  | 1796  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872560.SRDSQ, 5.35%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 9039  | 8368  | 8504  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872648.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 31064  | 29012  | 29030  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8872859.SRDSQ, 6.10%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 40642  | 37234  | 37919  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873116.SRDSQ, 6.11%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2414  | 2212  | 2022  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873142.SRDSQ, 4.71%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3536  | 3303  | 3293  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873158.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5275  | 4927  | 4912  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873222.SRDSQ, 4.94%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2113  | 1967  | 1980  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873256.SRDSQ, 6.46%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2707  | 2468  | 2533  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873272.SRDSQ, 6.45%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 4745  | 4327  | 4427  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873306.SRDSQ, 4.93%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1002  | 933  | 934  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873313.SRDSQ, 5.59%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5088  | 4694  | 4715  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873348.SRDSQ, 6.11%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 2195  | 2011  | 2052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873369.SRDSQ, 5.61%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 1701  | 1569  | 1601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873402.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 27112  | 25321  | 25509  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873691.SRDSQ, 4.72%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 5246  | 4899  | 4925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8873773.SRDSQ, 6.45%, 9/21/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/25/2025 | 3953  | 3604  | 3662  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875165.SRDSQ, 5.03%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 25568  | 23774  | 23964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875320.SRDSQ, 5.03%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 4310  | 4007  | 4073  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875343.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3153  | 2944  | 2970  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875352.SRDSQ, 6.26%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 747  | 683  | 700  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875356.SRDSQ, 5.60%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 7889  | 7278  | 7184  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875386.SRDSQ, 6.27%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 213  | 194  | 204  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875390.SRDSQ, 6.10%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 5275  | 4832  | 4964  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875422.SRDSQ, 6.45%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2251  | 2052  | 2130  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875443.SRDSQ, 6.44%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3223  | 2939  | 3024  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875459.SRDSQ, 5.91%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 5148  | 4728  | 4730  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875490.SRDSQ, 6.46%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1472  | 1342  | 1364  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875498.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3172  | 2962  | 2977  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875520.SRDSQ, 4.71%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2254  | 2105  | 2107  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875529.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 10507  | 9813  | 9820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875578.SRDSQ, 5.36%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2515  | 2328  | 2348  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875597.SRDSQ, 6.45%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 9110  | 8307  | 8527  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875654.SRDSQ, 4.71%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 5513  | 5149  | 5176  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875697.SRDSQ, 4.97%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 760  | 707  | 698  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875700.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 9716  | 9074  | 9122  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875748.SRDSQ, 5.60%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 4299  | 3966  | 3946  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875778.SRDSQ, 5.91%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 21484  | 19734  | 19903  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875903.SRDSQ, 6.11%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1338  | 1226  | 1267  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875914.SRDSQ, 5.03%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 6149  | 5718  | 5750  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8875945.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 23414  | 21867  | 21287  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876090.SRDSQ, 4.72%, 9/22/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 6215  | 5805  | 5826  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876128.SRDSQ, 6.10%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 13252  | 12141  | 12396  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **211** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876222.SRDSQ, 6.29%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | $4897  | $4475  | $4316  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876248.SRDSQ, 5.03%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2877  | 2675  | 2704  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876264.SRDSQ, 5.91%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 13376  | 12286  | 12592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876354.SRDSQ, 5.35%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 11850  | 10970  | 10971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876403.SRDSQ, 4.74%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1464  | 1367  | 1379  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876413.SRDSQ, 4.72%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 8664  | 8091  | 8148  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876448.SRDSQ, 5.34%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2793  | 2586  | 2624  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876472.SRDSQ, 5.60%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2812  | 2594  | 2606  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876496.SRDSQ, 6.29%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 6061  | 5538  | 5630  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876521.SRDSQ, 6.46%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1853  | 1690  | 1754  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876533.SRDSQ, 4.72%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 4562  | 4260  | 4291  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876557.SRDSQ, 4.93%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1976  | 1840  | 1845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876573.SRDSQ, 5.03%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 5185  | 4821  | 4849  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876601.SRDSQ, 6.31%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1258  | 1150  | 1109  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876605.SRDSQ, 5.60%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 4660  | 4298  | 4280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876628.SRDSQ, 6.48%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 848  | 772  | 799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876635.SRDSQ, 5.03%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 8095  | 7527  | 7638  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876684.SRDSQ, 6.46%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1761  | 1605  | 1602  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876699.SRDSQ, 4.71%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2438  | 2277  | 2280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876708.SRDSQ, 5.03%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 15583  | 14490  | 14573  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876801.SRDSQ, 6.30%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 559  | 511  | 537  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876805.SRDSQ, 6.10%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3874  | 3549  | 3601  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876820.SRDSQ, 6.28%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1421  | 1298  | 1365  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876835.SRDSQ, 6.45%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 7622  | 6950  | 6280  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876883.SRDSQ, 5.90%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3284  | 3017  | 3054  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8876898.SRDSQ, 5.03%, 9/23/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 36206  | 33665  | 33858  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8877289.SRDSQ, 6.45%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3706  | 3379  | 3417  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8877317.SRDSQ, 4.72%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 7309  | 6826  | 6863  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8877422.SRDSQ, 4.72%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 33496  | 31283  | 31518  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878203.SRDSQ, 5.91%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2802  | 2574  | 2618  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878239.SRDSQ, 6.29%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 2734  | 2499  | 2627  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878305.SRDSQ, 6.45%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3568  | 3253  | 3307  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878369.SRDSQ, 6.46%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 3218  | 2934  | 2843  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878406.SRDSQ, 4.72%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 18739  | 17501  | 17524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878575.SRDSQ, 4.72%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 12090  | 11291  | 11016  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8878694.SRDSQ, 5.91%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 20489  | 18820  | 19095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8879147.SRDSQ, 6.43%, 9/24/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/26/2025 | 1133  | 1034  | 1046  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881062.SRDSQ, 6.11%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2259  | 2069  | 2101  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881139.SRDSQ, 5.35%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 421  | 389  | 384  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881146.SRDSQ, 6.45%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 13041  | 11891  | 10847  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881195.SRDSQ, 5.60%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2183  | 2014  | 1899  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881204.SRDSQ, 5.91%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 9328  | 8568  | 8587  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881240.SRDSQ, 5.03%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 14364  | 13356  | 12179  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881294.SRDSQ, 6.45%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1140  | 1040  | 948  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881303.SRDSQ, 4.94%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1867  | 1738  | 1746  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881313.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 4502  | 4204  | 4241  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881338.SRDSQ, 6.11%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2288  | 2096  | 2141  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881347.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2098  | 1959  | 1955  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881357.SRDSQ, 6.47%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1214  | 1107  | 1120  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881361.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 3055  | 2854  | 2874  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881378.SRDSQ, 5.63%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 903  | 832  | 859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881383.SRDSQ, 5.35%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 4784  | 4428  | 4459  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **212** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881399.SRDSQ, 5.91%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | $12933  | $11879  | $12033  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881462.SRDSQ, 6.44%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 10804  | 9852  | 8478  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881513.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 8180  | 7640  | 7695  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881553.SRDSQ, 5.03%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 10147  | 9435  | 9394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881606.SRDSQ, 6.45%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 16178  | 14751  | 14935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881699.SRDSQ, 5.02%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1958  | 1821  | 1845  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881710.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 15033  | 14040  | 14118  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881798.SRDSQ, 5.60%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 8288  | 7646  | 7749  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881881.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2234  | 2087  | 2095  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8881921.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 11400  | 10647  | 10690  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882073.SRDSQ, 6.46%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2977  | 2714  | 2745  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882110.SRDSQ, 6.44%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 6019  | 5489  | 5577  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882189.SRDSQ, 6.44%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1063  | 969  | 967  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882227.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 17429  | 16278  | 16301  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882512.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 7560  | 7060  | 7089  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882663.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 14748  | 13773  | 13794  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882867.SRDSQ, 5.59%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 2544  | 2348  | 2361  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882895.SRDSQ, 5.91%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 5997  | 5508  | 5646  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8882970.SRDSQ, 6.11%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1258  | 1153  | 1192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883001.SRDSQ, 5.91%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 4523  | 4155  | 4086  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883061.SRDSQ, 6.10%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1644  | 1506  | 1538  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883068.SRDSQ, 5.60%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 4827  | 4453  | 4530  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883126.SRDSQ, 6.46%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 946  | 863  | 896  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883135.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 10607  | 9906  | 9981  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883247.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 14167  | 13231  | 13345  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883428.SRDSQ, 5.61%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1349  | 1245  | 1277  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883440.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 4059  | 3791  | 3820  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883491.SRDSQ, 5.60%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 7658  | 7065  | 7160  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883554.SRDSQ, 6.11%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 6801  | 6230  | 6274  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883615.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 23267  | 21729  | 21817  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8883854.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 79676  | 74411  | 74254  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884404.SRDSQ, 6.44%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 9415  | 8586  | 7389  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884440.SRDSQ, 5.03%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 22265  | 20703  | 20932  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884679.SRDSQ, 6.45%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 29755  | 27131  | 27819  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884903.SRDSQ, 4.72%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 3959  | 3697  | 3723  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884922.SRDSQ, 5.03%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 5331  | 4957  | 4935  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8884987.SRDSQ, 4.74%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1770  | 1653  | 1659  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8885015.SRDSQ, 4.71%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 7315  | 6832  | 6891  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8885116.SRDSQ, 5.62%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 1443  | 1331  | 1339  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8885167.SRDSQ, 6.46%, 9/25/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/27/2025 | 839  | 765  | 774  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8886324.SRDSQ, 4.71%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 6464  | 6037  | 5905  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8886382.SRDSQ, 5.35%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 3579  | 3313  | 3356  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8886406.SRDSQ, 5.03%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 100775  | 93703  | 94748  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887772.SRDSQ, 6.11%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1438  | 1317  | 1328  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887803.SRDSQ, 5.91%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 3576  | 3285  | 3324  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887833.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 5979  | 5584  | 5632  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887901.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 3146  | 2938  | 2960  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887929.SRDSQ, 4.95%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1037  | 965  | 992  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8887948.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 9817  | 9168  | 9235  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888085.SRDSQ, 5.91%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 5799  | 5327  | 5409  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888137.SRDSQ, 4.71%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 6681  | 6239  | 6285  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888188.SRDSQ, 5.60%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 8779  | 8099  | 8239  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **213** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888269.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | $8912  | $8323  | $8386  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888372.SRDSQ, 4.71%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 7610  | 7107  | 7147  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888455.SRDSQ, 6.28%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1116  | 1020  | 887  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888466.SRDSQ, 6.29%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1673  | 1529  | 1598  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888494.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 2046  | 1911  | 1925  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888511.SRDSQ, 6.44%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 951  | 867  | 752  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888522.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 19605  | 18309  | 18441  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888639.SRDSQ, 5.02%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1654  | 1538  | 1564  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888655.SRDSQ, 4.91%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 615  | 573  | 592  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888664.SRDSQ, 5.62%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1513  | 1396  | 1393  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8888675.SRDSQ, 5.03%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 10763  | 10008  | 9971  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889306.SRDSQ, 4.95%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 3027  | 2818  | 2834  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889346.SRDSQ, 5.03%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 3395  | 3157  | 3052  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889357.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 24292  | 22687  | 22192  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889594.SRDSQ, 6.29%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 13624  | 12450  | 13012  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889689.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 16264  | 15189  | 15320  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889866.SRDSQ, 4.73%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 2807  | 2621  | 2635  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889877.SRDSQ, 6.44%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 2004  | 1827  | 1851  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889894.SRDSQ, 5.59%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 2908  | 2691  | 2738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889905.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 8691  | 8116  | 8175  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8889969.SRDSQ, 4.94%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 5084  | 4733  | 4691  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890027.SRDSQ, 6.45%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 48271  | 44015  | 44567  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890394.SRDSQ, 6.45%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1108  | 1010  | 1051  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890401.SRDSQ, 6.11%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1165  | 1068  | 1104  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890429.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 8989  | 8394  | 8483  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890516.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 6534  | 6102  | 5969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890584.SRDSQ, 6.12%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 1470  | 1346  | 1372  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890586.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 26952  | 25171  | 25363  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890709.SRDSQ, 5.63%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 9284  | 8562  | 8201  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890760.SRDSQ, 4.72%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 24123  | 22529  | 22037  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890968.SRDSQ, 6.43%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 642  | 585  | 609  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8890993.SRDSQ, 5.59%, 9/26/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/28/2025 | 2627  | 2423  | 2474  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8893805.SRDSQ, 5.34%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 1491  | 1381  | 1394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8893823.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 15361  | 14346  | 14450  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894047.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4269  | 3987  | 3906  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894107.SRDSQ, 5.61%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 2402  | 2216  | 2241  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894133.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 10084  | 9418  | 9486  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894279.SRDSQ, 6.29%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4012  | 3666  | 3799  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894347.SRDSQ, 6.44%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 2078  | 1895  | 1921  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894391.SRDSQ, 4.93%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4057  | 3777  | 3815  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894456.SRDSQ, 6.28%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3589  | 3280  | 3349  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894516.SRDSQ, 6.08%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 1194  | 1094  | 1116  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894527.SRDSQ, 5.04%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3190  | 2966  | 3004  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894593.SRDSQ, 5.66%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 938  | 865  | 883  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894607.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 5791  | 5280  | 5428  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894707.SRDSQ, 5.90%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3694  | 3393  | 3435  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894734.SRDSQ, 5.04%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 2897  | 2693  | 2738  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894750.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 6413  | 5848  | 5916  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894823.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 6605  | 6023  | 6106  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894926.SRDSQ, 6.10%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 1826  | 1673  | 1654  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8894961.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 12978  | 12120  | 12209  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8895156.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 104309  | 97416  | 97851  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **214** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **PLATFORM** | **ORIGINAL**<br>**ACQUISITION DATE** | **PAR** | **COST** | **VALUE**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp; **United States - 1.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896015.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | $16172  | $14746  | $14735  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896160.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4657  | 4349  | 4394  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896208.SRDSQ, 5.04%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4314  | 4011  | 4056  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896251.SRDSQ, 6.10%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 4724  | 4328  | 4413  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896300.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 12718  | 11878  | 11636  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896435.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 8218  | 7675  | 7734  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896515.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 6389  | 5825  | 5927  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896567.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 12674  | 11836  | 11859  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896688.SRDSQ, 6.29%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 19360  | 17691  | 18063  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896815.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 8140  | 7422  | 7524  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896922.SRDSQ, 6.10%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 6590  | 6037  | 5969  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896967.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3773  | 3524  | 3555  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8896994.SRDSQ, 6.29%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 1152  | 1053  | 1067  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897003.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 60241  | 54930  | 56367  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897381.SRDSQ, 5.35%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3993  | 3697  | 3761  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897433.SRDSQ, 5.60%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 38169  | 35212  | 35692  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897701.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 16808  | 15697  | 15811  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897788.SRDSQ, 5.35%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 13017  | 12051  | 11424  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897892.SRDSQ, 4.93%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 87  | 81  | 84  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897901.SRDSQ, 6.45%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 7582  | 6913  | 6040  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897918.SRDSQ, 5.03%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 7819  | 7270  | 7249  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897948.SRDSQ, 6.44%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 2262  | 2063  | 2117  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897970.SRDSQ, 5.60%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 2029  | 1872  | 1911  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8897977.SRDSQ, 4.72%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 9796  | 9149  | 9219  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8898031.SRDSQ, 5.03%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 6922  | 6436  | 6452  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8898145.SRDSQ, 6.10%, 9/27/2026 (a)(r)(t)  | Square | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2025 | 3577  | 3277  | 3305  |
|  **Total Small Business Loans (Cost $21,534,545)** |  |  |  | **21534545**  | **20859980**  |
|  **Student Loans - 0.0% (j)**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **United States - 0.0% (j)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3283479.SRDUP, 17.33%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/25/2022 | 3729  | 3729  | 3797  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3291812.SRDUP, 17.77%, 7/22/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/27/2022 | 2792  | 2792  | 2845  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3300956.SRDUP, 22.06%, 12/27/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/1/2022 | 4345  | 4345  | 4445  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3321408.SRDUP, 15.62%, 8/4/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/9/2022 | 7440  | 7236  | 7554  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3324892.SRDUP, 17.55%, 8/5/2027 (a)(n)(r) | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/10/2022 | 689  | 676  | 700  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3382376.SRDUP, 16.97%, 9/1/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/7/2022 | 2466  | 2423  | 2502  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3385912.SRDUP, 14.81%, 9/2/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/8/2022 | 8602  | 8434  | 8736  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3487758.SRDUP, 16.74%, 10/13/2027 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/18/2022 | 2257  | 2217  | 2298  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3899746.SRDUP, 19.55%, 8/2/2026 (a)(r)  | Upstart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/7/2023 | 2373  | 2365  | 2366  |
|  **Total Student Loans (Cost $34,217)** |  |  |  | **34217**  | **35243**  |
|  **Total Whole Loans (Cost $83,053,735)** |  |  |  | **83053735**  | **76733107**  |
|  **TOTAL INVESTMENTS (Cost $1,565,265,529) - 94.8%** |  |  |  |  | **1578456409**  |
|  **OTHER ASSETS IN EXCESS OF LIABILITIES - 5.2%** |  |  |  |  | **86128633**  |
|  **TOTAL NET ASSETS - 100.0%** |  |  |  |  | **$1664585042** |

---

Principal amounts stated in U.S. dollars unless otherwise stated.

Percentages are stated as a percent of net assets.

CORRA - Canadian Overnight Repo Rate Average

SOFR - Secured Overnight Financing Rate

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **215** |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

CAD - Canadian Dollar

EUR - Euro

GBP - Great Britain Pound

NZD - New Zealand Dollar

&nbsp;&nbsp;&nbsp;&nbsp;(a) Security is fair valued by a third-party valuation
 specialist pursuant to procedures approved by the Board of Trustees. Value is determined using significant unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Security is restricted to resale to institutional
 investors. The aggregate value of these securities is $202,163,608, which represents 12.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Underlying holdings are consumer loans.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Underlying holdings are mortgages.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Country shown is geographic area of peril risk.

&nbsp;&nbsp;&nbsp;&nbsp;(f) 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 April 30, 2025 was $516,648,837, which represents 31.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Security is restricted as to resale.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Foreign issued security. Total foreign securities
 by country of domicile are $605,968,305. Foreign concentrations as a percentage of net assets are as follows: Bermuda: 32.0%, Supranational:
 1.1%, Cayman Islands: 1.0%, Singapore: 1.0%, Ireland: 0.7%, Great Britain: 0.5%, and Hong Kong: 0.1%.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Step coupon bond. The rate disclosed is as of April
 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Rounds to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Value determined using significant unobservable
 inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(l) Affiliated company. See Note 3.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Security is fair valued by the Adviser Valuation
 Committee using an insurance industry model pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities
 is $69,572,661, which represents 4.2% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(o) Rate shown is the 7-day effective yield.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Rate shown is the effective yield based on purchase
 price. The calculation assumes the security is held to maturity.

&nbsp;&nbsp;&nbsp;&nbsp;(q) All or a portion of this security is held as collateral
 for derivative contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(r) Security may be deemed restricted to resale to institutional
 investors. The aggregate value of these securities is $76,733,107 which represents 4.6% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(s) Delinquent or defaulted loans that have matured
 but are still in the repayment process. The aggregate value of these securities as of April 30, 2025 is $34,745, which represents 0.0%
 of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(t) Rate of return to the Fund is implied based on an
 18-month final maturity.

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **216** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

**Open Futures Contracts** 

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**VALUE** | **VALUE/**<br>**UNREALIZED** <br>**APPRECIATION** <br>(DEPRECIATION)  |
|  **FUTURES CONTRACTS SOLD**<br>|  |  |  |
|  10-Year US Treasury Note Future, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180 | $(20199375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(304017)  |
|  Brent Crude Future, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 674 | (41154440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355481  |
|  Coffee 'C', September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | (12833044) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1132581)  |
|  Copper, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | (8641875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191788  |
|  Copper, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311 | (36208175) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54813  |
|  Corn Future, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 | (15185750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168660  |
|  DAX Index, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | (43533697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 728968  |
|  E-Mini Nasdaq 100, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | (9436080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (447426)  |
|  E-Mini Russ 2000, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | (6401850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81267)  |
|  E-Mini S&P 500 Index, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | (26258900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (820030)  |
|  FTSE China A50 Index Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1881 | (24543288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371038  |
|  FTSE/JSE Top 40 Index Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 919 | (42063657) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1173761)  |
|  FTSE MIB Index Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | (9236845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310955  |
|  FTSE Taiwan Index Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | (1487200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15273)  |
|  Gold 100 Oz. Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 | (29697360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2003429)  |
|  Hang Seng Index Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168 | (23921089) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49440)  |
|  IBEX 35 Index, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | (9454460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (358434)  |
|  Lean Hogs Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490 | (16091600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1567986)  |
|  Live Cattle Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 | (7189420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (467125)  |
|  LME Aluminum Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | (119360)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15453  |
|  Natural Gas Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 816 | (30950880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32044)  |
|  Platinum Futures, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | (969400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56867)  |
|  RBOB Gasoline Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174 | (12944660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (565858)  |
|  S&P/TSX 60 Index Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | (26026403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33250)  |
|  Silver Futures, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | (3775220) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95025  |
|  Silver Futures, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | (35111440) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (322887)  |
|  Soybean Futures, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | (4178000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57010  |
|  Soybean Futures, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | (2182250) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1184  |
|  Soybean Meal Futures, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 | (7152000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12162)  |
|  Soybean Meal Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | (1505000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8185  |
|  Sugar No. 11 Futures, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | (869400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(633)  |
|  Sugar No. 11 Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | (6418922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216323  |
|  Swiss Market Index, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | (9356322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527136  |
|  **TOTAL FUTURES CONTRACTS SOLD** |  | **$(525097362)**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$(6342451)**  |
|  **FUTURES CONTRACTS PURCHASED** |  |  |  |
|  2-Year US Treasury Note Future, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310 | $64526016  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $488779  |
|  Australian Dollar, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949 | 60802430  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390724  |
|  Brent Crude Future, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 | 20689760  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311521  |
|  British Pound, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1817 | 151515087  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1262415  |
|  CAC40 Index, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | 9043977  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400550  |
|  Canadian Dollar, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2573 | 187095695  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1422109  |
|  CBOE VIX, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | 2160981  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (347226)  |
|  Cocoa, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 656 | 58298720  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (638684)  |
|  Coffee 'C', July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257 | 38622281  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745619  |
|  Cotton No. 2, July 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | 6734040  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (84804)  |
|  Euro Fx, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1238 | 176105500  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78841  |
|  Euro Stoxx 50, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734 | 42465284  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1044523)  |
|  FTSE 100 Index Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | 25492617  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (505301)  |
|  Gold 100 Oz. Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | 27880440  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (522231)  |
|  Japanese Yen Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 777 | 68390569  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (359831)  |
|  KC HRW Wheat, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229 | 6231662  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (544299)  |
|  Lean Hogs Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | 2573900  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1171)  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **217** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**VALUE** | **VALUE/**<br>**UNREALIZED** <br>**APPRECIATION** <br>(DEPRECIATION)  |
|  Lean Hogs Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | $6289600  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(139460)  |
|  Live Cattle Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 728 | 60686080  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686632  |
|  LME Aluminum Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 119360  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11928)  |
|  Low Sulphur Gas Oil Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 | 20136350  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802849  |
|  Natural Gas Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1605 | 53382300  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (850434)  |
|  NY Harbor ULSD Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244 | 20560562  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 671153  |
|  OMXS30 Futures, May 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1001 | 25005582  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549461  |
|  Soybean Oil Futures, October 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 453 | 13187736  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763338  |
|  SPI 200TM Index Futures, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 | 26598299  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669368  |
|  WTI Crude Futures, September 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 | 20914920  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 372665  |
|  Yen Demon Nikkei, June 2025 Settlement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211 | 26684903  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (295236)  |
|  **TOTAL FUTURES CONTRACTS PURCHASED** |  | **$1222194651**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$4270896** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **218** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

**Open Forward Currency Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **COUNTERPARTY** | **FORWARD** <br>**SETTLEMENT** <br>**DATE** | **CURRENCY TO** <br>**BE RECEIVED** | **AMOUNT OF** <br>**CURRENCY TO BE** <br>**RECEIVED IN** <br>**LOCAL** <br>**CURRENCY** | **CURRENCY TO** <br>**BE DELIVERED** | **AMOUNT OF** <br>**CURRENCY TO BE** <br>**DELIVERED IN** <br>**LOCAL** <br>**CURRENCY** | **UNREALIZED** <br>**APPRECIATION** <br>(DEPRECIATION) |
|  Goldman Sachs & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Brazilian Real | &nbsp;&nbsp;&nbsp;&nbsp; 4832274 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 827807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12404  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Brazilian Real | &nbsp;&nbsp;&nbsp;&nbsp; 10259602 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1767891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15996  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Canadian Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 83130945 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58342463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2156518  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Colombian Peso | &nbsp;&nbsp;&nbsp;&nbsp; 25676953860 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6091804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65914)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Colombian Peso | &nbsp;&nbsp;&nbsp;&nbsp; 168676400494 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40260741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (675615)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Czech Koruna | &nbsp;&nbsp;&nbsp;&nbsp; 455984867 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19770484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 963784  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Indian Rupee | &nbsp;&nbsp;&nbsp;&nbsp; 11495210864 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133343276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1993800  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Indonesian Rupiah | &nbsp;&nbsp;&nbsp;&nbsp; 131940699965 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7859695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93673  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Indonesian Rupiah | &nbsp;&nbsp;&nbsp;&nbsp; 640840514655 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38492850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136932  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Japanese Yen | &nbsp;&nbsp;&nbsp;&nbsp; 8003081031 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54016299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2362153  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Mexican Peso | &nbsp;&nbsp;&nbsp;&nbsp; 53095508 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2595698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88257  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp; 204345881 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19507960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134481  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Norwegian Krone | &nbsp;&nbsp;&nbsp;&nbsp; 30901174 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2946485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23844  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | South African Rand | &nbsp;&nbsp;&nbsp;&nbsp; 64601047 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3496106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41005)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | South African Rand | &nbsp;&nbsp;&nbsp;&nbsp; 739821634 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40260741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (692365)  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp; 162205071 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16266052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583014  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | Swiss Franc | &nbsp;&nbsp;&nbsp;&nbsp; 62668627 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54663988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4093890)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 54558928 | Australian Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86468562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (868803)  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 40260741 | Czech Koruna | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925249401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1811641)  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 30360396 | Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32931922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1602906  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 47435748 | Euro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51555571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2402401  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 46352545 | Israeli New Shekel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169817069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (398622)  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 827807 | New Taiwan Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27362333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34504)  |
|  Goldman Sachs & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 1767891 | New Taiwan Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58018647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60538)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 43756847 | Polish Zloty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169334221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (967173)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 54112534 | Pound Sterling | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41814061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1627136)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 2595698 | Singapore Dollar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3459388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (62662)  |
|  BNP Paribas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 6091804 | South Korean Won | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8932107615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (201529)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 40260741 | South Korean Won | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58702374719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1099441)  |
|  Morgan Stanley & Co. Incorporated | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/2/2025 | United States Dollar | &nbsp;&nbsp;&nbsp;&nbsp; 2946485 | Swedish Krona | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29357888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103068) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$(233743)** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **219** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

**Total Return Swap Contracts** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  **COUNTERPARTY** | **PAYMENTS** <br>**RECEIVED** <br>(PAID) BY <br>**FUND** | **TOTAL** <br>**RETURN** <br>**RECEIVED BY** <br>**OR PAID BY** <br>**FUND** | **TERMINATION** <br>**DATE** | **PAYMENT** <br>**FREQUENCY** | **NOTIONAL** <br>**VALUE** | **VALUE** | **UPFRONT** <br>**PREMIUM** <br>**RECEIVED** | **UNREALIZED** <br>**APPRECIATION** <br>(DEPRECIATION)  |
|  Morgan Stanley Capital Services LLC | &nbsp;&nbsp;&nbsp; (0.05)% | AMSTERDAM IDX FUT May 25 - Long | May 16 2025 | At Maturity | 21940919(1) | $690260  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $690260  |
|  Morgan Stanley Capital Services LLC | &nbsp;&nbsp;&nbsp; (0.05)% | KOSPI2 INX FUT Jun 25 - Short | Jun 12 2025 | At Maturity | 37580482036(2)  | 37175  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37175  |
|  **TOTAL RETURN SWAP CONTRACTS** | **TOTAL RETURN SWAP CONTRACTS** | **TOTAL RETURN SWAP CONTRACTS** |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$727435** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Euro.

&nbsp;&nbsp;&nbsp;&nbsp;(2) South Korean Won.

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **220** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

**Written Options** 

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  **CALL OPTIONS** <br>|  |  |  |
|  Aluminum Future, Expires 05/27/2025 Strike Price $2,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | $582313 | $812  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $60.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1601750 | 83000  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | 4484900 | 215600  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | 4869320 | 215080  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285 | 18259950 | 738150  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 | 11596670 | 425350  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $62.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 | 13006210 | 428330  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $62.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 | 6599210 | 192610  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $62.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 2819080 | 72160  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $63.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 | 7880610 | 148830  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $63.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 2883150 | 37350  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $64.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1089190 | 8670  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $64.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 6407000 | 29000  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | 5061530 | 11060  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $65.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 | 6278860 | 5880  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $66.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 256280 | 120  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $66.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | 1922100 | 450  |
|  British Pound Future, Expires 05/09/2025 Strike Price $128.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1000650 | 37125  |
|  British Pound Future, Expires 05/09/2025 Strike Price $128.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | 11841025 | 417125  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 | 15343300 | 511750  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 | 19179125 | 605188  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 | 13925713 | 413325  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | 12174575 | 339450  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | 19846225 | 517650  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | 10423438 | 253125  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240 | 20013000 | 451500  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | 11841025 | 246725  |
|  British Pound Future, Expires 05/09/2025 Strike Price $131.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 | 11007150 | 210375  |
|  British Pound Future, Expires 05/09/2025 Strike Price $131.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 2918563 | 46375  |
|  British Pound Future, Expires 05/09/2025 Strike Price $132.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 3168725 | 40612  |
|  British Pound Future, Expires 05/09/2025 Strike Price $132.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 3585663 | 36281  |
|  British Pound Future, Expires 05/09/2025 Strike Price $133.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | 5420188 | 41844  |
|  British Pound Future, Expires 05/09/2025 Strike Price $133.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | 2501625 | 14438  |
|  British Pound Future, Expires 05/09/2025 Strike Price $134.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 3752438 | 15750  |
|  British Pound Future, Expires 05/09/2025 Strike Price $134.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | 4085988 | 12250  |
|  British Pound Future, Expires 05/09/2025 Strike Price $135.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | 4002600 | 8700  |
|  British Pound Future, Expires 05/09/2025 Strike Price $135.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 3001950 | 4500  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1818000 | 68000  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | 29815200 | 910200  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 559 | 40650480 | 967070  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 | 19707120 | 401080  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471 | 34251120 | 588750  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 | 16362000 | 229500  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480 | 34905600 | 388800  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $72.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197 | 14325840 | 122140  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | 8217360 | 51980  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $72.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 | 10471680 | 46080  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $73.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151 | 10980720 | 33220  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $73.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | 6108480 | 11760  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $73.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 4363200 | 5400  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $74.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1818000 | 250  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $71.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 3636000 | 71000  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 | 6181200 | 89250  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171 | 12435120 | 126540  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $73.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | 7562880 | 52000  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **221** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $74.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | $1236240 | $2210  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $75.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1818000 | 2000  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $75.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 72720 | 50  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $37.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 | 2099500 | 52700  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $38.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | 3952000 | 88800  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $39.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 602 | 1486940 | 31605  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $40.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 | 1600560 | 31428  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $42.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703 | 1736410 | 27768  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $45.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | 249470 | 3383  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $47.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 | 496470 | 5829  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $50.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635 | 1568450 | 16192  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $55.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233 | 575510 | 4427  |
|  CBOE SPX Volatility Index, Expires 05/21/2025 Strike Price $60.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 | 938600 | 5700  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 388000  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 331000  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,450.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 295500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 246500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 217000  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 190000  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $8,900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 165500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 143500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | 4976720 | 138320  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,150.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | 5509940 | 141980  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 3999150 | 95400  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | 5687680 | 125440  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 1244180 | 25340  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 1244180 | 23380  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,400.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114 | 10131180 | 175560  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,450.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 1244180 | 19880  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71 | 6309770 | 93010  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,550.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 1777400 | 24000  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | 5954290 | 74370  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1866270 | 21420  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | 6043160 | 63240  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,750.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | 6220900 | 60200  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1510790 | 13430  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | 6132030 | 49680  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 1777400 | 13200  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $9,950.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1866270 | 12600  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 3910280 | 24200  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,050.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 3377060 | 19380  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2221750 | 11500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,150.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1866270 | 8820  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 1244180 | 5460  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 622090 | 2450  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,400.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1620  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,450.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1500  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1320  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,550.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1260  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1140  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 1020  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 622090 | 1120  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,750.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 622090 | 980  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 622090 | 910  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 3554800 | 4800  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 533220 | 660  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $10,950.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 1421920 | 1600  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 1421920 | 1440  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **222** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,050.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | $1421920 | $1280  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 | 8531520 | 7680  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,150.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 1155310 | 910  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | 8620390 | 5820  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1510790 | 1020  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 1155310 | 650  |
|  Cocoa Future, Expires 05/09/2025 Strike Price $11,350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1510790 | 850  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $10,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 183000  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $10,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 172500  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $10,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 162000  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $10,300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 152500  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $10,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4443500 | 135500  |
|  Cocoa Future, Expires 06/13/2025 Strike Price $11,500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 3554800 | 60000  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $395.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 1051969 | 36041  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $397.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 3155906 | 97335  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $400.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | 5109563 | 141397  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $402.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 6762656 | 167231  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $405.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 9016875 | 198675  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $407.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 9016875 | 176400  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $410.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 | 14427000 | 249480  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $412.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | 13074469 | 199339  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $415.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | 15779531 | 211444  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $417.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | 18634875 | 218550  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $420.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 | 15328688 | 156825  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $422.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66 | 9918563 | 88358  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $425.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 6011250 | 46350  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $427.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | 3606750 | 24120  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $432.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 1051969 | 5250  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $435.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 1202250 | 5190  |
|  Coffee 'C' Future, Expires 06/12/2025 Strike Price $432.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 1352531 | 38880  |
|  Corn Future, Expires 05/23/2025 Strike Price $510.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 118875 | 469  |
|  Cotton Future, Expires 06/13/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 165050 | 1275  |
|  Crude Oil Future, Expires 05/15/2025 Strike Price $65.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1455250 | 6750  |
|  Crude Oil Future, Expires 05/15/2025 Strike Price $66.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 873150 | 3000  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $67.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1282260 | 15257  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $68.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | 2381340 | 27219  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $68.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 122120 | 1177  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $68.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | 1404380 | 10810  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $68.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 | 3236180 | 23320  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $69.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 | 8853700 | 59450  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $69.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 | 8365220 | 52060  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $69.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167 | 10197020 | 58450  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $69.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | 8609460 | 46530  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 | 9097940 | 46190  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $70.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 | 6228120 | 29580  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $70.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | 5800700 | 25650  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $70.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | 11662460 | 49660  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $71.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 | 13433200 | 52800  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $71.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 | 6289180 | 23690  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $71.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | 6594480 | 22680  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $71.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | 8487340 | 27800  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195 | 11906700 | 37050  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $72.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203 | 12395180 | 36540  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 | 10013840 | 27880  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $72.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | 12944720 | 33920  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $73.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 | 9708540 | 23850  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $73.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 2625580 | 6450  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $73.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 4579500 | 10500  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **223** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $73.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | $3053000 | $6500  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $74.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | 3846780 | 8190  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $74.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 793780 | 1560  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $74.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 2137100 | 4200  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $75.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1526500 | 2750  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $75.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1526500 | 2500  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 | 27075000 | 731500  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | 47595000 | 1189875  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112 | 15960000 | 365400  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271 | 38617500 | 806225  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 6270000 | 118800  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 | 38475000 | 654750  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | 17100000 | 229500  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 | 10972500 | 113575  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | 8122500 | 62700  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 855000 | 4725  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 3562500 | 14063  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1710000 | 5550  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1710000 | 4650  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 570000 | 1250  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1710000 | 2550  |
|  Euro FX Future, Expires 06/06/2025 Strike Price $1.1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 285000 | 3175  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,565.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 331910 | 1160  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,570.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | 13608310 | 45920  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,575.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 10289210 | 33480  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,580.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 14272130 | 44720  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,585.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 19914600 | 60000  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,590.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 | 32859090 | 95040  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,595.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 19914600 | 55800  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | 15267860 | 41860  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,605.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 26884710 | 71280  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,610.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69 | 22901790 | 58650  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,615.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 8629660 | 21320  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,620.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 | 10953030 | 26070  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | 21574150 | 49400  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,630.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 | 25557070 | 56980  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,640.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | 26552800 | 55200  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | 27880440 | 53760  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,660.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | 12944490 | 23400  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,670.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | 11284940 | 19040  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,675.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 6970110 | 11550  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,680.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 13276400 | 21200  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,690.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 5974380 | 9000  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | 7633930 | 10810  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,710.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 4646740 | 6160  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,720.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 5310560 | 6720  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,725.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 1659550 | 2000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $504.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 576125 | 3238  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $505.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 2534950 | 14511  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $506.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 3571975 | 19628  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $507.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 4954675 | 26513  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $508.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | 4839450 | 24803  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $509.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 3571975 | 17278  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $510.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 921800 | 4181  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $511.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 1037025 | 4604  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $512.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1958825 | 8423  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $513.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 1152250 | 4839  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $514.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 1267475 | 5049  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **224** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $515.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | $1267475 | $4962  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $516.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 921800 | 3456  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $533.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 460900 | 900  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $534.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 691350 | 1275  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $535.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 1152250 | 2000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $536.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | 3456750 | 6000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $537.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | 4839450 | 7875  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $538.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | 4839450 | 7875  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $539.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67 | 7720075 | 11725  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $540.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93 | 10715925 | 16275  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $541.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89 | 10255025 | 14463  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $542.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | 7143950 | 10075  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $543.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 4609000 | 6000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $544.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 5069900 | 6600  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $545.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 4609000 | 6000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $546.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2880625 | 3438  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $547.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 2995850 | 3575  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $548.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 2304500 | 2750  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $549.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 806575 | 875  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $550.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 576125 | 625  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | 3111075 | 1350  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $69.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 | 16636725 | 269325  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $69.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | 7658175 | 105487  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404 | 35562100 | 409050  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $70.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 3785075 | 36550  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $70.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228 | 20069700 | 159600  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $70.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | 9242625 | 59063  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $71.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 | 25527250 | 130500  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $71.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1056300 | 4350  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $71.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144 | 12675600 | 43200  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 | 6953975 | 14813  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 616175 | 875  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $73.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 88025 | 75  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2200625 | 17500  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $72.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2200625 | 14063  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $73.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | 2112600 | 10800  |
|  Lean Hogs Future, Expires 05/16/2025 Strike Price $90.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 1838600 | 28000  |
|  Lean Hogs Future, Expires 05/16/2025 Strike Price $91.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 919300 | 7500  |
|  Lean Hogs Future, Expires 05/16/2025 Strike Price $92.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 919300 | 125  |
|  Lean Hogs Future, Expires 05/16/2025 Strike Price $101.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 1838600 | 43000  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $102.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 | 5464368 | 66720  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $103.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | 9828000 | 97500  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $104.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 | 9081072 | 71610  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $105.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | 7862400 | 50000  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $106.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | 4914000 | 25000  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $107.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | 2240784 | 9120  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $108.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 1965600 | 6500  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $109.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 1965600 | 5000  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $199.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 94250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 84250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $201.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | 6835520 | 243540  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $202.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 128500  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $203.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 8336000 | 218000  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $204.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 8336000 | 179000  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $205.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | 10420000 | 176250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $206.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178 | 14838080 | 186900  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $207.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 36500  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $208.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 416800 | 2300  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **225** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $209.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | $8336000 | $27000  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $212.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 83360 | 50  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $213.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 1500  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $214.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 500  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $216.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $217.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $218.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 125  |
|  Live Cattle Future, Expires 06/06/2025 Strike Price $211.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 2167360 | 22100  |
|  Live Cattle Future, Expires 06/06/2025 Strike Price $212.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 83360 | 700  |
|  Live Cattle Future, Expires 06/06/2025 Strike Price $213.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 83360 | 570  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438 | 14585400 | 1565850  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529 | 17615700 | 1728772  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 | 21744900 | 1945287  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 | 21711600 | 1765616  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402 | 13386600 | 986910  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441 | 14685300 | 978579  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 | 7392600 | 444444  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | 6660000 | 360200  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | 5627700 | 273104  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 266400 | 11584  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $4.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 865800 | 7488  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $4.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | 5494500 | 42735  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $4.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | 8658000 | 60320  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $4.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162 | 5394600 | 33858  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $4.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169 | 5627700 | 31941  |
|  Platinum Future, Expires 06/18/2025 Strike Price $1,045.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1211750 | 17625  |
|  Silver Future, Expires 05/27/2025 Strike Price $36.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 2462250 | 11475  |
|  Silver Future, Expires 05/27/2025 Strike Price $36.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | 4432050 | 18090  |
|  Silver Future, Expires 05/27/2025 Strike Price $36.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 3118850 | 11115  |
|  Silver Future, Expires 05/27/2025 Strike Price $37.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 4267900 | 13390  |
|  Silver Future, Expires 05/27/2025 Strike Price $37.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1969800 | 5460  |
|  Silver Future, Expires 05/27/2025 Strike Price $37.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | 4596200 | 11340  |
|  Silver Future, Expires 05/27/2025 Strike Price $37.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 2954700 | 6480  |
|  Silver Future, Expires 05/27/2025 Strike Price $38.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 3447150 | 6720  |
|  Silver Future, Expires 05/27/2025 Strike Price $38.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 1313200 | 2320  |
|  Silver Future, Expires 05/27/2025 Strike Price $38.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 1149050 | 1855  |
|  Silver Future, Expires 05/27/2025 Strike Price $38.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 492450 | 720  |
|  Silver Future, Expires 05/27/2025 Strike Price $39.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 1641500 | 2200  |
|  Silver Future, Expires 05/27/2025 Strike Price $39.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 380  |
|  Silver Future, Expires 05/27/2025 Strike Price $39.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 360  |
|  Silver Future, Expires 05/27/2025 Strike Price $40.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 1641500 | 1400  |
|  Silver Future, Expires 05/27/2025 Strike Price $41.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 2790550 | 2295  |
|  Silver Future, Expires 05/27/2025 Strike Price $41.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 2133950 | 1690  |
|  Silver Future, Expires 05/27/2025 Strike Price $41.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | 4596200 | 3360  |
|  Silver Future, Expires 05/27/2025 Strike Price $41.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 3118850 | 2185  |
|  Silver Future, Expires 05/27/2025 Strike Price $42.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 984900 | 660  |
|  Silver Future, Expires 05/27/2025 Strike Price $42.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 984900 | 630  |
|  Silver Future, Expires 06/25/2025 Strike Price $39.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 1480  |
|  Silver Future, Expires 06/25/2025 Strike Price $40.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 656600 | 2360  |
|  Silver Future, Expires 06/25/2025 Strike Price $40.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 1805650 | 6105  |
|  Silver Future, Expires 06/25/2025 Strike Price $40.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 1149050 | 3605  |
|  Silver Future, Expires 06/25/2025 Strike Price $41.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 1313200 | 3880  |
|  Silver Future, Expires 06/25/2025 Strike Price $42.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 660  |
|  Silver Future, Expires 06/25/2025 Strike Price $43.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 630  |
|  Soybean Future, Expires 05/23/2025 Strike Price $1,090.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183 | 9557175 | 33169  |
|  Soybean Oil Future, Expires 05/23/2025 Strike Price $53.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 293820 | 2010  |
|  Sugar Future, Expires 05/15/2025 Strike Price $19.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 483000 | 560  |
|  Sugar Future, Expires 05/15/2025 Strike Price $20.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 1932000 | 1120  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **226** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Sugar Future, Expires 05/15/2025 Strike Price $20.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | $3091200 | $1792  |
|  Sugar Future, Expires 05/15/2025 Strike Price $20.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 | 4347000 | 2520  |
|  Sugar Future, Expires 05/15/2025 Strike Price $21.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 | 3381000 | 1960  |
|  Sugar Future, Expires 05/15/2025 Strike Price $21.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 1932000 | 1120  |
|  Sugar Future, Expires 05/15/2025 Strike Price $21.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 1449000 | 840  |
|  Sugar Future, Expires 05/15/2025 Strike Price $21.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 966000 | 560  |
|  Sugar Future, Expires 05/15/2025 Strike Price $22.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 966000 | 560  |
|  Wheat Future, Expires 05/23/2025 Strike Price $565.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 265375 | 2750  |
|  **TOTAL CALL OPTIONS (Premiums Received $23,833,333)** |  |  | **37194513**  |
|  **PUT OPTIONS** |  |  |  |
|  Aluminum Future, Expires 05/27/2025 Strike Price $2,275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 582313 | 6625  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $55.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 3203500 | 250  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $56.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1601750 | 125  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $56.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | 2370590 | 185  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $57.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97 | 6214790 | 485  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $57.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121 | 7752470 | 605  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $57.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 1665820 | 130  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $58.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | 10571550 | 825  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $58.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | 10571550 | 825  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $58.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 328 | 21014960 | 1640  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $58.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135 | 8649450 | 675  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $59.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | 9354220 | 730  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $59.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 3203500 | 250  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $59.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | 6471070 | 505  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $60.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 961050 | 75  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $60.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1601750 | 125  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 2306520 | 360  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $61.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 2755010 | 860  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $62.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 2883150 | 1800  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $62.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 2883150 | 3150  |
|  Australian Dollar Future, Expires 05/09/2025 Strike Price $63.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | 2626870 | 5740  |
|  British Pound Future, Expires 05/09/2025 Strike Price $124.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 2918563 | 219  |
|  British Pound Future, Expires 05/09/2025 Strike Price $124.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 3335500 | 250  |
|  British Pound Future, Expires 05/09/2025 Strike Price $125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | 7171325 | 537  |
|  British Pound Future, Expires 05/09/2025 Strike Price $125.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | 7171325 | 537  |
|  British Pound Future, Expires 05/09/2025 Strike Price $125.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 6254063 | 937  |
|  British Pound Future, Expires 05/09/2025 Strike Price $126.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 | 21347200 | 3200  |
|  British Pound Future, Expires 05/09/2025 Strike Price $126.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | 2501625 | 375  |
|  British Pound Future, Expires 05/09/2025 Strike Price $126.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361 | 30102888 | 4512  |
|  British Pound Future, Expires 05/09/2025 Strike Price $126.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 | 23014950 | 5175  |
|  British Pound Future, Expires 05/09/2025 Strike Price $127.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399 | 33271613 | 7481  |
|  British Pound Future, Expires 05/09/2025 Strike Price $127.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 | 7838425 | 1762  |
|  British Pound Future, Expires 05/09/2025 Strike Price $127.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 | 10756988 | 2419  |
|  British Pound Future, Expires 05/09/2025 Strike Price $127.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | 4502925 | 1012  |
|  British Pound Future, Expires 05/09/2025 Strike Price $128.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 | 15593463 | 3506  |
|  British Pound Future, Expires 05/09/2025 Strike Price $128.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084688 | 469  |
|  British Pound Future, Expires 05/09/2025 Strike Price $128.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 500325 | 112  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 3168725 | 950  |
|  British Pound Future, Expires 05/09/2025 Strike Price $129.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | 4085988 | 1531  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1751138 | 787  |
|  British Pound Future, Expires 05/09/2025 Strike Price $130.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1417588 | 956  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $66.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | 2908800 | 200  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $67.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | 4072320 | 280  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $67.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 | 7199280 | 495  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $68.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | 7562880 | 520  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $68.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 5890320 | 405  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $69.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | 16434720 | 1130  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **227** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $69.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | $6544800 | $450  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $69.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | 16071120 | 1105  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $69.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 | 15707520 | 1080  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316 | 22979520 | 1580  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318 | 23124960 | 1590  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 | 17089200 | 1175  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $70.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 5890320 | 810  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 | 6617520 | 910  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189 | 13744080 | 3780  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 | 7417440 | 3570  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $71.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 | 10398960 | 8580  |
|  Canadian Dollar Future, Expires 05/09/2025 Strike Price $72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 1381680 | 1900  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $67.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1818000 | 125  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $68.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 1527120 | 210  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $68.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 2545200 | 525  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $69.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 | 4290480 | 1180  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $69.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 | 6108480 | 2520  |
|  Canadian Dollar Future, Expires 06/06/2025 Strike Price $70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 1090800 | 750  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,075.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 13922650 | 437  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,080.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 13922650 | 437  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,085.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | 25617676 | 920  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,090.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 13922650 | 500  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,095.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | 31743642 | 1282  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | 26731488 | 1080  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,105.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 25060770 | 1012  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,110.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 17820992 | 720  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,115.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | 34528172 | 1395  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,120.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 27845300 | 1125  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 1670718 | 60  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | 15036462 | 17820  |
|  CBOE S&P 500 Index, Expires 05/02/2025 Strike Price $5,400.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | 23390052 | 38640  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,155.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 9467402 | 1572  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,160.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | 33414360 | 5700  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,165.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | 33971266 | 6100  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,170.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | 22833146 | 4305  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,175.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85 | 47337010 | 9562  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,180.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 | 46223198 | 9960  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,185.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 45109386 | 10125  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,190.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 24503864 | 5720  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,195.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 10581214 | 2660  |
|  CBOE S&P 500 Index, Expires 05/05/2025 Strike Price $5,200.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 10024308 | 2655  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,080.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 3898342 | 1645  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,090.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 8353590 | 2775  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,095.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 13922650 | 5750  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,100.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | 34528172 | 13020  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,105.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 20048616 | 9180  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,110.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 17264086 | 7285  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,115.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | 33971266 | 14945  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,120.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 9467402 | 5100  |
|  CBOE S&P 500 Index, Expires 05/07/2025 Strike Price $5,130.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | 13365744 | 6000  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 1953656 | 244  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $305.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1803375 | 270  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $307.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1803375 | 270  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $310.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 3306188 | 577  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $312.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 3306188 | 660  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $315.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 1653094 | 330  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $317.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 5710688 | 1282  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $320.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 2855344 | 712  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **228** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | $1653094 | $536  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $327.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 1502813 | 525  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $330.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 5710688 | 2280  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $332.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 11271094 | 5062  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $335.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | 14276719 | 7125  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $337.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 | 11421375 | 6555  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $340.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 | 10970531 | 6844  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $342.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | 9167156 | 6634  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $345.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 2855344 | 2280  |
|  Coffee 'C' Future, Expires 05/09/2025 Strike Price $355.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 3757031 | 5344  |
|  Corn Future, Expires 05/23/2025 Strike Price $445.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 118875 | 469  |
|  Cotton Future, Expires 06/13/2025 Strike Price $62.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 165050 | 1200  |
|  Crude Oil Future, Expires 05/15/2025 Strike Price $50.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 232840 | 2560  |
|  Crude Oil Future, Expires 05/15/2025 Strike Price $57.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 1455250 | 52750  |
|  Crude Oil Future, Expires 05/15/2025 Strike Price $58.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 756730 | 32500  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $54.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47 | 2869820 | 53110  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $54.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | 1465440 | 29280  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $55.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | 3175120 | 68120  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $55.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | 4884800 | 112800  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $56.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 | 5861760 | 145920  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $56.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | 6899780 | 185320  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $57.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | 5006920 | 144320  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $57.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | 9830660 | 294630  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $57.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | 13799560 | 429400  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $57.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 | 16730440 | 539780  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $58.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 | 17768460 | 593640  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $58.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | 13494260 | 466310  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $58.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227 | 13860620 | 497130  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $58.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 | 16730440 | 621980  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $59.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 | 16058780 | 618050  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $59.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239 | 14593340 | 583160  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $59.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259 | 15814540 | 655270  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $59.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 | 16852560 | 723120  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $60.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 | 15997720 | 710020  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $60.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131 | 7998860 | 368110  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $60.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1038020 | 49300  |
|  Crude Oil Future, Expires 05/27/2025 Strike Price $60.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 1160140 | 57190  |
|  Crude Oil Future, Expires 06/25/2025 Strike Price $51.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 60670 | 1360  |
|  Crude Oil Future, Expires 06/25/2025 Strike Price $52.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 1941440 | 48960  |
|  Crude Oil Future, Expires 06/25/2025 Strike Price $53.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 121340 | 3440  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 2280000 | 100  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 4417500 | 194  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 3562500 | 156  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | 7267500 | 319  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 14250000 | 625  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146 | 20805000 | 913  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | 11400000 | 500  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339 | 48307500 | 2119  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | 32205000 | 1413  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 3562500 | 313  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.0900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 | 56715000 | 4975  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 2707500 | 475  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 | 7267500 | 1913  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 | 6840000 | 14400  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 997500 | 2625  |
|  Euro FX Future, Expires 05/09/2025 Strike Price $1.1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1710000 | 5700  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,910.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 331910 | 190  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,915.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 995730 | 600  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **229** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,930.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | $3651010 | $2420  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,935.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 3651010 | 2530  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,940.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 2323370 | 1610  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,945.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 2655280 | 1920  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,950.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 2323370 | 1750  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,955.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | 12280670 | 9620  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,960.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 | 11284940 | 9180  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,965.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 7302020 | 6160  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,970.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 10621120 | 9280  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,975.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 | 20578420 | 18600  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,980.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 7302020 | 7040  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,985.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 8297750 | 8250  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,990.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | 14604040 | 14960  |
|  Gold Future, Expires 05/27/2025 Strike Price $2,995.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 | 8629660 | 9360  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | 27216620 | 30340  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,005.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 10621120 | 12480  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,015.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 | 13608310 | 17220  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,020.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | 3319100 | 4400  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,025.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 6970110 | 9660  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,030.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 7302020 | 10560  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,035.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 | 9293480 | 14280  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,040.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 1659550 | 2650  |
|  Gold Future, Expires 05/27/2025 Strike Price $3,045.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 2987190 | 5040  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $403.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 345675 | 1593  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $404.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 230450 | 1095  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $405.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 115225 | 573  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $406.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 230450 | 1220  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $407.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 230450 | 1270  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $408.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 1037025 | 5204  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $409.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 1843600 | 10213  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $410.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 | 2765400 | 15282  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $411.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 4148100 | 23704  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $412.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 4148100 | 25916  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $413.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 4032875 | 25756  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $414.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | 3341525 | 20408  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $415.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 3687200 | 22438  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $416.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 | 2650175 | 16172  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $417.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 2189275 | 13743  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $418.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 2304500 | 15216  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $419.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 | 2189275 | 14693  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $420.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1958825 | 13586  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $421.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 1497925 | 10345  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $431.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 576125 | 7063  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $432.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 1728375 | 22125  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $433.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 2304500 | 30750  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $434.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | 3341525 | 46038  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $435.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | 3456750 | 49500  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $436.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 4032875 | 60375  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $437.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 | 3571975 | 55413  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $438.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 4954675 | 79550  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $439.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | 7835300 | 130900  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $440.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 | 8065750 | 140000  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $441.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 | 7835300 | 141100  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $442.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57 | 6567825 | 122550  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $443.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | 6452600 | 124600  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $444.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63 | 7259175 | 145688  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $445.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46 | 5300350 | 109825  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $446.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 | 2419725 | 51975  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **230** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $447.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | $1152250 | $25625  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $448.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 1958825 | 45263  |
|  HG Copper Future, Expires 05/27/2025 Strike Price $449.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 115225 | 2750  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $65.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 1408400 | 100  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $66.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | 10915100 | 775  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $66.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | 23326625 | 1656  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $67.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331 | 29136275 | 4138  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $67.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 7130025 | 1519  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $67.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 398 | 35033950 | 7463  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $67.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | 8362375 | 2969  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $68.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263 | 23150575 | 9863  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $68.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 1584450 | 1350  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $68.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2200625 | 2500  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $69.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 1320375 | 3000  |
|  Japanese Yen Future, Expires 05/09/2025 Strike Price $69.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 | 3697050 | 11550  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $65.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 528150 | 188  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $66.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 | 4753350 | 2363  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $66.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 1584450 | 1125  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $67.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 | 8714475 | 11138  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $67.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 | 11443250 | 22750  |
|  Japanese Yen Future, Expires 06/06/2025 Strike Price $68.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | 8802500 | 26250  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $83.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 982800 | 1750  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $85.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 2948400 | 6750  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $86.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | 4914000 | 12500  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $87.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209 | 8216208 | 22990  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $88.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | 9828000 | 32500  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $89.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219 | 8609328 | 35040  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $90.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 | 4245696 | 21600  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $91.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119 | 4678128 | 28560  |
|  Lean Hogs Future, Expires 06/17/2025 Strike Price $92.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 353808 | 2700  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $181.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 125  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $183.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 125  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $184.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 125  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $185.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 125  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $186.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 1833920 | 110  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $187.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $188.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $189.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $190.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92 | 7669120 | 460  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $191.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 4168000 | 250  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $192.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | 9419680 | 565  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $193.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87 | 7252320 | 870  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $194.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | 3751200 | 450  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $195.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 6752160 | 810  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $196.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | 7168960 | 860  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $197.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 | 6752160 | 810  |
|  Live Cattle Future, Expires 05/02/2025 Strike Price $198.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 2084000 | 250  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 23485224 | 12000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 35227836 | 18000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | 52841754 | 27000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,675.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 48927550 | 25000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 | 52841754 | 27270  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,725.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 62627264 | 32000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,750.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 29356530 | 15000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,775.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 23485224 | 12000  |
|  NASDAQ 100 Stock Index, Expires 05/02/2025 Strike Price $17,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 7828408 | 730  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,600.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 5871306 | 8820  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 13699714 | 22890  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **231** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | $9785510 | $17450  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,675.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 11742612 | 21600  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,700.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 11742612 | 4230  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,725.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 15656816 | 28960  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,750.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | 13699714 | 26320  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,775.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 9785510 | 18150  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,800.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 9785510 | 18750  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,825.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 9785510 | 19950  |
|  NASDAQ 100 Stock Index, Expires 05/07/2025 Strike Price $17,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 5871306 | 10770  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 832500 | 4400  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 1665000 | 10600  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 | 5894100 | 45135  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 | 5361300 | 49427  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 | 13986000 | 154560  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 590 | 19647000 | 259600  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 | 13619700 | 213907  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | 8658000 | 160940  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 | 2730600 | 59778  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $2.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 | 3762900 | 96389  |
|  Natural Gas Future, Expires 05/27/2025 Strike Price $3.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191 | 6360300 | 189663  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,815.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | 5695948 | 725  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,825.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 3535416 | 585  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,830.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 4321064 | 825  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,840.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | 1571296 | 400  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,845.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 982060 | 300  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | 2160532 | 770  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 7463656 | 14820  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,920.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38 | 7463656 | 26410  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,925.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | 5695948 | 23345  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,935.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 | 6285184 | 33600  |
|  Russell 2000 Index, Expires 05/02/2025 Strike Price $1,940.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 3928240 | 24000  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,760.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 3928240 | 4000  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,765.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 785648 | 860  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,770.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 3928240 | 4500  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,780.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | 785648 | 912  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,785.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 3339004 | 4131  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,790.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 196412 | 295  |
|  Russell 2000 Index, Expires 05/07/2025 Strike Price $1,795.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 3928240 | 6600  |
|  Silver Future, Expires 05/27/2025 Strike Price $29.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 984900 | 2790  |
|  Silver Future, Expires 05/27/2025 Strike Price $29.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 820750 | 2675  |
|  Silver Future, Expires 05/27/2025 Strike Price $29.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 | 2790550 | 10625  |
|  Silver Future, Expires 05/27/2025 Strike Price $29.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | 2133950 | 9425  |
|  Silver Future, Expires 05/27/2025 Strike Price $30.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43 | 7058450 | 36550  |
|  Silver Future, Expires 05/27/2025 Strike Price $30.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | 6073550 | 36815  |
|  Silver Future, Expires 05/27/2025 Strike Price $30.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56 | 9192400 | 65520  |
|  Silver Future, Expires 05/27/2025 Strike Price $30.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 | 10013150 | 84180  |
|  Silver Future, Expires 05/27/2025 Strike Price $31.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | 10669750 | 105625  |
|  Silver Future, Expires 05/27/2025 Strike Price $31.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | 820750 | 11275  |
|  Silver Future, Expires 05/27/2025 Strike Price $31.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | 492450 | 7935  |
|  Silver Future, Expires 06/25/2025 Strike Price $27.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 | 2954700 | 11250  |
|  Silver Future, Expires 06/25/2025 Strike Price $28.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | 1477350 | 6345  |
|  Silver Future, Expires 06/25/2025 Strike Price $28.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | 984900 | 4800  |
|  Silver Future, Expires 06/25/2025 Strike Price $28.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 | 1969800 | 10860  |
|  Silver Future, Expires 06/25/2025 Strike Price $28.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | 2626400 | 16400  |
|  Silver Future, Expires 06/25/2025 Strike Price $29.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 3611300 | 25630  |
|  Silver Future, Expires 06/25/2025 Strike Price $29.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 2298100 | 18550  |
|  Silver Future, Expires 06/25/2025 Strike Price $29.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 2462250 | 22575  |
|  Silver Future, Expires 06/25/2025 Strike Price $29.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | 328300 | 3420  |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **232** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

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**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

---

| | | | |
|:---|:---|:---|:---|
|  **DESCRIPTION** | **NUMBER OF** <br>**CONTRACTS** | **NOTIONAL** <br>**AMOUNT** | **VALUE**  |
|  Soybean Future, Expires 05/23/2025 Strike Price $960.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 | $6423675 | $4613  |
|  Soybean Future, Expires 05/23/2025 Strike Price $990.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 | 19793275 | 42638  |
|  Soybean Future, Expires 05/23/2025 Strike Price $1,000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 | 19271025 | 62269  |
|  Soybean Future, Expires 05/23/2025 Strike Price $1,010.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225 | 11750625 | 56250  |
|  Soybean Future, Expires 05/23/2025 Strike Price $1,020.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 1148950 | 7975  |
|  Soybean Meal Future, Expires 05/23/2025 Strike Price $300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | 5960000 | 131000  |
|  Sugar Future, Expires 05/15/2025 Strike Price $16.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 483000 | 1680  |
|  Sugar Future, Expires 05/15/2025 Strike Price $16.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 483000 | 2800  |
|  Sugar Future, Expires 05/15/2025 Strike Price $16.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 966000 | 9520  |
|  Sugar Future, Expires 05/15/2025 Strike Price $17.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 483000 | 7280  |
|  Sugar Future, Expires 05/15/2025 Strike Price $17.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | 1449000 | 31080  |
|  Sugar Future, Expires 05/15/2025 Strike Price $17.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | 966000 | 29680  |
|  Sugar Future, Expires 05/15/2025 Strike Price $17.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | 676200 | 27440  |
|  Sugar Future, Expires 05/15/2025 Strike Price $18.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | 483000 | 24920  |
|  Wheat Future, Expires 05/23/2025 Strike Price $510.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | 530750 | 6625  |
|  **TOTAL PUT OPTIONS (Premiums Received $17,120,700)** |  |  | **13279289**  |
|  **TOTAL WRITTEN OPTIONS (Premiums Received $40,954,033)** |  |  | **$50473802** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **233** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Schedule of Investments as of April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND**<br>

**Open Risk Share Contracts** 

**Description: Consumer Loans - United States** 

**Type: Receive** 

**Strike: Actual losses greater than expected losses** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Reference** <br>**Entity Investment** | **Reference** <br>**Entity** <br>**Vintage** | **Reference** <br>**Entity Interest** <br>**Rate Range** | **Reference** <br>**Entity** <br>**Maturity** <br>**Date Range** | **Termination** <br>**Date** | **Notional** <br>**Value** | **Unrealized** <br>**Appreciation**  |
|  Contract 023 (1)(2)(3)<br> B | November 01, 2023 - January 31, 2024 | 10.240% - 9.999% | November 10, 2025 - January 05, 2029 | July 31, 2025 | 3211716  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  |
|  Contract 029 (1)(2)(3)<br> B | February 01, 2024 - March 31, 2024 | 10.242% - 9.990% | February 05, 2026 - February 01, 2030 | September 30, 2025 | 1651934  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
|  Contract 033 (1)(2)(3)<br> B | April 01, 2024 - June 30, 2024 | 10.740% - 7.990% | April 22, 2026 - April 30, 2029 | December 31, 2025 | 220353  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
|  Contract 047 (1)(2)(3)(4)<br> D | February 01, 2025 - February 28, 2025 | 10.800% - 9.680% | February 03, 2028 - July 03, 2030 | August 31, 2026 | 4874879  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26994  |
|  **Total Open Risk Share Contracts - Consumer Loans** | **Total Open Risk Share Contracts - Consumer Loans** | **Total Open Risk Share Contracts - Consumer Loans** | **Total Open Risk Share Contracts - Consumer Loans** | **Total Open Risk Share Contracts - Consumer Loans** | **Total Open Risk Share Contracts - Consumer Loans** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **26994**  |
|  **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  | **Description: Asset-Backed Securities - United States**  |
|  **Type: Receive**  | **Type: Receive**  | **Type: Receive**  | **Type: Receive**  | **Type: Receive**  | **Type: Receive**  | **Type: Receive**  |
|  **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  | **Strike: Actual losses greater than expected losses**  |
|  Contract 013 (1)(2)(3)(4)<br> D | November 1, 2023 - November 30, 2023 | 0.000% - 0.000% | December 7, 2053 - December 7, 2053 | May 31, 2025 | 22907553  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1014402  |
|  **Total Open Risk Share Contracts - Asset-Backed Securities** | **Total Open Risk Share Contracts - Asset-Backed Securities** | **Total Open Risk Share Contracts - Asset-Backed Securities** | **Total Open Risk Share Contracts - Asset-Backed Securities** | **Total Open Risk Share Contracts - Asset-Backed Securities** | **Total Open Risk Share Contracts - Asset-Backed Securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1014402**  |
|  **Total Open Risk Share Contracts** | **Total Open Risk Share Contracts** | **Total Open Risk Share Contracts** | **Total Open Risk Share Contracts** | **Total Open Risk Share Contracts** | **Total Open Risk Share Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1041396** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Contract is non-income producing and is fair valued
 by a third-party valuation specialist pursuant to procedures approved by the Board of Trustees. Value is determined using significant
 unobservable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Contract is restricted to resale to institutional
 investors. The aggregate value of these contracts is $1,041,396 which represents 0.06% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(3) If the current expected losses on whole loan vintages
 are greater than initial expected losses, the Fund will receive from the alternative lending platform an amount equal to such deficit
 (subject to a Cap.)

&nbsp;&nbsp;&nbsp;&nbsp;(4) If the current expected losses of select whole loan
 vintages are less than initial expected losses, the Fund must pay the alternative lending platform an amount equal to such deficit (subject
 to a Cap.)

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **234** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Statement of Assets and Liabilities As of April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **STONE RIDGE** <br>**HIGH YIELD** <br>**REINSURANCE** <br>**RISK PREMIUM** <br>**FUND**  |
|  **ASSETS:**<br>|  |
|  Investments, at fair value<sup>(1)</sup> | &nbsp;&nbsp; $3549066189  |
|  Interest receivable | &nbsp;&nbsp; 28168038  |
|  Receivable for fund shares sold | &nbsp;&nbsp; 4877723  |
|  Foreign currencies at custodian, at fair value<sup>(2)</sup> | &nbsp;&nbsp; 1387427  |
|  Dividends receivable | &nbsp;&nbsp; 458412  |
|  Other assets | &nbsp;&nbsp; 77368  |
|  **Total assets**<br>| &nbsp;&nbsp; **3584035157**  |
|  **LIABILITIES:**<br>|  |
|  Reverse repurchase agreements | &nbsp;&nbsp; 24958976  |
|  Payable for investment securities purchased | &nbsp;&nbsp; 10306000  |
|  Payable for fund shares redeemed | &nbsp;&nbsp; 10158549  |
|  Payable to Adviser | &nbsp;&nbsp; 4366542  |
|  Payable to Trustees | &nbsp;&nbsp; 96529  |
|  Accrued distribution fees | &nbsp;&nbsp; 8050  |
|  Payable for Chief Compliance Officer compensation | &nbsp;&nbsp; 4684  |
|  Other accrued expenses | &nbsp;&nbsp; 1055609  |
|  **Total liabilities**<br>| &nbsp;&nbsp; **50954939**  |
|  **Total net assets**<br>| &nbsp;&nbsp; **$3533080218**  |
|  **NET ASSETS CONSIST OF:**<br>|  |
|  Capital stock | &nbsp;&nbsp; $3702506975  |
|  Total accumulated losses | &nbsp;&nbsp; (169426757)  |
|  **Total net assets**<br>| &nbsp;&nbsp; **$3533080218**  |
|  **Class I**<br>|  |
|  Net assets | &nbsp;&nbsp; $3467007100  |
|  Shares outstanding | &nbsp;&nbsp; 390614519  |
|  Class I Net asset value, offering and redemption price per share | &nbsp;&nbsp; $8.88  |
|  **Class M**<br>|  |
|  Net assets | &nbsp;&nbsp; $66073118  |
|  Shares outstanding | &nbsp;&nbsp; 7429531  |
|  Class M Net asset value, offering and redemption price per share | &nbsp;&nbsp; $8.89  |
| (1) Cost of Investments | &nbsp;&nbsp; $3474526674  |
| (2) Cost of Foreign currencies at custodian | &nbsp;&nbsp; 1388442 |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **235** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Statement of Assets and Liabilities As of April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **STONE RIDGE** <br>**DIVERSIFIED** <br>**ALTERNATIVES** <br>**FUND**  |
|  **ASSETS:**<br>|  |
|  Investments, at fair value<sup>(1)</sup>:<br>|  |
|  Unaffiliated issuers | $1542104899  |
|  Affiliated issuers | 36351510  |
|  Cash held at broker | 881796  |
|  Cash held at custodians | 257548  |
|  Unrealized appreciation on swap contracts | 727435  |
|  Unrealized appreciation on risk share contracts | 1041396  |
|  Unrealized appreciation on forward currency contracts | 12570163  |
|  Restricted cash collateral held at broker<sup>(2)</sup> | 122923875  |
|  Foreign currencies at brokers, at value<sup>(3)</sup> | 4047860  |
|  Foreign currencies at custodian, at value<sup>(4)</sup> | 145514  |
|  Receivable for investment securities sold | 9230226  |
|  Receivable for fund shares sold | 2063695  |
|  Interest receivable | 6806672  |
|  Dividend receivable | 346428  |
|  Other assets | 940666  |
|  **Total assets**<br>| **1740439683**  |
|  **LIABILITIES:**<br>|  |
|  Written options, at fair value<sup>(5)</sup> | 50473802  |
|  Unrealized depreciation on forward currency contracts | 12803906  |
|  Due to brokers | 5526316  |
|  Payable for investment securities purchased | 2393706  |
|  Payable for fund shares redeemed | 1397161  |
|  Payable to Adviser | 2213633  |
|  Payable to Trustees | 35755  |
|  Payable for Chief Compliance Officer compensation | 4684  |
|  Other accrued expenses | 1005678  |
|  **Total liabilities**<br>| **75854641**  |
|  **Total net assets**<br>| **$1664585042**  |
|  **NET ASSETS CONSIST OF:**<br>|  |
|  Capital stock | $1877458610  |
|  Total accumulated losses | (212873568)  |
|  **Total net assets**<br>| **$1664585042**  |
|  **Class I**<br>|  |
|  Net assets | $1605881190  |
|  Shares outstanding | 159100552  |
|  Class I Net asset value, offering and redemption price per share | $10.09  |
|  **Class J**<br>|  |
|  Net assets | $58703852  |
|  Shares outstanding | 5852061  |
|  Class J Net asset value, offering and redemption price per share | $10.03  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Cost of Investments<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | $1528385406  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers (See note 9) | 36880123  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Represents a cash deposit held at the broker to cover the Fund's initial margin obligation under its derivative contracts<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Cost of foreign currencies at brokers | 3996155  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)Cost of foreign currencies at custodian | 145822  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)Premiums received | 40954033 |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. <br>

---

| | |
|:---|:---|
| **236** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Statement of Operations For the Period Ended April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **STONE RIDGE** <br>**HIGH YIELD** <br>**REINSURANCE** <br>**RISK PREMIUM** <br>**FUND**  |
|  **INVESTMENT INCOME:**<br>|  |
|  Interest income | &nbsp;&nbsp;&nbsp;&nbsp; $170553450  |
|  Dividend income | &nbsp;&nbsp;&nbsp;&nbsp; 53796188  |
|  **Total investment income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **224349638**  |
|  **EXPENSES**<br>|  |
|  Advisory fees (See Note 4) | &nbsp;&nbsp;&nbsp;&nbsp; 25763545  |
|  Fund accounting and administration fees | &nbsp;&nbsp;&nbsp;&nbsp; 1096841  |
|  Transfer agency fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp; 288794  |
|  Interest expense | &nbsp;&nbsp;&nbsp;&nbsp; 265006  |
|  Trustees fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp; 197149  |
|  Legal fees | &nbsp;&nbsp;&nbsp;&nbsp; 173443  |
|  Audit and tax related fees | &nbsp;&nbsp;&nbsp;&nbsp; 107903  |
|  Federal and state registration fees | &nbsp;&nbsp;&nbsp;&nbsp; 107132  |
|  Custody fees | &nbsp;&nbsp;&nbsp;&nbsp; 96659  |
|  Distribution (12b-1) fees — Class M Only | &nbsp;&nbsp;&nbsp;&nbsp; 42977  |
|  Chief Compliance Officer compensation | &nbsp;&nbsp;&nbsp;&nbsp; 29684  |
|  Other expenses | &nbsp;&nbsp;&nbsp;&nbsp; 129605  |
|  **Total expenses before Adviser recoupment**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **28298738**  |
|  Expenses recouped by Adviser (See Note 4) | &nbsp;&nbsp;&nbsp;&nbsp; 125016  |
|  **Total net expenses**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **28423754**  |
|  **Net investment income**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **195925884**  |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS):**<br>|  |
|  Net realized loss on:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp;&nbsp;&nbsp; (4029113)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; (158585)  |
|  Net change in unrealized appreciation (depreciation) on:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp;&nbsp;&nbsp; (47324932)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp; 20324  |
|  **Net realized and unrealized loss**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **(51492306)**  |
|  **Net increase in net assets resulting from operations**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$144433578** |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **237** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Statement of Operations For the Period Ended April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **STONE RIDGE** <br>**DIVERSIFIED** <br>**ALTERNATIVES** <br>**FUND**  |
|  **INVESTMENT INCOME:**<br>|  |
|  Interest income | &nbsp;&nbsp; $55584680  |
|  Dividend income<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers | &nbsp;&nbsp; 4631655  |
| &nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | &nbsp;&nbsp; 8910540  |
|  **Total investment income**<br>| &nbsp;&nbsp; **69126875**  |
|  **EXPENSES**<br>|  |
|  Advisory fees (See Note 4) | &nbsp;&nbsp; 11199463  |
|  Fund accounting and administration fees | &nbsp;&nbsp; 853239  |
|  Loan servicing fees | &nbsp;&nbsp; 529229  |
|  Compliance fees | &nbsp;&nbsp; 430011  |
|  Interest expense | &nbsp;&nbsp; 384337  |
|  Investment expense | &nbsp;&nbsp; 152540  |
|  Transfer agency fees and expenses | &nbsp;&nbsp; 150472  |
|  Audit and tax related fees | &nbsp;&nbsp; 134903  |
|  Legal fees | &nbsp;&nbsp; 116836  |
|  Federal and state registration fees | &nbsp;&nbsp; 108016  |
|  Trustees fees and expenses | &nbsp;&nbsp; 78518  |
|  Custody fees | &nbsp;&nbsp; 63555  |
|  Chief Compliance Officer compensation | &nbsp;&nbsp; 29684  |
|  Other expenses | &nbsp;&nbsp; 323770  |
|  **Total expenses before Adviser recoupment**<br>| &nbsp;&nbsp; **14554573**  |
|  Expenses recouped by Adviser (See Note 4) | &nbsp;&nbsp; 934379  |
|  **Total net expenses**<br>| &nbsp;&nbsp; **15488952**  |
|  **Net investment income**<br>| &nbsp;&nbsp; **53637923**  |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS):**<br>|  |
|  Net realized gain (loss) on:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | &nbsp;&nbsp; (5874443)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers | &nbsp;&nbsp; (1756759)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp; 13196  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | &nbsp;&nbsp; 7377378  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | &nbsp;&nbsp; (207690749)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk share contracts | &nbsp;&nbsp; 302037  |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; (253058)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written options | &nbsp;&nbsp; 117168716  |
|  Net change in unrealized appreciation (depreciation) on:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | &nbsp;&nbsp; (9314812)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers | &nbsp;&nbsp; (1711745)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp; 70453  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | &nbsp;&nbsp; 1257395  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | &nbsp;&nbsp; (972505)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk share contracts | &nbsp;&nbsp; (647860)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; 1183331  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written options | &nbsp;&nbsp; (12951432)  |
|  **Net realized and unrealized loss**<br>| &nbsp;&nbsp; **(113800857)**  |
|  **Net decrease in net assets resulting from operations**<br>| &nbsp;&nbsp; **$(60162934)** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. <br>

---

| | |
|:---|:---|
| **238** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Statement of Changes in Net Assets <br>

---

| | | |
|:---|:---|:---|
|  | **STONE RIDGE HIGH** <br>**YIELD REINSURANCE** <br>**RISK PREMIUM FUND**  | **STONE RIDGE HIGH** <br>**YIELD REINSURANCE** <br>**RISK PREMIUM FUND**  |
|  | **Period Ended** <br>**April 30, 2025** <br>(Unaudited) | **Year** <br>**Ended** <br>**October 31, 2024**  |
|  **OPERATIONS:**<br>|  |  |
|  Net investment income | &nbsp;&nbsp; $195925884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $310124212  |
|  Net realized loss on:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp; (4029113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11411956)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency | &nbsp;&nbsp; (158585) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (303767)  |
|  Net change in unrealized appreciation (depreciation) on:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp; (47324932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112874941  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency | &nbsp;&nbsp; 20324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5126)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net increase in net assets resulting from operations**<br>| &nbsp;&nbsp; **144433578** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **411278304**  |
|  **DISTRIBUTIONS TO SHAREHOLDERS:**<br>|  |  |
|  Distributions — Class I | &nbsp;&nbsp; (290675501) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (355378612)  |
|  Distributions — Class M | &nbsp;&nbsp; (5432031) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12321398)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total distributions**<br>| &nbsp;&nbsp; **(296107532)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(367700010)**  |
|  **CAPITAL SHARE TRANSACTIONS:**<br>|  |  |
|  Proceeds from shares sold — Class I | &nbsp;&nbsp; 746752556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1339755185  |
|  Proceeds from shares sold — Class M | &nbsp;&nbsp; 8345160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13468407  |
|  Proceeds from shares issued to holders in reinvestment of dividends — Class I | &nbsp;&nbsp; 62171152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97311435  |
|  Proceeds from shares issued to holders in reinvestment of dividends — Class M | &nbsp;&nbsp; 2146503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6359692  |
|  Cost of shares redeemed — Class I | &nbsp;&nbsp; (414766427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (471631420)  |
|  Cost of shares redeemed — Class M | &nbsp;&nbsp; (31143714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33421679)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net increase in net assets from capital share transactions**<br>| &nbsp;&nbsp; **373505230** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **951841620**  |
|  **Total increase in net assets**<br>| &nbsp;&nbsp; **221831276** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **995419914**  |
|  **NET ASSETS:**<br>|  |  |
|  Beginning of year | &nbsp;&nbsp; 3311248942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2315829028  |
|  **End of year**<br>| &nbsp;&nbsp; **$3533080218** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$3311248942** |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **239** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Statement of Changes in Net Assets <br>

---

| | | |
|:---|:---|:---|
|  | **STONE RIDGE DIVERSIFIED** <br>**ALTERNATIVES FUND**  | **STONE RIDGE DIVERSIFIED** <br>**ALTERNATIVES FUND**  |
|  | **Period Ended** <br>**April 30, 2025** <br>(Unaudited) | **Year** <br>**Ended** <br>**October 31, 2024**  |
|  **OPERATIONS:**<br>|  |  |
|  Net investment income | &nbsp;&nbsp; $53637923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $94103498  |
|  Net realized gain (loss) on investments:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | &nbsp;&nbsp; (5874443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31632476)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers | &nbsp;&nbsp; (1756759) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp; 13196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380538  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | &nbsp;&nbsp; 7377378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5829266  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | &nbsp;&nbsp; (207690749) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282664871)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk share contracts | &nbsp;&nbsp; 302037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; (253058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1075810)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written options | &nbsp;&nbsp; 117168716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276535648  |
|  Net change in unrealized appreciation (depreciation) on:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated issuers | &nbsp;&nbsp; (9314812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13929057  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated issuers | &nbsp;&nbsp; (1711745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 933381  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | &nbsp;&nbsp; 70453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23413)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | &nbsp;&nbsp; 1257395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3936496)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | &nbsp;&nbsp; (972505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (681062)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk share contracts | &nbsp;&nbsp; (647860) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1689256  |
| &nbsp;&nbsp;&nbsp;&nbsp; Swap contracts | &nbsp;&nbsp; 1183331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (617162)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Written options | &nbsp;&nbsp; (12951432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1603976)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets resulting from operations**<br>| &nbsp;&nbsp; **(60162934)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **71165378**  |
|  **DISTRIBUTIONS TO SHAREHOLDERS:**<br>|  |  |
|  Distributions — Class I | &nbsp;&nbsp; (107158663) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (128437263)  |
|  Distributions — Class J | &nbsp;&nbsp; (5160922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4676587)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total distributions**<br>| &nbsp;&nbsp; **(112319585)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(133113850)**  |
|  **CAPITAL SHARE TRANSACTIONS:**<br>|  |  |
|  Proceeds from shares sold — Class I | &nbsp;&nbsp; 526642492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680558614  |
|  Proceeds from shares sold — Class J | &nbsp;&nbsp; 9136985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40428272  |
|  Proceeds from shares issued to holders in reinvestment of dividends — Class I | &nbsp;&nbsp; 48626658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72814486  |
|  Proceeds from shares issued to holders in reinvestment of dividends — Class J | &nbsp;&nbsp; 2841286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4053866  |
|  Cost of shares redeemed — Class I | &nbsp;&nbsp; (158738138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (343472949)  |
|  Cost of shares redeemed — Class J | &nbsp;&nbsp; (14436435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20016812)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net increase in net assets from capital share transactions**<br>| &nbsp;&nbsp; **414072848** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **434365477**  |
|  **Total increase in net assets**<br>| &nbsp;&nbsp; **241590329** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **372417005**  |
|  **NET ASSETS:**<br>|  |  |
|  Beginning of year | &nbsp;&nbsp; 1422994713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050577708  |
|  **End of year**<br>| &nbsp;&nbsp; **$1664585042** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$1422994713** |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. <br>

---

| | |
|:---|:---|
| **240** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Statement of Cash Flows For the Period Ended April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **Stone Ridge High Yield** <br>**Reinsurance Risk Premium Fund**  |
|  **CASH FLOWS FROM OPERATING ACTIVITIES**<br>|  |
|  Net increase in net assets resulting from operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $144433578  |
|  Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized loss on investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51354045  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized loss on foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization and accretion of premium and discount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1321094)  |
|  Changes in assets and liabilities:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9437  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (458412)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15334  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to Custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31555)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to Trustees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for Chief Compliance Officer compensation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6057)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued distribution fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3473)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (473123)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to Adviser | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270226  |
|  Purchases of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (994596752)  |
|  Proceeds from sale of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513789236  |
|  Proceeds from cost adjustments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097235  |
|  Net purchases and sales of short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92767612  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash used in operating activities**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(193015489)**  |
|  **CASH FLOWS FROM FINANCING ACTIVITIES:**<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from shares issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754562164  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment on shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (348355791)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash distributions to shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (231789877)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71880177  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51921202)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash provided by financing activities**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **194375471**  |
|  Effect of exchange rate changes on cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138261) |
|  Net increase in cash and restricted cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1221721  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and restricted cash, beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165706  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash and restricted cash, end of year**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$1387427**  |
|  **Supplemental Disclosures of Cash Flow and Non-Cash Information:**<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinvested distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $64317655  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash paid for interest on reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(243401)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment in-kind on shares redeemed by Affiliate (see Note 9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(88203504) |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **241** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Statement of Cash Flows Period Ended April 30, 2025 (Unaudited) <br>

---

| | |
|:---|:---|
|  | **Stone Ridge Diversified** <br>**Alternatives Fund**  |
|  **CASH FLOWS FROM OPERATING ACTIVITIES**<br>|  |
|  Net decrease in net assets resulting from operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(60162934)  |
|  Adjustments to reconcile net decrease in net assets resulting from operations to net cash used in <br>operating activities:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized loss on investments: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112912001  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain on foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83649) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization and accretion of premium and discount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7721517)  |
|  Changes in assets and liabilities:<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1737829)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (346428)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108561  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to Trustees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2827)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for Chief Compliance Officer compensation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (159079)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376757  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable to Adviser | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693577  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due to Brokers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3336417  |
|  Purchases of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (388507003)  |
|  Proceeds from sale of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145108342  |
|  Proceeds from cost adjustments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20439888  |
|  Net purchases and sales of short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (151066885)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash used in operating activities**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(326812924)**  |
|  **CASH FLOWS FROM FINANCING ACTIVITIES:**<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from shares issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535554710  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment on shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (172248975)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash distributions to shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60851641)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22268675  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on reverse repurchase agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29380671)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash provided by financing activities**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **295342098**  |
|  Effect of exchange rate changes on cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83649 |
|  Net decrease in cash and restricted cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31387177)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and restricted cash, beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159643770  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash and restricted cash, end of year**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$128256593**  |
|  **Supplemental Disclosures of Cash Flow and Non-Cash Information:**<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinvested distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $51467944  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash paid during the period for interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(464669)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption in-kind on investment in Affiliate (see Note 9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $88203504  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments acquired in-kind on redemption from Affiliate (see Note 9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(88203504) |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. <br>

---

| | |
|:---|:---|
| **242** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Financial Highlights April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PER SHARE DATA:** | **PER SHARE DATA:** | **PER SHARE DATA:** | **PER SHARE DATA:** |
|  | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** |
|  | <br>**Net Asset** <br>**Value,** <br>**Beginning** <br>**of Period** | **Net** <br>**Investment** <br>**Income<sup>(1)</sup>**  | **Net Realized**<br>**and** <br>**Unrealized Gains** <br>(Losses) | **Total from** <br>**Investment** <br>**Operations**  |
|  **STONE RIDGE HIGH YIELD REINSURANCE RISK PREMIUM FUND—CLASS I**<br>|  |  |  |  |
|  Period Ended April 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;0.39 |
|  Year Ended October 31, 2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 |
|  Year Ended October 31, 2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;1.79<sup>(4)</sup> |
|  Year Ended October 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.99) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.55) |
|  Year Ended October 31, 2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;0.20 |
|  Year Ended October 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp; $9.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.51 |
|  **STONE RIDGE HIGH YIELD REINSURANCE RISK PREMIUM FUND—CLASS M**<br>|  |  |  |  |
|  Period Ended April 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; $9.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;0.38 |
|  Year Ended October 31, 2024 | &nbsp;&nbsp;&nbsp;&nbsp; $9.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.30 |
|  Year Ended October 31, 2023 | &nbsp;&nbsp;&nbsp;&nbsp; $8.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 |
|  Year Ended October 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp; $9.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.99) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.56) |
|  Year Ended October 31, 2021 | &nbsp;&nbsp;&nbsp;&nbsp; $9.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;0.17 |
|  Year Ended October 31, 2020 | &nbsp;&nbsp;&nbsp;&nbsp; $9.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Net investment income per share has been calculated
 based on average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Total return represents the rate that an investor
 would have earned (or lost) on an investment in the Fund (assuming the reinvestment of all dividends and distributions).

&nbsp;&nbsp;&nbsp;&nbsp;(3) Includes borrowing and investment-related expenses
 not covered by the Fund's expense limitation agreement. See Note 4.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes increase in payments by Affiliates of less
 than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Annualized.

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **243** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Financial Highlights April 30, 2025 (Unaudited) <br>

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** |
| **Distributions to Shareholders**  | **Distributions to Shareholders**  | **Distributions to Shareholders**  | | | | | | | | |
| **Net** <br>**Investment** <br>**Income** | **Net**<br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | <br>**Net**<br>**Asset** <br>**Value,**<br>**End of** <br>**Period** | <br>**Total** <br>**Return<sup>(2)</sup>**  | <br>**Net** <br>**Assets,** <br>**End of** <br>**Period**<br>**(000's)** | <br>**Ratio of** <br>**Expenses to** <br>**Average** <br>**Net Assets** <br>**(Before Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(3)</sup>** | <br>**Ratio of** <br>**Expenses to** <br>**Average** <br>**Net Assets** <br>**(After Expense**<br>**Reimbursement/**<br>**Recoupment)<sup>(3)</sup>** | <br>**Ratio of Net** <br>**Investment Income** <br>**to Average** <br>**Net Assets** <br>**(Before Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(3)</sup>** | <br>**Ratio of Net** <br>**Investment Income** <br>**to Average** <br>**Net Assets** <br>**(After Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(3)</sup>** | <br>**Portfolio** <br>**Turnover** <br>**Rate**  |
| (0.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.79) | $8.88 | &nbsp;&nbsp;&nbsp; 4.29%<sup>(5)</sup> | $3467007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.64%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.41%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.41%<sup>(6)</sup> | 18.59%<sup>(5)</sup> |
| (1.23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.23) | $9.28 | &nbsp;&nbsp;&nbsp; 15.48% | $3221833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.95% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.94% | 28.58% |
| (0.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.69) | $9.19 | &nbsp;&nbsp;&nbsp; 22.92% | $2213275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.76% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.07% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.06% | 31.98% |
| (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.37) | $8.09 | &nbsp;&nbsp;&nbsp; (6.40)% | $1420941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.72% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99% | 25.70% |
| (0.47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.47) | $9.01 | &nbsp;&nbsp;&nbsp; 2.16% | $1269044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.69% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.77% | 28.45% |
| (0.53) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.53) | $9.28 | &nbsp;&nbsp;&nbsp; 5.73% | $886011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.73% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.68% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92% | 50.26% |
| (0.77) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.77) | $8.89 | &nbsp;&nbsp;&nbsp; 4.22%<sup>(5)</sup> | $66073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.79%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.25%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.24%<sup>(6)</sup> | 18.59%<sup>(5)</sup> |
| (1.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.22) | $9.28 | &nbsp;&nbsp;&nbsp; 15.26% | $89416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.85% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.86% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.74% | 28.58%  |
| (0.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.68) | $9.20 | &nbsp;&nbsp;&nbsp; 22.93% | $102554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.81% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.98% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.97% | 31.98%  |
| (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.36) | $8.09 | &nbsp;&nbsp;&nbsp; (6.49)% | $126416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.83% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85% | 25.70%  |
| (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.45) | $9.01 | &nbsp;&nbsp;&nbsp; 1.90% | $148332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.84% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.57% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61% | 28.45%  |
| (0.51) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.51) | $9.29 | &nbsp;&nbsp;&nbsp; 5.68% | $113008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.87% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.77% | 50.26% |

---

<br> The accompanying Notes to the Financial Statements are an integral part of these Financial Statements. (Continued) <br>

---

| | |
|:---|:---|
| **244** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Financial Highlights April 30, 2025 (Unaudited) <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **PER SHARE DATA:** | **PER SHARE DATA:** | **PER SHARE DATA:** | **PER SHARE DATA:** |
|  | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** | **Income (loss) from Investment Operations** |
|  | <br>**Net Asset** <br>**Value,** <br>**Beginning** <br>**of Period** | **Net** <br>**Investment** <br>**Income<sup>(2)(4)</sup>**  | **Net Realized**<br>**and** <br>**Unrealized Gains<sup>(4)</sup>**  | **Total from** <br>**Investment** <br>**Operations<sup>(4)</sup>**  |
|  **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND—CLASS I**<br>|  |  |  |  |
|  Period Ended April 30, 2025 | &nbsp;&nbsp;&nbsp; $11.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36 | (0.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.33) |
|  Year Ended October 31, 2024 | &nbsp;&nbsp;&nbsp; $12.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.87 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.57 |
|  Year Ended October 31, 2023 | &nbsp;&nbsp;&nbsp; $10.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.74 | 1.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53<sup>(8)</sup> |
|  Year Ended October 31, 2022 | &nbsp;&nbsp;&nbsp; $11.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.15) |
|  Year Ended October 31, 2021 | &nbsp;&nbsp;&nbsp; $10.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.09 |
|  Period Ended October 31, 2020<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; $10.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 | 0.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.42 |
|  **STONE RIDGE DIVERSIFIED ALTERNATIVES FUND—CLASS J\***<br>|  |  |  |  |
|  Period Ended April 30, 2025 | &nbsp;&nbsp;&nbsp; $11.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | (0.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.33) |
|  Year Ended October 31, 2024 | &nbsp;&nbsp;&nbsp; $12.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.84 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.53 |
|  Year Ended October 31, 2023 | &nbsp;&nbsp;&nbsp; $10.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.67 | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49 |
|  Year Ended October 31, 2022 | &nbsp;&nbsp;&nbsp; $11.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.22 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.18) |
|  Year Ended October 31, 2021 | &nbsp;&nbsp;&nbsp; $10.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 | 0.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.04 |
|  Period Ended October 31, 2020<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; $10.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 | 0.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.42 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Fund commenced operations on May 1, 2020.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Net investment income (loss) per share has been
 calculated based on average shares outstanding during the period.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Total return represents the rate that an investor
 would have earned (or lost) on an investment in the Fund (assuming the reinvestment of all dividends and distributions).

&nbsp;&nbsp;&nbsp;&nbsp;(4) Per share amounts include income and expenses of
 the Stone Ridge Diversified Alternatives Fund, which are shown on the Fund's Statement of Operations. Amounts do not include the
 Fund's proportionate share of the income and expenses of the underlying investee funds.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Not annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Includes investment-related expenses not covered
 by the Fund's expense limitation agreement. See Note 4.

&nbsp;&nbsp;&nbsp;&nbsp;(8) Includes increase in payments by Affiliates of less
 than $0.01.

\* On January 22, 2021, the Fund's Class M shares were redesignated as Class J shares.

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. <br>

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **245** |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Consolidated Financial Highlights April 30, 2025 (Unaudited) <br>

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** | **SUPPLEMENT DATA AND RATIOS:** |
| **Distributions to Shareholders**  | **Distributions to Shareholders**  | **Distributions to Shareholders**  | **Distributions to Shareholders**  | | | | | | | | |
| **Net** <br>**Investment** <br>**Income** | **Net**<br>**Realized** <br>**Gains** | **Return** <br>**of Capital** | **Total** <br>**Distributions** | <br>**Net**<br>**Asset** <br>**Value,**<br>**End of** <br>**Period** | <br>**Total** <br>**Return<sup>(3)</sup>**  | <br>**Net** <br>**Assets,** <br>**End of** <br>**Period** <br>**(000's)** | <br>**Ratio of** <br>**Expenses to** <br>**Average** <br>**Net Assets** <br>**(Before Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(7)</sup>** | <br>**Ratio of** <br>**Expenses to** <br>**Average** <br>**Net Assets** <br>**(After Expense**<br>**Reimbursement/**<br>**Recoupment)<sup>(7)</sup>** | <br>**Ratio of Net** <br>**Investment Income** <br>(Loss) to Average <br>**Net Assets** <br>**(Before Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(7)</sup>** | <br>**Ratio of Net** <br>**Investment Income** <br>(Loss) to Average <br>**Net Assets** <br>**(After Expense** <br>**Reimbursement/**<br>**Recoupment)<sup>(7)</sup>** | <br>**Portfolio** <br>**Turnover** <br>**Rate** |
| (0.87) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.87) | $10.09 | (3.28)%<sup>(5)</sup> | $1605881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.85%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.97%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.98%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.86%<sup>(6)</sup> | 19.43%<sup>(5)</sup> |
| (1.37) | &nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1.59) | $11.29 | 5.59% | $1354572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.04% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.07% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.94% | 35.60%  |
| (0.11) | &nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.33) | $12.31 | 25.59% | $1005021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.87% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.77% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.47% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.57% | 21.62%  |
| (0.78) | &nbsp;&nbsp;&nbsp; (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.93) | $10.11 | (1.51)% | $420024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.53% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.27% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.41% | 24.56%  |
| (0.26) | &nbsp;&nbsp;&nbsp; (0.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.32) | $11.19 | 10.70% | $201434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.15% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.28% | 33.34%  |
|  — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | $10.42 | 4.20%<sup>(5)</sup> | $20261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.57%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.04%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -0.80%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.73%<sup>(6)</sup> | 28.54%<sup>(5)</sup>  |
| (0.85) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.85) | $10.03 | (3.34)%<sup>(5)</sup> | $58704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.14% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.26%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.53%<sup>(6)</sup> | 19.43%<sup>(5)</sup> |
| (1.33) | &nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1.55) | $11.21 | 5.16% | $68423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.34% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.37% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.71% | 35.60%  |
| (0.09) | &nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.31) | $12.23 | 25.29% | $45556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.03% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10% | 21.62%  |
| (0.77) | &nbsp;&nbsp;&nbsp; (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.92) | $10.05 | (1.80)% | $31569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.83% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.57% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.85% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.11% | 24.56%  |
| (0.25) | &nbsp;&nbsp;&nbsp; (0.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (0.31) | $11.15 | 10.25% | $13115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.46% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -0.19% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70% | 33.34%  |
|  — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | $10.42 | 4.20%<sup>(5)</sup> | $5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.64%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.14%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -0.87%<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.63%<sup>(6)</sup> | 28.54%<sup>(5)</sup> |

---

<br> The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. <br>

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| **246** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

1. Organization

Stone Ridge Trust (the "Trust") was organized as a Delaware statutory trust on September 28, 2012 and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company issuing shares in multiple series, each series representing a distinct portfolio with its own investment objectives and policies. As of April 30, 2025, the Stone Ridge High Yield Reinsurance Risk Premium Fund (the "High Yield Reinsurance Fund") and the Stone Ridge Diversified Alternatives Fund (the "Diversified Alternatives Fund") were each series of the Trust. The High Yield Reinsurance Fund is non-diversified, while the Diversified Alternatives Fund is diversified. The High Yield Reinsurance Fund commenced operations on February 1, 2013. The Diversified Alternatives Fund commenced operations on May 1, 2020. The High Yield Reinsurance Fund offers two classes of shares to investors: Class I shares, with no front-end or back-end sales charges, and no 12b-1 fees; and Class M shares, with no front-end or back-end sales charges, and a 0.15% 12b-1 fee. The Diversified Alternatives Fund offers two classes of shares to investors: Class I shares and Class J shares, with no front-end or back-end sales charges, and no 12b-1 fees; for Class J shares, unlike Class I shares, intermediary fees are paid out of the Fund's Class J shares' assets on an ongoing basis. The Funds do not charge redemption fees. There are an unlimited number of authorized shares.

The investment objective of the High Yield Reinsurance Fund is to seek a high level of total return consisting of income and preservation of capital. The High Yield Reinsurance Fund pursues its investment objective by investing primarily in reinsurance-related securities, including event-linked bonds, preference shares or participation notes issued in connection with quota shares ("Quota Share Notes"), and, to a lesser extent, preference shares or participation notes issued in connection with industry loss warranties ("ILW Notes"), event-linked swaps, equity securities (publicly or privately offered) or the derivatives of equity securities of companies in the reinsurance and insurance industry (collectively, "reinsurance-related securities"). The investment objective of the Diversified Alternatives Fund is to seek total return. The Diversified Alternatives Fund pursues its investment objective by generating income from diverse investment strategies that have potential for attractive returns such as reinsurance, market risk transfer, style premium investing, alternative lending and single family real estate.

The consolidated financial statements include the account of Stone Ridge Diversified Alternatives Sub Fund Ltd (the "Subsidiary"), which is a wholly-owned and controlled subsidiary of the Diversified Alternatives Fund. Reference made within this report to schedules of investments, statements of operations or statements of assets and liabilities refer to Consolidated Schedule of Investments, Consolidated Statement of Operations or Consolidated Statement of Assets and Liabilities for the Diversified Alternatives Fund. All intercompany accounts and transactions have been eliminated in consolidation. The Subsidiary gains exposure to the commodities markets by investing in commodity-linked derivatives such as commodity-linked futures, options and swaps. As of April 30, 2025 the Subsidiary's net assets were $188,790,201, which represented 11.3% of the Diversified Alternatives Fund's net assets.

2. Summary of Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their financial statements. The financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America ("GAAP"). The Funds are investment companies and apply specific accounting and financial reporting requirements under Financial Accounting Standards Board ("FASB") 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 each 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 Funds (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.

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| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **247** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

Listed below is a summary of certain of the methods generally used currently to value investments of each 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 Funds typically utilize 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.

The Diversified Alternatives Fund's holdings in whole loans, securitizations and certain other types of alternative lending-related securities, and the Diversified Alternatives Fund's holdings in mortgage loans, mezzanine loans and certain other types of single-family real estate debt investments, are typically fair valued based on prices provided by a third-party pricing service. Each loan and fractional loan is fair valued using inputs that take into account individual borrower-level data (e.g., payment history) that is updated periodically to reflect new information regarding the borrower or loan.

Non-prime money market funds and cash sweep programs are generally valued at amortized cost which approximates fair value.

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.

Reverse repurchase agreements are accounted for at amortized cost, which approximates fair value. Reverse repurchase agreements are categorized as Level 2 within the fair value hierarchy.

For investments in investment companies (other than non-prime money market funds) that are registered under 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.

The Diversified Alternatives Fund's holdings in private funds are fair valued based on valuations of the Diversified Alternatives Fund's interests in such private funds provided by the managers of such private funds or their agents. Valuations will be provided to the Diversified Alternatives Fund on a monthly or quarterly basis based on the interim unaudited financial statements of such private funds, and, therefore, will be estimates subject to adjustment (upward or downward) upon the completion of the audit of such financial statements and may fluctuate as a result. The Diversified Alternatives Fund will perform an independent review of such valuations and will consider all relevant information, including the reliability of the pricing information provided by the managers of the private funds. The Diversified Alternatives Fund may conclude, in certain circumstances, that the valuation provided by the manager of a private fund is not indicative of what actual fair value would be in an active, liquid or established market. In those circumstances, the Diversified Alternatives Fund may value its interests in the private fund at a discount or a premium to the valuation it receives from the private fund. Additionally, between the monthly or quarterly dates on which such private fund provides a net asset value, the valuation of the Diversified Alternatives Fund's interest in such private fund may be adjusted more frequently based on the estimated total return that such private fund will generate during such period and other general market or private fund-specific changes the Adviser is aware of. At the end of the month or quarter, as applicable, each private fund's net asset value is adjusted based on the actual income and appreciation or depreciation realized by such private fund when the monthly or quarterly valuations and income are reported.

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| **248** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

Equity securities (other than insurance-linked securities that are valued pursuant to the valuation methods described above) are valued at the last sale, official close or if there are no reported sales at the mean between the bid and asked price on the primary exchange on which they are traded. The values of the Funds' investments in publicly-traded foreign equity securities generally will be the closing or final trading prices in the local trading markets but may be adjusted based on values determined by a pricing service using pricing models designed to estimate changes in the values of those securities between the times in which the trading in those securities is substantially completed and the close of the New York Stock Exchange ("NYSE").

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, swaps, and forwards, 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, each 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 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 Funds determine 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 a 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 a Fund.

A substantial portion of the Funds' 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 a 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 a 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 a Fund's shares may change on days when an investor is not able to purchase, redeem or exchange shares. The calculation of a Fund's NAV may not take place contemporaneously with the determination of the prices of foreign securities used in NAV calculations.

The Funds adhere 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;

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| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **249** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

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.

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 April 30, 2025. The transfers from Level 3 to Level 2 occurred because previously unobservable market data became available as of April 30, 2025. The following table summarizes the inputs used to value the Funds' investments as of April 30, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
|  **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL**  |
|  **High Yield Reinsurance Fund**<br>|  |  |  |  |
|  **Assets**<br>|  |  |  |  |
|  Event-Linked Bonds<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp; $— | $8774666 | &nbsp;&nbsp;&nbsp; $— | $8774666  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp; — | 27543696 | &nbsp;&nbsp;&nbsp; — | 27543696  |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp;&nbsp; — | 54740250 | &nbsp;&nbsp;&nbsp; 1642632 | 56382882  |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | 2498807 | &nbsp;&nbsp;&nbsp; — | 2498807  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global | &nbsp;&nbsp;&nbsp; — | 228093586 | &nbsp;&nbsp;&nbsp; 4925669 | 233019255  |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Britain | &nbsp;&nbsp;&nbsp; — | 28451376 | &nbsp;&nbsp;&nbsp; — | 28451376  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jamaica | &nbsp;&nbsp;&nbsp; — | 23841062 | &nbsp;&nbsp;&nbsp; — | 23841062  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; — | 81522676 | &nbsp;&nbsp;&nbsp; — | 81522676  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp; — | 52693340 | &nbsp;&nbsp;&nbsp; — | 52693340  |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp; — | 10057993 | &nbsp;&nbsp;&nbsp; — | 10057993  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; — | 2457510911 | &nbsp;&nbsp;&nbsp; 8487388 | 2465998299  |
|  Total Event-Linked Bonds | &nbsp;&nbsp;&nbsp; — | 2975728363 | &nbsp;&nbsp;&nbsp; 15055689 | 2990784052  |
|  Quota Shares and Other Reinsurance-Related Securities<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Participation Notes<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 60018909 | 60018909  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preference Shares<sup>(1)</sup><br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 378339058 | 378339058  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 12879719 | 12879719  |
|  Total Quota Shares and Other Reinsurance-Related Securities | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 451237686 | 451237686  |
|  Money Market Funds | &nbsp;&nbsp;&nbsp; 107044451 |  | &nbsp;&nbsp;&nbsp; — | 107044451  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Assets**<br>| &nbsp;&nbsp;&nbsp; **$107044451** | **$2975728363** | &nbsp;&nbsp;&nbsp; **$466293375** | **$3549066189**  |
|  **Diversified Alternatives Fund**<br>|  |  |  |  |
|  **Assets**<br>|  |  |  |  |
|  Asset-Backed Securities | &nbsp;&nbsp;&nbsp; $— | $— | &nbsp;&nbsp;&nbsp; $202163608 | $202163608  |
|  Event Linked Bonds<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp;&nbsp; — | 1765069 | &nbsp;&nbsp;&nbsp; — | 1765069  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp;&nbsp; — | 5392539 | &nbsp;&nbsp;&nbsp; — | 5392539  |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp;&nbsp; — | 7969744 | &nbsp;&nbsp;&nbsp; — | 7969744  |
| &nbsp;&nbsp;&nbsp;&nbsp; France | &nbsp;&nbsp;&nbsp; — | 351110 | &nbsp;&nbsp;&nbsp; — | 351110  |
| &nbsp;&nbsp;&nbsp;&nbsp; Global | &nbsp;&nbsp;&nbsp; — | 36453766 | &nbsp;&nbsp;&nbsp; 724099 | 37177865  |
| &nbsp;&nbsp;&nbsp;&nbsp; Great Britain | &nbsp;&nbsp;&nbsp; — | 4431923 | &nbsp;&nbsp;&nbsp; — | 4431923  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jamaica | &nbsp;&nbsp;&nbsp; — | 4111979 | &nbsp;&nbsp;&nbsp; — | 4111979  |

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| **250** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

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| | | | | |
|:---|:---|:---|:---|:---|
|  **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | &nbsp;&nbsp;&nbsp; $— | $12714675 | &nbsp;&nbsp;&nbsp; $— | $12714675  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp;&nbsp; — | 8501781 | &nbsp;&nbsp;&nbsp; — | 8501781  |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand | &nbsp;&nbsp;&nbsp; — | 2010990 | &nbsp;&nbsp;&nbsp; — | 2010990  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; — | 421380991 | &nbsp;&nbsp;&nbsp; 1413789 | 422794780  |
|  Total Event-Linked Bonds | &nbsp;&nbsp;&nbsp; — | 505084567 | &nbsp;&nbsp;&nbsp; 2137888 | 507222455  |
|  Investment Companies - Open End | &nbsp;&nbsp;&nbsp; 36351510 |  | &nbsp;&nbsp;&nbsp; — | 36351510  |
|  Quota Shares and Other Reinsurance-Related Securities<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Participation Notes<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 38599571 | 38599571  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preference Shares<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 60146279 | 60146279  |
|  Purchased Options | &nbsp;&nbsp;&nbsp; 5658468 | 1002158 | &nbsp;&nbsp;&nbsp; — | 6660626  |
|  Money Market Funds | &nbsp;&nbsp;&nbsp; 83523616 |  | &nbsp;&nbsp;&nbsp; — | 83523616  |
|  U.S. Treasury Bills | &nbsp;&nbsp;&nbsp; — | 567055637 | &nbsp;&nbsp;&nbsp; — | 567055637  |
|  Whole Loans<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Loans<sup>(1)(2)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 55837884 | 55837884  |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Business Loans<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 20859980 | 20859980  |
| &nbsp;&nbsp;&nbsp;&nbsp; Student Loans<sup>(1)</sup> | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 35243 | 35243  |
|  Total Whole Loans | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 76733107 | 76733107  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Assets**<br>| &nbsp;&nbsp;&nbsp; **$125533594** | **$1073142362** | &nbsp;&nbsp;&nbsp; **$379780453** | **$1578456409**  |
|  **Liabilities**<br>|  |  |  |  |
|  Written Options | &nbsp;&nbsp;&nbsp; $50050234 | $423568 | &nbsp;&nbsp;&nbsp; $— | $50473802  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Liabilities**<br>| &nbsp;&nbsp;&nbsp; **$50050234** | **$423568** | &nbsp;&nbsp;&nbsp; **$—** | **$50473802**  |
|  **Other Financial Instruments\***<br>|  |  |  |  |
|  Unrealized appreciation on forward currency contracts | &nbsp;&nbsp;&nbsp; $— | $12570163 | &nbsp;&nbsp;&nbsp; $— | $12570163  |
|  Unrealized depreciation on forward currency contracts | &nbsp;&nbsp;&nbsp; — | (12803906) | &nbsp;&nbsp;&nbsp; — | (12803906)  |
|  Unrealized appreciation on futures contracts | &nbsp;&nbsp;&nbsp; 12718043 |  | &nbsp;&nbsp;&nbsp; — | 12718043  |
|  Unrealized depreciation on futures contracts | &nbsp;&nbsp;&nbsp; (14789598) |  | &nbsp;&nbsp;&nbsp; — | (14789598)  |
|  Unrealized appreciation on risk share contracts | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1041396 | 1041396  |
|  Unrealized depreciation on swap contracts | &nbsp;&nbsp;&nbsp; — | 727435 | &nbsp;&nbsp;&nbsp; — | 727435  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Other Financial Instruments**<br>| &nbsp;&nbsp;&nbsp; **$(2071555)** | **$493692** | &nbsp;&nbsp;&nbsp; **$1041396** | **$(536467)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) For further security characteristics, see the Funds'
 Schedules of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Includes Level 3 investments with a value of zero.

\* These instruments are reflected at the unrealized appreciation (depreciation) on the instrument.

Below is a reconciliation that details the activity of securities in Level 3 during the period ended April 30, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | **High Yield Reinsurance Fund** | **High Yield Reinsurance Fund** | **High Yield Reinsurance Fund** |
|  | **Event-Linked Bonds** | **Participation Notes** | **Preference Shares** |
|  **Beginning Balance - November 1, 2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12565733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $70113192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $342949634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Acquisitions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9930098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55881889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60333413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dispositions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7999130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66934646) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (724870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6144717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4392747) |
| &nbsp;&nbsp;&nbsp;&nbsp; Return of capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1097235) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1197698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5186243) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6574288) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3192670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (711114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  **Ending Balance - April 30, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$15055689** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$60018909** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$391218777** |

---

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| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **251** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** | **Diversified Alternatives Fund** |
|  | **Asset-**<br>**Backed** <br>**Securities** | **Event-**<br>**Linked** <br>**Bonds** | **Participation** <br>**Notes** | **Preference** <br>**Shares** | **Risk Share**<br>**Contracts** | **Whole** <br>**Loan-**<br>**Consumer** <br>**Loans** | **Whole** <br>**Loan-** <br>**Small** <br>**Business** <br>**Loans** | **Whole** <br>**Loan-** <br>**Student** <br>**Loans**  |
|  **Beginning Balance - November 1, 2024** | $118750272 | $2246229 | &nbsp;&nbsp;&nbsp;&nbsp; $40459738 | &nbsp;&nbsp;&nbsp; $57044707 | &nbsp;&nbsp;&nbsp; $1689256 | $48841392 | $9056667 | &nbsp;&nbsp;&nbsp; $37165  |
| &nbsp;&nbsp;&nbsp;&nbsp; Acquisitions | 101513002 | 1591627 | &nbsp;&nbsp;&nbsp;&nbsp; 35490328 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | 22930313 | 29268268 | &nbsp;&nbsp;&nbsp; 82  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dispositions | (20950513) | (1921146) | &nbsp;&nbsp;&nbsp;&nbsp; (35507389) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (302037) | (12893437) | (17031336) | &nbsp;&nbsp;&nbsp; (6479)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) | 327718 | 8576 | &nbsp;&nbsp;&nbsp;&nbsp; 1963741 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 302037 | (2816936) | (9983) | &nbsp;&nbsp;&nbsp;&nbsp;(213)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Return of capital |  |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2523129 | (375129) | &nbsp;&nbsp;&nbsp;&nbsp; (3806847) | &nbsp;&nbsp;&nbsp; 3101572 | &nbsp;&nbsp;&nbsp; (647860) | (223448) | (423636) | &nbsp;&nbsp;&nbsp; 4688  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 |  | 587731 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp; —  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp; —  |
|  **Ending Balance - April 30, 2025**<br>| **$202163608** | **$2137888** | &nbsp;&nbsp;&nbsp;&nbsp; **$38599571** | &nbsp;&nbsp;&nbsp; **$60146279** | &nbsp;&nbsp;&nbsp; **$1041396** | **$55837884** | **$20859980** | &nbsp;&nbsp;&nbsp; **$35243** |

---

As of April 30, 2025, the change in unrealized appreciation (depreciation) on Level 3 positions held in the High Yield Reinsurance Fund was $(10,344,639) for Event-Linked Bonds, $(5,442,098) for Participation Notes, and $(6,574,288) for Preference Shares. As of April 30, 2025, the change in unrealized appreciation (depreciation) on positions held in the Diversified Alternatives Fund was $2,207,623 for Asset-Backed Securities, $(2,586,520) for Event-Linked Bonds, $(2,252,355) for Participation Notes, $3,101,573 for Preference Shares, $(647,860) for Risk Share Contracts, $(2,424,637) for Whole Loan- Consumer Loans, $(358,045) for Whole Loan- Small Business Loans, and $4,688 for Whole Loan- Student Loans.

Unobservable inputs for participation notes and preference shares included 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 and preference shares are monitored daily for significant events that could affect the value of the instruments. The value of asset-backed securities is determined by the forecast performance of alternative lending loans and single-family rental homes in each security's respective underlying asset pool and the priority the security has with respect to the cash flows of such assets. Because the securities have exposure to the underlying loans and homes, any deterioration of the assets (indicated through higher prepayment, default, severity and discount rates) may result in a markdown of fair values.

The value of risk share contracts held by the Fund are determined using a discounted cash flow framework that takes into account the underlying loans pertaining to each contract's actual losses as of April 30, 2025 and estimated loss forecasts through each contract's maturity date. The loss forecasts are based on industry and platform historical loan performance. Higher expectations of losses relative to initial expected losses (subject to a cap), due to factors such as rising delinquencies within each contract vintage or a deteriorating macroeconomic environment, would result in an increase in a contract's unrealized gain.

Whole Loans are valued using a discounted cash flow framework that takes into account the original purchase price, the scheduled loan payments, and forecast losses. The loss and discount rate forecasts are based on industry and platform historical loan performance, as well as evaluation of the current underwriting environment. Higher expectations of losses and higher discount rates, due to factors such as rising delinquencies on a platform's loans or a deteriorating macroeconomic environment, would result in a markdown of fair values.

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|:---|:---|
| **252** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

The following table summarizes the quantitative inputs used for investments categorized as Level 3 of the fair value hierarchy as of April 30, 2025.

**High Yield Reinsurance Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Type of Security** | **Industry** | **Fair Value at** <br>**4/30/2025** | **Valuation** <br>**Techniques** | **Unobservable Inputs** | **Range** | **Weighted** <br>**Average<sup>(1)</sup>**  |
|  Participation Notes | Financial Services | &nbsp;&nbsp;&nbsp; $40026075 | Insurance industry <br>model | Estimated losses: | $2.0MM - $8.4MM | $7.3MM  |
|  Participation Notes | Financial Services | &nbsp;&nbsp;&nbsp; $40026075 | Insurance industry <br>model | Estimated premium earned: | $3.4MM - $10.8MM | $10.0MM  |
|  Preference Shares | Financial Services | &nbsp;&nbsp;&nbsp; $323595184 | Insurance industry <br>model | Estimated losses: | $0.1MM - $49.4MM | $19.7MM  |
|  Preference Shares | Financial Services | &nbsp;&nbsp;&nbsp; $323595184 | Insurance industry <br>model | Estimated premium earned: | $0.4MM - $48.0MM | $24.4MM |

---

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 $15,055,689 for Event-Linked Bonds, $19,992,834 for Participation Notes, and $67,623,593 for Preference Shares.

**Diversified Alternatives Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Type of Security** | **Industry** | **Fair Value at** <br>**4/30/2025** | **Valuation** <br>**Techniques** | **Unobservable Inputs** | **Range** | **Weighted** <br>**Average<sup>(1)</sup>**  |
|  Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $202163608 | Discounted Cash Flow | Constant Prepayment Rate: | 0.00% - 33.60% | 8.42%  |
|  Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $202163608 | Discounted Cash Flow | Constant Default Rate: | 0.00% - 48.18% | 9.35%  |
|  Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $202163608 | Discounted Cash Flow | Severity: | 84.33% - 100.00% | 91.45%  |
|  Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $202163608 | Discounted Cash Flow | Discount Rate: | 6.04% - 53.74% | 11.91%  |
|  Participation Notes | Financial Services | &nbsp;&nbsp;&nbsp; $9426382 | Insurance industry <br>model | Estimated losses: | $0.4MM - $2.0MM | $1.8MM  |
|  Participation Notes | Financial Services | &nbsp;&nbsp;&nbsp; $9426382 | Insurance industry <br>model | Estimated premium earned: | $0.4MM - $2.4MM | $2.4MM  |
|  Preference Shares | Financial Services | &nbsp;&nbsp;&nbsp; $60146279 | Insurance industry <br>model | Estimated losses: | $6.5MM - $25.2MM | $24.1MM  |
|  Preference Shares | Financial Services | &nbsp;&nbsp;&nbsp; $60146279 | Insurance industry <br>model | Estimated premium earned: | $25.8MM - $39.8MM | $38.9MM  |
|  Risk Share Contracts - Consumer Loans | Financial Services | &nbsp;&nbsp;&nbsp; $26994 | Discounted Cash Flow | Loss-Adjusted Discounted Rate: | 15.00% - 15.00% | 15.00%  |
|  Risk Share Contracts - Consumer Loans | Financial Services | &nbsp;&nbsp;&nbsp; $26994 | Discounted Cash Flow | Projected Loss Rate: | 1.43% - 10.76% | 4.43%  |
|  Risk Share Contracts - Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $1014402 | Discounted Cash Flow | Loss-Adjusted Discounted Rate: | 15.00% - 15.00% | 15.00%  |
|  Risk Share Contracts - Asset-Backed Securities | Financial Services | &nbsp;&nbsp;&nbsp; $1014402 | Discounted Cash Flow | Projected Loss Rate: | 2.04% - 2.04% | 2.04%  |
|  Whole Loans - Consumer Loans | Financial Services | &nbsp;&nbsp;&nbsp; $55837884 | Discounted Cash Flow | Loss-Adjusted Discounted Rate: | 7.79% - 9.22% | 8.28%  |
|  Whole Loans - Consumer Loans | Financial Services | &nbsp;&nbsp;&nbsp; $55837884 | Discounted Cash Flow | Projected Loss Rate: | 18.54% - 21.40% | 19.51%  |
|  Whole Loans - Small Business Loans | Financial Services | &nbsp;&nbsp;&nbsp; $20859980 | Discounted Cash Flow | Loss-Adjusted Discounted Rate: | 4.11% - 14.09% | 11.58%  |
|  Whole Loans - Small Business Loans | Financial Services | &nbsp;&nbsp;&nbsp; $20859980 | Discounted Cash Flow | Projected Loss Rate: | 1.35% - 38.99% | 5.93%  |
|  Whole Loans - Student Loans | Financial Services | &nbsp;&nbsp;&nbsp; $35243 | Discounted Cash Flow | Loss-Adjusted Discounted Rate: | 5.00% - 7.22% | 6.94%  |
|  Whole Loans - Student Loans | Financial Services | &nbsp;&nbsp;&nbsp; $35243 | Discounted Cash Flow | Projected Loss Rate: | 6.59% - 8.31% | 7.00% |

---

The Level 3 securities listed above were fair valued by the Adviser Valuation Committee using an insurance industry model or discounted cash flow 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 $2,137,888 for Event-Linked Bonds, and $29,173,189 for Participation Notes.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Weighted by relative fair value

**Derivative Transactions — The Funds may engage in derivatives for hedging and speculative purposes during the period ended April 30, 2025. The Diversified Alternatives Fund also engaged in derivatives to generate income from premiums.** 

**Futures Contracts — The Funds may purchase and sell futures contracts. The Diversified Alternatives Fund held futures contracts during the period ended April 30, 2025. The High Yield Reinsurance Fund and Diversified Alternatives Fund may use futures contracts to hedge interest rate and foreign exchange rate exposure. With futures, there is minimal counterparty credit risk to the Funds since futures are exchange-traded and the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. Upon entering into a contract, the Funds deposit and maintain as collateral, an initial margin as required by the exchange on which the transaction is effected. Pursuant to the contract the Funds agree to receive from or pay to the broker, an amount of cash equal to the daily fluctuation in value of the** 

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|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **253** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

contract. Such receipts or payments are known as variation margin and are recorded by the Funds as unrealized gains and losses and included in cash held at broker and foreign currencies held at broker on the Consolidated Statement of Assets and Liabilities of Diversified Alternatives Fund. Variation margin is settled daily. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The average notional amount of futures contracts during the period ended April 30, 2025, was as follows:

---

| | |
|:---|:---|
|  | **Diversified** <br>**Alternatives** <br>**Fund**  |
|  Total long futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; $630792799  |
|  Total short futures contracts | &nbsp;&nbsp;&nbsp;&nbsp; 701453618 |

---

**Options — The Funds may purchase and write call or put options on securities and indices and enter into related closing transactions for speculative purposes or for hedging and risk management purposes. The Diversified Alternatives Fund writes put and call options to earn premium income. The Diversified Alternatives Fund purchased and wrote call or put options during the period ended April 30, 2025. With exchange-traded options, there is minimal counterparty credit risk to the Funds since options are exchange-traded and the exchange's clearinghouse, as counterparty to all exchange-traded options, guarantees the options against default. OTC options are customized agreements between the parties. With OTC options, there is no clearinghouse guarantee against default, thus OTC options are subject to the risk that the counterparty will not fulfill its obligations under the contract. As the writer of a call option, the Funds have the obligation to sell the security at the exercise price during or at the expiration of the exercise period. As a writer of a put option, the Funds have the obligation to buy the underlying security at the exercise price during or at the expiration of the exercise period. The premium that the Fund pays when purchasing a call option or receives when writing a call option will reflect, among other things, the market price of the security, the relationship of the exercise price to the market price of the security, the relationship of the exercise price to the volatility of the security, the length of the option period and supply and demand factors. The premium is the market value of the option.** 

A purchaser (holder) of a put option pays a non-refundable premium to the seller (writer) of a put option to obtain the right to sell a specified amount of a security at a fixed price (the exercise price) during a specified period (the exercise period). Conversely, the seller (writer) of a put option, upon payment by the holder of the premium, has the obligation to buy the security from the holder of the put option at the exercise price during or at the expiration of the exercise period. When a written put option (call option) is exercised, the premium originally received decreases the cost basis of the security sold short (or increases the proceeds on the underlying security), and the Funds realize a gain or loss from the closing of the short sale (or from the sale of the security).

Options on indices are similar to options on securities, except that upon exercise, index options require cash payments and do not involve the actual purchase or sale of securities.

The average market values of purchased and written options for the period ended April 30, 2025, were as follows:

---

| | |
|:---|:---|
|  | **Diversified** <br>**Alternatives** <br>**Fund**  |
|  Purchased Options  | &nbsp;&nbsp;&nbsp;&nbsp; $8615588  |
|  Written Options  | &nbsp;&nbsp;&nbsp;&nbsp; 50977167 |

---

**Swaps — The Diversified Alternatives Fund enters into total return swaps. In a swap transaction, two parties generally agree to exchange the returns (or differentials in rates of return) earned or realized on a particular predetermined reference instrument or instruments, which can be adjusted for an interest rate factor. The gross returns to be exchanged or "swapped" between the parties are generally calculated with respect to a "notional amount" (i.e., the return on or increase in value of a particular dollar amount invested in a particular security or other asset or in a "basket" of securities representing a particular index). Other types of swap agreements may calculate the obligations of the parties to the agreement on a "net** 

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|:---|:---|
| **254** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

basis." Consequently, a party's current obligations (or rights) under a swap agreement will generally be equal only to the net amount to be paid or received under the agreement based on the relative values of the positions held by each party to the agreement (the "net amount"). The Diversified Alternatives Fund uses swaps for both speculative and hedging purposes.

The average market value of the total return swaps held during the period ended April 30, 2025, was $287,250 for long contracts and $58,829 for short contracts.

**Forward Currency Contracts — The Funds may enter into forward currency contracts for speculative purposes or for hedging and risk management purposes. The Diversified Alternatives Fund entered into forward currency contracts during the period ended April 30, 2025. When entering into a forward currency contract, in the case of a deliverable contract the Fund agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date or in the case of a non-deliverable contract to settle the equivalent in U.S. dollar. The Fund's net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date. These instruments may involve market risk from movements in currencies or credit risk from the possible inability of counterparties to meet the terms of their contracts. The average notional amount of forward currency contracts during the period ended April 30, 2025 was $857,101,309 for long contracts and $876,309,958 for short contracts.** 

**Risk Share Contracts — The Diversified Alternatives Fund has entered into risk share contracts with several alternative lending platforms. These contracts track performance of select whole loan vintages. At the end of the contract, if the current expected losses of the select whole loan vintage are greater than initial expected losses, the alternative lending platform must pay the Fund an amount equal to such excess (subject to a cap between 1.0% and 4.8% of purchased notional per vintage and with a weighted average of 3.7% ("Cap")). Accordingly, the Fund recognizes an unrealized gain throughout the life of the contract (subject to a Cap) if the vintage's current expected losses are greater than initial expected losses and recognizes a realized gain when at the contract's maturity, the vintage's actual losses are greater than initial expected losses. At the end of a subset of risk share contracts, if the current expected losses of select whole loan vintages are less than initial expected losses, the Fund must pay the alternative lending platform an amount equal to such deficit (subject to a Cap - between 1.0% and 3.3% of purchased notional per vintage and with a weighted average of 2.1%). Accordingly, the Fund recognizes an unrealized loss throughout the life of the contract (subject to a Cap) if the vintage's current expected losses are less than initial expected losses and recognizes a realized loss when at the contract's maturity, the vintage's actual losses are less than the initial expected losses. The average notional amount of risk share contracts during the period ended April 30, 2025 was $41,613,027 for long contracts.** 

The tables below reflect the values of derivative assets and liabilities as reflected in the Statement of Assets and Liabilities.

---

| | | |
|:---|:---|:---|
|  | **ASSET DERIVATIVES**  | **ASSET DERIVATIVES**  |
|  | **STATEMENT OF ASSETS AND** <br>**LIABILITIES LOCATION**  | **FAIR VALUE**  |
|  **Diversified Alternatives Fund**<br>|  |  |
|  **Forwards**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Unrealized appreciation on forward currency contracts | $12570163  |
|  **Futures**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commodity contracts | Net assets – Unrealized appreciation\* | 5517699  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | Net assets – Unrealized appreciation\* | 3557476  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Net assets – Unrealized appreciation\* | 3154089  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest rate contracts | Net assets – Unrealized appreciation\* | 488779  |
|  **Options**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | Investments, at fair value | 5711549  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Investments, at fair value | 949077  |
|  **Risk Share Contracts**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk Share Contracts | Unrealized appreciation on risk share contracts | 1041396  |
|  **Swap Contracts**<br>|  |  |
|  Foreign exchange contracts | Unrealized appreciation on swap contracts | 727435 |

---

\* Reflects cumulative unrealized appreciation of futures contracts as reported in the Consolidated Schedule of Investments.

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|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **255** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

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| | | |
|:---|:---|:---|
|  | **LIABILITY DERIVATIVES**  | **LIABILITY DERIVATIVES**  |
|  | **STATEMENT OF ASSETS AND** <br>**LIABILITIES LOCATION** | **FAIR VALUE**  |
|  **Diversified Alternatives Fund**<br>|  |  |
|  **Forwards**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Unrealized depreciation on forward currency contracts | $12803906  |
|  **Futures**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commodity contracts | Net assets – Unrealized depreciation\* | 8954583  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | Net assets – Unrealized depreciation\* | 5171167  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Net assets – Unrealized depreciation\* | 359831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest rate contracts | Net assets – Unrealized depreciation\* | 304017  |
|  **Written options**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commodity contracts | Written options, at fair value | 32677594  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | Written options, at fair value | 971287  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | Written options, at fair value | 16824921 |

---

\* Reflects cumulative unrealized appreciation of futures contracts as reported in the Consolidated Schedule of Investments.

The tables below reflect the effect of derivative instruments on the Statement of Operations for the period ended April 30, 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** | **AMOUNT OF REALIZED GAIN OR (LOSS) ON DERIVATIVES TRANSACTIONS** |
|  | **FORWARD** <br>**CURRENCY** <br>**CONTRACTS** | **FUTURES** <br>**CONTRACTS** | **PURCHASED** <br>**OPTIONS\*** | **WRITTEN** <br>**OPTIONS** | **SWAP** <br>**CONTRACTS** | **TOTAL**  |
|  **Diversified Alternatives Fund**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commodity contracts | &nbsp;&nbsp;&nbsp;&nbsp; $— | $(165476371) | &nbsp;&nbsp;&nbsp;&nbsp; $(3139840) | $136874383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $(31741828) |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | (6129374) | &nbsp;&nbsp;&nbsp;&nbsp; (2411827) | (48490430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | (57031631) |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 7377378 | (36160430) | &nbsp;&nbsp;&nbsp;&nbsp; 2171844 | 28784763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (253058) | 2173555  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest rate contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | 75426 | &nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 75426 |

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\* Realized gains (losses) on purchased options are included in realized gain (loss) on investments in unaffiliated issuers on the Consolidated Statement of Operations.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** | **CHANGE IN UNREALIZED APPRECIATION OR (DEPRECIATION) ON DERIVATIVES TRANSACTIONS** |
|  | **FORWARD** <br>**CURRENCY** <br>**CONTRACTS** | **FUTURES** <br>**CONTRACTS** | **PURCHASED** <br>**OPTIONS\*** | **WRITTEN** <br>**OPTIONS** | **RISK** <br>**SHARE** <br>**CONTRACTS** | **SWAP** <br>**CONTRACTS** | **TOTAL**  |
|  **Diversified Alternatives Fund**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Commodity contracts | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1837274 | &nbsp;&nbsp;&nbsp; $596 | $(13878720) | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | $(12040850)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3602131) | &nbsp;&nbsp;&nbsp; (2809359) | 2268141 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | (4143349)  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange contracts | &nbsp;&nbsp;&nbsp; 1257395 | &nbsp;&nbsp;&nbsp; 746438 | &nbsp;&nbsp;&nbsp; 230508 | (1340853) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1183331 | 2076819  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest rate contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 45914 | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | 45914  |
| &nbsp;&nbsp;&nbsp;&nbsp; Risk share contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp;&nbsp; (647860) | &nbsp;&nbsp;&nbsp; — | (647860) |

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\* Change in unrealized appreciation (depreciation) on purchased options are included in change in unrealized appreciation (depreciation) on investments in unaffiliated issuers on the Consolidated Statement of Operations.

(b) Offsetting on the Statement of Assets and Liabilities. FASB ASC 210-20, Disclosures about Offsetting Assets and Liabilities, requires the Fund to disclose both gross and net information for assets and liabilities related to over-the-counter derivatives, and securities lending and securities borrowing transactions that are eligible for offset or subject to an enforceable master netting or similar agreement to enable users of its financial statements to understand the effect of those arrangements on its financial position. The International Swap and Derivative Association agreements specify collateral posting arrangements. Under the agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under an agreement with a counterparty in a given account exceeds a specified threshold.

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| **256** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

The Diversified Alternatives Fund is subject to a netting arrangements, which govern the terms of certain transactions with select counterparties. The netting arrangements allow the Diversified Alternatives Fund to close out and net its total exposure to a counterparty in the event of a default with respect to all the transactions governed under a single agreement with a counterparty. The netting arrangements also specify collateral posting arrangements at prearranged exposure levels. Collateral pledged for the benefit of the Fund and/or counterparty is held in segregated accounts by the Fund's custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged.

**High Yield Reinsurance Fund** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Liabilities:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Liabilities** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Net** <br>**Amount**  |
|  **Liabilities:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Liabilities** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Financial** <br>**Instruments** | **Collateral** <br>**Pledged\***  | **Net** <br>**Amount**  |
|  Reverse Repurchase Agreements | $24958976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $24958976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(24958976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  |
|  | $24958976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $24958976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(24958976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |

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**Diversified Alternatives Fund** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Assets:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Assets** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Net** <br>**Amount**  |
|  **Assets:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Assets** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Financial** <br>**Instruments** | **Collateral** <br>**Received**  | **Net** <br>**Amount**  |
|  Forward Currency Contracts | $12570163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12570163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12570163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $—  |
|  Risk Share Contracts | 1041396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1041396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 1041396  |
|  Swap Contracts | 727435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 727435  |
|  | $14338994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $14338994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12570163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $1768831 |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Liabilities:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Liabilities** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Gross Amounts not offset in the** <br>**Consolidated Statement of Assets** <br>**and Liabilities** | **Net** <br>**Amount**  |
|  **Liabilities:** | **Gross** <br>**Amount of** <br>**Recognized** <br>**Liabilities** | **Gross Amount** <br>**Offset in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Net Amounts** <br>**Presented in the** <br>**Consolidated** <br>**Statement** <br>**of Assets** <br>**and Liabilities** | **Financial** <br>**Instruments** | **Collateral** <br>**Pledged\*** | **Net** <br>**Amount**  |
|  Forward Currency Contracts | $12803906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12803906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12570163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(233743) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  |
|  | $12803906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12803906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12570163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(233743) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |

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\* The collateral amounts may exceed the related net amounts of financial assets and liabilities presented in the statement of assets and liabilities. If this is the case, the total amount reported is limited to the net amounts of financial assets and liabilities with that counterparty. 

(c) Use of Estimates. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

(d) Indemnifications. In the normal course of business, the Funds enter into contracts that contain a variety of representations which provide general indemnifications. The Funds' maximum exposure under these arrangements cannot be known; however, the Funds expect any risk of loss to be remote.

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|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **257** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

(e) Federal Income Taxes. The Funds qualify and intend to continue to qualify as "regulated investment companies" ("RICs") under Subchapter M of the Internal Revenue Code of 1986, as amended. As RICs, the Funds will not be subject to federal income tax to the extent they distribute substantially all of their net investment income and capital gains to shareholders. Therefore, no federal income tax provision is required.

(f) Reverse Repurchase Agreements. The Funds intend to enter into reverse repurchase agreements with banks and brokers, with the Funds as the initial seller of securities to the banks or brokers. In this case, a reverse repurchase agreement involves a sale by a fund of portfolio securities concurrently with an agreement by a fund to repurchase the same securities at a later date at a fixed price. During the reverse repurchase agreement period, an individual fund continues to receive principal and interest payments on the securities. Reverse repurchase agreements involve the risk that the counterparty will become subject to bankruptcy or other insolvency proceedings or fail to return a security to a Fund. In such situations, a Fund may incur losses as a result of a possible decline in the value of the underlying security during the period while a Fund seeks to enforce its rights, a possible lack of access to income on the underlying security during this period, or expenses of enforcing its rights.

If the buyer in a reverse repurchase agreement files for bankruptcy or becomes insolvent, a fund's use of proceeds from the sale of its securities may be restricted while the other party or its trustee or receiver determines whether to honor the fund's right to repurchase the securities. Furthermore, in that situation a fund may be unable to recover the securities it sold in connection with a reverse repurchase agreement and as a result would realize a loss equal to the difference between the value of the securities and the payment it received for them. This loss would be greater to the extent the buyer paid less than the value of the securities the fund sold to it (e.g., a buyer may only be willing to pay $95 for a security with a market value of $100). A fund's use of reverse repurchase agreements also subjects the fund to interest costs based on the difference between the sale and repurchase price of a security involved in such a transaction. Additionally, reverse repurchase agreements entail the same risks as OTC derivatives. These include the risk that the counterparty to the reverse repurchase agreement may not be able to fulfill its obligations, that the parties may disagree as to the meaning or application of contractual terms, or that the instrument may not perform as expected. Reverse repurchase agreements are not considered borrowings by the Diversified Alternatives Fund for purposes of the Fund's fundamental investment restriction on borrowings because the Diversified Alternatives Fund has elected to treat reverse repurchase agreements and similar financing transactions as derivatives for purposes of Rule 18f-4 under the 1940 Act.

The gross obligations for secured borrowing by the type of collateral pledged and remaining time to maturity is as follows:

**High Yield Reinsurance Fund** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  **Reverse Repurchase Agreements** | **Overnight and** <br>**Continuous** | **Up to 30** <br>**Days** | **30-90** <br>**Days** | **Greater** <br>**than 90** <br>**Days** | **Total**  |
|  Event Linked Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | $24958976  | &nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | $24958976  |
|  **Total**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | $24958976  | &nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | $24958976 |

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(g) Event-Linked Bonds. Event-linked bonds are variable rate debt securities for which the return of principal and payment of interest are contingent on the non-occurrence of a specified trigger event(s) that leads to economic and/or human loss, such as an earthquake of a particular magnitude or a hurricane of a specific category. The most common type of event-linked bonds is known as "catastrophe" or "CAT" bonds. In most cases, the trigger event(s) will not be deemed to have occurred unless the event(s) happened in a particular geographic area and was of a certain magnitude (based on independent scientific readings) and/or caused a certain amount of actual or modeled loss. If the trigger event(s) occurs prior to a bond's maturity, the Funds may lose all or a portion of their principal and forgo additional interest. In this regard, event-linked bonds typically have a special condition that states that if the sponsor suffers a loss from a particular pre-defined catastrophe or other event that results in physical and/or economic loss, then the issuer's obligation to pay interest and/or repay the principal is either deferred or completely forgiven. For example, if the Funds hold a bond that covers a sponsor's losses due to a hurricane with a "trigger" at $1 billion and a hurricane hits causing $1 billion or more in losses to such sponsor, then the Funds will lose all or a portion of their principal invested in the bond and forgo any future interest payments. If the trigger event(s) does not occur, the Funds will recover their principal plus interest. Interest typically accrues and is paid on a quarterly basis for the specified duration of the bond, as long as the trigger event(s) does not occur. Although

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| **258** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

principal typically is repaid only on the maturity date, it may be repaid in installments, depending on the terms of the bond, as long as the trigger event(s) does not occur. The Funds may invest in event-linked bonds directly or indirectly through certain derivative instruments. The Funds may pursue other types of event-linked derivative strategies using derivative instruments that are typically contingent, or formulaically related to defined trigger events. Trigger events may include hurricanes, earthquakes and weather-related phenomena, non-natural catastrophes, such as plane crashes, or other events resulting in a specified level of physical or economic loss, such as mortality or longevity.

(h) Quota Share Notes. Investments in Quota Share Notes provide exposure to a form of proportional reinsurance in which an investor participates in the premiums and losses of a reinsurer's portfolio according to a pre-defined percentage. For example, under a 20% quota-share agreement, a special purpose vehicle ("SPV") would obtain 20% of all premiums of the subject portfolio while being responsible for 20% of all claims, and the Funds, as a holder of a Quota Share Note issued by the SPV, would be entitled to their pro rata share of the premiums received by the SPV and would be responsible for its pro rata share of the claims up to the total amount invested.

(i) ILW Notes. ILW Notes provide exposure to a transaction through which one party (typically, an insurance company or reinsurance company, or a reinsurance-related asset manager) purchases protection based on the total loss arising from a catastrophic event to the entire insurance industry rather than the losses of any particular insurer. For example, the buyer of a "$100 million limit U.S. Wind ILW attaching at $20 billion" will pay an upfront premium to a protection writer (i.e., the reinsurer or an SPV) and in return will receive $100 million if total losses to the insurance industry from a single U.S. hurricane exceed $20 billion. The industry loss ($20 billion in this case) is often referred to as the "trigger" and is reported by an independent third party after an event has occurred. The amount of protection offered by the contract ($100 million in this case) is referred to as the "limit." ILW Notes could also provide exposure to transactions linked to an index not linked to insurance industry losses, such as wind speed or earthquake magnitude and location. The Funds, as a holder of an ILW Note, would be entitled to a return linked to the premium paid by the sponsor and the occurrence or non-occurrence of the trigger event. During the period ended April 30, 2025 the Funds had no exposure to ILW Notes.

(j) Alternative Lending. The Diversified Alternatives Fund invests in alternative lending-related securities. Alternative lending, which is sometimes referred to as peer-to-peer lending, online lending or marketplace lending, is a method of financing in which an alternative lending platform facilitates the borrowing and lending of money while generally not relying on deposits for capital to fund loans. It is considered an alternative to more traditional debt financing done through a bank. There are several different models of alternative lending but, very generally, a platform typically matches consumers, small or medium-sized businesses or other types of borrowers with investors that are interested in gaining investment exposure to the loans made to such borrowers. Prospective borrowers are usually required to provide or give access to certain financial information to the platform, such as the intended purpose of the loan, income, employment information, credit score, debt-to-income ratio, credit history (including defaults and delinquencies) and home ownership status, and, in the case of small business loans, business financial statements and personal credit information regarding any guarantor, some of which information is made available to prospective lenders. Often, platforms charge fees to borrowers to cover these screening and administrative costs. Based on this and other relevant supplemental information, the platform usually assigns its own credit rating to the borrower and sets the interest rate for the requested borrowing. Platforms then post the borrowing requests online and investors may choose among the loans, based on the interest rates the loans are expected to yield less any servicing or origination fees charged by the platform or others involved in the lending arrangement, the background data provided on the borrowers, and the credit rating assigned by the platform. In some cases, a platform partners with a bank to originate a loan to a borrower, after which the bank sells the loan to the platform or directly to the investor; alternatively, some platforms may originate loans themselves. Some investors, including the Fund, may not review the particular characteristics of the loans in which they invest at the time of investment, but rather negotiate in advance with platforms the general criteria of the investments. Other alternative lending platforms are non-traditional intermediaries. Unlike marketplace lenders, non-traditional intermediaries do not themselves (either alone or working with a bank) originate loans. Instead, they intermediate sales of loans originated by more traditional lenders to buyers that utilize alternative sources of capital (i.e., capital other than bank deposits). Platforms may set minimum eligibility standards for borrowers to participate in alternative lending arrangements and may limit the maximum permitted borrowings. Depending on the purpose and nature of the loan, its term may, for example, be as short as six months or shorter, or as long as thirty years or longer. Set forth below is additional information about some of the Diversified Alternatives Fund's alternative lending-related investments.

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|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **259** |

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**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

(k) Whole Loans. When the Diversified Alternatives Fund invests directly or indirectly in whole loans, it typically purchases all rights, title and interest in the loans pursuant to a loan purchase agreement directly from the platform or its affiliate. The platform or a third-party servicer typically continues to service the loans, collecting payments and distributing them to investors, less any servicing fees assessed against the Fund, and the servicing entity typically will make all decisions regarding any modification, forbearance or other form of relief that may be provided to a borrower experiencing financial hardship and acceleration or enforcement of the loans following any default by a borrower. Where a platform or its affiliate acts as the loan servicer, there is typically a backup servicer in place in case that platform or affiliate ceases or fails to perform these servicing functions. The Diversified Alternatives Fund, as an investor in a whole loan, would be entitled to receive payment only from the borrower and/or any guarantor, and would not be able to recover any deficiency from the platform, except under very narrow circumstances, which may include fraud by the borrower in some cases. The whole loans in which the Diversified Alternatives Fund may invest may be secured or unsecured. Cash segregated for the purchase of whole loans, if any, is located in other assets on the Consolidated Statement of Assets and Liabilities.

(l) Loan Participations. The Diversified Alternatives Fund may invest in participation interests in whole loans, which are typically originated by an alternative lending platform in partnership with a bank or other financial institutions. When the Fund invests in participation interests, the Diversified Alternatives Fund typically purchases a fractional or full economic interest in the underlying whole loans and the originating bank retains the legal title to such loans. As with the Diversified Alternatives Fund's investments in whole loans, the alternative lending platform or a third party servicer typically continues to service the loans, collecting payments and distributing them to investors in the loan participations, less any servicing fees assessed against the Diversified Alternatives Fund, and the servicing entity typically will make all decisions regarding any modification, forbearance or other form of relief that may be provided to a borrower experiencing financial hardship and acceleration or enforcement of the loans following any default by a borrower. The servicing entity may distribute payments of principal and interest from the borrower directly to the Fund as a holder of participation interests. Alternatively, the Diversified Alternatives Fund may receive payments of principal and interest as passed through by the bank or other financial institution originating the whole loans and issuing the participation interests. The participation interests in which the Diversified Alternatives Fund invests may be in whole loans that are secured or unsecured.

(m) Pass-Through Certificates. The Diversified Alternatives Fund may invest in pass-through certificates, which are a form of asset-backed security that is backed by a pool of whole loans originated or sourced by one or more alternative lending platforms and that represents the right of the holder to receive specified distributions in respect of such whole loans; specifically, holders are entitled to receive payments on account of principal and interest payments made by borrowers on the underlying loans, as well as proceeds from the sale or liquidation of any loan underlying the pass-through certificate, net of fees, expenses and other amounts payable to the issuer, trustee, originating platform(s) or other third parties as required. Unlike many other asset-backed securities, pass-through certificates are generally not issued with multiple tranches; instead, all holders of a particular certificate share a pro rata interest in the underlying pool of whole loans and distributions with respect thereto.

(n) Asset-Backed Securities. The Diversified Alternatives Fund may invest in, and may sell certain of its alternative lending-related investments to, securitization vehicles, formed by alternative lending platforms or third parties for the purpose of acquiring alternative lending-related investments and issuing securities, the payments on which are funded by payments received on such entities' underlying investments. Such asset-backed securities, including mortgage-backed securities, may be issued in different tranches of debt and residual equity interests with different rights and preferences. The Diversified Alternatives Fund may hold any tranche of such asset-backed securities. The volume and frequency of the Diversified Alternatives Fund's sales of pools of loans to securitization vehicles may increase as a more active and reliable secondary market develops over time.

(o) Shares, Certificates, Notes or Other Securities. The Diversified Alternatives Fund may invest in shares, certificates, notes or other securities representing the right to receive principal and interest payments due on fractions of whole loans or pools of whole loans. The platform or a separate special purpose entity organized by or on behalf of the platform may hold the whole loans underlying such investments on its books and issue to the Diversified Alternatives Fund, as an investor, a share, certificate, note or other security, the payments on which track and depend upon the borrower payments on the underlying loans. As with whole loans, the platforms or third-party servicers typically continue to service the underlying loans

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| **260** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

on which the performance of such securities is based. Such securities may be linked to any of the types of whole loans in which the Diversified Alternatives Fund may invest directly. Such securities may also track fractions of a whole loan. These securities may be sold through publicly registered offerings or through unregistered private offerings.

(p) Equity Securities. The Diversified Alternatives Fund may invest directly or indirectly in equity securities of both non-U.S. and U.S. small and mid-cap companies.

(q) Debt Securities. The Diversified Alternatives Fund may have exposure to the debt securities of U.S. or non-U.S. issuers. These debt securities may have fixed or floating interest rates; may or may not be collateralized; and may be below investment grade or unrated but judged by the Adviser to be of comparable quality (debt securities that are below investment grade are commonly called "junk bonds"). The Diversified Alternatives Fund has no limits as to the maturity of debt securities in which it invests directly or indirectly. Such investments may be within any maturity range (short, medium or long) depending on the Adviser's evaluation of investment opportunities available within the debt securities market. Similarly, the Diversified Alternatives Fund has no limits as to the market capitalization range of the issuers.

(r) Distributions to Shareholders. The Funds intend to distribute to their shareholders substantially all investment company taxable income and net realized capital gains, if any, at least annually. The Funds may not declare or pay distributions to their shareholders if it does not meet asset coverage ratios under the 1940 Act. Distributions are recorded on the ex-dividend date. The Funds may periodically make reclassifications among certain of their capital accounts as a result of the characterization of certain income and realized gains determined annually in accordance with federal tax regulations that may differ from GAAP.

(s) Foreign Securities and Currency Transactions. The Funds' books and records are maintained in U.S. dollars. Foreign currency denominated transactions (i.e., market value of investment securities, assets and liabilities, purchases and sales of investment securities, and income and expenses) are translated into U.S. dollars at the current rate of exchange. The Funds do not isolate that portion of results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held.

The Funds may invest in reinsurance-related securities issued by foreign sovereigns and foreign entities that are corporations, partnerships, trusts or other types of business entities. Because the majority of reinsurance-related security issuers are domiciled outside the United States, the Funds will normally invest a significant amount of their assets in non-U.S. entities. Accordingly, the Funds may invest without limitation in securities issued by non-U.S. entities, including those in emerging market countries. Certain SPVs in which the Funds invests may be sponsored by non-U.S. insurers that are not subject to the same regulation as that to which U.S. ceding insurers are subject. Such SPVs may pose a greater risk of loss, for example due to less stringent underwriting and/or risk-retention requirements. The Funds' investments will consist primarily of event-linked bonds, Quota Share Notes and ILW Notes that provide the Funds with contractual rights under the terms of the bond issuance. While the contractual rights of such instruments are similar whether they are issued by a U.S. issuer or a non-U.S. issuer, there may be certain additional risks associated with non-U.S. issuers. For example, foreign issuers could be affected by factors not present in the United States, including expropriation, confiscatory taxation, lack of uniform accounting and auditing standards, less publicly available financial and other information, potential difficulties in enforcing contractual obligations, and increased costs to enforce applicable contractual obligations outside the United States. Fluctuations in foreign currency exchange rates and exchange controls may adversely affect the market value of the Funds' investments in foreign securities. Settlements of securities transactions in foreign countries are subject to risk of loss, may be delayed and are generally less frequent than in the United States, which could affect the liquidity of the Funds' assets.

If the Funds invest in foreign issuers by purchasing American Depositary Receipts ("ADRs") (U.S. dollar-denominated depositary receipts issued generally by banks and representing the deposit with the bank of a security of a non-U.S. issuer; ADRs are publicly traded on exchanges or over-the counter in the United States), the Funds are exposed to credit risk with respect to the issuer of the ADR, in addition to the risks of the underlying foreign securities.

(t) Allocation of Income, Expenses, Gains/Losses. Income, expenses (other than those deemed attributable to a specific share class), and gains and losses of each fund are allocated daily to each share class based upon the ratio of net assets

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| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **261** |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

represented by each class as a percentage of the net assets of each fund. Expenses deemed directly attributable to a class of shares are recorded by the specific class. Most expenses are allocated based on average net assets, with the exception of the High Yield Reinsurance Fund's 12b-1 fees, which are expensed at 0.15% of average daily net assets of the Class M shares.

(u) Other. Investment transactions are recorded on the trade date. Dividend income, less any foreign tax withheld, is recognized on the ex-dividend date and interest income is recognized on an accrual basis, including amortization/accretion of premiums or discounts. Discounts and premiums on securities purchased are amortized over the lives of the respective securities using the constant yield method. Realized gains and losses on securities sold are calculated on a first-in, first-out basis.

(v) Restricted Securities. The Funds may invest a substantial portion of their assets in securities that are restricted, but eligible for purchase and sale by certain qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933, as amended, as well as other restricted securities. Restricted securities may be resold in transactions that are exempt from registration under Federal securities laws or if the securities are publicly registered. Restricted securities may be deemed illiquid.

(w) REIT Distributions. The character of distributions received from real estate investment trusts ("REITs") held by the Funds is generally made up of net investment income, capital gains, and return of capital. It is the policy of the Funds to estimate the character of distributions received from underlying REITs based on historical data provided by the REITs. After each calendar year end, REITs report the actual tax character of these distributions. Differences between the estimated and actual amounts reported by the REITs are reflected in the Funds' records in the year in which they are reported by the REITs by adjusting related investment cost basis, capital gains and income, as necessary.

(x) Rule 18f-4. The SEC adopted regulations under the 1940 Act governing the use of derivatives and certain related instruments by registered investment companies ("Rule 18f-4"). Rule 18f-4 imposes limits on the amount of derivatives a Fund can enter into, eliminates the asset segregation framework previously used by funds to comply with Section 18 of the 1940 Act, and requires funds whose use of derivatives is greater than a limited specified amount to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. The High Yield Reinsurance Fund qualifies as a "limited derivatives user" as defined under Rule 18f-4 and as such, has adopted policies and procedures reasonably designed to manage such fund's derivatives risk to ensure the Fund's derivatives exposure remains limited. As required by Rule 18f-4, the Diversified Alternatives Fund has adopted and implemented a derivatives risk management program to govern its use of derivatives and appointed a derivatives risk manager. The derivatives risk manager is appointed by the Board and conducts periodic reviews of the derivatives risk management program and reports findings back to the Board. Rule 18f-4 restricts each Fund's ability to engage in certain derivatives transactions and may increase the costs related to the Fund's use of such derivatives transactions, which could adversely affect the value or performance of a Fund. In addition, the Diversified Alternatives Fund has elected to treat reverse repurchase agreements and similar financing transactions as derivatives for purposes of Rule 18f-4.

(y) New Accounting Pronouncements. In this reporting period, the Funds adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Fund's financial positions or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CEO of Stone Ridge Asset Management is the CODM of the Fund. The Fund represents a single operating segment, as the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocations are pre-determined in accordance with the Fund's single investment objective which is executed by the Fund's portfolio managers as a team. The financial information in the form of the Fund's Consolidated Schedule of Investments, total returns, and changes in net assets from operations, subscriptions and redemptions, which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmark and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within the Fund's consolidated financial statements. Segment assets of the Fund are reflected on the accompanying Consolidated Statements of Assets and Liabilities as "total assets".

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| **262** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

(z) Market Volatility. The value of the securities in the Funds may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short- or long-term. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the Funds and their investments, including hampering the ability of the Adviser to invest the Funds' assets as intended.

3. Federal Tax Matters

Provisions for federal income taxes or excise taxes have not been made because the Funds intend to be taxed as RICs and intend to distribute substantially all taxable income to shareholders and otherwise comply with the provisions of the Internal Revenue Code applicable to RICs. Distributions from net realized gains for book purposes may include short-term capital gains which are included as ordinary income to shareholders for tax purposes. Additionally, GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. The reclassifications have no effect on net assets or NAV per share.

For the year October 31, 2024, the effect of permanent "book/tax" reclassifications resulted in increases and decreases to components of the Funds' net assets as follows:

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| | | |
|:---|:---|:---|
|  | **Total** <br>**Distributable** <br>**Earnings/(Loss)** | **Paid In** <br>**Capital**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $339697 | $(339697)  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22531876 | (22531876)  |

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These differences primarily relate to realized foreign currency gains/(losses), investments in passive foreign investment companies and controlled foreign corporations, and non-deductible excise taxes paid.

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| | | |
|:---|:---|:---|
|  | **High Yield** <br>**Reinsurance Risk** <br>**Premium Fund** | **Diversified** <br>**Alternatives** <br>**Fund**  |
|  Tax cost of investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3372220637 | $1481914360  |
|  Unrealized appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182259006 | 73145629  |
|  Unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259269204) | (150046006)  |
|  Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (77010198) | (76900377)  |
|  Undistributed ordinary income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167039377 | 97619967  |
|  Undistributed long-term gain (capital loss carryover) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (135041888) | (70393037)  |
|  Total distributable earnings/(loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31997489 | 27226930  |
|  Other temporary differences | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27259907 | 9282399  |
|  Total accumulated gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(17752802) | $(40391048) |

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The tax character of distributions paid during the period ended October 31, 2024 was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **ORDINARY** <br>**INCOME** | **LONG-TERM** <br>**CAPITAL GAIN** | **RETURN OF** <br>**CAPITAL** | **TOTAL**  |
|  High Yield Reinsurance Fund | $367700010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $367700010  |
|  Diversified Alternatives Fund | 133113850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 133113850 |

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As of October 31, 2024 certain Funds have tax basis capital losses which may be carried forward indefinitely to offset future capital gains as shown below:

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| | | | |
|:---|:---|:---|:---|
|  | **SHORT-TERM** | **LONG-TERM** | **TOTAL**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp; $(13893077) | $(121148811) | $(135041888)  |
|  Diversified Alternatives Fund | &nbsp;&nbsp; (43018624) | (27374413) | (70393037) |

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| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **263** |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

These differences primarily relate to realized foreign currency gains/(losses), investments in passive foreign investment companies and controlled foreign corporations, treatment of realized and unrealized losses on distressed loans, redemptions in kind gains and losses, and non-deductible excise taxes paid.

There is no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken on the tax return for the fiscal year October 31, 2024, or for any other tax years which are open for exam. As of October 31, 2024, open tax years include the periods ended October 31, 2022, 2023 and 2024. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the year, the Funds did not incur any interest or penalties.

4. Agreements

(a) Investment Management Agreement. The Adviser is the Funds' investment adviser and was organized as a Delaware limited liability company in 2012. The Adviser's primary business is to provide a variety of investment management services, including an investment program for the Funds.

As compensation for its services, the Adviser is paid by the High Yield Reinsurance Fund a fee, computed daily and paid monthly in arrears, at the annual rate of 1.50% of the Fund's average daily net assets. As compensation for its services, the Adviser is paid by the Diversified Alternatives Fund a fee, computed daily and paid monthly in arrears, at the annual rate of (i) 0.00% of the Fund's average daily net assets invested in any other fund advised by the Adviser and (ii) 1.50% of the Fund's average daily net assets invested in other investments.

Through February 28, 2026 for the High Yield Reinsurance Fund, the Adviser has agreed to waive its advisory fee and/or pay or otherwise bear operating and other expenses of the Fund or classes thereof (excluding brokerage and transactional expenses, borrowing and other investment-related costs and fees including interest and commitment fees, short dividend expense, acquired fund fees and expenses, taxes, litigation and indemnification expenses, judgments and extraordinary expenses not incurred in the ordinary course of the Fund's business collectively, the ("Excluded Expenses") solely to the extent necessary to limit the Fund's total annual fund operating expenses, other than the Excluded Expenses, to 1.70% for Class I shares and 1.85% for Class M shares of the High Yield Reinsurance Fund (prior to March 1, 2022, 1.65% for Class I shares and 1.80% for class M shares). Through February 28, 2026 for the Diversified Alternatives Fund, the Adviser has agreed to waive its advisory fee and/or pay or otherwise bear operating and other expenses of the Fund or classes thereof (excluding the Fund's investment management fee, financial intermediary fees and expenses (including shareholder servicing fees and expenses, sub-transfer agency servicing fees and expenses and fees and expenses for custodial services rendered to shareholders), brokerage and transactional expenses; borrowing and other investment-related costs and fees including interest payments on borrowed funds, loan servicing fees, loan collection and administration fees and expenses; interest and commitment fees; short dividend expense; acquired fund fees and expenses; taxes; litigation and indemnification expenses; judgments; and extraordinary expenses not incurred in the ordinary course of the Fund's business (collectively, the "Excluded Diversified Alternatives Expenses")) solely to the extent necessary to limit the Diversified Alternatives Fund's total annual fund operating expenses, other than Excluded Diversified Alternatives Expenses, to 0.40% for the Class I and Class J shares of the Diversified Alternatives Fund (prior to January 22, 2021, 0.55% for the Class J shares, previously Class M shares, of the Diversified Alternatives Fund). With respect to each Fund, the Adviser is permitted to recoup in later periods expenses attributable to a Class that the Adviser has paid or otherwise borne (whether through reduction of its advisory fee or otherwise) to the extent that the expenses for the Class of shares fall below the annual limitation rate in effect at the time of the actual waiver/reimbursement and to the extent that they do not cause the Class to exceed the annual rate in effect at the time of the recoupment. However, the Adviser shall not be, and under the expense limitation agreements that were in place during the period covered by this report the Adviser was not, permitted to recoup

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| **264** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

any such fees or expenses beyond three years from the month end in which the Adviser reduced a fee or reimbursed an expense. The Adviser has waived and recouped amounts as disclosed in each Fund's Statement of Operations. As of April 30, 2025, the remaining amount of waived fees subject to be recouped in future years are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  **Fund** | **Remaining Amount** <br>**to be Recouped** <br>**(Expiring by** <br>**October 31, 2025)** | **Remaining Amount** <br>**to be Recouped** <br>**(Expiring by** <br>**October 31, 2026)** | **Remaining Amount** <br>**to be Recouped** <br>**(Expiring by** <br>**October 31, 2027)** | **Remaining Amount** <br>**to be Recouped** <br>**(Expiring by** <br>**October 31, 2028)**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |

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(b) Custodian, Administrator and Transfer Agent. The custodian to the Trust is U.S. Bank, N.A. The administrator and transfer agent to the Trust is U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services (the "Transfer Agent"), an affiliate of U.S. Bank, N.A.

(c) Distributor. Foreside Global Services, LLC (the "Distributor") serves as the Funds' distributor.

5. Distribution and Service Arrangements

Financial intermediaries may provide varying investment products, programs, platforms and accounts for the benefit of shareholders. Such intermediaries generally charge fees in connection with a variety of services, which may include (i) personal and account maintenance services, sub-transfer agency services and custodial services rendered to shareholders who are customers of the intermediary, including electronic transmission and processing of orders, electronic fund transfers between shareholders and the relevant Fund, reinvestment of distributions, settlement and reconciliation of transactions, liaising with the Transfer Agent, facilitation of electronic delivery to shareholders of Fund documentation, monitoring shareholder accounts for back-up withholding and any other special tax reporting obligations, maintenance of books and records with respect to the foregoing, and other similar services (fees for such services, "servicing fees") and/or (ii) activities or expenses primarily intended to result in the sale of shares (fees for such services, if any, "distribution fees" and, together with servicing fees, "intermediary fees"). Such fees may be based on the number of accounts or may be a percentage of the average value of accounts for which the intermediary provides services, and are intended to compensate intermediaries for their provision of services of the type that would be provided by the Transfer Agent or other service providers if the shares were registered on the books of the relevant Fund. The Funds do not believe that any portion of fees currently paid to financial intermediaries are distribution fees.

For the High Yield Reinsurance Fund, intermediary fees may be paid pursuant to a Distribution Plan ("12b-1 Plan") adopted by the Fund with respect to its Class M shares, at the maximum annual rate of 0.15% of the Fund's average daily net assets attributable to Class M. These fees are paid out of the Fund's Class M shares' assets on an ongoing basis and may be administered or facilitated by the Distributor. Because Rule 12b-1 fees are paid out of the Fund's Class M shares' assets on an ongoing basis, over time these fees will increase the cost of a shareholder's investment and may cost a shareholder more than other types of sales charges. If amounts remain from the Rule 12b-1 fees after the intermediaries have been paid, such amounts are reimbursed to the Fund. The Distributor does not retain any portion of the Rule 12b-1 fees. To the extent that there are expenses associated with shareholder services that exceed the amounts payable pursuant to the 12b-1 Plan, the Class M shares of the Fund will bear such expenses. For Class I shares of the Fund, the Adviser pays all intermediary fees.

For the Diversified Alternatives Fund, intermediary fees may be paid out of the Fund's Class J shares' assets on an ongoing basis. Because these intermediary fees are paid out of the Fund's Class J shares' assets on an ongoing basis, over time these fees will increase the cost of a shareholder's investment and may cost a shareholder more than other types of charges. For Class J shares, the Adviser pays a portion of the intermediary fees, and the Class J shares bear the remainder. For Class I shares, the Adviser pays all intermediary fees. For the period ended April 30, 2025 intermediary fees of $99,221 were paid by Class J shares.

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| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **265** |

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Notes to Financial Statements April 30, 2025 (Unaudited) <br>

6. Related Parties

Certain officers of the Trust are also employees of the Adviser. The officers, with the exception of the Chief Compliance Officer, are not compensated by the Trust. The Trust pays a portion of the Chief Compliance Officer's salary.

7. Investment Transactions

For the period ended April 30, 2025 aggregate purchases and sales of securities (excluding short-term securities) by the Funds were as follows:

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| | | |
|:---|:---|:---|
|  | **HIGH YIELD** <br>**REINSURANCE** <br>**FUND** | **DIVERSIFIED** <br>**ALTERNATIVES** <br>**FUND**  |
|  Purchases | $1004982721 | &nbsp;&nbsp;&nbsp;&nbsp; $467184222  |
|  Sales | 607157694 | &nbsp;&nbsp;&nbsp;&nbsp; 249822844 |

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8. Capital Share Transactions

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| | | |
|:---|:---|:---|
|  **High Yield Reinsurance Fund - Class I** | **Period Ended** <br>**April 30, 2025** <br>(Unaudited) | **Year Ended** <br>**October 31, 2024**  |
|  Shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82592125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147570833  |
|  Shares issued to holders in reinvestment of dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6993623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10866446  |
|  Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46301709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51929419)  |
|  Net increase in shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43284039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106507860  |
|  Shares outstanding:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347330480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240822620  |
|  End of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390614519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347330480 |

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| | | |
|:---|:---|:---|
|  **High Yield Reinsurance Fund - Class M** |  |  |
|  Shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 924001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1477986  |
|  Shares issued to holders in reinvestment of dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710008  |
|  Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3366799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3704077)  |
|  Net decrease in shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2201787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1516083)  |
|  Shares outstanding:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9631318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11147401  |
|  End of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7429531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9631318 |

---

---

| | | |
|:---|:---|:---|
|  **Diversified Alternatives Fund - Class I** |  |  |
|  Shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49445305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62418375  |
|  Shares issued to holders in reinvestment of dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4596144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6869291  |
|  Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14945849) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30952417)  |
|  Net increase in shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39095600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38335249  |
|  Shares outstanding:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120004952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81669703  |
|  End of period/year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159100552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120004952 |

---

---

| | | |
|:---|:---|:---|
|  **Diversified Alternatives Fund - Class J** |  |  |
|  Shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3761049  |
|  Shares issued to holders in reinvestment of dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383889  |
|  Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1381842) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1768905)  |
|  Net increase/decrease in shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (249065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2376033  |
|  Shares outstanding:<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6101126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3725093  |
|  End of period/year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5852061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6101126 |

---

---

| | |
|:---|:---|
| **266** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

Notes to Financial Statements April 30, 2025 (Unaudited) <br>

9. Transactions with Affiliate

The following is a summary of transactions during the period ended April 30, 2025 in which the issuers were affiliates of the fund as defined in Section (2)(a)(3) of the 1940 Act:

---

| | | | |
|:---|:---|:---|:---|
|  **Diversified Alternatives Fund<sup>(1)</sup>** |  |  |  |
|  | **Stone Ridge High** <br>**Yield Reinsurance** <br>**Risk Premium -** <br>**Class I<sup>(2)</sup>** | **Stone Ridge** <br>**Art Risk** <br>**Premium Fund -** <br>**Common Shares** | **Total**  |
|  **November 1, 2024 Balance**<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7154010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1198422 | 8352432  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $65004227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $13001000 | $78005227  |
|  **Additions**<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5559009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568182 | 6127191  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $49631655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6000000 | $55631655  |
|  **Reductions**<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10710259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 10710259  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $96756759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $96756759  |
|  **April 30, 2025 Balance**<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2002760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1766604 | 3769364  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $17879123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19001000 | $36880123  |
| &nbsp;&nbsp;&nbsp;&nbsp; Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $17784506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $18567004 | $36351510  |
|  Dividend Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $—  |
|  Realized Gain/(Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1756759) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | $(1756759)  |
|  Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1479604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(232141) | $(1711745) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The Diversified Alternatives Fund is not paying
 advisory fees on its holdings of the High Yield Reinsurance Fund or Stone Ridge Art Risk Premium Fund as the Adviser is paid an advisory
 fee from the High Yield Reinsurance Fund and Stone Ridge Art Risk Premium Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(2) On February 7, 2025, the Diversified Alternatives
 Fund redeemed 10,710,259 shares of the High Yield Reinsurance Fund with a value of $95,000,000. The redemption was satisfied with a cash
 payment in the amount of $6,796,496, and an in kind payment of securities that had a value of $88,203,504. The Diversified Alternatives
 Fund recorded a realized loss of $1,756,759 on the in kind redemption. The High Yield Reinsurance Fund recorded a realized gain of $490,773
 on the payment in kind on shares redeemed by the Diversified Alternatives Fund.

10. Financing Facility

The Funds may obtain leverage through borrowings in seeking to achieve their investment objectives. The Funds share a $125,000,000 umbrella line of credit in the form of an unsecured loan agreement with U.S. Bank National Association, which is effective November 28, 2017 through October 18, 2025. With respect to the High Yield Reinsurance Fund and the Diversified Alternatives Fund, the maximum withdrawal capacity for each Fund is 33.33% of the net market value of the assets of such Fund (not to exceed $125,000,000 outstanding across all Funds). The Funds did not borrow from the umbrella line of credit during the period ended April 30, 2025.

11. Subsequent Events Evaluation

In preparing these financial statements, the Funds have evaluated events and transactions for potential recognition or disclosure resulting from subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments.

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **267** |

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**[**TABLE OF CONTENTS**](#TOC)**

Additional Information (Unaudited) <br>

1. Shareholder Notification of Federal Tax Status

For the fiscal year ended October 31, 2024, certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:

---

| | |
|:---|:---|
|  | **PERCENTAGES**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal year October 31, 2024 was as follows:

---

| | |
|:---|:---|
|  | **PERCENTAGES**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00% |

---

The percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under Internal Revenue Section 871(k)(2)(C) for each Fund were as follows:

---

| | |
|:---|:---|
|  | **PERCENTAGES**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.02% |

---

The percentage of taxable ordinary income distributions that are designated as interest related dividends under Internal Revenue Section 871(k)(1)(C) for each Fund were as follows:

---

| | |
|:---|:---|
|  | **PERCENTAGES**  |
|  High Yield Reinsurance Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%  |
|  Diversified Alternatives Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.45% |

---

Shareholders should not use the above information to prepare their tax returns. Since the Funds' fiscal year is not the calendar year, another notification is available with respect to calendar year 2023. Such notification, which reflects the amount to be used by calendar year taxpayers on their Federal income tax returns, will be made in conjunction with shareholder year-end tax reporting in February 2024. Shareholders are advised to consult their own tax advisors with respect to the tax consequences of their investment in the Fund.

2. Availability of Quarterly Portfolio Holdings Schedules

The Funds are required to file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Part F of Form N-PORT. The Funds' filings on Part F of Form N-PORT are available without charge on the SEC's website, www.sec.gov, or upon request by calling 1.855.609.3680.

3. Proxy Voting Policies and Procedures and Proxy Voting Record

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request by calling 1.855.609.3680 and on the SEC's website, www.sec.gov. The Funds are required to file how they voted proxies related to portfolio securities during the most recent 12-month period ended June 30. The information is available without charge, upon request by calling 1.855.609.3680 and on the SEC's website, www.sec.gov.

---

| | |
|:---|:---|
| **268** | Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 |

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**[**TABLE OF CONTENTS**](#TOC)**

Additional Information (Unaudited) <br>

4. Liquidity Risk Management Program

The Funds have adopted a liquidity risk management program (the "Program") pursuant to Rule 22e-4 under the 1940 Act for the purpose of assessing and managing the Funds' liquidity risk, which is the risk that a Fund could not meet requests to redeem shares issued by the Fund without significant dilution of remaining investors' interests in the Fund. The Board has designated the Adviser to administer the Program, and the Adviser has established a Liquidity Risk Management Committee to be responsible for the Program's operation. Under the Program, the Liquidity Risk Management Committee manages the Funds' liquidity risk by monitoring the liquidity of each Fund's investments, limiting the amount of each Fund's illiquid investments, and utilizing various risk management tools available to the Funds for meeting shareholder redemptions, among other means. From November 1, 2024, through April 30, 2025, the Program supported the Funds' ability to honor redemption requests timely and the Adviser's management of the Funds' liquidity risk. There can be no assurance that the Program will achieve its objectives under all circumstances in the future. Please refer to each Fund's prospectus for more information regarding the Fund's exposure to liquidity risk and other risks to which it may be subject.

5. Form N-CSR Items 8-11

Set forth below is the information required to be provided in Items 8-11 of Form N-CSR.

**Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.**

There were no changes in or disagreements with accountants during the period covered by this report.

**Item 9. Proxy Disclosure for Open-End Investment Companies.**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.**

This information is included as part of the financial statements filed under Item 7 above for Stone Ridge High Yield Reinsurance Risk Premium Fund and Stone Ridge Diversified Alternatives Fund. For more information see the expense items "Trustee fees and expenses" and "Chief Compliance Officer compensation" within each Fund's Statement of Operations and Note 6 within the Notes to the Financial Statements.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

Not applicable.

---

| | |
|:---|:---|
| Stone Ridge Funds \| Semi-Annual Report \| April 30, 2025 | **269** |

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------

**[**TABLE OF CONTENTS**](#TOC)**

<u>Investment Adviser</u>

Stone Ridge Asset Management LLC

One Vanderbilt Avenue, 65th Floor

New York, NY 10017

<u>Independent Registered Public Accounting Firm</u>

Ernst & Young LLP

700 Nicollet Mall, Suite 500

Minneapolis, MN 55402

<u>Legal Counsel</u>

Ropes & Gray LLP

Prudential Tower

800 Boylston Street

Boston, MA 02199

<u>Custodians</u>

U.S. Bank, N.A.

1555 North RiverCenter Drive, Suite 302

Milwaukee, WI 53212

Inspira Financial Trust, LLC

2001 Spring Road #700

Oak Brook, IL 60523

<u>Distributor</u>

Foreside Global Services, LLC

Three Canal Plaza, Suite 100

Portland, Main 04101

<u>Administrator, Transfer Agent and Dividend Disbursing Agent</u>

U.S. Bancorp Fund Services, LLC,

doing business as U.S. Bank Global Fund Services

615 East Michigan Street

Milwaukee, WI 53202

This report has been prepared for shareholders and must be preceded or accompanied by an effective prospectus,which includes information regarding the Funds' investment objectives, risks, experience of its management andother information.

------

**[**TABLE OF CONTENTS**](#TOC)**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; ![](stoneridge_logox1.jpg) | Stone Ridge Funds <br>P.O. Box 701 <br>Milwaukee, WI 53201-0701 |  |
| &nbsp;&nbsp;&nbsp; ![](stoneridge_logox1.jpg) | 855-609-3680<br>www.stoneridgefunds.com | SQANNU |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Highlights are included within the financial statements filed under
 Item 7 of this Form.

**<u>Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.</u>**

There were no changes in or disagreements with accountants during the period covered by this report.

**<u>Item 9. Proxy Disclosure for Open-End Investment Companies.</u>**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**<u>Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.</u>**

This information is included as part of the financial statements filed under Item 7 above for Stone Ridge High Yield Reinsurance Risk Premium Fund and Stone Ridge Diversified Alternatives Fund. For more information see the expense items "Trustee fees and expenses" and "Chief Compliance Officer compensation" within each Fund's Statement of Operations and Note 6 within the Notes to the Financial Statements.

**<u>Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.</u>**

Not applicable.

**<u>Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 13. Portfolio Managers of Closed-End Management Investment Companies.</u>**

 

Not applicable to open-end investment companies.

**<u>Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</u>**

Not applicable to open-end investment companies.

**<u>Item 15. Submission of Matters to a Vote of Security Holders.</u>**

Not applicable.

**<u>Item 16. Controls and Procedures.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's President and Treasurer have reviewed the registrant's
 disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of
 a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under
 the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are
 effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported
 and made known to them by others within the registrant and by the registrant's service provider.

&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the registrant's internal control over financial
 reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected,
 or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**<u>Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>**

Not applicable to open-end investment companies.

**<u>Item 18. Recovery of Erroneously Awarded Compensation.</u>**

Not applicable

**<u>Item 19. Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) (1) *Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) *Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(3) *A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)).* Filed herewith.](srt-efp16306_ex99cert.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) *Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) *Change in the registrant's independent public accountant*. Not applicable.

 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* [*Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.* Furnished herewith.](srt-efp16306_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Stone
 Ridge Trust

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Ross Stevens |
|  | Ross Stevens, President, Chief Executive Officer and Principal Executive Officer |

---

Date <u>7/3/2025</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Ross Stevens |
|  | Ross Stevens, President, Chief Executive Officer and Principal Executive Officer |

---

Date <u>7/3/2025</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Maura Keselowsky |
|  | Maura Keselowsky, Treasurer, Principal Financial Officer, Chief Financial Officer and Chief Accounting Officer |

---

Date <u>7/3/2025</u>

## Ex-99.Cert

**EX.99.CERT**

**<u>CERTIFICATIONS</u>**

I, Ross Stevens, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Stone Ridge Trust;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets,
and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940)
and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant
and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report
is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures
and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely
to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to
the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent
functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record,
process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | 7/3/2025 | /s/ Ross Stevens |
|  |  | Ross Stevens |
|  |  | President, Chief Executive Officer and Principal Executive Officer |

---

**<u>CERTIFICATIONS</u>**

I, Maura Keselowsky, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Stone Ridge Trust;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets,
and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods
presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940)
and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant
and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report
is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a
date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely
to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to
the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent
functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record,
process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant's internal control over financial reporting.

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| | | |
|:---|:---|:---|
| Date: | 7/3/2025 | /s/ Maura Keselowsky |
|  |  | Maura Keselowsky |
|  |  | Treasurer, Principal Financial Officer, Chief Financial Officer and Chief Accounting Officer |

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## Exhibit 99.906

**EX.99.906CERT**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the Stone Ridge Trust, does hereby certify, to such officer's knowledge, that the report on Form N-CSR of the Stone Ridge Trust for the period ended April 30, 2025 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Stone Ridge Trust for the stated period.

---

| | |
|:---|:---|
| /s/ Ross Stevens | /s/ Maura Keselowsky |
| Ross Stevens | Maura Keselowsky |
| President, Chief Executive Officer and Principal Executive Officer, | Treasurer, Principal Financial Officer, Chief Financial Officer and Chief Accounting Officer, |
| Stone Ridge Trust | Stone Ridge Trust |

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Dated: <u>7/3/2025</u> Dated: <u>7/3/2025</u>

This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by Stone Ridge Trust for purposes of Section 18 of the Securities Exchange Act of 1934.