# EDGAR Filing Document

**Accession Number:** 0001343668
**File Stem:** 0001410368-25-026652
**Filing Date:** 2025-11
**Character Count:** 5740
**Document Hash:** e1bf6423f21221dc799eb7e22a04d0de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-026652.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0001410368-25-026652

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alternative Investment Partners Absolute Return Fund STS
- **CENTRAL INDEX KEY:** 0001343668

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21831
- **FILM NUMBER:** 251499124

**BUSINESS ADDRESS:**
- **STREET 1:** ONE TOWER BRIDGE, 100 FRONT STREET
- **STREET 2:** SUITE 1100
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2881
- **BUSINESS PHONE:** 610-260-7600

**MAIL ADDRESS:**
- **STREET 1:** ONE TOWER BRIDGE, 100 FRONT STREET
- **STREET 2:** SUITE 1100
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2881

## Nport-Ex

**Item 1.** **Schedule of Investments.**

The Registrant invests substantially all of its assets in AIP Absolute Return Fund LDC, which in turn invests substantially all of its assets in Alternative Investment Partners Absolute Return Fund (CIK 0001327228, Investment Company Act file number 811-21767, the "Master Fund"). As of September 30, 2025, the Registrant invested $167,834,594 in the Master Fund, representing 99.20% of the Registrant's net assets (offset by approximately 0.80% of other assets, less liabilities), and representing 60.37% of the Master Fund's net assets. The Master Fund has included a schedule of investments as of September 30, 2025, in its filing of Form N-PORT made available on the Securities and Exchange Commission website at http://www.sec.gov.

**Notes to Schedule of Investments**

**Portfolio Valuation**

Alternative Investment Partners Absolute Return Fund STS (the "Fund") is a "Feeder" fund in a "Master-Feeder" structure whereby the Fund invests substantially all of its assets in AIP Absolute Return Fund LDC, which in turn invests substantially all of its assets in the Master Fund. The Fund's investment in the Master Fund would be considered Level 3 as defined under fair valuation accounting standards. Valuation of Investment Funds and other investments held by the Master Fund, including the Master Fund's disclosure of investments under the three-tier hierarchy, is discussed in the notes to the Master Fund's schedule of investments. The Fund records its investment in the Master Fund as fair value which is represented by the Fund's proportionate indirect interest in the net assets of the Master Fund. The Fund records its pro rata share of the Master Fund's income, expenses and realized and unrealized gains and losses.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Alternative Investment Partners Absolute Return Fund STS

- **b. Investment Company Act file number:** 811-21831

- **c. CIK number of Registrant:** 0001343668

- **d. LEI of Registrant:** 549300J2IKBFV0QRHD34

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE TOWER BRIDGE, 100 FRONT STREET

  - **City:** WEST CONSHOHOCKEN

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428-2881

  - **Telephone number:** 610-260-7600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Alternative Investment Partners Absolute Return Fund STS

- **c. LEI of Series:** 549300J2IKBFV0QRHD34

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $173380386.46

**Total Liabilities:** $1304770.15

**Net Assets:** $172075616.31

**Cash Not Reported:** $1567081.20

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.06%               | 0.74%                | 0.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4602707.02              | $-6300180.05                               |
| Month 2  | $653389.21               | $-734991.87                                |
| Month 3  | $0.00                    | $594708.53                                 |

### Schedule of Portfolio Investments

| Name                              | Title                             | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AIP ABSOLUTE RETURN FUND LDC - A. | AIP ABSOLUTE RETURN FUND LDC - A. | CUSIP: 000000000<br>LEI: N/A | Long             | EC               | RF                | US        |     62667 | NS      | $171166128.97 | 99.47%            |  |  |  | No            | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Alternative Investment Partners Absolute Return Fund STS

**Signature:** Francis J Smith

**Name of Signer:** Francis J Smith

**Title:** Principal Financial Officer