# EDGAR Filing Document

**Accession Number:** 0001939052
**File Stem:** 0001193125-26-279273
**Filing Date:** 2026-6
**Character Count:** 181202
**Document Hash:** 1f98c39e70a4f393097236c5789ab9c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-279273.hdr.sgml**: 20260623

**ACCESSION NUMBER**: 0001193125-26-279273

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260623

**DATE AS OF CHANGE**: 20260623

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stone Ridge Trust VIII
- **CENTRAL INDEX KEY:** 0001939052

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23824
- **FILM NUMBER:** 261110741

**BUSINESS ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** 65TH FL.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-202-3138

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

## Nport-Ex

## **Table of Contents**<br>

---

| | |
|:---|:---|
| [Consolidated Schedule of Investments (Unaudited)](#soi) | &nbsp;&nbsp; [2](#soi) |
| &nbsp;&nbsp; [Notes to the Consolidated Schedule of Investments (Unaudited)](#notes) | [12](#notes) |

---

------

#### **TABLE OF CONTENTS**
Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Class A Equity Shares** |  |  |
|  **Art (a) (b) (c) - 97.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 040, xLxLxCx-xGxhxexnxixex,x xAxdxrxixaxnx;x xLxixdxlxexsxsx xExyxex,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $114,808, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 8835  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $100462  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,306, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 660  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7505  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 041, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x xZxixexgxex,x 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $437,337, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 22709  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397887  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $66,400, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 5000  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87606  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 042, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xDxaxrxkx xMxixlxkx,x 1986 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $362,749, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 36778  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885490  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $151,817, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 8337  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200727  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 043, xLxLxCx-xHxaxrxixnxgx,x x<br>Kxexixtxhx;x xUxnxtxixtxlxexdx,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $575,705, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 31752  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478871  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 044, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xMxixsxsxixsxsxixpxpxix,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $632,411, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 33233  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 764778  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 046, xLxLxCx-xHxexrxrxexrxax,x xCxaxrxmxexnx;x xGxrxexexnx xaxnxdx xOxrxaxnxgxex,x 1958 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $755,839, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 32081  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 716272  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,639, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 240  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5358  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 047, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xLxixsxtxexnxixnxgx xtxox xVxoxixcxexsx,x 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $169,134, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 8308  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157603  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $57,838, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 3908  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74135  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 048, xLxLxCx-xFxoxrxgx,x <br>xGxuxnxtxhxexrx;x xUxnxtxixtxlxexdx,x 2007 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $63,475, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 4040  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71065  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,963, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 306  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5383  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 049, xLxLxCx-xTxexhx-xCxhxuxnx,x xCxhxux;x xPxrxixnxtxexmxpxsx xHxixvxexrxnxaxlx,x <br>1986-1987 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,235,825, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 70092  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1102358  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,270, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 526  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8273  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 050, xLxLxCx-xSxhxixrxaxgxax,x xKxaxzxuxox;x xKxoxsxhxax,x 1992 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $619,407, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 34682  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673649  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,812, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 259  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5031  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 053, xLxLxCx-xWxoxoxlx,x xCxhxrxixsxtxoxpxhxexrx;x xUxnxtxixtxlxexdx,x 1997 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $439,150, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 26183  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 301688  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 054, xLxLxCx-xMxixtxcxhxexlxlx,x <br>xJxoxaxnx;x 12 Hawks at 3 O'Clock, 1962 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,435,469, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 137421  | &nbsp;&nbsp;&nbsp;&nbsp; $3474511  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $113,465, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 6180  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156253  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 055, xLxLxCx-xMxaxrxtxixnx,x xAxgxnxexsx;x xUxnxtxixtxlxexdx x#12, 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,423,736, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 61178  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1420614  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,949, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10658  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 056, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xUxnxtxixtxlxexdx,x 1967 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,098,247, Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 65886  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885699  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 057, xLxLxCx-xGxixlxlxixaxmx,x <br>xSxaxmx;x xTxhxrxoxuxgxhx,x 1970 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $368,650, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 18950  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356430  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,872, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2690  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 058, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xAxlxlx xCxoxlxoxrxexdx x <br>Cxaxsxtx xIxIx,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,298,541, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 141728  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2954845  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $201,209, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp; 12759  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266009  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 059, xLxLxCx-xHxaxrxixnxgx,x <br>xKxexixtxhx;x xUxnxtxixtxlxexdx,x 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $677,421, Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 42995  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 588142  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 062, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x xAxbxsxtxrxaxkxtxexsx xBxixlxdx <br>908-8, 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $690,102, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 31493  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441667  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $7,083, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 714  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10013  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 063, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xPxlxaxaxox)x,x 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $513,217, Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 29125  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289412  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 064, xLxLxCx-xHxaxrxixnxgx,x <br>xKxexixtxhx;x xUxnxtxixtxlxexdx,x 1985 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,520,910, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 87882  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1568834  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $23,995, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1988  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35489  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 066, xLxLxCx-xGxhxexnxixex,x xAxdxrxixaxnx;x xAxnxtxexlxoxpxex xAxtxtxaxcxkxexdx xNxexaxrx xGxaxsx xPxixpxex,x 2018 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $682,176, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 32698  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586468  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,343, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4412  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**2**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 068, xLxLxCx-xWxoxux-xKxix,x <br>xZxaxox;x 22.01.68, 1968 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $895,862, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 52648  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $881953  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,013, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 395  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6617  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 071, xLxLxCx-xWxaxrxhxoxlx,x <br>xAxnxdxyx;x xDxoxlxlxaxrx xSxixgxnx,x 1981 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $207,857, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 10756  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187046  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 072, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x xUxnxtxixtxlxexdx xPxixnxkx x(xSxfxmxoxmxax xBxexnxexfxixtx)x,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $740,344, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 37823  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734885  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,283, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 284  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5518  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 073, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xPxaxcxixfxixcx-xOxcxexaxnx,x 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $551,940, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 32599  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285815  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 074, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xRxexdx xRxaxbxbxixtx,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,405,295, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 78210  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1699965  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $81,773, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 4974  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108114  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 075, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x xAxbxsxtxrxaxkxtxexsx xBxixlxdx <br>940-7, 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $948,274, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 60008  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1141142  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $57,692, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 4404  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83749  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 076, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 81 x 81 cm, <br>17 Février 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $245,876, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 12366  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113118  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $745, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 079, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xSxexax xixnx xtxhxex xExvxexnxixnxgx <br>xGxlxoxwx,x 1995 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $465,218, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 27051  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303991  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 080, xLxLxCx-xGxixlxlxixaxmx,x xSxaxmx;x xAxtxmxoxsxpxhxexrxex,x 1980 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $168,886, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 11330  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244282  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $13,403, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 804  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17335  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 083, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xPxuxmxpxkxixnx,x 1991 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $765,534, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 38099  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 759420  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,552, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 287  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5721  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 084, xLxLxCx-xFxoxrxgx,x xGxuxnxtxhxexrx;x xOxhxnxex xTxixtxexlx,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $232,897, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 12403  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137858  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 088, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x xAxbxsxtxrxaxkxtxexsx xBxixlxdx <br>576-2, 1985 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $683,510, Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 40312  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $560014  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 089, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xMxixnxexrxaxlx xKxixnxgxdxoxmx,x 1976 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $212,362, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 11642  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294583  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $15,963, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21103  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 090, xLxLxCx-xWxoxoxlx,x xCxhxrxixsxtxoxpxhxexrx;x xUxnxtxixtxlxexdx,x 1995 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,337,965, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 72921  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337881  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $41,783, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 3006  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55151  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 091, xLxLxCx-xWxoxoxlx,x xCxhxrxixsxtxoxpxhxexrx;x xUxnxtxixtxlxexdx,x 1990 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $838,623, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 50670  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1676260  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $41,806, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 3036  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100437  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 092, xLxLxCx-xBxaxnxkxsxyx;x xSxuxnxfxlxoxwxexrxsx xfxrxoxmx xPxextxrxoxlx <br>xSxtxaxtxixoxnx,x 2005 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,264,893, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 86502  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1513335  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $83,618, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 6306  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110322  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 093, xLxLxCx-xRxuxsxcxhxax,x xExdxwxaxrxdx;x xRxixpxex,x 1967 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,903,775, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 219101  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4123130  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $141,411, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 8586  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161575  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 095, xLxLxCx-xSxhxixrxaxgxax,x xKxaxzxuxox;x xCxhxixkxexnx-xsxexix xKxexnxdxoxsxhxixnx,x 1961 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $585,910, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 36524  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650894  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $19,521, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1446  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25769  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 096, xLxLxCx-xRxuxsxcxhxax,x xExdxwxaxrxdx;x xVxaxrxixextxixexsx xoxfx xIxnxtxexrxnxaxlx xTxoxrxmxexnxtx,x 1998 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $669,357, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 39434  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 847996  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $25,756, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1584  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34063  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 097, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xRxexdx xGxoxdx,x 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $447,138, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 24848  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442181  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $29,524, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1818  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32352  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 098, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xBxCxOx)x,x 2013 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $458,462, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 21054  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335500  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $13,409, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1110  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17688  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**3**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 099, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xMxaxrxyx xMxaxgxdxaxlxexnxex,x 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $60,532, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 3478  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $55923  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,069, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 252  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4052  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 101, xLxLxCx-xRxoxtxhxkxox,x xMxaxrxkx;x xUxnxtxixtxlxexdx,x 1968 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,411,886, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 84521  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1528731  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $47,382, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 3456  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62509  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 103, LLC-Wood, Jonas; Collaboration Appropriation 6, 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $196,773, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 12515  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320331  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $14,929, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 912  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23343  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 104, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xPxuxmxpxkxixnx,x 1999 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $100,277, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 7956  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135199  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $9,505, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 738  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12541  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 105, xLxLxCx-xRxixlxexyx,x xBxrxixdxgxextx;x xSxhxaxdxoxwxexdx xPxlxaxcxex,x 1985 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $362,980, Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 25947  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231795  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 106, xLxLxCx-xMxixtxcxhxexlxlx,x xJxoxaxnx;x xUxnxtxixtxlxexdx <br>x(xBxuxixsxsxoxnxnxixexrxex)x,x 1962 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $816,962, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 38879  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 824102  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,866, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 291  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6168  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 107, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 143 X 202 Cm, <br>3 Janvier 2019, 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $158,613, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 10193  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100856  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,971, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 744  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7362  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 108, xLxLxCx-xRxixlxexyx,x xBxrxixdxgxextx;x xAxrxcxaxnxex,x 1972 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $728,230, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 36921  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734891  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,174, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 277  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5514  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 109, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x xNxox xHxoxpxexlxexsxsx,x 2007 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,367,524, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 77884  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426547  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $38,975, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 2808  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51432  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 110, xLxLxCx-xHxaxrxixnxgx,x <br>xKxexixtxhx;x xUxnxtxixtxlxexdx,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $472,042, Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 26571  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308290  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 111, xLxLxCx-xOxexhxlxexnx,x xAxlxbxexrxtx;x 101 Kopfe, 2005 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $493,449, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 30878  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292140  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 112, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 92 X 65 Cm, <br>13 Mars 2015, 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $62,853, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 3811  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $29470  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 113, xLxLxCx-xOxexhxlxexnx,x xAxlxbxexrxtx;x xUxnxtxixtxlxexdx,x 2001 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $171,397, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 10605  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136352  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $8,939, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 780  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10029  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 114, xLxLxCx-xWxaxrxhxoxlx,x <br>xAxnxdxyx;x xFxlxoxwxexrxsx,x 1964 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $211,448, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 15366  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318355  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $22,095, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1410  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29212  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 115, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xJxAxAxTxOx)x,x 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $189,472, Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 9039  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79383  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 116, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x xPxrxoxmxixsxex xLxaxnxdx,x 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,264,146, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 69220  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1119752  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $27,879, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 2274  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36786  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 117, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xUxnxtxixtxlxexdx,x 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $757,412, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 49096  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668260  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 118, xLxLxCx-xLxixgxoxnx,x xGxlxexnxnx;x xSxtxrxaxnxgxexrx x#55, 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $346,127, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 21741  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359483  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $8,730, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10781  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 120, xLxLxCx-xBxaxnxkxsxyx;x x<br>Rxaxtx x&x xHxexaxrxtx,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $30,813, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 2899  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28651  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,796, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3321  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 121, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x xMxyx xWxhxoxlxex xFxaxmxixlxyx xixsx xfxrxoxmx xPxhxixlxlxyx,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,951,281, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp; 100021  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1469879  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $8,355, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11022  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 122, xLxLxCx-xBxaxnxkxsxyx;x xAxgxexnxcxyx xJxoxbx x(xGxlxexaxnxexrxsx)x,x 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $602,678, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp; 37971  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 630508  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $55,707, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 4650  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77213  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 123, xLxLxCx-xOxexhxlxexnx,x xAxlxbxexrxtx;x xGxlxaxtxtx x(xSxmxoxoxtxhx)x,x 2006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $94,595, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 6852  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71720  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**4**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 124, xLxLxCx-xRxixlxexyx,x <br>xBxrxixdxgxextx;x xBxlxuxex xQxuxixvxexrx,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $753,555, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 42974  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $685976  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,908, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 323  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5156  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 125, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xTxrxaxnxsxpxaxrxexnxtx xFxixgxuxrxexsx,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $919,345, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 41369  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1128096  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $23,059, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 1326  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36159  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 126, LLC-Kaws; <br>Chum (KCO9), 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $68,264, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 4198  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65559  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,052, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 258  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4029  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 127, LLC-Ghenie, <br>Adrian; Antelope Attacked Near <br>Gas Pipe 2, 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $580,741, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 30931  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586296  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $13,786, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 960  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18197  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 128, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xKxHxNx)x,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $176,823, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 12581  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190314  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $39,285, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 3428  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51856  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 129, xLxLxCx-xSxhxixrxaxgxax,x xKxaxzxuxox;x xCxhxixsxuxixsxexix xTxsxuxhxixexnx,x 1961 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $593,395, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 28677  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 673077  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $16,082, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 906  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21265  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 130, xLxLxCx-xGxhxexnxixex,x xAxdxrxixaxnx;x xTxhxex xTxrxixpx,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,237,693, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 62190  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638934  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 131, xLxLxCx-xFxoxnxtxaxnxax,x xLxuxcxixox;x xCxoxnxcxextxtxox xSxpxaxzxixaxlxex,x xAxtxtxexsxex,x 1964-5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $238,487, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 15750  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254743  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $12,508, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp; 1032  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16692  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 132, xLxLxCx-xBxoxextxtxix,x xAxlxixgxhxixexrxox;x xSxexnxzxax xTxixtxoxlxox x(xIx xVxexrxbxix xIxrxrxexgxoxlxaxrxix,x xTxoxcxcxhxix xEx xRxixnxtxoxcxcxhxix,x xPxexrx xNxuxoxvxix xDxexsxixdxexrxix)x,1989 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $39,311, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 2835  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53635  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,872, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 270  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5108  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 133, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x xAxbxsxtxrxaxkxtxexsx xBxixlxdx 665-4, 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $295,283, Initial Acquisition Date: 06/09/2023) | &nbsp;&nbsp;&nbsp; 14872  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 254099  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $10,101, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 780  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13327  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 136, xLxLxCx-xPxrxixnxcxex,x xRxixcxhxaxrxdx;x xAxrxex xYxoxux xKxixdxdxixnxgx?x,x 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $502,972, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 28644  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $391962  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,266, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 214  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2928  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 139, xLxLxCx-xOxexhxlxexnx,x xAxlxbxexrxtx;x xUxnxtxixtxlxexdx x(22/87), 1987 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $420,364, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 25638  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362037  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,784, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 579  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8176  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 140, xLxLxCx-xRxixlxexyx,x <br>xBxrxixdxgxextx;x xTxixnxcxtx,x 1972 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $796,069, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 40730  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734953  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,183, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 306  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5522  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 142, xLxLxCx-xUxexcxkxexrx,x xGxuxnxtxhxexrx;x xFxexlxdx 83/84, 1983-4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $412,641, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 23560  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287941  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,936, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 533  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6514  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 145, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xRxexdx xPxuxmxpxkxixnx,x 1996 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $155,744, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 8025  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135982  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $869, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1017  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 146, xLxLxCx-xRxuxsxcxhxax,x xExdxwxaxrxdx;x xSxexaxfxoxoxdx xSxtxoxcxkx,x 1986 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $405,256, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 20712  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367505  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,098, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 156  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2768  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 147, xLxLxCx-xAxnxdxrxex,x xCxaxrxlx;x xMxaxgxnxexsxixuxmx-xLxexaxdx xPxlxaxixnx,x 1969 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $474,836, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 24209  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370391  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,098, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 181  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2769  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 148, xLxLxCx-xGxixlxlxixaxmx,x xSxaxmx;x xSxoxnxgx xTxrxoxpxixex,x 1973 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $222,866, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 11994  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281111  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,318, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 272  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6375  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 152, xLxLxCx-xWxaxrxhxoxlx,x xAxnxdxyx;x xDxoxlxlxaxrx xSxixgxnx,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $180,970, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 9313  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189123  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $849, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1442  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 153, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xTxextxhxyxsx,x 1981 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $335,305, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 17164  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362643  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,061, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 129  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2725 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**5**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 154, LLC-Kaws; <br>Chum (KCB1), 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $425,036, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 21808  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $391955  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,801, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 163  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2930  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 156, xLxLxCx-xHxaxrxixnxgx,x <br>xKxexixtxhx;x xUxnxtxixtxlxexdx xNxox.x 10, 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $682,250, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 45604  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592332  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 157, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xRxoxdxrxixgxox xaxnxdx xHxixsx xMxixsxtxrxexsxsx,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $279,046, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 14262  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244839  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,660, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 107  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1837  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 158, xLxLxCx-xMxexhxrxextxux,x xJxuxlxixex;x xUxnxtxixtxlxexdx,x 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $176,083, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 9008  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222193  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,269, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1677  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 159, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xPxuxmxpxkxixnx x(xOx.xKxex)x,x 2004 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $416,159, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 23046  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 601767  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,749, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 173  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4517  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 160, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 92 X 73 Cm, 25 Octobre 1987, 1987 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $302,122, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 16438  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181072  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 162, xLxLxCx-xJxoxhxnxsxoxnx,x xRxaxsxhxixdx;x xUxnxtxixtxlxexdx x(xExsxcxaxpxex xCxoxlxlxaxgxex)x,x 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $275,517, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 13820  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122057  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,695, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 567  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5008  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 163, xLxLxCx-xKxaxtxzx,x <br>xAxlxexx;x Kxyxmx,x 2004 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $171,414, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 7874  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193163  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,017, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1447  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 164, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xDxkxkxnx)x,x 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $689,025, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 34549  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296410  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 165, xLxLxCx-xJxuxdxdx,x <br>xDxoxnxaxlxdx;x xUxnxtxixtxlxexdx,x 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $296,139, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 12890  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275074  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,549, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2049  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 166, xLxLxCx-xKxaxwxsx;x xKxuxrxfxsx x(xLxaxuxgxhxixnxgx)x,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $523,817, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 27234  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,123, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 204  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3834  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 167, xLxLxCx-xRxixlxexyx,x <br>xBxrxixdxgxextx;x xDxexlxoxsx,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $754,206, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 38225  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $734872  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,182, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 287  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5516  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 168, xLxLxCx-xOxwxexnxsx,x <br>xLxaxuxrxax;x xUxnxtxixtxlxexdx,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $193,545, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 9900  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195986  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,125, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 169, xLxLxCx-xWxhxixtxnxexyx,x xSxtxaxnxlxexyx;x xMxoxrxnxixnxgx xBxixrxdx,x 2022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $234,203, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 11972  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205151  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,379, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 271  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4644  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 171, xLxLxCx-xWxhxixtxnxexyx,x xSxtxaxnxlxexyx;x xMxexmxoxrxyx xGxaxrxdxexnx,x 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $222,877, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 11384  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108609  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,742, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 258  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2461  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 172, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x xKxaxpxuxtxtx <br>xPxuxpx xKxixnxgx,x 1999 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $390,604, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 20029  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380701  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,160, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 150  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2851  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 173, xLxLxCx-xYxixaxdxoxmx-xBxoxaxkxyxex,x xLxyxnxextxtxex;x xOxyxsxtxexrx,x 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $385,530, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 19708  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217218  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 174, xLxLxCx-xCxhxaxnxexlx xAxbxnxexyx,x xNxixnxax;x xAxnxyxtxixmxex,x xAxnxyxpxlxaxcxex,x 2018 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $133,313, Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 6026  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53334  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 176, xLxLxCx-xKxaxwxsx;x xUxnxtxixtxlxexdx x(xKxuxrxfx)x,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $395,212, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 20022  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418150  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,590, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 150  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3133  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 177, xLxLxCx-xKxaxtxzx,x xAxlxexx;x xPxixnxkx xKxixmxoxnxox,x xIxsxaxaxcx xMxixzxrxaxhxix xSxexrxixexsx,x 1994 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $360,703, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 19957  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 429612  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,406, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 150  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3229  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 178, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xBxrxixdxex'xsx xDxoxoxrx,x 1967 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $588,914, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 29822  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628833  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,557, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 223  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4702 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**6**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 179, xLxLxCx-xWxoxux-xKxix,x xZxaxox;x 17.02.71-12.05.76, 1971 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $434,160, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 23931  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $362026  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,223, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 543  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8214  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 180, xLxLxCx-xWxhxixtxnxexyx,x xSxtxaxnxlxexyx;x xIx xSxixnxgx xRxexdx xaxnxdx xBxlxuxex,x 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $223,055, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 11251  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108624  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,735, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 254  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2452  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 182, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xPxuxmxpxkxixnx,x 1996 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $153,736, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 7854  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154323  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $923, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1159  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 186, xLxLxCx-xPxaxrxtxyx,x xNxixcxoxlxaxsx;x xLxaxnxdxsxcxaxpxex,x 2017 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $663,340, Initial Acquisition Date: 04/12/2023) | &nbsp;&nbsp;&nbsp; 33634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470647  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 191, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xGxrxexexnx xaxnxdx xPxuxrxpxlxex xCxoxmxpxoxsxixtxixoxnx,x 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,065,035, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 53963  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906390  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,293, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 405  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6803  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 192, xLxLxCx-xOxexhxlxexnx,x xAxlxbxexrxtx;x xAxuxfx x(xDxexrx xSxtxrxaxsxsxex)x xSxcxhxrxexixbxexnx x(xWxrxixtxixnxgx x(xOxnx xTxhxex xSxtxrxexextx)x)x,x 2000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $420,091, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 21300  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270676  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,384, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 161  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2046  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 193, xLxLxCx-xHxexrxrxexrxax,x xCxaxrxmxexnx;x xNxoxcxhxex xVxexrxdxex,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $158,482, Initial Acquisition Date: 03/28/2023) | &nbsp;&nbsp;&nbsp; 8085  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169510  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,025, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 196, xLxLxCx-xMxixtxcxhxexlxlx,x xJxoxaxnx;x xUxnxtxixtxlxexdx,x xCx.x 1956 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $897,102, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 45392  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 866992  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,165, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 340  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6494  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 197, xLxLxCx-xHxoxcxkxnxexyx,x xDxaxvxixdx;x xSxuxnxfxlxoxwxexrx xaxnxdx xTxhxrxexex xOxrxaxnxgxexsx,x 1996 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,067,747, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 53975  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1309357  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $7,432, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 405  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9825  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 214, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xPxixlxoxtx,x 1978 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $448,869, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp;&nbsp; 22721  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482831  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,748, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 171  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3634  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 215, xLxLxCx-xBxoxextxtxix,x xAxlxixgxhxixexrxox;x xMxaxpxpxax,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $673,128, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 34082  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $581830  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,473, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4353  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 217, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xCxoxnxsxtxrxuxcxtxexdx xFxaxcxex,x 2013 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $497,500, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 25183  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362016  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,797, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 570  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8194  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 218, xLxLxCx-xRxixlxexyx,x <br>xBxrxixdxgxextx;x xGxrxexexnxsxlxexexvxexsx,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $644,930, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 32662  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636925  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,606, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4758  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 219, xLxLxCx-xHxaxrxixnxgx,x <br>xKxexixtxhx;x xUxnxtxixtxlxexdx,x 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,053,020, Acquisition Date: 05/30/2023) | &nbsp;&nbsp; 52651  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 716459  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 228, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x xUxnxdxexrx xtxhxex xHxaxzxyx xSxkxyx,x 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,552,080, Initial Acquisition Date: 05/30/2023) | &nbsp;&nbsp; 129184  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2474519  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $18,566, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18542  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 230, LLC-Kaws; <br>Chum (KCB8), 2012 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $434,066, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 22019  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391975  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,818, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2937  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 236, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xExaxsxtxexrx xSxuxnxdxaxyx,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $713,881, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 36146  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781520  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,453, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5881  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 239, xLxLxCx-xBxrxoxwxnx,x <br>xCxexcxixlxyx;x xTxhxex xNxyxmxpxhxsx xHxaxvxex <br>xDxexpxaxrxtxexdx,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,156,600, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 58452  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373020  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $19,630, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 1321  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31030  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 241, xLxLxCx-xPxaxrxtxyx,x xNxixcxoxlxaxsx;x xTxrxexexsx,x 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $481,820, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 24389  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422352  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $7,242, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9559  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 245, xLxLxCx-xAxyx xTxjxoxex,x xCxhxrxixsxtxixnxex;x xLxaxyxexrx xaxsx xax xHxixdxixnxgx xPxlxaxcxex,x 2013 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $408,293, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 20599  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 444992  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,350, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3327 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**7**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 254, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xIxnxsxixdxex xtxhxex xWxexsxtx xWxixnxgx,x 1957 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $693,480, Acquisition Date: 01/12/2024) | &nbsp;&nbsp; 34674  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $552308  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $11,995, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 952  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15164  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 258, xLxLxCx-xGxixlxlxixaxmx,x <br>xSxaxmx;x xUxnxtxixtxlxexdx,x 1970 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $416,080, Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 20804  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312992  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 261, xLxLxCx-xWxoxnxgx,x xMxaxtxtxhxexwx;x xUxnxtxixtxlxexdx,x 2017 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $774,362, Initial Acquisition Date: 05/26/2023) | &nbsp;&nbsp; 39057  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 793150  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,485, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5930  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 262, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xUxnxtxixtxlxexdx,x 1983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,236,264, Initial Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 113728  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2471161  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $98,087, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 5970  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129720  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 268, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x xWxoxuxnxdxexdx,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,687,589, Initial Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 84816  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1592412  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $9,036, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11922  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 273, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x xHxuxmxaxnx xRxaxgxex,x 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $534,414, Initial Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 26813  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489954  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,784, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3673  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 274, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x x xPxoxlxixtxixcxaxlx xCxaxrxtxoxoxnx xAxbxsxtxrxaxcxtxixoxnx,x 2017 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $502,403, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 25121  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 465459  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,793, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3502  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 275, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xSxixlxvxexrx-xNxextxsx x(xTxwxhxexrxox)x,x 2007 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $751,700, Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 37585  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337070  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 278, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x xMxaxqxuxaxnx,x 2015 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $604,070, Initial Acquisition Date: 01/03/2024) | &nbsp;&nbsp; 30242  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584760  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,709, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4389  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 279, xLxLxCx-xKxuxsxaxmxax,x xYxaxyxoxix;x xNxextxsx xOxbxsxexsxsxixoxnx x(xTxoxwxex)x,x 2002 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $554,780, Initial Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 27808  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229296 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 282, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x x xPxoxlxlxox xFxrxixtxox,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,400,000, Acquisition Date: 03/26/2024) | &nbsp;&nbsp; 120000  | &nbsp;&nbsp;&nbsp;&nbsp; $2435088  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $483,784, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp; 32622  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661979  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 286, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x x xSxexax xMxoxnxsxtxexrx,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,190,993, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 59557  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1049758  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $5,972, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7879  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 300, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xOxvxexrx xaxnxdx xAxbxoxvxex,x 1975 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $395,758, Initial Acquisition Date: 10/30/2023) | &nbsp;&nbsp; 19835  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765338  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,109, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5711  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 304, xLxLxCx-xSxcxhxaxrxfx,x xKxexnxnxyx;x x xExvxoxlxuxtxixoxnx xRxexvxoxlxuxtxixoxnx xIxvx,x 2023 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $172,282, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 8682  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168161  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,293, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5094  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 309, LLC-Condo, <br>George; Untitled (Painting Drawing 6), 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $184,239, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 9330  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180742  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $12,687, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14762  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 311, xLxLxCx-xRxuxsxcxhxax,x xExdxwxaxrxdx;x xMxaxnxuxaxlx xMxoxbxixlxixtxyx,x 1994 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $898,294, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 44913  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1355550  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,700, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10171  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 312, xLxLxCx-xRxyxmxaxnx,x xRxoxbxexrxtx;x x xFxixlxex,x 1997 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $434,520, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 21726  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488670  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,208, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3644  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 318, xLxLxCx-xPxexyxtxoxnx,x xExlxixzxaxbxextxhx;x x xHxaxixrxcxuxtx x(xBxexnx x&x xSxpxexnxcxexrx)x,x 2002 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $125,973, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 6296  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162349  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,003, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1212  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 325, xLxLxCx-xCxoxnxdxox,x xGxexoxrxgxex;x x xExcxsxtxaxtxixcx xFxixgxuxrxexsx,x 2010 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $859,900, Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 42995  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734178  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $4,775, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6301  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 326, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 128 X 181 Cm, 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $416,080, Acquisition Date: 03/05/2024) | &nbsp;&nbsp; 20804  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286629 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**8**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 329, xLxLxCx-xFxoxrxgx,x <br>xGxuxnxtxhxexrx;x x xUxnxtxixtxlxexdx,x 2006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $138,840, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 6953  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $134672  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,848, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 194  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3758  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 334, LLC-Seo-bo, Park; Ecriture No. 2-80-81, 1980-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $252,400, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 12620  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245706  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 338, xLxLxCx-xFxoxrxgx,x <br>xGxuxnxtxhxexrx;x x xUxnxtxixtxlxexdx,x 2007 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $129,742, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 6441  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142672  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $6,371, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 342  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7575  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 341, xLxLxCx-xWxoxoxlx,x xCxhxrxixsxtxoxpxhxexrx;x x xUxnxtxixtxlxexdx,x 1990 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,109,560, Acquisition Date: 04/09/2024) | &nbsp;&nbsp;&nbsp; 55478  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1684395  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $10,661, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 700  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21253  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 348, xLxLxCx-xKxaxtxzx,x xAxlxexxx;x x xRxaxixnxcxoxaxtx xTxrxixpxtxyxcxhx,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $450,820, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 22541  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533189  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 355, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x xDxexgxaxsx xAxtx 45, 1974 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $488,080, Initial Acquisition Date: 10/29/2024) | &nbsp;&nbsp;&nbsp; 24404  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597397  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,708, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 183  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4480  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 369, xLxLxCx-xBxrxoxwxnx,x <br>xCxexcxixlxyx;x xWxhxaxtx xyxoxux xNxexexdx,x 2006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $374,600, Acquisition Date: 12/20/2024) | &nbsp;&nbsp;&nbsp; 18730  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491434  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 371, LLC-Seo-bo, <br>Park; Ecriture No. 2-75, 1975 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $249,840, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 12492  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244983  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,382, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 380, xLxLxCx-xSxixnxgxexrx,x xAxvxexrxyx;x x xUxnxtxixtxlxexdx x(xSxaxtxuxrxdxaxyx xNxixgxhxtx)x,x 2017 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $327,735, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 16473  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305734  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $15,444, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 990  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18374  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 386, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x x xAxbxsxtxrxaxkxtxexsx xBxixlxdx x(557-3), 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $642,140, Initial Acquisition Date: 04/30/2024) | &nbsp;&nbsp;&nbsp; 32107  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625434  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,572, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 242  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4714  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 387, xLxLxCx-xFxoxrxgx,x xGxuxnxtxhxexrx;x x xUxnxtxixtxlxexdx,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $194,180, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 9709  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153458  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 388, xLxLxCx-xBxaxsx,x xHxexrxnxaxnx;x x xWxixtxhx xSxtxuxpxixdx,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $249,660, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 12483  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122192  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 389, xLxLxCx-xFxoxrxgx,x <br>xGxuxnxtxhxexrx;x x xUxnxtxixtxlxexdx,x 2008 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $152,680, Acquisition Date: 04/02/2024) | &nbsp;&nbsp;&nbsp; 7634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $123403  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 390, xLxLxCx-xOxwxexnxsx,x <br>xLxaxuxrxax;x x xUxnxtxixtxlxexdx,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $259,120, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 12956  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251587  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,428, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1883  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 391, xLxLxCx-xPxexyxtxoxnx,x xExlxixzxaxbxextxhx;x x xPxixoxtxrx xUxkxlxaxnxsxkxix,x 1996 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $180,420, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 9021  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170323  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,846, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 129  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2436  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 393, xLxLxCx-xFxrxaxnxkxexnxtxhxaxlxexrx,x xHxexlxexnx;x x xSxexaxsxpxaxcxex,x 1981 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $519,191, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 25963  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 514431  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $2,927, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 195  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3864  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 395, xLxLxCx-xFxoxrxgx,x xGxuxnxtxhxexrx;x x xUxnxtxixtxlxexdx,x 2007 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $152,680, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 7634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123543  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 396, xLxLxCx-xSxoxuxlxaxgxexsx,x xPxixexrxrxex;x xPxexixnxtxuxrxex 181 X 81 Cm, 2006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $305,120, Acquisition Date: 04/02/2024) | &nbsp;&nbsp;&nbsp; 15256  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205445  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 398, xLxLxCx-xRxixlxexyx,x xBxrxixdxgxextx;x x xCxlxoxsxex xBxyx,x 1992 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $724,854, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 36264  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574481  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,420, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 271  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4293  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 399, xLxLxCx-xBxaxsx,x xHxexrxnxaxnx;x x xTxhxex xDxexaxdx xLxixnxex,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $132,600, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 6630  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71523  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $9,377, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 878  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9472  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 400, xLxLxCx-xRxixcxhxtxexrx,x xGxexrxhxaxrxdx;x x xAxbxsxtxrxaxkxtxexsx xBxixlxdx x[819-2], 1994 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $669,980, Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 33499  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 474510  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 402, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x x xUxnxtxixtxlxexdx,x 2002 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $234,307, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 11654  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395227  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $8,632, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 588  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19941  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 406, xLxLxCx-xRxixlxexyx,x xBxrxixdxgxextx;x xCxoxdxax,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $343,120, Acquisition Date: 04/02/2024) | &nbsp;&nbsp;&nbsp; 17156  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268435  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 407, xLxLxCx-xWxoxoxdx,x xJxoxnxaxsx;x x xWxoxoxdx xSxhxexlxfx xWxixtxhx xBxaxlxlx,x 2019 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $638,000, Acquisition Date: 03/26/2024) | &nbsp;&nbsp;&nbsp; 31900  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697318 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**9**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Art (a) (b) (c) - 97.7% (continued)**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 410, xLxLxCx-xYxex,x xLxixux;x xTxhxex xExnxdx xOxfx xBxaxrxoxqxuxex,x 1998 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $796,940, Acquisition Date: 04/02/2024) | &nbsp;&nbsp;&nbsp; 39847  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $692202  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $8,870, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 674  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11708  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 414, xLxLxCx-xBxrxaxdxfxoxrxdx,x xMxaxrxkx;x x xVxaxlxuxex 87, 2009 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $384,840, Acquisition Date: 04/30/2024) | &nbsp;&nbsp;&nbsp; 19242  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368657  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 416, xLxLxCx-xGxhxexnxixex,x xAxdxrxixaxnx;x x xTxhxex xLxixdxlxexsxsx xExyxex,x 2014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $238,780, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 11939  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161872  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 417, xLxLxCx-xNxaxrxax,x xYxoxsxhxixtxoxmxox;x x xDxoxgx xIxnx xTxhxex xNxixgxhxtx,x 1995 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $252,680, Initial Acquisition Date: 03/05/2024) | &nbsp;&nbsp;&nbsp; 12634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244707  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,380, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1821  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 418, xLxLxCx-xBxoxextxtxix,x xAxlxixgxhxixexrxox;x x xIxlx xVxexnxtxixcxixnxqxuxexsxixmxox xGxixoxrxnxox xDxexlx xTxexrxzxox xMxexsxex xDxexlxlxaxnxnxox xMxixlxlxexnxoxvxexcxexnxtxoxoxtxtxaxnx,x 1988 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $152,680, Acquisition Date: 03/26/2024) | &nbsp;&nbsp;&nbsp; 7634  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172103  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,475, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2005  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 419, xLxLxCx-xHxexnxdxrxixcxkxsx,x xBxaxrxkxlxexyx xLx.x;x x xTxrxixpxlxex xPxoxrxtxrxaxixtx:<br>x xWxoxrxlxdx xCxoxnxqxuxexrxoxrx,x 2011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $590,820, Initial Acquisition Date: 04/30/2024) | &nbsp;&nbsp;&nbsp; 29541  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573483  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $3,266, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 222  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4310  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterworks 426, xLxLxCx-xWxoxoxdx,x <br>xJxoxnxaxsx;x xWxhxixtxex xOxrxcxhxixdx xwxixtxhx xBxlxuxex xLxexaxvxexsx,x 2020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $182,000, Initial Acquisition Date: 05/28/2024) | &nbsp;&nbsp;&nbsp; 9100  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183376  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,052, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1389  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 428, xLxLxCx-xKxuxsxuxmxax,x xYxaxyxoxix;x xIxnxfxixnxixtxyx-xNxextxsx x(xFxKxQxSx)x,x 2016 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $430,080, Acquisition Date: 06/11/2024) | &nbsp;&nbsp;&nbsp; 21504  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307374  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 434, xLxLxCx-xNxexexlx,x xAxlxixcxex;x xDxaxvxixdx xMxcxkxexex xAxnxdx xHxixsx xFxixrxsxtx xWxixfxex xJxaxnxex,x 1968 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $402,340, Acquisition Date: 08/28/2024) | &nbsp;&nbsp;&nbsp; 20117  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470291  |
| &nbsp;&nbsp;&nbsp;&nbsp; Masterworks 446, xLxLxCx-xBxaxsxqxuxixaxtx,x xJxexaxnx-xMxixcxhxexlx;x xUxnxtxixtxlxexdx x(xCxaxvxex xPxaxixnxtxixnxgx)x,x 1982 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $1,387,220, Initial Acquisition Date: 10/29/2024) | &nbsp;&nbsp;&nbsp; 69361  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600373  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost: $10,420, Acquisition Date: 08/29/2025)(d) | &nbsp;&nbsp;&nbsp;&nbsp; 521  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12021  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Class A Equity Shares** <br>**(Cost $108,969,643)** |  | **$108485433**  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value**  |
|  **Short-Term Investments - 1.1%** |  |  |
|  **Money Market Funds - 1.1%** |  |  |
|  First American Government Obligations Fund - Class X - 3.58% (e) | &nbsp;&nbsp; 612693  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $612693  |
|  Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class - 3.57% (e) | &nbsp;&nbsp; 612692  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 612692  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>**(Cost $1,225,385)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1225385**  |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>**(Cost $110,195,028) - 98.8%** |  | **$109710818**  |
|  **ASSETS IN EXCESS OF OTHER LIABILITIES -1.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **1367646**  |
|  **TOTAL NET ASSETS - 100.0%** |  | **$111078464** |

---

Percentages are stated as a percent of net assets.

(a) Security is fair valued by the Adviser Valuation Committee pursuant to procedures approved by the Board of Trustees. The aggregate value of these securities is $108,485,433 which represented 97.7% of net assets.

(b)<br> Non-Income producing security.<br>

(c)<br> Security is illiquid.<br>

(d) Security is restricted as to resale. The aggregate value of these securities at April 30, 2026, was $3,439,177, which represented 3.1% of net assets.

(e)<br> Rate shown is the 7-day effective yield.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.(Continued)<br>

**10**<br>

------

Consolidated Schedule of Investments as of April 30, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp; **STONE RIDGE ART RISK PREMIUM FUND** <br>

#### Prepaid Forward Contract (a)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Artwork Contract** | **Counterparty** | **Contract** <br>**Date** | **Cost** | **Fair Value**  |
|  Sxtxixlxlx, Cxlxyxfxfxoxrxdx; PxHx-x6x9x (xbx)  | Masterworks, LLC | &nbsp;&nbsp;&nbsp;&nbsp; 8/30/2023 | $7423164  | $10970753  |
|  Cxoxnxdxox, Gxexoxrxgxex; Axuxtxuxmxn ixnx Sxoxhxo (xcx)  | Masterworks, LLC | &nbsp;&nbsp;&nbsp;&nbsp; 3/13/2024 | &nbsp;&nbsp; 1914500  | &nbsp;&nbsp;&nbsp;&nbsp; 2899375  |
|  Mxixtxcxhxexlxlx, Jxoxaxnx; Bxlxuxexbxexrxrxy (xcx)  | Masterworks, LLC | &nbsp;&nbsp;&nbsp;&nbsp; 6/6/2024 | &nbsp;&nbsp; 6467110  | &nbsp;&nbsp;&nbsp;&nbsp; 8794096  |
|  Hockney, David; Almost Like Skiing (c) | Masterworks, LLC | &nbsp;&nbsp;&nbsp;&nbsp; 1/22/2025 | &nbsp;&nbsp; 2157678  | &nbsp;&nbsp;&nbsp;&nbsp; 3491226  |
|  Mark Bradford; Sample 2 (d) | Masterworks, LLC | &nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | &nbsp;&nbsp; 1213644  | &nbsp;&nbsp;&nbsp;&nbsp; 1844986  |
|  |  |  |  | **$28000436** |

---

(a)<br> Security is fair valued by the Adviser and has significant unobservable inputs.<br>

(b) The forward contract is prepaid by the buyer and may be physically or cash settled. If the contract is to be cash settled, the final settlement price will be based upon sale of the artwork as agreed by the parties. The termination date is the earlier of (i) 100 days from the valuation date of the artwork in November 2026 or May 2027, as selected by the seller, or as otherwise agreed to by the parties, and (ii) two business days following sale of the artwork.

(c) The forward contract is prepaid by the buyer and may be physically or cash settled. If the contract is to be cash settled, the final settlement price will be based upon sale of the artwork as agreed by the parties. The termination date is the earlier of (i) 100 days from the valuation date of the artwork in November 2027 or May 2028, as selected by the seller, or as otherwise agreed to by the parties, and (ii) two business days following sale of the artwork.

(d) The forward contract is prepaid by the buyer and may be physically or cash settled. If the contract is to be cash settled, the final settlement price will be based upon sale of the artwork as agreed by the parties. The termination date is the earlier of (i) 100 days from the valuation date of the artwork in May 2028, as selected by the seller, or as otherwise agreed to by the parties, and (ii) two business days following sale of the artwork. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying Notes to the Consolidated Schedule of Investments are an integral part of the Consolidated Schedule of Investments.<br>

**11**<br>

------

#### **TABLE OF CONTENTS**
Notes to Consolidated Financial Statements as of April 30, 2026 (Unaudited)

1. Summary of Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by the Stone Ridge Art Risk Premium Fund (the "Fund") in the preparation of its consolidated financial statements. The consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America ("GAAP"). The Fund is an investment company and applies specific accounting and financial reporting requirements under Financial Accounting Standards Board ("FASB") Accounting Standards Topic 946, *Financial Services - Investment Companies*.

2. Investment Valuation and Fair Value Measurement

The Board of Trustees (the "Board") of Stone Ridge Trust VIII has approved procedures pursuant to which the Fund values its investments (the "Valuation Procedures"). The Board has established a Valuation Committee (the "Board Valuation Committee"), which has designated Stone Ridge Asset Management LLC ("Stone Ridge" or the "Adviser") to serve as "valuation designee" in accordance with Rule 2a-5 of the Investment Company Act of 1940, as amended and, in that capacity, to bear responsibility for implementing the Valuation Procedures, including performing fair valuation determinations relating to all investments held by the Fund (as needed), 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.

Generally, the Fund must value its assets using market quotations when they are readily available. If, with respect to any portfolio instrument, market quotations are not readily available or available market quotations are deemed to be unreliable by Stone Ridge, then such instruments will be valued as determined in good faith by Stone Ridge.

The Fund generally expects that the Artwork it holds will be fair valued by Stone Ridge in accordance with the Valuation Procedures and with assistance from certain Fund service providers. Listed below is a summary of certain of the methodologies generally used currently to fair value investments in Artwork, the special purpose vehicles that own Artwork or partial interests in Artwork (each, an "Artwork Company") and the prepaid forward contracts on Artwork held by the Fund under the Valuation Procedures. The Artwork held by the Fund will be fair valued based on some or all the following fair valuation methodologies:

&nbsp;&nbsp;&nbsp;&nbsp;• Assessment of the acquisition
 cost of Artwork or Artwork Company investments adjusted by premium or discount factors based on the Adviser's assessment of economic,
 environmental conditions or other events that may result in higher or lower prices for Artwork or Artwork Company investments generally.

&nbsp;&nbsp;&nbsp;&nbsp;• Assessment of recent comparable
 public and, to the extent verifiable, private sale prices for similar Artwork that is available and reliable and price trend information
 for comparable Artwork.

&nbsp;&nbsp;&nbsp;&nbsp;• Assessment of artist-level
 and art-market segment level pricing information and benchmarks that are available and reliable and price trend information for such specific
 artist's works.

&nbsp;&nbsp;&nbsp;&nbsp;• Assessment of pricing information
 provided by third-party service providers or valuation agents, including Masterworks or Masterworks Administrative Services, LLC ("Masterworks
 AS" or "Artwork Administrator").

&nbsp;&nbsp;&nbsp;&nbsp;• Assessment of any other
 available information that the Adviser deems relevant to the valuation of Artwork or Artwork Company investments.

Fair value pricing of Artwork will require subjective determinations about the value of Artwork. Fair values may differ from prices that are used by others, for the same investments. Also, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets or liabilities held by the Fund. It is possible that the fair value determined for an investment may be materially different than the value that could be realized upon the sale of such security. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders' investments in the Fund. <br>

**12**<br>

------

Notes to Consolidated Financial Statements as of April 30, 2026 (Unaudited)

The Adviser will generally determine the value of the Artwork Company investment by using the value of the underlying single work of art adjusted for any factors required to convert the value of the artwork asset to the value of the equity security. These factors include but are not limited to the fees charged to the Artwork Company, any secondary market or other transactions for Artwork Company shares, the perceived likelihood of a sale of the Artwork underlying the Artwork Company, the perceived timing of any such sale, the perceived likelihood of the form of any such sale (i.e., sale at auction versus sale in the private market) and any fees or expenses associated with such form, the perceived future appreciation rate of such Artwork, other market-wide or economic conditions or factors, or other factors deemed relevant by the Adviser. The Advisor will generally determine the value of the prepaid forward contract by using the value of the underlying single work of art adjusted for any fees owed to the counterparty as part of the contract. The Adviser values the underlying Artwork using a sales comparison approach (the "Sales Comparison Approach"), which is an appraisal method that compares the Artwork to a set of artworks with similar characteristics that have recently sold ("comparables" or "comps") and taking into account certain other factors (art-specific factors, artist-specific factors, market factors and any changes to the condition of the Artwork). The valuation of the Artwork will be carried out by an appraiser upon the sale of a comparable (or if more than 180 days have passed since acquisition of the artwork without a sale of a comparable during such 180 days) and documented in an appraisal report.

The Fund adheres to authoritative fair valuation accounting standards that set out a hierarchy for measuring fair valuation inputs. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1 Inputs: quoted prices (unadjusted) in active markets for identical assets or liabilities that the Fund can access at the measurement date;

Level 2 Inputs: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly including inputs in markets that are not considered to be active or in active markets for similar assets or liabilities, observable inputs other than quoted prices and inputs that are not directly observable but are corroborated by observable market data;

Level 3 Inputs: significant unobservable inputs for the asset or liability.

Inputs are used in applying the various valuation techniques and broadly refer to the assumptions that market participants use to make valuation decisions, including assumptions about risk. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes "observable" requires significant judgment by the Adviser. The Adviser considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorization of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Adviser's perceived risk of that instrument.

The table below summarizes assets and liabilities measured at fair value on a recurring basis as of April 30, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL**  |
|  ***Assets***<br>|  |  |  |  |
|  Class A Equity Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | $108485433  | $108485433  |
| &nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1225385  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1225385  |
|  **Total Investments**  | &nbsp;&nbsp;&nbsp;&nbsp; **$1225385**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$—**  | **$108485433**  | **$109710818**  |
|  **Total Other Financial Instruments**<br>|  |  |  |  |
|  Prepaid Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—  | &nbsp;&nbsp; $28000436  | &nbsp;&nbsp; $28000436  |
|  **Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$—**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$—**  | &nbsp;&nbsp; **$28000436**  | &nbsp;&nbsp; **$28000436** |

---

**13**<br>

------

Notes to Consolidated Financial Statements as of April 30, 2026 (Unaudited)

Below is a reconciliation that details the activity of securities classified in Level 3 during the period ended April 30, 2026:

---

| | | |
|:---|:---|:---|
|  | **Class A Equity** <br>**Shares** | **Prepaid Forward** <br>**Contracts**  |
| &nbsp;&nbsp; **Beginning Balance — July 31, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $104052380  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $25178450  |
| &nbsp;&nbsp; Acquisitions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2550066  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1533858  |
| &nbsp;&nbsp; Dispositions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 gains (losses) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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; Change in unrealized appreciation/(depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1882987  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1288128  |
|  Transfers in/(out) Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $108485433  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $28000436 |

---

As of April 30, 2026, the change in unrealized appreciation (depreciation) on positions still held by the Fund was $1,882,987 for Class A Equity Shares and $1,288,128 for Prepaid Forward Contracts.

The following table summarizes the quantitative inputs used for investments categorized as Level 3 of the fair value hierarchy as of April 30, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **TYPE OF SECURITY** | **INDUSTRY** | **FAIR VALUE AT** <br>**04/30/2026** | **VALUATION** <br>**TECHNIQUES** | **UNOBSERVABLE** <br>**INPUTS** | **RANGE** | **WEIGHTED** <br>**AVERAGE**  |
|  Class A Equity Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Art | $108485433  | Sales Comparison Approach | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; N/A  |
|  Prepaid Forward Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Art | &nbsp;&nbsp; $28000436  | Sales Comparison Approach | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; N/A |

---

The Artwork underlying each Artwork Company or prepaid forward contract is valued using the Sales Comparison Approach, which is an appraisal method carried out by an independent third-party appraiser that compares the Artwork to a set of comparable artworks. The appraiser selects the comparable artworks by identifying artworks that have similar characteristics to the Artwork in question (e.g., artist, genre, time period, size, date of the work's creation, medium, series, imagery, technique, color, condition, provenance, exhibition history, prior sales history and any other relevant information); considering the recency of such artworks' sales data; and considering the reliability of such sales data. The appraiser assigns a value to the Artwork in question based on the similarity of the physical characteristics and condition of the comparable artworks to the Artwork in question; the appraiser's perceived quality of the comparable relative to the Artwork in question; the date of the comparable work's most recent sale; and the source of the relevant sales data. The appraiser may also incorporate art-specific factors, artist-specific factors, market factors and/or the physical condition of the Artwork into the fair valuation of the Artwork. The appraisers do not, in any formulaic or mathematical manner, make adjustments to the sales comparable figures, but instead rely on their professional expertise to determine a fair value for the Artwork that is based on the different sales comparable figures, using a qualitative approach. To fair value the Artwork Company investments, the fees and expenses paid to the sponsor of the Artwork Company, as described in the offering documents of each Artwork Company, are subtracted from the fair value of the underlying Artwork and that value is then prorated to reflect the number of shares of the Artwork Company owned by the Fund. The Adviser will additionally adjust the fair value of the underlying Artwork for any other factors required to convert the value of the artwork asset to the value of the equity security. These factors include but are not limited to any secondary market or other transactions for Artwork Company shares, the perceived likelihood of a sale of the Artwork underlying the Artwork Company, the perceived timing of any such sale, the perceived likelihood of the form of any such sale (i.e., sale at auction versus sale in the private market) and any fees or expenses associated with such form, the perceived future appreciation rate of such Artwork, other market-wide or economic conditions or factors, or other factors deemed relevant by the Adviser.

To fair value the prepaid forward, any fees owed to the contract counterparty are subtracted from the fair value of the underlying Artwork.

**14**<br>

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Stone Ridge Trust VIII

- **b. Investment Company Act file number:** 811-23824

- **c. CIK number of Registrant:** 0001939052

- **d. LEI of Registrant:** 549300D80SYETZAITO45

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

  - **Street Address 1:** One Vanderbilt Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 855-609-3680

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

- **a. Name of Series:** Stone Ridge Art Risk Premium Fund

- **c. LEI of Series:** 549300D80SYETZAITO45

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $137780832.81

**Total Liabilities:** $26702369.05

**Net Assets:** $111078463.76

**Amount of Assets Invested in Other Investment Companies:** $29355765.79

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.37%               | 0.00%                | -0.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-221675.71                                |
| Month 2  | $0.00                    | $-116671.38                                |
| Month 3  | $0.00                    | $-2367.46                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Masterworks 042., LLC          | Masterworks 042., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     45115 | NS      | $1086215.81   | 0.98%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 043., LLC          | Masterworks 043., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     31752 | NS      | $478870.96    | 0.43%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 047., LLC          | Masterworks 047., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12216 | NS      | $231737.52    | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 059., LLC          | Masterworks 059., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     42995 | NS      | $588141.50    | 0.53%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 128., LLC          | Masterworks 128., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     16009 | NS      | $242169.74    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 111., LLC          | Masterworks 111., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     30878 | NS      | $292139.85    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 136., LLC          | Masterworks 136., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     28858 | NS      | $394889.99    | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 164., LLC          | Masterworks 164., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     34549 | NS      | $296409.69    | 0.27%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 182., LLC          | Masterworks 182., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7913 | NS      | $155482.54    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 066., LLC          | Masterworks 066., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32944 | NS      | $590880.29    | 0.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 074., LLC          | Masterworks 074., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     83184 | NS      | $1808079.11   | 1.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 417., LLC          | Masterworks 417., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12728 | NS      | $246527.36    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 389., LLC          | Masterworks 389., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7634 | NS      | $123402.85    | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| Stone Ridge 1                  | Stone Ridge 1                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $10970753.42  | 9.88%             |  |  |  | No            |                  3 | On Loan: No      |
| Stone Ridge 5                  | Stone Ridge 5                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $1844986.30   | 1.66%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 084., LLC          | Masterworks 084., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12403 | NS      | $137858.10    | 0.12%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 093., LLC          | Masterworks 093., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    227687 | NS      | $4284705.04   | 3.86%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 099., LLC          | Masterworks 099., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3730 | NS      | $59975.79     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 108., LLC          | Masterworks 108., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     37198 | NS      | $740403.87    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 116., LLC          | Masterworks 116., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     71494 | NS      | $1156536.99   | 1.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 117., LLC          | Masterworks 117., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     49096 | NS      | $668260.38    | 0.60%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 121., LLC          | Masterworks 121., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    100771 | NS      | $1480900.38   | 1.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 133., LLC          | Masterworks 133., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15652 | NS      | $267425.38    | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 146., LLC          | Masterworks 146., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20868 | NS      | $370273.44    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 152., LLC          | Masterworks 152., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9384 | NS      | $190565.58    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 153., LLC          | Masterworks 153., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17293 | NS      | $365368.23    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 171., LLC          | Masterworks 171., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11642 | NS      | $111070.50    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 214., LLC          | Masterworks 214., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22892 | NS      | $486464.16    | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 245., LLC          | Masterworks 245., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20753 | NS      | $448318.76    | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 273., LLC          | Masterworks 273., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     27014 | NS      | $493626.82    | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 286., LLC          | Masterworks 286., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     60004 | NS      | $1057636.50   | 0.95%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 312., LLC          | Masterworks 312., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21888 | NS      | $492313.65    | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 318., LLC          | Masterworks 318., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      6343 | NS      | $163561.23    | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 334., LLC          | Masterworks 334., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12620 | NS      | $245706.35    | 0.22%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 391., LLC          | Masterworks 391., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9150 | NS      | $172758.41    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 406., LLC          | Masterworks 406., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17156 | NS      | $268434.79    | 0.24%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 434., LLC          | Masterworks 434., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20117 | NS      | $470291.20    | 0.42%             |  |  |  | No            |                  3 | On Loan: No      |
| Stone Ridge 3                  | Stone Ridge 3                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $8794095.89   | 7.92%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 048., LLC          | Masterworks 048., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4346 | NS      | $76447.88     | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 050., LLC          | Masterworks 050., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     34941 | NS      | $678680.01    | 0.61%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 054., LLC          | Masterworks 054., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    143601 | NS      | $3630764.60   | 3.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 062., LLC          | Masterworks 062., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32207 | NS      | $451680.63    | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 063., LLC          | Masterworks 063., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     29125 | NS      | $289412.21    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 064., LLC          | Masterworks 064., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     89870 | NS      | $1604323.29   | 1.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 068., LLC          | Masterworks 068., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     53043 | NS      | $888571.03    | 0.80%             |  |  |  | Yes           |                  3 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    612692 | NS      | $612692.28    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterworks 073., LLC          | Masterworks 073., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32599 | NS      | $285814.99    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 076., LLC          | Masterworks 076., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12459 | NS      | $113968.70    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 079., LLC          | Masterworks 079., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     27051 | NS      | $303991.02    | 0.27%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 080., LLC          | Masterworks 080., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12134 | NS      | $261616.32    | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 109., LLC          | Masterworks 109., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     80692 | NS      | $1477978.88   | 1.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 083., LLC          | Masterworks 083., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     38386 | NS      | $765140.46    | 0.69%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 089., LLC          | Masterworks 089., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12476 | NS      | $315685.22    | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 091., LLC          | Masterworks 091., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     53706 | NS      | $1776696.52   | 1.60%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 092., LLC          | Masterworks 092., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     92808 | NS      | $1623657.40   | 1.46%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 098., LLC          | Masterworks 098., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22164 | NS      | $353187.77    | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 113., LLC          | Masterworks 113., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11385 | NS      | $146380.36    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 044., LLC          | Masterworks 044., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     33233 | NS      | $764777.74    | 0.69%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 046., LLC          | Masterworks 046., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32321 | NS      | $721630.97    | 0.65%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 096., LLC          | Masterworks 096., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     41018 | NS      | $882059.28    | 0.79%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 147., LLC          | Masterworks 147., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     24390 | NS      | $373159.68    | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 148., LLC          | Masterworks 148., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12266 | NS      | $287486.83    | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 162., LLC          | Masterworks 162., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14387 | NS      | $127064.55    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 167., LLC          | Masterworks 167., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     38512 | NS      | $740389.35    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 193., LLC          | Masterworks 193., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8145 | NS      | $170768.07    | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 114., LLC          | Masterworks 114., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     16776 | NS      | $347566.85    | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 120., LLC          | Masterworks 120., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3235 | NS      | $31971.51     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 088., LLC          | Masterworks 088., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     40312 | NS      | $560014.30    | 0.50%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 105., LLC          | Masterworks 105., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     25947 | NS      | $231794.93    | 0.21%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 217., LLC          | Masterworks 217., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     25753 | NS      | $370209.68    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 115., LLC          | Masterworks 115., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9039 | NS      | $79383.21     | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 118., LLC          | Masterworks 118., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22393 | NS      | $370263.78    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 090., LLC          | Masterworks 090., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     75927 | NS      | $1393032.67   | 1.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 163., LLC          | Masterworks 163., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7933 | NS      | $194610.77    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 125., LLC          | Masterworks 125., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     42695 | NS      | $1164254.22   | 1.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 197., LLC          | Masterworks 197., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     54380 | NS      | $1319182.67   | 1.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 311., LLC          | Masterworks 311., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     45250 | NS      | $1365721.93   | 1.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 228., LLC          | Masterworks 228., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    130152 | NS      | $2493061.56   | 2.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Stone Ridge 2                  | Stone Ridge 2                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $2899375.00   | 2.61%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 126., LLC          | Masterworks 126., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4456 | NS      | $69588.46     | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 131., LLC          | Masterworks 131., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     16782 | NS      | $271433.75    | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 122., LLC          | Masterworks 122., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     42621 | NS      | $707721.71    | 0.64%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 129., LLC          | Masterworks 129., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     29583 | NS      | $694342.59    | 0.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 140., LLC          | Masterworks 140., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     41036 | NS      | $740474.10    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 154., LLC          | Masterworks 154., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21971 | NS      | $394884.78    | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 158., LLC          | Masterworks 158., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9076 | NS      | $223870.43    | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 166., LLC          | Masterworks 166., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     27438 | NS      | $515834.40    | 0.46%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 174., LLC          | Masterworks 174., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      6026 | NS      | $53333.72     | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 191., LLC          | Masterworks 191., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     54368 | NS      | $913192.11    | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 254., LLC          | Masterworks 254., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     35626 | NS      | $567472.30    | 0.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 258., LLC          | Masterworks 258., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20804 | NS      | $312992.02    | 0.28%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 262., LLC          | Masterworks 262., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    119698 | NS      | $2600881.93   | 2.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 275., LLC          | Masterworks 275., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     37585 | NS      | $337069.80    | 0.30%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 278., LLC          | Masterworks 278., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     30469 | NS      | $589148.58    | 0.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 279., LLC          | Masterworks 279., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     27808 | NS      | $229296.43    | 0.21%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 325., LLC          | Masterworks 325., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     43364 | NS      | $740479.33    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 326., LLC          | Masterworks 326., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20804 | NS      | $286629.19    | 0.26%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 341., LLC          | Masterworks 341., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     56178 | NS      | $1705648.35   | 1.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 390., LLC          | Masterworks 390., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     13053 | NS      | $253470.99    | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 399., LLC          | Masterworks 399., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7508 | NS      | $80993.30     | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 400., LLC          | Masterworks 400., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     33499 | NS      | $474509.99    | 0.43%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 410., LLC          | Masterworks 410., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     40521 | NS      | $703910.55    | 0.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 157., LLC          | Masterworks 157., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     14369 | NS      | $246675.50    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 386., LLC          | Masterworks 386., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32349 | NS      | $630148.82    | 0.57%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 132., LLC          | Masterworks 132., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3105 | NS      | $58743.50     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 145., LLC          | Masterworks 145., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8085 | NS      | $136998.71    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 177., LLC          | Masterworks 177., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20107 | NS      | $432841.38    | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 196., LLC          | Masterworks 196., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     45732 | NS      | $873485.77    | 0.79%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 215., LLC          | Masterworks 215., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     34337 | NS      | $586184.10    | 0.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 236., LLC          | Masterworks 236., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     36418 | NS      | $787400.86    | 0.71%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 282., LLC          | Masterworks 282., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    152622 | NS      | $3097066.67   | 2.79%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 300., LLC          | Masterworks 300., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     19983 | NS      | $771048.05    | 0.69%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 348., LLC          | Masterworks 348., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22541 | NS      | $533189.32    | 0.48%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 355., LLC          | Masterworks 355., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     24587 | NS      | $601877.47    | 0.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 380., LLC          | Masterworks 380., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17463 | NS      | $324108.04    | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 387., LLC          | Masterworks 387., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9709 | NS      | $153457.54    | 0.14%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 388., LLC          | Masterworks 388., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12483 | NS      | $122192.34    | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 396., LLC          | Masterworks 396., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15256 | NS      | $205444.92    | 0.18%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 407., LLC          | Masterworks 407., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     31900 | NS      | $697318.05    | 0.63%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 414., LLC          | Masterworks 414., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     19242 | NS      | $368657.48    | 0.33%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 418., LLC          | Masterworks 418., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7723 | NS      | $174109.63    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 426., LLC          | Masterworks 426., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9169 | NS      | $184765.44    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 040., LLC          | Masterworks 040., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9495 | NS      | $107966.70    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 055., LLC          | Masterworks 055., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     61637 | NS      | $1431272.78   | 1.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 123., LLC          | Masterworks 123., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      6852 | NS      | $71719.20     | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 127., LLC          | Masterworks 127., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     31891 | NS      | $604493.91    | 0.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 130., LLC          | Masterworks 130., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     62190 | NS      | $638933.84    | 0.58%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 165., LLC          | Masterworks 165., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12986 | NS      | $277122.54    | 0.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 192., LLC          | Masterworks 192., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21461 | NS      | $272722.10    | 0.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 416., LLC          | Masterworks 416., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11939 | NS      | $161872.54    | 0.15%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 419., LLC          | Masterworks 419., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     29763 | NS      | $577792.10    | 0.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MSILF Government Portfolio     | MSILF Government Portfolio                 | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    612692 | NS      | $612692.29    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterworks 056., LLC          | Masterworks 056., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     65886 | NS      | $885698.91    | 0.80%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 057., LLC          | Masterworks 057., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     19093 | NS      | $359120.24    | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 058., LLC          | Masterworks 058., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    154487 | NS      | $3220853.12   | 2.90%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 071., LLC          | Masterworks 071., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10756 | NS      | $187045.76    | 0.17%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 072., LLC          | Masterworks 072., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     38107 | NS      | $740403.77    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 041., LLC          | Masterworks 041., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     27709 | NS      | $485492.16    | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 049., LLC          | Masterworks 049., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     70618 | NS      | $1110630.47   | 1.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 053., LLC          | Masterworks 053., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     26183 | NS      | $301688.38    | 0.27%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 103., LLC          | Masterworks 103., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     13427 | NS      | $343673.46    | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 110., LLC          | Masterworks 110., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     26571 | NS      | $308290.03    | 0.28%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 124., LLC          | Masterworks 124., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     43297 | NS      | $691132.69    | 0.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 156., LLC          | Masterworks 156., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     45604 | NS      | $592332.11    | 0.53%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 176., LLC          | Masterworks 176., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20172 | NS      | $421282.13    | 0.38%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 239., LLC          | Masterworks 239., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     59773 | NS      | $1404049.84   | 1.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 274., LLC          | Masterworks 274., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     25310 | NS      | $468961.40    | 0.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 309., LLC          | Masterworks 309., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10092 | NS      | $195504.24    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 329., LLC          | Masterworks 329., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7147 | NS      | $138429.53    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 075., LLC          | Masterworks 075., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     64412 | NS      | $1224890.80   | 1.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 095., LLC          | Masterworks 095., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     37970 | NS      | $676663.37    | 0.61%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 097., LLC          | Masterworks 097., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     26666 | NS      | $474532.14    | 0.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 101., LLC          | Masterworks 101., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     87977 | NS      | $1591240.00   | 1.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 369., LLC          | Masterworks 369., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     18730 | NS      | $491433.99    | 0.44%             |  |  |  | No            |                  3 | On Loan: No      |
| Stone Ridge 4                  | Stone Ridge 4                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |         1 | NS      | $3491226.03   | 3.14%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 104., LLC          | Masterworks 104., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8694 | NS      | $147740.62    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 106., LLC          | Masterworks 106., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     39170 | NS      | $830270.82    | 0.75%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 107., LLC          | Masterworks 107., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10937 | NS      | $108217.24    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 112., LLC          | Masterworks 112., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3811 | NS      | $29470.08     | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 139., LLC          | Masterworks 139., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     26217 | NS      | $370212.88    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 142., LLC          | Masterworks 142., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     24093 | NS      | $294455.01    | 0.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 159., LLC          | Masterworks 159., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     23219 | NS      | $606285.24    | 0.55%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 160., LLC          | Masterworks 160., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     16438 | NS      | $181071.15    | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 168., LLC          | Masterworks 168., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9975 | NS      | $197470.09    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 169., LLC          | Masterworks 169., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12243 | NS      | $209794.82    | 0.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 172., LLC          | Masterworks 172., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     20179 | NS      | $383552.34    | 0.35%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 173., LLC          | Masterworks 173., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     19708 | NS      | $217217.63    | 0.20%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 178., LLC          | Masterworks 178., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     30045 | NS      | $633534.88    | 0.57%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 179., LLC          | Masterworks 179., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     24474 | NS      | $370240.22    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 180., LLC          | Masterworks 180., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11505 | NS      | $111076.17    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 186., LLC          | Masterworks 186., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     33634 | NS      | $470647.29    | 0.42%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 218., LLC          | Masterworks 218., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32906 | NS      | $641683.45    | 0.58%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 219., LLC          | Masterworks 219., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     52651 | NS      | $716459.01    | 0.65%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 230., LLC          | Masterworks 230., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22184 | NS      | $394912.91    | 0.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 241., LLC          | Masterworks 241., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     24941 | NS      | $431910.78    | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 261., LLC          | Masterworks 261., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     39349 | NS      | $799079.82    | 0.72%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 268., LLC          | Masterworks 268., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     85451 | NS      | $1604333.98   | 1.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 304., LLC          | Masterworks 304., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8945 | NS      | $173254.81    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 338., LLC          | Masterworks 338., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      6783 | NS      | $150246.84    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 371., LLC          | Masterworks 371., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12585 | NS      | $246806.95    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 393., LLC          | Masterworks 393., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     26158 | NS      | $518294.61    | 0.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 395., LLC          | Masterworks 395., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7634 | NS      | $123543.31    | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 398., LLC          | Masterworks 398., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     36535 | NS      | $578772.86    | 0.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 402., LLC          | Masterworks 402., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12242 | NS      | $415167.84    | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Masterworks 428., LLC          | Masterworks 428., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     21504 | NS      | $307373.88    | 0.28%             |  |  |  | No            |                  3 | On Loan: No      |
| Masterworks 446., LLC          | Masterworks 446., LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     69882 | NS      | $1612394.37   | 1.45%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-23

**Name of Applicant:** Stone Ridge Trust VIII

**Signature:** Maura Keselowsky

**Name of Signer:** Maura Keselowsky

**Title:** Treasurer, Principal Financial Officer, Chief Financial Officer and Chief Accounting Officer