Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC, established in 2012, is an SEC-registered investment adviser specializing in managing various investment companies, pooled investment vehicles, and separately managed accounts. The firm, with Ross Stevens as the principal owner, offers tailored investment advice based on clients' objectives outlined in relevant documents. Stone Ridge exercises full discretionary authority over most client assets, except for certain managed accounts. As of December 31, 2024, the firm managed approximately $18.02 billion in discretionary assets and $9.08 billion in non-discretionary assets. Fees for registered fund clients are non-negotiable, while managed account fees are individually negotiated. Stone Ridge may receive performance-based fees for certain accounts, creating potential conflicts of interest. The firm's investment strategies include reinsurance, alternative lending, and real estate, with detailed descriptions available in relevant documents. Stone Ridge monitors and reviews client accounts periodically, votes on client securities, and may engage in agency cross trades. Clients receive detailed reports and disclosures, and the firm has not been involved in any material disciplinary events. Stone Ridge's brokerage practices prioritize best execution for clients, and the firm may aggregate orders to obtain favorable pricing. Clients are encouraged to review account statements from qualified custodians. Stone Ridge's proxy voting policies aim to act in clients' best interests, with exceptions for insignificant matters or conflicts of interest. The firm's financial condition is stable, with no recent bankruptcy filings.