Stone Ridge Reinsurance Risk Premium Interval Fund

Data through 2026-04-30 · latest filing N-23C3A filed 2026-07-31

Sponsored by Stone Ridge. Interval Fund structure focused on insurance-linked securities.

Interval FundInsurance-linked securities

Sponsor: Stone Ridge
CIK: 0001581005
Liquidity: Quarterly repurchase offers at NAV
Inception: 2013

Net assets: $1.52B

source

Monthly portfolio report (Form N-PORT) · filed 2026-06-29 · period 2026-04-30

Net assets (N-PORT Part B, Item B.2)

Method Direct: read from a structured filing field

Open the filing on SEC.gov · Full observation history

Technical locator

NPORT-P netAssets | https://www.sec.gov/Archives/edgar/data/1581005/000119312526287710/xslFormNPORT-P_X01/primary_doc.xml
NAV / share: $59.18

source

Semiannual shareholder report (Form N-CSRS) · filed 2026-07-09 · period 2026-04-30

financial-highlights end-of-period NAV (fallback)

“Net asset value, end of year $ 59.18”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1581005/000113322826010229/srtll-efp25316_ncsrs.htm | financial-highlights end-of-period NAV (fallback)
Net flows, last qtr: +4.7%
Distribution coverage (NII): 51%
Leverage in use: Unlevered
Total return, 12m: Pending

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

Red flag

NAV per share fell 6.7% from $63.41 to $59.18 (2026-04-30).

NAV per share fell 6.7% from $63.41 to $59.18 (2026-04-30). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

Why it matters and what changed

A 5%+ single-month NAV decline is a severe markdown for a private-markets vehicle and usually coincides with a portfolio-level credit or valuation problem being recognized.

63.41 -> 59.18 (down 6.7% vs prior period); trailing 4-period average 58.41; same period prior year 52.34; comparison interval: ~6 months (2025-10-31 -> 2026-04-30; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: https://www.sec.gov/Archives/edgar/data/1581005/000113322826010229/srtll-efp25316_ncsrs.htm | financial-highlights end-of-period NAV (fallback)

Historical findings (30)

NAV per share fell 10.8% from $58.70 to $52.34 (2025-04-30).
NAV per share fell 10.8% from $58.70 to $52.34 (2025-04-30). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 11.7% from $9.18 to $8.11 (2019-04-30).
NAV per share fell 11.7% from $9.18 to $8.11 (2019-04-30). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 11.4% from $10.36 to $9.18 (2017-10-31).
NAV per share fell 11.4% from $10.36 to $9.18 (2017-10-31). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 4.0% from $54.75 to $52.57 (2024-04-30).
NAV per share fell 4.0% from $54.75 to $52.57 (2024-04-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Net outflow of 6.9% of NAV in the period ended 2024-02-29.
Net outflow of 6.9% of NAV in the period ended 2024-02-29. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.5% of NAV in the period ended 2023-08-31.
Net outflow of 5.5% of NAV in the period ended 2023-08-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.1% of NAV in the period ended 2023-05-31.
Net outflow of 5.1% of NAV in the period ended 2023-05-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 11.7% of NAV in the period ended 2023-02-28.
Net outflow of 11.7% of NAV in the period ended 2023-02-28. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 9.5% of NAV in the period ended 2022-12-31.
Net outflow of 9.5% of NAV in the period ended 2022-12-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

NAV per share fell 2.0% from $38.95 to $38.17 (2022-10-31).
NAV per share fell 2.0% from $38.95 to $38.17 (2022-10-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Net outflow of 11.1% of NAV in the period ended 2022-08-31.
Net outflow of 11.1% of NAV in the period ended 2022-08-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 6.9% of NAV in the period ended 2022-05-31.
Net outflow of 6.9% of NAV in the period ended 2022-05-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 22.8% of NAV in the period ended 2022-02-28.
Net outflow of 22.8% of NAV in the period ended 2022-02-28. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 9.2% of NAV in the period ended 2021-12-31.
Net outflow of 9.2% of NAV in the period ended 2021-12-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

NAV per share fell 4.4% from $39.57 to $37.82 (2021-10-31).
NAV per share fell 4.4% from $39.57 to $37.82 (2021-10-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Net outflow of 10.9% of NAV in the period ended 2021-08-31.
Net outflow of 10.9% of NAV in the period ended 2021-08-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 9.5% of NAV in the period ended 2021-05-31.
Net outflow of 9.5% of NAV in the period ended 2021-05-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

NAV per share fell 3.1% from $40.84 to $39.57 (2021-04-30).
NAV per share fell 3.1% from $40.84 to $39.57 (2021-04-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Net outflow of 20.3% of NAV in the period ended 2021-03-31.
Net outflow of 20.3% of NAV in the period ended 2021-03-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.9% of NAV in the period ended 2020-11-30.
Net outflow of 5.9% of NAV in the period ended 2020-11-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 11.0% of NAV in the period ended 2020-08-31.
Net outflow of 11.0% of NAV in the period ended 2020-08-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 5.4% of NAV in the period ended 2020-06-30.
Net outflow of 5.4% of NAV in the period ended 2020-06-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

NAV per share fell 4.5% from $8.23 to $7.86 (2020-04-30).
NAV per share fell 4.5% from $8.23 to $7.86 (2020-04-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

NAV per share ($7.86) is 5.8% below its trailing four-observation average ($8.35) as of 2020-04-30.
NAV per share ($7.86) is 5.8% below its trailing four-observation average ($8.35) as of 2020-04-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

Net outflow of 24.5% of NAV in the period ended 2020-03-31.
Net outflow of 24.5% of NAV in the period ended 2020-03-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Net outflow of 6.5% of NAV in the period ended 2019-11-30.
Net outflow of 6.5% of NAV in the period ended 2019-11-30. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

NAV per share ($8.23) is 4.8% below its trailing four-observation average ($8.65) as of 2019-10-31.
NAV per share ($8.23) is 4.8% below its trailing four-observation average ($8.65) as of 2019-10-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($8.11) is 8.7% below its trailing four-observation average ($8.88) as of 2019-04-30.
NAV per share ($8.11) is 8.7% below its trailing four-observation average ($8.88) as of 2019-04-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($9.18) is 2.8% below its trailing four-observation average ($9.45) as of 2018-10-31.
NAV per share ($9.18) is 2.8% below its trailing four-observation average ($9.45) as of 2018-10-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($9.07) is 7.7% below its trailing four-observation average ($9.83) as of 2018-04-30.
NAV per share ($9.07) is 7.7% below its trailing four-observation average ($9.83) as of 2018-04-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

NAV per share

Net capital flows, % of NAV

Distribution coverage

Filed performance

Window	Class	Basis	Return	Source
2013-12-09 to 2026-04-30 since inception · annualization not stated	Fund	basis not stated in the filed row	+12.96%	SEC source 0001133228-26-010229 N-CSRS filed 2026-07-09
2024-11-01 to 2025-10-31 fiscal year · annualization not stated	Fund	basis not stated in the filed row Filed return footnote (2) Total return represents the rate that a shareholder would have earned (or lost) on an investment in the Fund (assuming the reinvestment of all dividends and distributions). The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. 22 Stone Ridge Funds \| Annual Report \| October 31, 2025 TABLE OF CONTENTS Notes to Consolidated Financial Statements October 31, 2025 1. Organization Stone Ridge Trust II (the “Trust”) was organized as a Delaware statutory trust on July 17, 2013 and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a continuously-offered diversified closed-end management investment company issuing shares. As of October 31, 2025, the Trust consisted of one series: the Stone Ridge Reinsurance Risk Premium Interval Fund (the “Fund”). The Fund commenced operations on December 9, 2013. The Fund offers one class of shares to investors with no front-end or back-end sales charges, a 0.05% fee paid pursuant to the Distribution and Servicing Plan (as discussed below), a 0.05% fee paid pursuant to the Services Agreement (as discussed below), and no repurchase fee.	+33.00%	SEC source 0001133228-26-000277 N-CSR filed 2026-01-09
2013-12-09 to 2025-04-30 since inception · annualization not stated	Fund	basis not stated in the filed row	+9.78%	SEC source 0001133228-25-007055 N-CSRS filed 2025-07-03
2023-11-01 to 2024-10-31 fiscal year · annualization not stated	Fund	basis not stated in the filed row Filed return footnote (4) Total return represents the rate that a shareholder would have earned (or lost) on an investment in the Fund (assuming the reinvestment of all dividends and distributions). The accompanying Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements. 20 Stone Ridge Funds \| Annual Report \| October 31, 2024 Notes to Consolidated Financial Statements October 31, 2024 1. Organization Stone Ridge Trust II (the “Trust”) was organized as a Delaware statutory trust on July 17, 2013 and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a continuously-offered diversified closed-end management investment company issuing shares. As of October 31, 2024, the Trust consisted of one series: the Stone Ridge Reinsurance Risk Premium Interval Fund (the “Fund”). The Fund commenced operations on December 9, 2013. The Fund offers one class of shares to investors with no front-end or back-end sales charges, a 0.05% fee paid pursuant to the Distribution and Servicing Plan (as discussed below), a 0.05% fee paid pursuant to the Services Agreement (as discussed below), and no repurchase fee.	+28.25%	SEC source 0001133228-25-000397 N-CSR filed 2025-01-10
2013-12-09 to 2024-04-30 since inception · annualization not stated	Fund	basis not stated in the filed row	+14.86%	SEC source 0001193125-24-176148 N-CSRS filed 2024-07-08

Figures are reproduced from filed disclosures with their exact window, class, and stated basis. They are separate from the calculated NAV-plus-distributions index and from manager-source monthly returns.

Monthly performance eligibility

Canonical class: Fund shares · basis: no qualifying monthly chain · qualifying history: 0 months.

1y: Pending; 3y: Pending; 5y: Pending Manager-published observations remain distinct from SEC-filed facts and publish only after declared-crawler, robots, class, exact-window, and SEC-precedence gates pass.

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

Pending

04 / Redemptions

Where exit demand met the cap.

Stated cap: 5% of net assets/quarter. The disclosed history shows no rationed period.

Not disclosed

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Pending

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

Not attributed 100.0%

Share of total net assets ($1,522,746,797) as of 2026-04-30; the hatched band is net assets the filings do not attribute to a captured class.

Class	Terms-based role description	Load	Servicing	Minimum	Assets
Fund shares	Pending	Pending	Pending	Pending	Pending

Management fee: 2.00% of avg daily net assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001133228-26-010229.

Filed fee conditions

As compensation for its services, the Adviser is paid by the Fund a fee, computed daily and paid monthly in arrears, at an annual rate of 2.00% of the Fund's average daily net assets. Separately, the Fund pays intermediary fees of up to 0.05% under a Distribution and Servicing Plan and up to 0.05% under a Services Agreement (both already reflected in the Fund's own Service fees / Distribution and service fees expense lines, not part of the 2.00% Adviser fee itself).

Canonical-class fee profile

Class	Management	Incentive	Load	Servicing	Gross expenses	Net expenses
Fund shares	2.00%	None * None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001193125-26-071908	Pending	Pending	Pending	2.35%filed basis * Filed label: Ratio of expenses to average net assets; period 2025-10-31. After waiver: not separately stated; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001133228-26-000277

Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (1)

Term	Description	Value	Effective
advisory_fee_schedule	As compensation for its services, the Adviser is paid by the Fund a fee, computed daily and paid monthly in arrears, at an annual rate of 2.00% of the Fund's average daily net assets. Separately, the Fund pays intermediary fees of up to 0.05% under a Distribution and Servicing Plan and up to 0.05% under a Services Agreement (both already reflected in the Fund's own Service fees / Distribution and service fees expense lines, not part of the 2.00% Adviser fee itself).	2.0 pct_annual_of_avg_daily_net_assets	Pending

Recent filings

Filed	Form	Accession
2026-07-31	N-23C3A	0001193125-26-327476
2026-07-09	N-CSRS	0001133228-26-010229
2026-06-29	NPORT-P	0001193125-26-287710
2026-04-24	N-23C3A	0001193125-26-175652
2026-04-01	NPORT-P	0001193125-26-136831
2026-02-25	486BPOS	0001193125-26-071908
2026-01-30	N-23C3A	0001193125-26-030787
2026-01-09	N-CSR	0001133228-26-000277
2025-12-30	NPORT-P	0001193125-25-336557
2025-10-24	N-23C3A	0001193125-25-249502
2025-09-26	NPORT-P	0001193125-25-220223
2025-07-25	N-23C3A	0001193125-25-165059
2025-07-03	N-CSRS	0001133228-25-007055
2025-06-27	NPORT-P	0001145549-25-043980
2025-04-25	N-23C3A	0001193125-25-095489