UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-22761
Investment Company Act file number
Stone Ridge Trust
(Exact name of registrant as specified in charter)
One Vanderbilt Avenue, 65th Floor
New York, New York 10017
(Address of principal executive offices) (Zip code)
Stone Ridge Asset Management LLC
Stone Ridge Trust
One Vanderbilt Avenue, 65th Floor
New York, New York 10017
(Name and address of agent for service)
(855) 609-3680
Registrant’s telephone number, including area code
Date of fiscal year end: December 31, 2024
Date of reporting period: June 30, 2024
Item 1. Reports to Stockholders.
| | |
| LifeX Income Fund 1948F | |
| LFADX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1948F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1948F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,166 |
Number of Holdings | 22 |
Portfolio Turnover | 505% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 7.85% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 91.2% |
Treasury Money Markets | 7.9% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1948F | PAGE 1 | TSR-SAR-861728558 |
| | |
| LifeX Income Fund 1949F | |
| LFAFX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1949F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1949F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,126 |
Number of Holdings | 21 |
Portfolio Turnover | 504% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 7.51% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 90.7% |
Treasury Money Markets | 8.4% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1949F | PAGE 1 | TSR-SAR-861728541 |
| | |
| LifeX Income Fund 1950F | |
| LFAIX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1950F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1950F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,110 |
Number of Holdings | 20 |
Portfolio Turnover | 511% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 7.22% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 93.3% |
Treasury Money Markets | 5.8% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1950F | PAGE 1 | TSR-SAR-861728525 |
| | |
| LifeX Income Fund 1951F | |
| LFAKX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1951F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1951F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,084 |
Number of Holdings | 20 |
Portfolio Turnover | 519% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.95% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 92.8% |
Treasury Money Markets | 6.3% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1951F | PAGE 1 | TSR-SAR-861728418 |
| | |
| LifeX Income Fund 1952F | |
| LFAMX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1952F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1952F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,091 |
Number of Holdings | 24 |
Portfolio Turnover | 519% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.71% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 95.5% |
Treasury Money Markets | 3.6% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1952F | PAGE 1 | TSR-SAR-861728459 |
| | |
| LifeX Income Fund 1953F | |
| LFFFX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1953F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1953F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,055 |
Number of Holdings | 23 |
Portfolio Turnover | 509% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.49% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 93.4% |
Treasury Money Markets | 5.7% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1953F | PAGE 1 | TSR-SAR-861728434 |
| | |
| LifeX Income Fund 1954F | |
| LFAOX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1954F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1954F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,930 |
Number of Holdings | 23 |
Portfolio Turnover | 503% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.30% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.2% |
Treasury Money Markets | 4.9% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1954F | PAGE 1 | TSR-SAR-861728335 |
| | |
| LifeX Income Fund 1955F | |
| LFAQX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1955F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1955F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,031 |
Number of Holdings | 22 |
Portfolio Turnover | 499% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.12% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.6% |
Treasury Money Markets | 4.5% |
Cash & Other | 0.9% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1955F | PAGE 1 | TSR-SAR-861728285 |
| | |
| LifeX Income Fund 1956F | |
| LFAUX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1956F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1956F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,008 |
Number of Holdings | 20 |
Portfolio Turnover | 482% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.95% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.4% |
Treasury Money Markets | 4.6% |
Cash & Other | 1.0% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1956F | PAGE 1 | TSR-SAR-861728269 |
| | |
| LifeX Income Fund 1957F | |
| LFAWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1957F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1957F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,933 |
Number of Holdings | 20 |
Portfolio Turnover | 476% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.80% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 95.4% |
Treasury Money Markets | 3.6% |
Cash & Other | 1.0% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1957F | PAGE 1 | TSR-SAR-861728186 |
| | |
| LifeX Income Fund 1958F | |
| LFFWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1958F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1958F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,987 |
Number of Holdings | 21 |
Portfolio Turnover | 463% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.66% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 96.1% |
Treasury Money Markets | 2.9% |
Cash & Other | 1.0% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1958F | PAGE 1 | TSR-SAR-861728152 |
| | |
| LifeX Income Fund 1959F | |
| LFAZX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1959F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1959F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $201,013 |
Number of Holdings | 22 |
Portfolio Turnover | 459% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.52% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 98.5% |
Treasury Money Markets | 0.5% |
Cash & Other | 1.0% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1959F | PAGE 1 | TSR-SAR-861728178 |
| | |
| LifeX Income Fund 1960F | |
| LFBEX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1960F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1960F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,968 |
Number of Holdings | 21 |
Portfolio Turnover | 446% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.39% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 96.3% |
Treasury Money Markets | 2.7% |
Cash & Other | 1.0% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1960F | PAGE 1 | TSR-SAR-86172A108 |
| | |
| LifeX Income Fund 1961F | |
| LFBGX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1961F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1961F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,977 |
Number of Holdings | 21 |
Portfolio Turnover | 441% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.26% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 97.7% |
Treasury Money Markets | 1.2% |
Cash & Other | 1.1% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1961F | PAGE 1 | TSR-SAR-86172A603 |
| | |
| LifeX Income Fund 1962F | |
| LFBJX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1962F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1962F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,988 |
Number of Holdings | 19 |
Portfolio Turnover | 439% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.14% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 97.2% |
Treasury Money Markets | 1.7% |
Cash & Other | 1.1% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1962F | PAGE 1 | TSR-SAR-86172A801 |
| | |
| LifeX Income Fund 1963F | |
| LFEWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1963F (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1963F | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,983 |
Number of Holdings | 18 |
Portfolio Turnover | 447% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.03% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 97.1% |
Treasury Money Markets | 1.8% |
Cash & Other | 1.1% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1963F | PAGE 1 | TSR-SAR-86172A868 |
| | |
| LifeX Income Fund 1963M | |
| LFEMX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Income Fund 1963M (the “Fund”) for the period of January 8, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Income Fund 1963M | $47* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,970 |
Number of Holdings | 21 |
Portfolio Turnover | 445% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.22% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 96.9% |
Treasury Money Markets | 2.0% |
Cash & Other | 1.1% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Income Fund 1963M | PAGE 1 | TSR-SAR-86172A850 |
| | |
| LifeX Inflation-Protected Income Fund 1948F | |
| LIADX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1948F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1948F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,976 |
Number of Holdings | 15 |
Portfolio Turnover | 252% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 6.25% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 90.6% |
Treasury Money Markets | 9.0% |
Cash & Other | 0.4% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1948F | PAGE 1 | TSR-SAR-861728491 |
| | |
| LifeX Inflation-Protected Income Fund 1949F | |
| LIAFX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1949F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1949F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,880 |
Number of Holdings | 15 |
Portfolio Turnover | 247% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.93% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 90.2% |
Treasury Money Markets | 9.3% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1949F | PAGE 1 | TSR-SAR-861728475 |
| | |
| LifeX Inflation-Protected Income Fund 1950F | |
| LIAIX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1950F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1950F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,772 |
Number of Holdings | 16 |
Portfolio Turnover | 246% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.64% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 89.9% |
Treasury Money Markets | 9.6% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1950F | PAGE 1 | TSR-SAR-861728376 |
| | |
| LifeX Inflation-Protected Income Fund 1951F | |
| LIAKX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1951F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1951F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,736 |
Number of Holdings | 16 |
Portfolio Turnover | 241% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.38% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 92.7% |
Treasury Money Markets | 6.8% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1951F | PAGE 1 | TSR-SAR-861728350 |
| | |
| LifeX Inflation-Protected Income Fund 1952F | |
| LIAMX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1952F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1952F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,691 |
Number of Holdings | 16 |
Portfolio Turnover | 242% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 5.15% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.2% |
Treasury Money Markets | 5.3% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1952F | PAGE 1 | TSR-SAR-861728293 |
| | |
| LifeX Inflation-Protected Income Fund 1953F | |
| LIFWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1953F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1953F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,608 |
Number of Holdings | 15 |
Portfolio Turnover | 259% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.93% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 93.2% |
Treasury Money Markets | 6.3% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1953F | PAGE 1 | TSR-SAR-861728244 |
| | |
| LifeX Inflation-Protected Income Fund 1954F | |
| LIAOX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1954F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1954F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,540 |
Number of Holdings | 15 |
Portfolio Turnover | 255% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.74% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.0% |
Treasury Money Markets | 5.5% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1954F | PAGE 1 | TSR-SAR-861728236 |
| | |
| LifeX Inflation-Protected Income Fund 1955F | |
| LIAQX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1955F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1955F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,496 |
Number of Holdings | 16 |
Portfolio Turnover | 255% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.56% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.4% |
Treasury Money Markets | 5.1% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1955F | PAGE 1 | TSR-SAR-861728145 |
| | |
| LifeX Inflation-Protected Income Fund 1956F | |
| LIAUX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1956F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1956F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,472 |
Number of Holdings | 17 |
Portfolio Turnover | 262% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.39% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 95.7% |
Treasury Money Markets | 3.8% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1956F | PAGE 1 | TSR-SAR-86172A405 |
| | |
| LifeX Inflation-Protected Income Fund 1957F | |
| LIAWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1957F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1957F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,433 |
Number of Holdings | 15 |
Portfolio Turnover | 260% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.24% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 93.9% |
Treasury Money Markets | 5.6% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1957F | PAGE 1 | TSR-SAR-86172A876 |
| | |
| LifeX Inflation-Protected Income Fund 1958F | |
| LIIFX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1958F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1958F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,460 |
Number of Holdings | 15 |
Portfolio Turnover | 263% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 4.09% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 94.9% |
Treasury Money Markets | 4.6% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1958F | PAGE 1 | TSR-SAR-86172A835 |
| | |
| LifeX Inflation-Protected Income Fund 1959F | |
| LIAZX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1959F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1959F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,510 |
Number of Holdings | 16 |
Portfolio Turnover | 263% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.95% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 95.3% |
Treasury Money Markets | 4.2% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1959F | PAGE 1 | TSR-SAR-86172A751 |
| | |
| LifeX Inflation-Protected Income Fund 1960F | |
| LIBEX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1960F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1960F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,496 |
Number of Holdings | 13 |
Portfolio Turnover | 264% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.81% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 91.7% |
Treasury Money Markets | 7.8% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1960F | PAGE 1 | TSR-SAR-86172A736 |
| | |
| LifeX Inflation-Protected Income Fund 1961F | |
| LIBGX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1961F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1961F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,352 |
Number of Holdings | 11 |
Portfolio Turnover | 267% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.69% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 86.5% |
Treasury Money Markets | 13.0% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1961F | PAGE 1 | TSR-SAR-86172A769 |
| | |
| LifeX Inflation-Protected Income Fund 1962F | |
| LIBJX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1962F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1962F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,257 |
Number of Holdings | 8 |
Portfolio Turnover | 269% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.57% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 83.7% |
Treasury Money Markets | 15.8% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1962F | PAGE 1 | TSR-SAR-86172A819 |
| | |
| LifeX Inflation-Protected Income Fund 1963F | |
| LIIWX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1963F (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1963F | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,173 |
Number of Holdings | 7 |
Portfolio Turnover | 278% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.45% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 81.6% |
Treasury Money Markets | 17.9% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1963F | PAGE 1 | TSR-SAR-86172A785 |
| | |
| LifeX Inflation-Protected Income Fund 1963M | |
| LIIMX |
| Semi-Annual Shareholder Report | June 30, 2024 |
This semi-annual shareholder report contains important information about the LifeX Inflation-Protected Income Fund 1963M (the “Fund”) for the period of January 17, 2024, to June 30, 2024. You can find additional information about the Fund at https://www.stoneridgefunds.com/lifex.html. You can also request this information by contacting us at 1-855-609-3680.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
| | |
Fund Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| LifeX Inflation-Protected Income Fund 1963M | $45* | 1.00% |
| * | Amount shown reflects the expenses of the Fund from inception date through June 30, 2024. Expenses would be higher if the Fund had been in operation for the full six months. |
Key Fund Statistics (as of June 30, 2024)
| |
Net Assets | $200,301 |
Number of Holdings | 9 |
Portfolio Turnover | 275% |
Average Credit Quality | Aaa |
Annualized Distribution Rate | 3.64% |
Visit https://www.stoneridgefunds.com/lifex.html for more recent performance information.
What did the Fund invest in? (as of June 30, 2024)
| |
Security Type | % of Net Assets |
U.S. Treasury Securities | 84.1% |
Treasury Money Markets | 15.4% |
Cash & Other | 0.5% |
Householding
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Stone Ridge Asset Management documents not be householded, please contact Stone Ridge Asset Management at 1-855-609-3680, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Stone Ridge Asset Management or your financial intermediary.
For additional information about the Fund, including its prospectus, financial information, holdings and proxy information, scan the QR code shown above or visit https://www.stoneridgefunds.com/lifex.html.
| LifeX Inflation-Protected Income Fund 1963M | PAGE 1 | TSR-SAR-86172A777 |
Item 2. Code of Ethics.
Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable to registrants who are not listed issuers (as defined in Rule 10A-3 under the Securities Exchange Act of 1934).
Item 6. Investments.
| (a) | Schedule of Investments is included within the financial statements filed under Item 7 of this Form N-CSR |
Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.
LIFEX INCOME FUNDS
LIFEX INFLATION-PROTECTED INCOME FUNDS
Semi-Annual Report
June 30, 2024
Unaudited
TABLE OF CONTENTS
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Schedule of Investments (Unaudited)
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TABLE OF CONTENTS
LifeX Income Fund 1948F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 91.2%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 8,000 | | | 8,013 |
4.13%, 02/15/2027 | | | 9,000 | | | 8,898 |
4.50%, 05/15/2027 | | | 3,000 | | | 2,996 |
1.13%, 02/29/2028 | | | 9,000 | | | 7,997 |
4.25%, 02/28/2029 | | | 9,000 | | | 8,961 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 10,000 | | | 9,630 |
4.13%, 03/31/2031 | | | 11,000 | | | 10,857 |
4.63%, 04/30/2031 | | | 1,000 | | | 1,016 |
2.75%, 08/15/2032 | | | 15,000 | | | 13,351 |
4.50%, 11/15/2033 | | | 8,000 | | | 8,075 |
4.00%, 02/15/2034 | | | 8,000 | | | 7,768 |
4.38%, 05/15/2034 | | | 7,000 | | | 7,003 |
4.50%, 02/15/2036 | | | 2,000 | | | 2,038 |
4.75%, 02/15/2037 | | | 30,000 | | | 31,155 |
1.38%, 11/15/2040 | | | 48,000 | | | 30,304 |
4.50%, 02/15/2044 | | | 14,000 | | | 13,738 |
3.38%, 11/15/2048 | | | 9,000 | | | 7,313 |
2.38%, 11/15/2049 | | | 2,000 | | | 1,329 |
TOTAL U.S. TREASURY SECURITIES
(Cost $184,201) | | | | | | 183,412 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 7.9%
|
Money Market Funds - 7.9%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 7,960 | | | $7,960 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 7,960 | | | 7,960 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $15,920) | | | | | | 15,920 |
TOTAL INVESTMENTS - 99.1%
(Cost $200,121) | | | | | | $199,332 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,834 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,166 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1949F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 90.7%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $1,000 | | | $979 |
4.88%, 04/30/2026 | | | 8,000 | | | 8,013 |
4.13%, 02/15/2027 | | | 9,000 | | | 8,898 |
1.13%, 02/29/2028 | | | 8,000 | | | 7,108 |
4.25%, 02/28/2029 | | | 8,000 | | | 7,966 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 10,000 | | | 9,630 |
4.13%, 03/31/2031 | | | 11,000 | | | 10,857 |
4.63%, 04/30/2031 | | | 1,000 | | | 1,016 |
2.75%, 08/15/2032 | | | 15,000 | | | 13,351 |
4.50%, 11/15/2033 | | | 8,000 | | | 8,075 |
4.00%, 02/15/2034 | | | 7,000 | | | 6,797 |
4.38%, 05/15/2034 | | | 6,000 | | | 6,002 |
4.50%, 02/15/2036 | | | 1,000 | | | 1,019 |
4.75%, 02/15/2037 | | | 31,000 | | | 32,194 |
1.38%, 11/15/2040 | | | 49,000 | | | 30,935 |
4.50%, 02/15/2044 | | | 16,000 | | | 15,701 |
3.38%, 11/15/2048 | | | 13,000 | | | 10,564 |
2.38%, 11/15/2049 | | | 2,000 | | | 1,329 |
TOTAL U.S. TREASURY SECURITIES
(Cost $183,379) | | | | | | 182,457 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 8.4%
| | | | | | |
Money Market Funds - 8.4%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 8,420 | | | $8,420 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 8,420 | | | 8,420 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $16,840) | | | | | | 16,840 |
TOTAL INVESTMENTS - 99.1%
(Cost $200,219) | | | | | | $199,297 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,829 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,126 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1950F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 93.3%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 8,000 | | | 8,013 |
4.13%, 02/15/2027 | | | 8,000 | | | 7,909 |
1.13%, 02/29/2028 | | | 9,000 | | | 7,997 |
4.25%, 02/28/2029 | | | 7,000 | | | 6,970 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 10,000 | | | 9,630 |
4.13%, 03/31/2031 | | | 10,000 | | | 9,871 |
2.75%, 08/15/2032 | | | 13,000 | | | 11,571 |
4.50%, 11/15/2033 | | | 8,000 | | | 8,075 |
4.00%, 02/15/2034 | | | 7,000 | | | 6,797 |
4.38%, 05/15/2034 | | | 7,000 | | | 7,003 |
4.75%, 02/15/2037 | | | 33,000 | | | 34,271 |
1.38%, 11/15/2040 | | | 49,000 | | | 30,935 |
4.50%, 02/15/2044 | | | 19,000 | | | 18,645 |
3.38%, 11/15/2048 | | | 16,000 | | | 13,001 |
2.38%, 11/15/2049 | | | 3,000 | | | 1,993 |
4.25%, 02/15/2054 | | | 1,000 | | | 953 |
TOTAL U.S. TREASURY SECURITIES
(Cost $187,691) | | | | | | 187,615 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.8%
| | | | | | |
Money Market Funds - 5.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,816 | | | $5,816 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,816 | | | 5,816 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $11,632) | | | | | | 11,632 |
TOTAL INVESTMENTS - 99.1%
(Cost $199,323) | | | | | | $199,247 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,863 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,110 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1951F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 92.8%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 9,000 | | | 9,014 |
4.13%, 02/15/2027 | | | 7,000 | | | 6,921 |
1.13%, 02/29/2028 | | | 9,000 | | | 7,997 |
4.25%, 02/28/2029 | | | 7,000 | | | 6,970 |
3.63%, 03/31/2030 | | | 8,000 | | | 7,704 |
4.13%, 03/31/2031 | | | 10,000 | | | 9,870 |
2.75%, 08/15/2032 | | | 13,000 | | | 11,571 |
4.50%, 11/15/2033 | | | 8,000 | | | 8,075 |
4.00%, 02/15/2034 | | | 7,000 | | | 6,797 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 31,000 | | | 32,194 |
1.38%, 11/15/2040 | | | 50,000 | | | 31,566 |
4.50%, 02/15/2044 | | | 21,000 | | | 20,608 |
3.38%, 11/15/2048 | | | 19,000 | | | 15,439 |
2.38%, 11/15/2049 | | | 3,000 | | | 1,993 |
4.25%, 02/15/2054 | | | 2,000 | | | 1,905 |
4.63%, 05/15/2054 | | | 1,000 | | | 1,014 |
TOTAL U.S. TREASURY SECURITIES
(Cost $186,583) | | | | | | 186,598 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 6.3%
| | | | | | |
Money Market Funds - 6.3%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 6,318 | | | $6,318 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 6,318 | | | 6,318 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $12,636) | | | | | | 12,636 |
TOTAL INVESTMENTS - 99.1%
(Cost $199,219) | | | | | | $199,234 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,850 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,084 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1952F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 95.5%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $3,000 | | | $2,937 |
4.88%, 04/30/2026 | | | 9,000 | | | 9,014 |
4.13%, 02/15/2027 | | | 6,000 | | | 5,932 |
4.50%, 05/15/2027 | | | 2,000 | | | 1,998 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 6,000 | | | 5,974 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 8,000 | | | 7,704 |
4.13%, 03/31/2031 | | | 9,000 | | | 8,883 |
4.63%, 04/30/2031 | | | 1,000 | | | 1,016 |
2.75%, 08/15/2032 | | | 13,000 | | | 11,571 |
4.50%, 11/15/2033 | | | 7,000 | | | 7,066 |
4.00%, 02/15/2034 | | | 6,000 | | | 5,826 |
4.38%, 05/15/2034 | | | 7,000 | | | 7,003 |
4.75%, 02/15/2037 | | | 31,000 | | | 32,194 |
1.38%, 11/15/2040 | | | 48,000 | | | 30,304 |
4.50%, 02/15/2044 | | | 23,000 | | | 22,571 |
3.38%, 11/15/2048 | | | 21,000 | | | 17,064 |
2.38%, 11/15/2049 | | | 4,000 | | | 2,657 |
4.75%, 11/15/2053 | | | 3,000 | | | 3,103 |
4.25%, 02/15/2054 | | | 2,000 | | | 1,905 |
4.63%, 05/15/2054 | | | 1,000 | | | 1,014 |
TOTAL U.S. TREASURY SECURITIES
(Cost $191,189) | | | | | | 192,079 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 3.6%
| | | | | | |
Money Market Funds - 3.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 3,573 | | | $3,573 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 3,573 | | | 3,573 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $7,146) | | | | | | 7,146 |
TOTAL INVESTMENTS - 99.1%
(Cost $198,335) | | | | | | $199,225 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,866 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,091 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1953F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 93.4%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 3,000 | | | 3,005 |
4.13%, 02/15/2027 | | | 6,000 | | | 5,932 |
4.50%, 05/15/2027 | | | 2,000 | | | 1,998 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 6,000 | | | 5,974 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 8,000 | | | 7,704 |
4.13%, 03/31/2031 | | | 9,000 | | | 8,883 |
2.75%, 08/15/2032 | | | 11,000 | | | 9,791 |
4.50%, 11/15/2033 | | | 7,000 | | | 7,066 |
4.00%, 02/15/2034 | | | 6,000 | | | 5,826 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 30,000 | | | 31,155 |
1.38%, 11/15/2040 | | | 48,000 | | | 30,304 |
4.50%, 02/15/2044 | | | 25,000 | | | 24,533 |
3.38%, 11/15/2048 | | | 23,000 | | | 18,689 |
2.38%, 11/15/2049 | | | 5,000 | | | 3,321 |
4.75%, 11/15/2053 | | | 7,000 | | | 7,240 |
4.25%, 02/15/2054 | | | 1,000 | | | 953 |
4.63%, 05/15/2054 | | | 2,000 | | | 2,028 |
TOTAL U.S. TREASURY SECURITIES
(Cost $187,786) | | | | | | 187,705 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.7%
| | | | | | |
Money Market Funds - 5.7%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,763 | | | $5,763 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,763 | | | 5,763 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $11,526) | | | | | | 11,526 |
TOTAL INVESTMENTS - 99.1%
(Cost $199,312) | | | | | | $199,231 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,824 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,055 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1954F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.2%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $1,000 | | | $979 |
4.88%, 04/30/2026 | | | 3,000 | | | 3,005 |
4.13%, 02/15/2027 | | | 6,000 | | | 5,932 |
4.50%, 05/15/2027 | | | 2,000 | | | 1,998 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 6,000 | | | 5,974 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 5,000 | | | 4,815 |
4.13%, 03/31/2031 | | | 9,000 | | | 8,883 |
2.75%, 08/15/2032 | | | 11,000 | | | 9,791 |
4.50%, 11/15/2033 | | | 7,000 | | | 7,066 |
4.00%, 02/15/2034 | | | 6,000 | | | 5,826 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.50%, 02/15/2036 | | | 3,000 | | | 3,057 |
4.75%, 02/15/2037 | | | 25,000 | | | 25,963 |
1.38%, 11/15/2040 | | | 53,000 | | | 33,460 |
4.50%, 02/15/2044 | | | 25,000 | | | 24,533 |
3.38%, 11/15/2048 | | | 28,000 | | | 22,752 |
2.38%, 11/15/2049 | | | 1,000 | | | 664 |
4.75%, 11/15/2053 | | | 12,000 | | | 12,411 |
4.25%, 02/15/2054 | | | 1,000 | | | 953 |
TOTAL U.S. TREASURY SECURITIES
(Cost $189,781) | | | | | | 189,407 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 4.9%
| | | | | | |
Money Market Funds - 4.9%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 4,875 | | | $4,875 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 4,875 | | | 4,875 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $9,750) | | | | | | 9,750 |
TOTAL INVESTMENTS - 99.1%
(Cost $199,531) | | | | | | $199,157 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,773 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,930 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1955F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.6%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 4,000 | | | 4,006 |
4.13%, 02/15/2027 | | | 5,000 | | | 4,943 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 5,000 | | | 4,979 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 6,000 | | | 5,778 |
4.13%, 03/31/2031 | | | 8,000 | | | 7,896 |
2.75%, 08/15/2032 | | | 10,000 | | | 8,901 |
4.50%, 11/15/2033 | | | 6,000 | | | 6,056 |
4.00%, 02/15/2034 | | | 5,000 | | | 4,855 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 28,000 | | | 29,078 |
1.38%, 11/15/2040 | | | 45,000 | | | 28,410 |
4.50%, 02/15/2044 | | | 28,000 | | | 27,477 |
3.38%, 11/15/2048 | | | 27,000 | | | 21,940 |
2.38%, 11/15/2049 | | | 5,000 | | | 3,322 |
4.75%, 11/15/2053 | | | 10,000 | | | 10,343 |
4.25%, 02/15/2054 | | | 5,000 | | | 4,763 |
4.63%, 05/15/2054 | | | 3,000 | | | 3,042 |
TOTAL U.S. TREASURY SECURITIES
(Cost $189,953) | | | | | | 190,103 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 4.5%
| | | | | | |
Money Market Funds - 4.5%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 4,542 | | | $4,542 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 4,542 | | | 4,542 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $9,084) | | | | | | 9,084 |
TOTAL INVESTMENTS - 99.1%
(Cost $199,037) | | | | | | $199,187 |
Other Assets in Excess of Liabilities - 0.9% | | | | | | 1,844 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,031 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1956F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.4%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 4,000 | | | 4,006 |
4.13%, 02/15/2027 | | | 4,000 | | | 3,954 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 5,000 | | | 4,979 |
3.63%, 03/31/2030 | | | 6,000 | | | 5,778 |
4.13%, 03/31/2031 | | | 8,000 | | | 7,896 |
2.75%, 08/15/2032 | | | 9,000 | | | 8,011 |
4.50%, 11/15/2033 | | | 6,000 | | | 6,056 |
4.00%, 02/15/2034 | | | 4,000 | | | 3,884 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 27,000 | | | 28,040 |
1.38%, 11/15/2040 | | | 43,000 | | | 27,147 |
4.50%, 02/15/2044 | | | 30,000 | | | 29,440 |
3.38%, 11/15/2048 | | | 20,000 | | | 16,252 |
2.38%, 11/15/2049 | | | 18,000 | | | 11,957 |
4.25%, 02/15/2054 | | | 19,000 | | | 18,100 |
4.63%, 05/15/2054 | | | 2,000 | | | 2,028 |
TOTAL U.S. TREASURY SECURITIES
(Cost $190,254) | | | | | | 189,819 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 4.6%
| | | | | | |
Money Market Funds - 4.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 4,611 | | | $4,611 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 4,611 | | | 4,611 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $9,222) | | | | | | 9,222 |
TOTAL INVESTMENTS - 99.0%
(Cost $199,476) | | | | | | $199,041 |
Other Assets in Excess of Liabilities - 1.0% | | | | | | 1,967 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,008 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1957F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 95.4%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $1,000 | | | $979 |
4.88%, 04/30/2026 | | | 4,000 | | | 4,006 |
4.13%, 02/15/2027 | | | 4,000 | | | 3,955 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 5,000 | | | 4,979 |
3.63%, 03/31/2030 | | | 5,000 | | | 4,815 |
4.13%, 03/31/2031 | | | 8,000 | | | 7,896 |
2.75%, 08/15/2032 | | | 8,000 | | | 7,121 |
4.50%, 11/15/2033 | | | 6,000 | | | 6,056 |
4.00%, 02/15/2034 | | | 4,000 | | | 3,884 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 25,000 | | | 25,963 |
1.38%, 11/15/2040 | | | 44,000 | | | 27,778 |
4.50%, 02/15/2044 | | | 29,000 | | | 28,459 |
3.38%, 11/15/2048 | | | 25,000 | | | 20,314 |
2.38%, 11/15/2049 | | | 14,000 | | | 9,300 |
4.25%, 02/15/2054 | | | 26,000 | | | 24,769 |
4.63%, 05/15/2054 | | | 1,000 | | | 1,014 |
TOTAL U.S. TREASURY SECURITIES
(Cost $192,057) | | | | | | 191,621 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 3.6%
| | | | | | |
Money Market Funds - 3.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 3,661 | | | $3,661 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 3,661 | | | 3,661 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $7,322) | | | | | | 7,322 |
TOTAL INVESTMENTS - 99.0%
(Cost $199,379) | | | | | | $198,943 |
Other Assets in Excess of Liabilities - 1.0% | | | | | | 1,990 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,933 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1958F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 96.1%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 4,000 | | | 4,006 |
4.13%, 02/15/2027 | | | 4,000 | | | 3,954 |
1.13%, 02/29/2028 | | | 6,000 | | | 5,331 |
4.25%, 02/28/2029 | | | 4,000 | | | 3,983 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 6,000 | | | 5,778 |
4.13%, 03/31/2031 | | | 7,000 | | | 6,909 |
2.75%, 08/15/2032 | | | 8,000 | | | 7,121 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 4,000 | | | 3,884 |
4.38%, 05/15/2034 | | | 4,000 | | | 4,002 |
4.75%, 02/15/2037 | | | 24,000 | | | 24,924 |
1.38%, 11/15/2040 | | | 39,000 | | | 24,622 |
4.50%, 02/15/2044 | | | 31,000 | | | 30,421 |
3.38%, 11/15/2048 | | | 8,000 | | | 6,501 |
2.38%, 11/15/2049 | | | 36,000 | | | 23,915 |
4.25%, 02/15/2054 | | | 28,000 | | | 26,674 |
4.63%, 05/15/2054 | | | 3,000 | | | 3,042 |
TOTAL U.S. TREASURY SECURITIES
(Cost $194,367) | | | | | | 193,084 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 2.9%
| | | | | | |
Money Market Funds - 2.9%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 2,940 | | | $2,940 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 2,940 | | | 2,940 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,880) | | | | | | 5,880 |
TOTAL INVESTMENTS - 99.0%
(Cost $200,247) | | | | | | $198,964 |
Other Assets in Excess of Liabilities - 1.0% | | | | | | 2,023 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,987 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1959F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 98.5%
|
United States Treasury Note/Bond
| | | | | | |
3.00%, 07/15/2025 | | | $2,000 | | | $1,958 |
4.88%, 04/30/2026 | | | 5,000 | | | 5,008 |
4.13%, 02/15/2027 | | | 3,000 | | | 2,966 |
4.50%, 05/15/2027 | | | 1,000 | | | 999 |
1.13%, 02/29/2028 | | | 3,000 | | | 2,666 |
4.25%, 02/28/2029 | | | 4,000 | | | 3,983 |
4.63%, 04/30/2029 | | | 1,000 | | | 1,012 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 7,000 | | | 6,909 |
2.75%, 08/15/2032 | | | 9,000 | | | 8,011 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 3,000 | | | 2,913 |
4.38%, 05/15/2034 | | | 5,000 | | | 5,002 |
4.75%, 02/15/2037 | | | 24,000 | | | 24,924 |
1.38%, 11/15/2040 | | | 36,000 | | | 22,728 |
4.50%, 02/15/2044 | | | 31,000 | | | 30,421 |
3.38%, 11/15/2048 | | | 12,000 | | | 9,751 |
2.38%, 11/15/2049 | | | 32,000 | | | 21,257 |
4.25%, 02/15/2054 | | | 34,000 | | | 32,390 |
4.63%, 05/15/2054 | | | 6,000 | | | 6,085 |
TOTAL U.S. TREASURY SECURITIES
(Cost $198,920) | | | | | | 197,882 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 0.5%
| | | | | | |
Money Market Funds - 0.5%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 523 | | | $523 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 523 | | | 523 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,046) | | | | | | 1,046 |
TOTAL INVESTMENTS - 99.0%
(Cost $199,966) | | | | | | $198,928 |
Other Assets in Excess of Liabilities - 1.0% | | | | | | 2,085 |
TOTAL NET ASSETS - 100.0% | | | | | | $201,013 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1960F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 96.3%
|
United States Treasury Note/Bond
| | | | | | |
4.63%, 02/28/2026 | | | $1,000 | | | $997 |
4.88%, 04/30/2026 | | | 4,000 | | | 4,006 |
4.13%, 02/15/2027 | | | 3,000 | | | 2,966 |
4.50%, 05/15/2027 | | | 1,000 | | | 999 |
1.13%, 02/29/2028 | | | 3,000 | | | 2,666 |
4.25%, 02/28/2029 | | | 3,000 | | | 2,987 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 6,000 | | | 5,922 |
2.75%, 08/15/2032 | | | 7,000 | | | 6,231 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 3,000 | | | 2,913 |
4.38%, 05/15/2034 | | | 3,000 | | | 3,001 |
4.75%, 02/15/2037 | | | 22,000 | | | 22,847 |
1.38%, 11/15/2040 | | | 33,000 | | | 20,834 |
4.50%, 02/15/2044 | | | 32,000 | | | 31,402 |
2.38%, 11/15/2049 | | | 46,000 | | | 30,558 |
4.25%, 02/15/2054 | | | 40,000 | | | 38,106 |
4.63%, 05/15/2054 | | | 6,000 | | | 6,085 |
TOTAL U.S. TREASURY SECURITIES
(Cost $195,302) | | | | | | 193,442 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 2.7%
| | | | | | |
Money Market Funds - 2.7%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 2,714 | | | $2,714 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 2,714 | | | 2,714 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,428) | | | | | | 5,428 |
TOTAL INVESTMENTS - 99.0%
(Cost $200,730) | | | | | | $198,870 |
Other Assets in Excess of Liabilities - 1.0% | | | | | | 2,098 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,968 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1961F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 97.7%
|
United States Treasury Note/Bond
| | | | | | |
4.63%, 02/28/2026 | | | $3,000 | | | $2,990 |
4.88%, 04/30/2026 | | | 2,000 | | | 2,003 |
4.13%, 02/15/2027 | | | 2,000 | | | 1,977 |
4.50%, 05/15/2027 | | | 2,000 | | | 1,998 |
1.13%, 02/29/2028 | | | 3,000 | | | 2,665 |
4.25%, 02/28/2029 | | | 3,000 | | | 2,987 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 6,000 | | | 5,922 |
2.75%, 08/15/2032 | | | 6,000 | | | 5,340 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 3,000 | | | 2,913 |
4.38%, 05/15/2034 | | | 3,000 | | | 3,001 |
4.75%, 02/15/2037 | | | 20,000 | | | 20,770 |
1.38%, 11/15/2040 | | | 32,000 | | | 20,203 |
4.50%, 02/15/2044 | | | 30,000 | | | 29,440 |
2.38%, 11/15/2049 | | | 46,000 | | | 30,558 |
4.25%, 02/15/2054 | | | 48,000 | | | 45,728 |
4.63%, 05/15/2054 | | | 7,000 | | | 7,099 |
TOTAL U.S. TREASURY SECURITIES
(Cost $198,454) | | | | | | 196,516 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 1.2%
| | | | | | |
Money Market Funds - 1.2%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 1,160 | | | $1,160 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 1,160 | | | 1,160 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,320) | | | | | | 2,320 |
TOTAL INVESTMENTS - 98.9%
(Cost $200,774) | | | | | | $198,836 |
Other Assets in Excess of Liabilities - 1.1% | | | | | | 2,141 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,977 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1962F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 97.2%
|
United States Treasury Note/Bond
| | | | | | |
4.63%, 02/28/2026 | | | $1,000 | | | $997 |
4.13%, 02/15/2027 | | | 2,000 | | | 1,977 |
1.13%, 02/29/2028 | | | 2,000 | | | 1,777 |
4.25%, 02/28/2029 | | | 3,000 | | | 2,987 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 6,000 | | | 5,922 |
2.75%, 08/15/2032 | | | 6,000 | | | 5,340 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 2,000 | | | 1,942 |
4.38%, 05/15/2034 | | | 4,000 | | | 4,002 |
4.75%, 02/15/2037 | | | 19,000 | | | 19,732 |
1.38%, 11/15/2040 | | | 29,000 | | | 18,307 |
4.50%, 02/15/2044 | | | 29,000 | | | 28,459 |
2.38%, 11/15/2049 | | | 46,000 | | | 30,558 |
4.25%, 02/15/2054 | | | 56,000 | | | 53,349 |
4.63%, 05/15/2054 | | | 9,000 | | | 9,127 |
TOTAL U.S. TREASURY SECURITIES
(Cost $197,365) | | | | | | 195,398 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 1.7%
| | | | | | |
Money Market Funds - 1.7%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 1,708 | | | $1,708 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 1,708 | | | 1,708 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,416) | | | | | | 3,416 |
TOTAL INVESTMENTS - 98.9%
(Cost $200,781) | | | | | | $198,814 |
Other Assets in Excess of Liabilities - 1.1% | | | | | | 2,174 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,988 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1963F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 97.1%
|
United States Treasury Note/Bond
| | | | | | |
4.88%, 04/30/2026 | | | $1,000 | | | $1,002 |
4.50%, 05/15/2027 | | | 2,000 | | | 1,998 |
1.13%, 02/29/2028 | | | 3,000 | | | 2,666 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 6,000 | | | 5,922 |
2.75%, 08/15/2032 | | | 7,000 | | | 6,231 |
4.50%, 11/15/2033 | | | 4,000 | | | 4,037 |
4.00%, 02/15/2034 | | | 2,000 | | | 1,942 |
4.38%, 05/15/2034 | | | 3,000 | | | 3,001 |
4.75%, 02/15/2037 | | | 17,000 | | | 17,655 |
1.38%, 11/15/2040 | | | 27,000 | | | 17,046 |
4.50%, 02/15/2044 | | | 28,000 | | | 27,477 |
2.38%, 11/15/2049 | | | 44,000 | | | 29,229 |
4.25%, 02/15/2054 | | | 65,000 | | | 61,923 |
4.63%, 05/15/2054 | | | 9,000 | | | 9,127 |
TOTAL U.S. TREASURY SECURITIES
(Cost $197,070) | | | | | | 195,131 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 1.8%
| | | | | | |
Money Market Funds - 1.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 1,831 | | | $1,831 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 1,831 | | | 1,831 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,662) | | | | | | 3,662 |
TOTAL INVESTMENTS - 98.9%
(Cost $200,732) | | | | | | $198,793 |
Other Assets in Excess of Liabilities - 1.1% | | | | | | 2,190 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,983 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Income Fund 1963M
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 96.9%
|
United States Treasury Note/Bond
| | | | | | |
4.63%, 02/28/2026 | | | $2,000 | | | $1,993 |
4.88%, 04/30/2026 | | | 1,000 | | | 1,002 |
4.13%, 02/15/2027 | | | 2,000 | | | 1,977 |
4.50%, 05/15/2027 | | | 1,000 | | | 999 |
1.13%, 02/29/2028 | | | 2,000 | | | 1,777 |
4.25%, 02/28/2029 | | | 3,000 | | | 2,987 |
4.63%, 04/30/2029 | | | 2,000 | | | 2,023 |
3.63%, 03/31/2030 | | | 4,000 | | | 3,852 |
4.13%, 03/31/2031 | | | 6,000 | | | 5,922 |
2.75%, 08/15/2032 | | | 6,000 | | | 5,340 |
4.50%, 11/15/2033 | | | 5,000 | | | 5,047 |
4.00%, 02/15/2034 | | | 2,000 | | | 1,942 |
4.38%, 05/15/2034 | | | 4,000 | | | 4,002 |
4.75%, 02/15/2037 | | | 20,000 | | | 20,770 |
1.38%, 11/15/2040 | | | 31,000 | | | 19,571 |
4.50%, 02/15/2044 | | | 30,000 | | | 29,440 |
2.38%, 11/15/2049 | | | 46,000 | | | 30,558 |
4.25%, 02/15/2054 | | | 51,000 | | | 48,585 |
4.63%, 05/15/2054 | | | 7,000 | | | 7,099 |
TOTAL U.S. TREASURY SECURITIES
(Cost $196,862) | | | | | | 194,886 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 2.0%
| | | | | | |
Money Market Funds - 2.0%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 1,966 | | | $1,966 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 1,966 | | | 1,966 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,932) | | | | | | 3,932 |
TOTAL INVESTMENTS - 98.9%
(Cost $200,794) | | | | | | $198,818 |
Other Assets in Excess of Liabilities - 1.1% | | | | | | 2,152 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,970 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1948F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 90.6%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $1,320 | | | $1,277 |
0.38%, 01/15/2027 | | | 10,384 | | | 9,875 |
0.50%, 01/15/2028 | | | 7,627 | | | 7,189 |
2.38%, 10/15/2028 | | | 7,166 | | | 7,263 |
0.25%, 07/15/2029 | | | 2,452 | | | 2,253 |
0.13%, 01/15/2030 | | | 12,187 | | | 10,976 |
0.13%, 01/15/2031 | | | 6,022 | | | 5,317 |
0.13%, 01/15/2032 | | | 16,967 | | | 14,692 |
1.38%, 07/15/2033 | | | 23,745 | | | 22,431 |
1.75%, 01/15/2034 | | | 44,881 | | | 43,572 |
2.13%, 02/15/2040 | | | 33,365 | | | 33,047 |
0.63%, 02/15/2043 | | | 19,093 | | | 14,349 |
0.88%, 02/15/2047 | | | 12,989 | | | 9,758 |
TOTAL U.S. TREASURY SECURITIES
(Cost $182,718) | | | | | | 181,999 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 9.0%
| | | | | | |
Money Market Funds - 9.0%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 9,049 | | | $9,049 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 9,049 | | | 9,049 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $18,098) | | | | | | 18,098 |
TOTAL INVESTMENTS - 99.6%
(Cost $200,816) | | | | | | $200,097 |
Other Assets in Excess of Liabilities - 0.4% | | | | | | 879 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,976 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1949F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 90.2%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $1,320 | | | $1,277 |
0.38%, 01/15/2027 | | | 9,086 | | | 8,641 |
0.50%, 01/15/2028 | | | 1,271 | | | 1,198 |
2.38%, 10/15/2028 | | | 10,237 | | | 10,376 |
0.25%, 07/15/2029 | | | 2,452 | | | 2,253 |
0.13%, 01/15/2030 | | | 10,968 | | | 9,878 |
0.13%, 01/15/2031 | | | 7,227 | | | 6,380 |
0.13%, 01/15/2032 | | | 14,704 | | | 12,733 |
1.38%, 07/15/2033 | | | 22,713 | | | 21,456 |
1.75%, 01/15/2034 | | | 44,881 | | | 43,572 |
2.13%, 02/15/2040 | | | 34,816 | | | 34,484 |
0.63%, 02/15/2043 | | | 19,093 | | | 14,349 |
0.88%, 02/15/2047 | | | 19,484 | | | 14,637 |
TOTAL U.S. TREASURY SECURITIES
(Cost $182,064) | | | | | | 181,234 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 9.3%
| | | | | | |
Money Market Funds - 9.3%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 9,370 | | | $9,370 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 9,370 | | | 9,370 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $18,740) | | | | | | 18,740 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,804) | | | | | | $199,974 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 906 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,880 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1950F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 89.9%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $2,639 | | | $2,553 |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 |
0.50%, 01/15/2028 | | | 3,813 | | | 3,594 |
2.38%, 10/15/2028 | | | 7,166 | | | 7,263 |
0.25%, 07/15/2029 | | | 1,226 | | | 1,126 |
0.13%, 01/15/2030 | | | 9,750 | | | 8,781 |
0.13%, 01/15/2031 | | | 4,818 | | | 4,254 |
0.13%, 01/15/2032 | | | 14,704 | | | 12,733 |
1.38%, 07/15/2033 | | | 22,713 | | | 21,456 |
1.75%, 01/15/2034 | | | 42,841 | | | 41,591 |
2.13%, 02/15/2040 | | | 36,267 | | | 35,921 |
0.63%, 02/15/2043 | | | 20,457 | | | 15,374 |
0.88%, 02/15/2047 | | | 23,380 | | | 17,564 |
1.50%, 02/15/2053 | | | 1,055 | | | 887 |
TOTAL U.S. TREASURY SECURITIES
(Cost $181,457) | | | | | | 180,504 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 9.6%
| | | | | | |
Money Market Funds - 9.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 9,677 | | | $9,677 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 9,677 | | | 9,677 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $19,354) | | | | | | 19,354 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,811) | | | | | | $199,858 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 914 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,772 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1951F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 92.7%
|
United States Treasury Inflation Indexed Bonds
| |
0.63%, 01/15/2026 | | | $2,639 | | | $2,554 |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 |
0.50%, 01/15/2028 | | | 3,813 | | | 3,594 |
2.38%, 10/15/2028 | | | 7,166 | | | 7,263 |
0.25%, 07/15/2029 | | | 1,226 | | | 1,126 |
0.13%, 01/15/2030 | | | 9,750 | | | 8,781 |
0.13%, 01/15/2031 | | | 4,818 | | | 4,254 |
0.13%, 01/15/2032 | | | 14,704 | | | 12,733 |
1.38%, 07/15/2033 | | | 21,680 | | | 20,480 |
1.75%, 01/15/2034 | | | 43,861 | | | 42,581 |
2.13%, 02/15/2040 | | | 36,267 | | | 35,921 |
0.63%, 02/15/2043 | | | 20,457 | | | 15,374 |
0.88%, 02/15/2047 | | | 28,576 | | | 21,468 |
1.50%, 02/15/2053 | | | 3,164 | | | 2,660 |
TOTAL U.S. TREASURY SECURITIES
(Cost $187,425) | | | | | | 186,196 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 6.8%
| | | | | | |
Money Market Funds - 6.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 6,810 | | | $6,810 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 6,810 | | | 6,810 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $13,620) | | | | | | 13,620 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,045) | | | | | | $199,816 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 920 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,736 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1952F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.2%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $2,639 | | | $2,553 |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 |
0.50%, 01/15/2028 | | | 2,542 | | | 2,396 |
2.38%, 10/15/2028 | | | 8,189 | | | 8,301 |
0.25%, 07/15/2029 | | | 1,226 | | | 1,126 |
0.13%, 01/15/2030 | | | 9,750 | | | 8,781 |
0.13%, 01/15/2031 | | | 4,818 | | | 4,254 |
0.13%, 01/15/2032 | | | 14,704 | | | 12,733 |
1.38%, 07/15/2033 | | | 22,713 | | | 21,456 |
1.75%, 01/15/2034 | | | 39,781 | | | 38,620 |
2.13%, 02/15/2040 | | | 37,717 | | | 37,358 |
0.63%, 02/15/2043 | | | 20,457 | | | 15,374 |
0.88%, 02/15/2047 | | | 32,473 | | | 24,395 |
1.50%, 02/15/2053 | | | 5,274 | | | 4,434 |
TOTAL U.S. TREASURY SECURITIES
(Cost $190,432) | | | | | | 189,188 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.3%
| | | | | | |
Money Market Funds - 5.3%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,292 | | | $5,292 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,292 | | | 5,292 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,584) | | | | | | 10,584 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,016) | | | | | | $199,772 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 919 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,691 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1953F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 93.2%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $1,320 | | | $1,277 |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 |
0.50%, 01/15/2028 | | | 2,542 | | | 2,396 |
2.38%, 10/15/2028 | | | 8,189 | | | 8,301 |
0.13%, 01/15/2030 | | | 10,968 | | | 9,878 |
0.13%, 01/15/2031 | | | 3,613 | | | 3,190 |
0.13%, 01/15/2032 | | | 11,311 | | | 9,795 |
1.38%, 07/15/2033 | | | 25,810 | | | 24,381 |
1.75%, 01/15/2034 | | | 35,701 | | | 34,659 |
2.13%, 02/15/2040 | | | 36,267 | | | 35,921 |
0.63%, 02/15/2043 | | | 20,457 | | | 15,374 |
0.88%, 02/15/2047 | | | 36,369 | | | 27,322 |
1.50%, 02/15/2053 | | | 8,439 | | | 7,094 |
TOTAL U.S. TREASURY SECURITIES
(Cost $188,294) | | | | | | 186,995 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 6.3%
| | | | | | |
Money Market Funds - 6.3%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 6,343 | | | $6,343 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 6,343 | | | 6,343 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $12,686) | | | | | | 12,686 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,980) | | | | | | $199,681 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 927 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,608 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1954F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.0%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $2,639 | | | $2,553 |
0.38%, 01/15/2027 | | | 6,490 | | | 6,172 |
0.50%, 01/15/2028 | | | 5,085 | | | 4,793 |
2.38%, 10/15/2028 | | | 6,142 | | | 6,226 |
0.13%, 01/15/2030 | | | 7,312 | | | 6,585 |
0.13%, 01/15/2031 | | | 3,613 | | | 3,190 |
0.13%, 01/15/2032 | | | 11,311 | | | 9,795 |
1.38%, 07/15/2033 | | | 24,778 | | | 23,406 |
1.75%, 01/15/2034 | | | 34,681 | | | 33,669 |
2.13%, 02/15/2040 | | | 36,267 | | | 35,921 |
0.63%, 02/15/2043 | | | 21,820 | | | 16,399 |
0.88%, 02/15/2047 | | | 37,668 | | | 28,298 |
1.50%, 02/15/2053 | | | 13,713 | | | 11,528 |
TOTAL U.S. TREASURY SECURITIES
(Cost $189,914) | | | | | | 188,535 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.5%
| | | | | | |
Money Market Funds - 5.5%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,534 | | | $5,534 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,534 | | | 5,534 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $11,068) | | | | | | 11,068 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,982) | | | | | | $199,603 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 937 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,540 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1955F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | | |
U.S. TREASURY SECURITIES - 94.4%
| |
United States Treasury Inflation Indexed Bonds
| | | |
0.63%, 01/15/2026 | | | $2,639 | | | $2,553 | |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 | |
0.50%, 01/15/2028 | | | 2,542 | | | 2,396 | |
2.38%, 10/15/2028 | | | 4,095 | | | 4,151 | |
0.25%, 07/15/2029 | | | 1,226 | | | 1,126 | |
0.13%, 01/15/2030 | | | 7,312 | | | 6,586 | |
0.13%, 01/15/2031 | | | 3,613 | | | 3,190 | |
0.13%, 01/15/2032 | | | 11,311 | | | 9,795 | |
1.38%, 07/15/2033 | | | 23,745 | | | 22,431 | |
1.75%, 01/15/2034 | | | 32,641 | | | 31,689 | |
2.13%, 02/15/2040 | | | 34,816 | | | 34,484 | |
0.63%, 02/15/2043 | | | 24,548 | | | 18,448 | |
0.88%, 02/15/2047 | | | 37,668 | | | 28,298 | |
1.50%, 02/15/2053 | | | 20,042 | | | 16,848 | |
TOTAL U.S. TREASURY SECURITIES
(Cost $190,588) | | | | | | 189,402 | |
| | | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.1%
| | | | | | |
Money Market Funds - 5.1%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,083 | | | $5,083 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,083 | | | 5,083 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,166) | | | | | | 10,166 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,754) | | | | | | $199,568 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 928 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,496 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1956F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 95.7%
|
United States Treasury Inflation Indexed Bonds
|
0.25%, 01/15/2025 | | | $1,324 | | | $1,297 |
0.63%, 01/15/2026 | | | 2,639 | | | 2,553 |
0.38%, 01/15/2027 | | | 7,788 | | | 7,407 |
0.50%, 01/15/2028 | | | 3,813 | | | 3,594 |
2.38%, 10/15/2028 | | | 3,071 | | | 3,113 |
0.25%, 07/15/2029 | | | 2,452 | | | 2,253 |
0.13%, 01/15/2030 | | | 6,093 | | | 5,488 |
0.13%, 01/15/2031 | | | 4,818 | | | 4,254 |
0.13%, 01/15/2032 | | | 9,049 | | | 7,836 |
1.38%, 07/15/2033 | | | 22,713 | | | 21,456 |
1.75%, 01/15/2034 | | | 31,621 | | | 30,698 |
2.13%, 02/15/2040 | | | 33,365 | | | 33,047 |
0.63%, 02/15/2043 | | | 25,912 | | | 19,473 |
0.88%, 02/15/2047 | | | 35,071 | | | 26,347 |
1.50%, 02/15/2053 | | | 27,425 | | | 23,055 |
TOTAL U.S. TREASURY SECURITIES
(Cost $192,951) | | | | | | 191,871 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 3.8%
| | | | | | |
Money Market Funds - 3.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 3,837 | | | $3,837 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 3,837 | | | 3,837 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $7,674) | | | | | | 7,674 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,625) | | | | | | $199,545 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 927 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,472 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1957F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 93.9%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $5,278 | | | $5,107 |
0.38%, 01/15/2027 | | | 3,894 | | | 3,703 |
0.50%, 01/15/2028 | | | 1,271 | | | 1,198 |
2.38%, 10/15/2028 | | | 5,118 | | | 5,188 |
0.13%, 01/15/2030 | | | 8,531 | | | 7,683 |
0.13%, 01/15/2031 | | | 2,409 | | | 2,127 |
0.13%, 01/15/2032 | | | 9,049 | | | 7,836 |
1.38%, 07/15/2033 | | | 22,713 | | | 21,456 |
1.75%, 01/15/2034 | | | 28,561 | | | 27,727 |
2.13%, 02/15/2040 | | | 30,464 | | | 30,174 |
0.63%, 02/15/2043 | | | 30,003 | | | 22,548 |
0.88%, 02/15/2047 | | | 29,875 | | | 22,444 |
1.50%, 02/15/2053 | | | 36,919 | | | 31,036 |
TOTAL U.S. TREASURY SECURITIES
(Cost $189,711) | | | | | | 188,227 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 5.6%
| | | | | | |
Money Market Funds - 5.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 5,632 | | | $5,632 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 5,632 | | | 5,632 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $11,264) | | | | | | 11,264 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,975) | | | | | | $199,491 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 942 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,433 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1958F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 94.9%
|
United States Treasury Inflation Indexed Bonds
|
0.63%, 01/15/2026 | | | $5,278 | | | $5,107 |
0.38%, 01/15/2027 | | | 3,894 | | | 3,703 |
0.50%, 01/15/2028 | | | 1,271 | | | 1,198 |
2.38%, 10/15/2028 | | | 5,118 | | | 5,188 |
0.13%, 01/15/2030 | | | 8,531 | | | 7,683 |
0.13%, 01/15/2031 | | | 2,409 | | | 2,127 |
0.13%, 01/15/2032 | | | 9,049 | | | 7,836 |
1.38%, 07/15/2033 | | | 21,680 | | | 20,480 |
1.75%, 01/15/2034 | | | 28,561 | | | 27,727 |
2.13%, 02/15/2040 | | | 27,563 | | | 27,300 |
0.63%, 02/15/2043 | | | 34,095 | | | 25,623 |
0.88%, 02/15/2047 | | | 20,783 | | | 15,613 |
1.50%, 02/15/2053 | | | 48,522 | | | 40,791 |
TOTAL U.S. TREASURY SECURITIES
(Cost $191,842) | | | | | | 190,376 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 4.6%
| | | | | | |
Money Market Funds - 4.6%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 4,568 | | | $4,568 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 4,568 | | | 4,568 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $9,136) | | | | | | 9,136 |
TOTAL INVESTMENTS - 99.5%
(Cost $200,978) | | | | | | $199,512 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 948 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,460 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1959F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 95.3%
|
United States Treasury Inflation Indexed Bonds |
0.63%, 01/15/2026 | | | $5,278 | | | $5,107 |
0.38%, 01/15/2027 | | | 3,894 | | | 3,703 |
0.50%, 01/15/2028 | | | 1,271 | | | 1,198 |
2.38%, 10/15/2028 | | | 5,118 | | | 5,188 |
0.25%, 07/15/2029 | | | 1,226 | | | 1,126 |
0.13%, 01/15/2030 | | | 4,875 | | | 4,390 |
0.13%, 01/15/2031 | | | 2,409 | | | 2,127 |
0.13%, 01/15/2032 | | | 9,049 | | | 7,836 |
1.38%, 07/15/2033 | | | 20,648 | | | 19,505 |
1.75%, 01/15/2034 | | | 26,521 | | | 25,747 |
2.13%, 02/15/2040 | | | 24,661 | | | 24,427 |
0.63%, 02/15/2043 | | | 42,277 | | | 31,772 |
0.88%, 02/15/2047 | | | 7,793 | | | 5,855 |
1.50%, 02/15/2053 | | | 63,289 | | | 53,205 |
TOTAL U.S. TREASURY SECURITIES
(Cost $192,701) | | | | | | 191,186 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 4.2%
| | | | | | |
Money Market Funds - 4.2%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 4,183 | | | $4,183 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 4,183 | | | 4,183 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $8,366) | | | | | | 8,366 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,067) | | | | | | $199,552 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 958 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,510 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1960F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 91.7%
|
United States Treasury Inflation Indexed Bonds
|
0.50%, 01/15/2028 | | | $5,085 | | | $4,792 |
2.38%, 10/15/2028 | | | 1,024 | | | 1,037 |
0.25%, 07/15/2029 | | | 3,677 | | | 3,379 |
0.13%, 01/15/2030 | | | 3,656 | | | 3,293 |
0.13%, 01/15/2031 | | | 2,409 | | | 2,127 |
0.13%, 01/15/2032 | | | 9,049 | | | 7,836 |
1.38%, 07/15/2033 | | | 19,616 | | | 18,530 |
1.75%, 01/15/2034 | | | 23,461 | | | 22,776 |
2.13%, 02/15/2040 | | | 21,760 | | | 21,552 |
0.63%, 02/15/2043 | | | 45,005 | | | 33,822 |
1.50%, 02/15/2053 | | | 77,002 | | | 64,733 |
TOTAL U.S. TREASURY SECURITIES
(Cost $185,908) | | | | | | 183,877 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 7.8%
| | | | | | |
Money Market Funds - 7.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 7,829 | | | $7,829 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 7,829 | | | 7,829 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $15,658) | | | | | | 15,658 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,566) | | | | | | $199,535 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 961 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,496 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1961F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 86.5%
|
United States Treasury Inflation Indexed Bonds
|
2.38%, 10/15/2028 | | | $1,024 | | | $1,038 |
0.13%, 01/15/2030 | | | 1,219 | | | 1,097 |
0.13%, 01/15/2031 | | | 2,409 | | | 2,127 |
0.13%, 01/15/2032 | | | 4,524 | | | 3,918 |
1.38%, 07/15/2033 | | | 18,583 | | | 17,555 |
1.75%, 01/15/2034 | | | 21,421 | | | 20,796 |
2.13%, 02/15/2040 | | | 18,859 | | | 18,679 |
0.63%, 02/15/2043 | | | 42,277 | | | 31,772 |
1.50%, 02/15/2053 | | | 90,715 | | | 76,260 |
TOTAL U.S. TREASURY SECURITIES
(Cost $175,489) | | | | | | 173,242 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 13.0%
| | | | | | |
Money Market Funds - 13.0%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 13,050 | | | $13,050 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 13,050 | | | 13,050 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $26,100) | | | | | | 26,100 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,589) | | | | | | $199,342 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 1,010 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,352 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1962F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 83.7%
|
United States Treasury Inflation Indexed Bonds
|
0.13%, 01/15/2032 | | | $1,131 | | | $979 |
1.38%, 07/15/2033 | | | 17,551 | | | 16,579 |
1.75%, 01/15/2034 | | | 16,320 | | | 15,844 |
2.13%, 02/15/2040 | | | 15,957 | | | 15,805 |
0.63%, 02/15/2043 | | | 39,550 | | | 29,723 |
1.50%, 02/15/2053 | | | 105,482 | | | 88,675 |
TOTAL U.S. TREASURY SECURITIES
(Cost $169,956) | | | | | | 167,605 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 15.8%
| | | | | | |
Money Market Funds - 15.8%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 15,811 | | | $15,811 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 15,811 | | | 15,811 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $31,622) | | | | | | 31,622 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,578) | | | | | | $199,227 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 1,030 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,257 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1963F
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | |
U.S. TREASURY SECURITIES - 81.6%
|
United States Treasury Inflation Indexed Bonds
|
1.38%, 07/15/2033 | | | $14,454 | | | $13,654 |
1.75%, 01/15/2034 | | | 9,180 | | | 8,912 |
2.13%, 02/15/2040 | | | 13,056 | | | 12,932 |
0.63%, 02/15/2043 | | | 35,458 | | | 26,648 |
1.50%, 02/15/2053 | | | 120,249 | | | 101,089 |
TOTAL U.S. TREASURY SECURITIES
(Cost $165,659) | | | | | | 163,235 |
| | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 17.9%
| | | | | | |
Money Market Funds - 17.9%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 17,958 | | | $17,958 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 17,958 | | | 17,958 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $35,916) | | | | | | 35,916 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,575) | | | | | | $199,151 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 1,022 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,173 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
LifeX Inflation-Protected Income Fund 1963M
Schedule of Investments
as of June 30, 2024 (Unaudited)
| | | | | | | | |
U.S. TREASURY SECURITIES - 84.1%
| |
United States Treasury Inflation Indexed Bonds
| | | |
0.13%, 01/15/2031 | | | $1,204 | | | $1,063 | |
0.13%, 01/15/2032 | | | 2,262 | | | 1,959 | |
1.38%, 07/15/2033 | | | 18,583 | | | 17,555 | |
1.75%, 01/15/2034 | | | 17,341 | | | 16,834 | |
2.13%, 02/15/2040 | | | 18,859 | | | 18,679 | |
0.63%, 02/15/2043 | | | 40,913 | | | 30,747 | |
1.50%, 02/15/2053 | | | 97,043 | | | 81,581 | |
TOTAL U.S. TREASURY SECURITIES
(Cost $170,667) | | | | | | 168,418 | |
| | | | | | | | |
| | | | | | | |
SHORT-TERM INVESTMENTS - 15.4%
| | | | | | |
Money Market Funds - 15.4%
| | | | | | |
First American Government Obligations Fund - Class X, 5.23%(a) | | | 15,430 | | | $15,430 |
MSILF Government Portfolio - Class Institutional, 5.22%(a) | | | 15,430 | | | 15,430 |
TOTAL SHORT-TERM INVESTMENTS
(Cost $30,860) | | | | | | 30,860 |
TOTAL INVESTMENTS - 99.5%
(Cost $201,527) | | | | | | $199,278 |
Other Assets in Excess of Liabilities - 0.5% | | | | | | 1,023 |
TOTAL NET ASSETS - 100.0% | | | | | | $200,301 |
| | | | | | | |
Percentages are stated as a percent of net assets.
(a)
| The rate shown represents the 7-day effective yield as of June 30, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $199,332 | | | $199,297 | | | $199,247 | | | $199,234 | | | $199,225 |
Interest receivable | | | 2,000 | | | 1,995 | | | 2,029 | | | 2,016 | | | 2,032 |
Total assets | | | 201,332 | | | 201,292 | | | 201,276 | | | 201,250 | | | 201,257 |
LIABILITIES:
|
Payable to adviser | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
Total liabilities | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
NET ASSETS | | | $201,166 | | | $201,126 | | | $201,110 | | | $201,084 | | | $201,091 |
Net Assets Consists of:
|
Paid-in capital | | | $312,682 | | | $312,907 | | | $313,353 | | | $313,894 | | | $314,728 |
Total accumulated losses | | | (111,516) | | | (111,781) | | | (112,243) | | | (112,810) | | | (113,637) |
Total net assets | | | $201,166 | | | $201,126 | | | $201,110 | | | $201,084 | | | $201,091 |
LIFEX
|
Net Assets | | | $201,166 | | | $201,126 | | | $201,110 | | | $201,084 | | | $201,091 |
Shares issued and outstanding(a) | | | 15,796 | | | 15,115 | | | 14,511 | | | 13,972 | | | 13,488 |
Net asset value per share | | | $12.74 | | | $13.31 | | | $13.86 | | | $14.39 | | | $14.91 |
COST:
|
Investments, at cost | | | $200,121 | | | $200,219 | | | $199,323 | | | $199,219 | | | $198,335 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $199,231 | | | $199,157 | | | $199,187 | | | $199,041 | | | $198,943 |
Interest receivable | | | 1,990 | | | 1,939 | | | 2,010 | | | 2,133 | | | 2,156 |
Total assets | | | 201,221 | | | 201,096 | | | 201,197 | | | 201,174 | | | 201,099 |
LIABILITIES:
|
Payable to adviser | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
Total liabilities | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
NET ASSETS | | | $201,055 | | | $200,930 | | | $201,031 | | | $201,008 | | | $200,933 |
Net Assets Consists of:
|
Paid-in capital | | | $315,677 | | | $324,984 | | | $317,863 | | | $319,202 | | | $324,718 |
Total accumulated losses | | | (114,622) | | | (124,054) | | | (116,832) | | | (118,194) | | | (123,785) |
Total net assets | | | $201,055 | | | $200,930 | | | $201,031 | | | $201,008 | | | $200,933 |
LIFEX
|
Net Assets | | | $201,055 | | | $200,930 | | | $201,031 | | | $201,008 | | | $200,933 |
Shares issued and outstanding(a) | | | 13,052 | | | 12,656 | | | 12,299 | | | 11,968 | | | 11,658 |
Net asset value per share | | | $15.40 | | | $15.88 | | | $16.34 | | | $16.80 | | | $17.24 |
COST:
|
Investments, at cost | | | $199,312 | | | $199,531 | | | $199,037 | | | $199,476 | | | $199,379 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $198,964 | | | $198,928 | | | $198,870 | | | $198,836 | | | $198,814 |
Interest receivable | | | 2,189 | | | 2,251 | | | 2,264 | | | 2,307 | | | 2,340 |
Total assets | | | 201,153 | | | 201,179 | | | 201,134 | | | 201,143 | | | 201,154 |
LIABILITIES:
|
Payable to adviser | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
Total liabilities | | | 166 | | | 166 | | | 166 | | | 166 | | | 166 |
NET ASSETS | | | $200,987 | | | $201,013 | | | $200,968 | | | $200,977 | | | $200,988 |
Net Assets Consists of:
|
Paid-in capital | | | $322,478 | | | $324,092 | | | $326,186 | | | $327,978 | | | $330,065 |
Total accumulated losses | | | (121,491) | | | (123,079) | | | (125,218) | | | (127,001) | | | (129,077) |
Total net assets | | | $200,987 | | | $201,013 | | | $200,968 | | | $200,977 | | | $200,988 |
LIFEX
|
Net Assets | | | $200,987 | | | $201,013 | | | $200,968 | | | $200,977 | | | $200,988 |
Shares issued and outstanding(a) | | | 11,373 | | | 11,093 | | | 10,831 | | | 10,579 | | | 10,339 |
Net asset value per share | | | $17.67 | | | $18.12 | | | $18.56 | | | $19.00 | | | $19.44 |
COST:
| | | | | | | | | | | | | | | |
Investments, at cost | | | $200,247 | | | $199,966 | | | $200,730 | | | $200,774 | | | $200,781 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $198,793 | | | $198,818 | | | $200,097 | | | $199,974 | | | $199,858 |
Interest receivable | | | 2,356 | | | 2,318 | | | 1,044 | | | 1,071 | | | 1,079 |
Total assets | | | 201,149 | | | 201,136 | | | 201,141 | | | 201,045 | | | 200,937 |
LIABILITIES:
|
Payable to adviser | | | 166 | | | 166 | | | 165 | | | 165 | | | 165 |
Total liabilities | | | 166 | | | 166 | | | 165 | | | 165 | | | 165 |
NET ASSETS | | | $200,983 | | | $200,970 | | | $200,976 | | | $200,880 | | | $200,772 |
Net Assets Consists of:
|
Paid-in capital | | | $332,108 | | | $328,646 | | | $261,929 | | | $260,969 | | | $260,369 |
Total accumulated losses | | | (131,125) | | | (127,676) | | | (60,953) | | | (60,089) | | | (59,597) |
Total net assets | | | $200,983 | | | $200,970 | | | $200,976 | | | $200,880 | | | $200,772 |
LIFEX
| | | | | | | | | | | | | | | |
Net Assets | | | $200,983 | | | $200,970 | | | $200,976 | | | $200,880 | | | $200,772 |
Shares issued and outstanding(a) | | | 10,108 | | | 10,482 | | | 12,570 | | | 11,913 | | | 11,328 |
Net asset value per share | | | $19.88 | | | $19.17 | | | $15.99 | | | $16.86 | | | $17.72 |
COST:
|
Investments, at cost | | | $200,732 | | | $200,794 | | | $200,816 | | | $200,804 | | | $200,811 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $199,816 | | | $199,772 | | | $199,681 | | | $199,603 | | | $199,568 |
Interest receivable | | | 1,085 | | | 1,084 | | | 1,092 | | | 1,102 | | | 1,094 |
Total assets | | | 200,901 | | | 200,856 | | | 200,773 | | | 200,705 | | | 200,662 |
LIABILITIES:
|
Payable to adviser | | | 165 | | | 165 | | | 165 | | | 165 | | | 166 |
Total liabilities | | | 165 | | | 165 | | | 165 | | | 165 | | | 166 |
NET ASSETS | | | $200,736 | | | $200,691 | | | $200,608 | | | $200,540 | | | $200,496 |
Net Assets Consists of:
|
Paid-in capital | | | $259,842 | | | $259,606 | | | $259,631 | | | $259,655 | | | $259,809 |
Total accumulated losses | | | (59,106) | | | (58,915) | | | (59,023) | | | (59,115) | | | (59,313) |
Total net assets | | | $200,736 | | | $200,691 | | | $200,608 | | | $200,540 | | | $200,496 |
LIFEX
|
Net Assets | | | $200,736 | | | $200,691 | | | $200,608 | | | $200,540 | | | $200,496 |
Shares issued and outstanding(a) | | | 10,802 | | | 10,328 | | | 9,897 | | | 9,504 | | | 9,141 |
Net asset value per share | | | $18.58 | | | $19.43 | | | $20.27 | | | $21.10 | | | $21.93 |
COST:
|
Investments, at cost | | | $201,045 | | | $201,016 | | | $200,980 | | | $200,982 | | | $200,754 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $199,545 | | | $199,491 | | | $199,512 | | | $199,552 | | | $199,535 |
Interest receivable | | | 1,092 | | | 1,107 | | | 1,114 | | | 1,123 | | | 1,127 |
Total assets | | | 200,637 | | | 200,598 | | | 200,626 | | | 200,675 | | | 200,662 |
LIABILITIES:
|
Payable to adviser | | | 165 | | | 165 | | | 166 | | | 165 | | | 166 |
Total liabilities | | | 165 | | | 165 | | | 166 | | | 165 | | | 166 |
NET ASSETS | | | $200,472 | | | $200,433 | | | $200,460 | | | $200,510 | | | $200,496 |
Net Assets Consists of:
|
Paid-in capital | | | $260,178 | | | $260,907 | | | $261,580 | | | $262,501 | | | $263,461 |
Total accumulated losses | | | (59,706) | | | (60,474) | | | (61,120) | | | (61,991) | | | (62,965) |
Total net assets | | | $200,472 | | | $200,433 | | | $200,460 | | | $200,510 | | | $200,496 |
LIFEX
|
Net Assets | | | $200,472 | | | $200,433 | | | $200,460 | | | $200,510 | | | $200,496 |
Shares issued and outstanding(a) | | | 8,804 | | | 8,489 | | | 8,193 | | | 7,913 | | | 7,646 |
Net asset value per share | | | $22.77 | | | $23.61 | | | $24.47 | | | $25.34 | | | $26.22 |
COST:
|
Investments, at cost | | | $200,625 | | | $200,975 | | | $200,978 | | | $201,067 | | | $201,566 |
| | | | | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | |
ASSETS:
|
Investments, at value | | | $199,342 | | | $199,227 | | | $199,151 | | | $199,278 |
Interest receivable | | | 1,176 | | | 1,196 | | | 1,187 | | | 1,188 |
Total assets | | | 200,518 | | | 200,423 | | | 200,338 | | | 200,466 |
LIABILITIES:
|
Payable to adviser | | | 166 | | | 166 | | | 165 | | | 165 |
Total liabilities | | | 166 | | | 166 | | | 165 | | | 165 |
NET ASSETS | | | $200,352 | | | $200,257 | | | $200,173 | | | $200,301 |
Net Assets Consists of:
|
Paid-in capital | | | $264,103 | | | $264,395 | | | $264,350 | | | $264,250 |
Total accumulated losses | | | (63,751) | | | (64,138) | | | (64,177) | | | (63,949) |
Total net assets | | | $200,352 | | | $200,257 | | | $200,173 | | | $200,301 |
LIFEX
|
Net Assets | | | $200,352 | | | $200,257 | | | $200,173 | | | $200,301 |
Shares issued and outstanding(a) | | | 7,390 | | | 7,143 | | | 6,905 | | | 7,299 |
Net asset value per share | | | $27.11 | | | $28.03 | | | $28.99 | | | $27.44 |
COST:
|
Investments, at cost | | | $201,589 | | | $201,578 | | | $201,575 | | | $201,527 |
| | | | | | | | | | | | | |
(a)
| Unlimited shares authorized without par value. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $ 36,348 | | | $ 36,368 | | | $ 36,415 | | | $ 36,458 | | | $ 36,483 |
Total investment income | | | 36,348 | | | 36,368 | | | 36,415 | | | 36,458 | | | 36,483 |
EXPENSES:
|
Investment advisory fee | | | 8,334 | | | 8,333 | | | 8,332 | | | 8,330 | | | 8,328 |
Total expenses | | | 8,334 | | | 8,333 | | | 8,332 | | | 8,330 | | | 8,328 |
Net investment income | | | 28,014 | | | 28,035 | | | 28,083 | | | 28,128 | | | 28,155 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
|
Investments | | | (82,096) | | | (84,661) | | | (88,160) | | | (90,779) | | | (94,231) |
Net realized loss | | | (82,096) | | | (84,661) | | | (88,160) | | | (90,779) | | | (94,231) |
Net change in unrealized appreciation/(depreciation) on:
| | | | | | | | | | | | | | | |
Investments | | | (789) | | | (922) | | | (76) | | | 15 | | | 890 |
Net change in unrealized appreciation/(depreciation) | | | (789) | | | (922) | | | (76) | | | 15 | | | 890 |
Net realized and unrealized loss | | | (82,885) | | | (85,583) | | | (88,236) | | | (90,764) | | | (93,341) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(54,871) | | | $(57,548) | | | $(60,153) | | | $(62,636) | | | $(65,186) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $ 36,474 | | | $ 40,108 | | | $ 36,495 | | | $ 36,499 | | | $ 38,312 |
Total investment income | | | 36,474 | | | 40,108 | | | 36,495 | | | 36,499 | | | 38,312 |
EXPENSES:
|
Investment advisory fee | | | 8,326 | | | 9,132 | | | 8,321 | | | 8,319 | | | 8,720 |
Total expenses | | | 8,326 | | | 9,132 | | | 8,321 | | | 8,319 | | | 8,720 |
Net investment income | | | 28,148 | | | 30,976 | | | 28,174 | | | 28,180 | | | 29,592 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | | | | |
Investments | | | (95,797) | | | (104,112) | | | (100,962) | | | (102,940) | | | (108,723) |
Net realized loss | | | (95,797) | | | (104,112) | | | (100,962) | | | (102,940) | | | (108,723) |
Net change in unrealized appreciation/(depreciation) on:
| | | | | | | | | | | | | | | |
Investments | | | (81) | | | (374) | | | 150 | | | (435) | | | (436) |
Net change in unrealized appreciation/(depreciation) | | | (81) | | | (374) | | | 150 | | | (435) | | | (436) |
Net realized and unrealized loss | | | (95,878) | | | (104,486) | | | (100,812) | | | (103,375) | | | (109,159) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(67,730) | | | $(73,510) | | | $(72,638) | | | $(75,195) | | | $(79,567) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $ 36,483 | | | $ 36,473 | | | $ 36,439 | | | $ 36,406 | | | $ 36,384 |
Total investment income | | | 36,483 | | | 36,473 | | | 36,439 | | | 36,406 | | | 36,384 |
EXPENSES:
|
Investment advisory fee | | | 8,313 | | | 8,310 | | | 8,307 | | | 8,304 | | | 8,301 |
Total expenses | | | 8,313 | | | 8,310 | | | 8,307 | | | 8,304 | | | 8,301 |
Net investment income
| | | 28,170 | | | 28,163 | | | 28,132 | | | 28,102 | | | 28,083 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | | | | |
Investments | | | (107,532) | | | (110,368) | | | (112,612) | | | (115,200) | | | (118,103) |
Net realized loss | | | (107,532) | | | (110,368) | | | (112,612) | | | (115,200) | | | (118,103) |
Net change in unrealized
depreciation on:
| | | | | | | | | | | | | | | |
Investments | | | (1,283) | | | (1,038) | | | (1,860) | | | (1,938) | | | (1,967) |
Net change in unrealized depreciation | | | (1,283) | | | (1,038) | | | (1,860) | | | (1,938) | | | (1,967) |
Net realized and unrealized loss | | | (108,815) | | | (111,406) | | | (114,472) | | | (117,138) | | | (120,070) |
NET DECREASE IN NET ASSETS RESULTING FROM
OPERATIONS | | | $(80,645) | | | $(83,243) | | | $(86,340) | | | $(89,036) | | | $(91,987) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $ 36,370 | | | $ 36,710 | | | $ 48,644 | | | $ 48,881 | | | $ 49,129 |
Total investment income | | | 36,370 | | | 36,710 | | | 48,644 | | | 48,881 | | | 49,129 |
EXPENSES:
|
Investment advisory fee | | | 8,297 | | | 8,371 | | | 7,826 | | | 7,827 | | | 7,828 |
Total expenses | | | 8,297 | | | 8,371 | | | 7,826 | | | 7,827 | | | 7,828 |
Net investment income
| | | 28,073 | | | 28,339 | | | 40,818 | | | 41,054 | | | 41,301 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | | | | |
Investments | | | (121,010) | | | (116,076) | | | (55,100) | | | (56,719) | | | (58,456) |
Net realized loss | | | (121,010) | | | (116,076) | | | (55,100) | | | (56,719) | | | (58,456) |
Net change in unrealized
depreciation on:
| | | | | | | | | | | | | | | |
Investments | | | (1,939) | | | (1,976) | | | (719) | | | (830) | | | (953) |
Net change in unrealized depreciation | | | (1,939) | | | (1,976) | | | (719) | | | (830) | | | (953) |
Net realized and unrealized loss | | | (122,949) | | | (118,052) | | | (55,819) | | | (57,549) | | | (59,409) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(94,876) | | | $(89,713) | | | $(15,001) | | | $(16,495) | | | $(18,108) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $49,322 | | | $49,526 | | | $49,692 | | | $49,891 | | | $50,172 |
Total investment income | | | 49,322 | | | 49,526 | | | 49,692 | | | 49,891 | | | 50,172 |
EXPENSES:
|
Investment advisory fee | | | 7,828 | | | 7,829 | | | 7,829 | | | 7,829 | | | 7,829 |
Total expenses | | | 7,828 | | | 7,829 | | | 7,829 | | | 7,829 | | | 7,829 |
Net investment income | | | 41,494 | | | 41,697 | | | 41,863 | | | 42,062 | | | 42,343 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | | | | |
Investments | | | (59,773) | | | (61,483) | | | (63,261) | | | (64,898) | | | (66,888) |
Net realized loss | | | (59,773) | | | (61,483) | | | (63,261) | | | (64,898) | | | (66,888) |
Net change in unrealized
depreciation on:
| | | | | | | | | | | | | | | |
Investments | | | (1,229) | | | (1,244) | | | (1,299) | | | (1,379) | | | (1,186) |
Net change in unrealized depreciation | | | (1,229) | | | (1,244) | | | (1,299) | | | (1,379) | | | (1,186) |
Net realized and unrealized loss | | | (61,002) | | | (62,727) | | | (64,560) | | | (66,277) | | | (68,074) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(19,508) | | | $(21,030) | | | $(22,697) | | | $(24,215) | | | $(25,731) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $50,395 | | | $50,595 | | | $50,711 | | | $50,806 | | | $50,813 |
Total investment income | | | 50,395 | | | 50,595 | | | 50,711 | | | 50,806 | | | 50,813 |
EXPENSES:
|
Investment advisory fee | | | 7,828 | | | 7,827 | | | 7,826 | | | 7,825 | | | 7,824 |
Total expenses | | | 7,828 | | | 7,827 | | | 7,826 | | | 7,825 | | | 7,824 |
Net investment income | | | 42,567 | | | 42,768 | | | 42,885 | | | 42,981 | | | 42,989 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | | | | |
Investments | | | (68,837) | | | (70,547) | | | (72,408) | | | (74,356) | | | (75,799) |
Net realized loss | | | (68,837) | | | (70,547) | | | (72,408) | | | (74,356) | | | (75,799) |
Net change in unrealized
depreciation on:
| | | | | | | | | | | | | | | |
Investments | | | (1,080) | | | (1,484) | | | (1,466) | | | (1,515) | | | (2,031) |
Net change in unrealized depreciation | | | (1,080) | | | (1,484) | | | (1,466) | | | (1,515) | | | (2,031) |
Net realized and unrealized loss | | | (69,917) | | | (72,031) | | | (73,874) | | | (75,871) | | | (77,830) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(27,350) | | | $(29,263) | | | $(30,989) | | | $(32,890) | | | $(34,841) |
| | | | | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Operations
For the Period Ended June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | |
INVESTMENT INCOME:
|
Interest income | | | $50,448 | | | $50,613 | | | $51,050 | | | $50,422 |
Total investment income | | | 50,448 | | | 50,613 | | | 51,050 | | | 50,422 |
EXPENSES:
|
Investment advisory fee | | | 7,823 | | | 7,823 | | | 7,824 | | | 7,824 |
Total expenses | | | 7,823 | | | 7,823 | | | 7,824 | | | 7,824 |
Net investment income | | | 42,625 | | | 42,790 | | | 43,226 | | | 42,598 |
REALIZED AND UNREALIZED LOSS
|
Net realized loss from:
| | | | | | | | | | | | |
Investments | | | (76,938) | | | (78,282) | | | (79,548) | | | (77,437) |
Net realized loss | | | (76,938) | | | (78,282) | | | (79,548) | | | (77,437) |
Net change in unrealized
depreciation on:
| | | | | | | | | | | | |
Investments | | | (2,247) | | | (2,351) | | | (2,424) | | | (2,249) |
Net change in unrealized depreciation | | | (2,247) | | | (2,351) | | | (2,424) | | | (2,249) |
Net realized and unrealized loss | | | (79,185) | | | (80,633) | | | (81,972) | | | (79,686) |
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | | | $(36,560) | | | $(37,843) | | | $(38,746) | | | $(37,088) |
| | | | | | | | | | | | | |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $ 28,014 | | | $ 28,035 | | | $ 28,083 | | | $ 28,128 |
Net realized loss | | | (82,096) | | | (84,661) | | | (88,160) | | | (90,779) |
Net change in unrealized appreciation/(depreciation) | | | (789) | | | (922) | | | (76) | | | 15 |
Net decrease in net assets from operations | | | (54,871) | | | (57,548) | | | (60,153) | | | (62,636) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (56,646) | | | (54,233) | | | (52,090) | | | (50,174) |
Total distributions to shareholders | | | (56,646) | | | (54,233) | | | (52,090) | | | (50,174) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 1,308 | | | 1,252 | | | 1,202 | | | 1,158 |
Redemptions | | | (2,232,375) | | | (2,232,095) | | | (2,231,599) | | | (2,231,014) |
Net increase in net assets from capital transactions | | | 312,683 | | | 312,907 | | | 313,353 | | | 313,894 |
NET INCREASE IN NET ASSETS | | | 201,166 | | | 201,126 | | | 201,110 | | | 201,084 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $201,166 | | | $201,126 | | | $201,110 | | | $201,084 |
SHARES TRANSACTIONS
|
Subscriptions | | | 191,564 | | | 183,373 | | | 176,095 | | | 169,589 |
Reinvestments | | | 102 | | | 94 | | | 86 | | | 80 |
Redemptions | | | (175,870) | | | (168,352) | | | (161,671) | | | (155,698) |
Total increase in shares outstanding | | | 15,796 | | | 15,115 | | | 14,510 | | | 13,971 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $28,155 | | | $28,148 | | | $30,976 | | | $28,174 |
Net realized loss | | | (94,231) | | | (95,797) | | | (104,112) | | | (100,962) |
Net change in unrealized appreciation/(depreciation) | | | 890 | | | (81) | | | (374) | | | 150 |
Net decrease in net assets from operations | | | (65,186) | | | (67,730) | | | (73,510) | | | (72,638) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (48,451) | | | (46,891) | | | (50,544) | | | (44,194) |
Total distributions to shareholders | | | (48,451) | | | (46,891) | | | (50,544) | | | (44,194) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,793,750 | | | 2,543,750 |
Reinvestments | | | 1,118 | | | 1,082 | | | 1,049 | | | 1,020 |
Redemptions | | | (2,230,140) | | | (2,229,156) | | | (2,469,815) | | | (2,226,907) |
Net increase in net assets from capital transactions | | | 314,728 | | | 315,676 | | | 324,984 | | | 317,863 |
NET INCREASE IN NET ASSETS | | | 201,091 | | | 201,055 | | | 200,930 | | | 201,031 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $201,091 | | | $201,055 | | | $200,930 | | | $201,031 |
SHARES TRANSACTIONS
|
Subscriptions | | | 163,733 | | | 158,430 | | | 168,832 | | | 149,261 |
Reinvestments | | | 75 | | | 70 | | | 66 | | | 62 |
Redemptions | | | (150,319) | | | (145,448) | | | (156,242) | | | (137,024) |
Total increase in shares outstanding | | | 13,489 | | | 13,052 | | | 12,656 | | | 12,299 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $28,180 | | | $29,592 | | | $28,170 | | | $28,163 |
Net realized loss | | | (102,940) | | | (108,723) | | | (107,532) | | | (110,368) |
Net change in unrealized depreciation | | | (435) | | | (436) | | | (1,283) | | | (1,038) |
Net decrease in net assets from operations | | | (75,195) | | | (79,567) | | | (80,645) | | | (83,243) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (43,000) | | | (44,218) | | | (40,847) | | | (39,836) |
Total distributions to shareholders | | | (43,000) | | | (44,218) | | | (40,847) | | | (39,836) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,668,750 | | | 2,543,751 | | | 2,543,750 |
Reinvestments | | | 992 | | | 967 | | | 943 | | | 920 |
Redemptions | | | (2,225,539) | | | (2,344,999) | | | (2,222,215) | | | (2,220,578) |
Net increase in net assets from capital transactions | | | 319,203 | | | 324,718 | | | 322,479 | | | 324,092 |
NET INCREASE IN NET ASSETS | | | 201,008 | | | 200,933 | | | 200,987 | | | 201,013 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $201,008 | | | $200,933 | | | $200,987 | | | $201,013 |
SHARES TRANSACTIONS
|
Subscriptions | | | 145,200 | | | 148,411 | | | 137,873 | | | 134,432 |
Reinvestments | | | 59 | | | 56 | | | 53 | | | 51 |
Redemptions | | | (133,291) | | | (136,809) | | | (126,553) | | | (123,389) |
Total increase in shares outstanding | | | 11,968 | | | 11,658 | | | 11,373 | | | 11,094 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $28,132 | | | $28,102 | | | $28,083 | | | $28,073 |
Net realized loss | | | (112,612) | | | (115,200) | | | (118,103) | | | (121,010) |
Net change in unrealized depreciation | | | (1,860) | | | (1,938) | | | (1,967) | | | (1,939) |
Net decrease in net assets from operations | | | (86,340) | | | (89,036) | | | (91,987) | | | (94,876) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (38,879) | | | (37,965) | | | (37,091) | | | (36,249) |
Total distributions to shareholders | | | (38,879) | | | (37,965) | | | (37,091) | | | (36,249) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 899 | | | 878 | | | 858 | | | 839 |
Redemptions | | | (2,218,462) | | | (2,216,650) | | | (2,214,542) | | | (2,212,481) |
Net increase in net assets from capital transactions | | | 326,187 | | | 327,978 | | | 330,066 | | | 332,108 |
NET INCREASE IN NET ASSETS | | | 200,968 | | | 200,977 | | | 200,988 | | | 200,983 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $200,968 | | | $200,977 | | | $200,988 | | | $200,983 |
SHARES TRANSACTIONS
|
Subscriptions | | | 131,172 | | | 128,061 | | | 125,082 | | | 122,211 |
Reinvestments | | | 48 | | | 46 | | | 44 | | | 42 |
Redemptions | | | (120,389) | | | (117,528) | | | (114,787) | | | (112,145) |
Total increase in shares outstanding | | | 10,831 | | | 10,579 | | | 10,339 | | | 10,108 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $28,339 | | | $40,818 | | | $41,054 | | | $41,301 |
Net realized loss | | | (116,076) | | | (55,100) | | | (56,719) | | | (58,456) |
Net change in unrealized depreciation | | | (1,976) | | | (719) | | | (830) | | | (953) |
Net decrease in net assets from operations | | | (89,713) | | | (15,001) | | | (16,495) | | | (18,108) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (37,963) | | | (45,952) | | | (43,594) | | | (41,489) |
Total distributions to shareholders
| | | (37,963) | | | (45,952) | | | (43,594) | | | (41,489) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,563,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 1,208 | | | 1,042 | | | 988 | | | 940 |
Redemptions | | | (2,236,312) | | | (2,282,863) | | | (2,283,769) | | | (2,284,321) |
Net increase in net assets from capital transactions | | | 328,646 | | | 261,929 | | | 260,969 | | | 260,369 |
NET INCREASE IN NET ASSETS | | | 200,970 | | | 200,976 | | | 200,880 | | | 200,772 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $200,970 | | | $200,976 | | | $200,880 | | | $200,772 |
SHARES TRANSACTIONS
|
Subscriptions | | | 127,916 | | | 155,839 | | | 147,824 | | | 140,665 |
Reinvestments | | | 63 | | | 65 | | | 58 | | | 53 |
Redemptions | | | (117,496) | | | (143,334) | | | (135,970) | | | (129,390) |
Total increase in shares outstanding
| | | 10,483 | | | 12,570 | | | 11,912 | | | 11,328 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 8, 2024.
|
(b)
| Inception date of the Fund was January 17, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $41,494 | | | $41,697 | | | $41,863 | | | $42,062 |
Net realized loss | | | (59,773) | | | (61,483) | | | (63,261) | | | (64,898) |
Net change in unrealized depreciation | | | (1,229) | | | (1,244) | | | (1,299) | | | (1,379) |
Net decrease in net assets from
operations | | | (19,508) | | | (21,030) | | | (22,697) | | | (24,215) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (39,597) | | | (37,885) | | | (36,326) | | | (34,900) |
Total distributions to shareholders
| | | (39,597) | | | (37,885) | | | (36,326) | | | (34,900) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 896 | | | 857 | | | 821 | | | 789 |
Redemptions | | | (2,284,805) | | | (2,285,001) | | | (2,284,940) | | | (2,284,884) |
Net increase in net assets from capital transactions | | | 259,841 | | | 259,606 | | | 259,631 | | | 259,655 |
NET INCREASE IN NET ASSETS | | | 200,736 | | | 200,691 | | | 200,608 | | | 200,540 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $200,736 | | | $200,691 | | | $200,608 | | | $200,540 |
SHARES TRANSACTIONS
|
Subscriptions | | | 134,231 | | | 128,406 | | | 123,101 | | | 118,251 |
Reinvestments | | | 48 | | | 44 | | | 40 | | | 37 |
Redemptions | | | (123,477) | | | (118,122) | | | (113,244) | | | (108,784) |
Total increase in shares outstanding
| | | 10,802 | | | 10,328 | | | 9,897 | | | 9,504 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $42,343 | | | $42,567 | | | $42,768 | | | $42,885 |
Net realized loss | | | (66,888) | | | (68,837) | | | (70,547) | | | (72,408) |
Net change in unrealized depreciation | | | (1,186) | | | (1,080) | | | (1,484) | | | (1,466) |
Net decrease in net assets from
operations | | | (25,731) | | | (27,350) | | | (29,263) | | | (30,989) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (33,582) | | | (32,357) | | | (31,210) | | | (30,131) |
Total distributions to shareholders
| | | (33,582) | | | (32,357) | | | (31,210) | | | (30,131) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 759 | | | 731 | | | 705 | | | 680 |
Redemptions | | | (2,284,700) | | | (2,284,302) | | | (2,283,549) | | | (2,282,850) |
Net increase in net assets from capital transactions | | | 259,809 | | | 260,179 | | | 260,906 | | | 261,580 |
NET INCREASE IN NET ASSETS | | | 200,496 | | | 200,472 | | | 200,433 | | | 200,460 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $200,496 | | | $200,472 | | | $200,433 | | | $200,460 |
SHARES TRANSACTIONS
|
Subscriptions | | | 113,766 | | | 109,595 | | | 105,690 | | | 102,013 |
Reinvestments | | | 34 | | | 32 | | | 30 | | | 28 |
Redemptions | | | (104,660) | | | (100,823) | | | (97,230) | | | (93,847) |
Total increase in shares outstanding
| | | 9,140 | | | 8,804 | | | 8,490 | | | 8,194 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | | | | | | | |
OPERATIONS:
|
Net investment income | | | $42,981 | | | $42,989 | | | $42,625 | | | $42,790 |
Net realized loss | | | (74,356) | | | (75,799) | | | (76,938) | | | (78,282) |
Net change in unrealized depreciation | | | (1,515) | | | (2,031) | | | (2,247) | | | (2,351) |
Net decrease in net assets from
operations | | | (32,890) | | | (34,841) | | | (36,560) | | | (37,843) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (29,101) | | | (28,125) | | | (27,191) | | | (26,295) |
Total distributions to shareholders | | | (29,101) | | | (28,125) | | | (27,191) | | | (26,295) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 657 | | | 635 | | | 614 | | | 593 |
Redemptions | | | (2,281,906) | | | (2,280,923) | | | (2,280,261) | | | (2,279,948) |
Net increase in net assets from capital transactions | | | 262,501 | | | 263,462 | | | 264,103 | | | 264,395 |
NET INCREASE IN NET ASSETS | | | 200,510 | | | 200,496 | | | 200,352 | | | 200,257 |
NET ASSETS:
|
Beginning of the period | | | — | | | — | | | — | | | — |
End of the period | | | $200,510 | | | $200,496 | | | $200,352 | | | $200,257 |
SHARES TRANSACTIONS
|
Subscriptions | | | 98,511 | | | 95,182 | | | 92,003 | | | 88,953 |
Reinvestments | | | 26 | | | 24 | | | 22 | | | 21 |
Redemptions | | | (90,625) | | | (87,561) | | | (84,636) | | | (81,831) |
Total increase in shares outstanding | | | 7,912 | | | 7,645 | | | 7,389 | | | 7,143 |
| | | | | | | | | | | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Statements of Changes in Net Assets(Continued)
| | | | | | | |
OPERATIONS:
|
Net investment income | | | $ 43,226 | | | $ 42,598 |
Net realized loss | | | (79,548) | | | (77,437) |
Net change in unrealized depreciation | | | (2,424) | | | (2,249) |
Net decrease in net assets from operations | | | (38,746) | | | (37,088) |
DISTRIBUTIONS TO SHAREHOLDERS:
|
Distributions to shareholders | | | (25,432) | | | (26,861) |
Total distributions to shareholders | | | (25,432) | | | (26,861) |
CAPITAL TRANSACTIONS:
|
Subscriptions | | | 2,543,750 | | | 2,543,750 |
Reinvestments | | | 574 | | | 606 |
Redemptions | | | (2,279,973) | | | (2,280,106) |
Net increase in net assets from capital transactions | | | 264,351 | | | 264,250 |
NET INCREASE IN NET ASSETS | | | 200,173 | | | 200,301 |
NET ASSETS:
|
Beginning of the period | | | — | | | — |
End of the period | | | $200,173 | | | $200,301 |
SHARES TRANSACTIONS
|
Subscriptions | | | 86,018 | | | 90,877 |
Reinvestments | | | 20 | | | 22 |
Redemptions | | | (79,133) | | | (83,601) |
Total increase in shares outstanding
| | | 6,905 | | | 7,298 |
| | | | | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1948F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 13.33 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.21 |
Net realized and unrealized loss on investments | | | (0.38) |
Total from investment operations | | | (0.17) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $12.74 |
TOTAL RETURN(c) | | | (1.31)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.36% |
Portfolio turnover rate(c) | | | 505% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1949F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 13.92 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.22 |
Net realized and unrealized loss on investments | | | (0.41) |
Total from investment operations | | | (0.19) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $13.31 |
TOTAL RETURN(c) | | | (1.42)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.36% |
Portfolio turnover rate(c) | | | 504% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1950F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 14.50 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.23 |
Net realized and unrealized loss on investments | | | (0.45) |
Total from investment operations | | | (0.22) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $13.86 |
TOTAL RETURN(c) | | | (1.52)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.37% |
Portfolio turnover rate(c) | | | 511% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1951F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 15.05 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.24 |
Net realized and unrealized loss on investments | | | (0.48) |
Total from investment operations | | | (0.24) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $14.39 |
TOTAL RETURN(c) | | | (1.62)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.38% |
Portfolio turnover rate(c) | | | 519% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1952F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 15.59 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.25 |
Net realized and unrealized loss on investments | | | (0.51) |
Total from investment operations | | | (0.26) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $14.91 |
TOTAL RETURN(c) | | | (1.71)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.38% |
Portfolio turnover rate(c) | | | 519% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1953F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 16.11 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.25 |
Net realized and unrealized loss on investments | | | (0.54) |
Total from investment operations | | | (0.29) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $15.40 |
TOTAL RETURN(c) | | | (1.82)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.38% |
Portfolio turnover rate(c) | | | 509% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1954F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 16.62 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.26 |
Net realized and unrealized loss on investments | | | (0.58) |
Total from investment operations | | | (0.32) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $15.88 |
TOTAL RETURN(c) | | | (1.94)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 503% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1955F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 17.10 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.27 |
Net realized and unrealized loss on investments | | | (0.61) |
Total from investment operations | | | (0.34) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $16.34 |
TOTAL RETURN(c) | | | (2.01)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 499% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1956F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 17.58 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.28 |
Net realized and unrealized loss on investments | | | (0.64) |
Total from investment operations | | | (0.36) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $16.80 |
TOTAL RETURN(c) | | | (2.11)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 482% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1957F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 18.05 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.28 |
Net realized and unrealized loss on investments | | | (0.67) |
Total from investment operations | | | (0.39) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $17.24 |
TOTAL RETURN(c) | | | (2.23)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 476% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1958F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 18.52 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.29 |
Net realized and unrealized loss on investments | | | (0.72) |
Total from investment operations | | | (0.43) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $17.67 |
TOTAL RETURN(c) | | | (2.33)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 463% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1959F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 18.99 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.30 |
Net realized and unrealized loss on investments | | | (0.75) |
Total from investment operations | | | (0.45) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $18.12 |
TOTAL RETURN(c) | | | (2.41)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.41% |
Portfolio turnover rate(c) | | | 459% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1960F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 19.47 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.31 |
Net realized and unrealized loss on investments | | | (0.80) |
Total from investment operations | | | (0.49) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $18.56 |
TOTAL RETURN(c) | | | (2.55)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 446% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1961F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 19.94 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.31 |
Net realized and unrealized loss on investments | | | (0.83) |
Total from investment operations | | | (0.52) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $19.00 |
TOTAL RETURN(c) | | | (2.65)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.40% |
Portfolio turnover rate(c) | | | 441% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1962F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 20.42 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.32 |
Net realized and unrealized loss on investments | | | (0.88) |
Total from investment operations | | | (0.56) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $19.44 |
TOTAL RETURN(c) | | | (2.76)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.38% |
Portfolio turnover rate(c) | | | 439% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1963F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 20.90 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.33 |
Net realized and unrealized loss on investments | | | (0.93) |
Total from investment operations | | | (0.60) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $19.88 |
TOTAL RETURN(c) | | | (2.87)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.38% |
Portfolio turnover rate(c) | | | 447% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Income Fund 1963M
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 20.12 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.32 |
Net realized and unrealized loss on investments | | | (0.85) |
Total from investment operations | | | (0.53) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $19.17 |
TOTAL RETURN(c) | | | (2.66)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 3.39% |
Portfolio turnover rate(c) | | | 445% |
| | | | |
(a)
| Inception date of the Fund was January 8, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1948F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 16.35 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.38 |
Net realized and unrealized loss on investments | | | (0.32) |
Total from investment operations | | | 0.06 |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $15.99 |
TOTAL RETURN(c) | | | 0.34% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.22% |
Portfolio turnover rate(c) | | | 252% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1949F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 17.24 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.40 |
Net realized and unrealized loss on investments | | | (0.36) |
Total from investment operations | | | 0.04 |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $16.86 |
TOTAL RETURN(c) | | | 0.26% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.25% |
Portfolio turnover rate(c) | | | 247% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1950F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 18.11 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.43 |
Net realized and unrealized loss on investments | | | (0.40) |
Total from investment operations | | | 0.03 |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $17.72 |
TOTAL RETURN(c) | | | 0.16% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.28% |
Portfolio turnover rate(c) | | | 246% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1951F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 18.98 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.45 |
Net realized and unrealized loss on investments | | | (0.43) |
Total from investment operations | | | 0.02 |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $18.58 |
TOTAL RETURN(c) | | | 0.11% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.30% |
Portfolio turnover rate(c) | | | 241% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1952F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 19.84 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.47 |
Net realized and unrealized loss on investments | | | (0.46) |
Total from investment operations | | | 0.01 |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $19.43 |
TOTAL RETURN(c) | | | 0.04% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.33% |
Portfolio turnover rate(c) | | | 242% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1953F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 20.70 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.49 |
Net realized and unrealized loss on investments | | | (0.50) |
Total from investment operations | | | (0.01) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $20.27 |
TOTAL RETURN(c) | | | (0.04)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.35% |
Portfolio turnover rate(c) | | | 259% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1954F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 21.54 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.52 |
Net realized and unrealized loss on investments | | | (0.54) |
Total from investment operations | | | (0.02) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $21.10 |
TOTAL RETURN(c) | | | (0.12)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.37% |
Portfolio turnover rate(c) | | | 255% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1955F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 22.39 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.54 |
Net realized and unrealized loss on investments | | | (0.58) |
Total from investment operations | | | (0.04) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $21.93 |
TOTAL RETURN(c) | | | (0.18)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.41% |
Portfolio turnover rate(c) | | | 255% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024.
|
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1956F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 23.25 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.56 |
Net realized and unrealized loss on investments | | | (0.62) |
Total from investment operations | | | (0.06) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $22.77 |
TOTAL RETURN(c) | | | (0.24)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.44% |
Portfolio turnover rate(c) | | | 262% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year.
|
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1957F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 24.11 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.59 |
Net realized and unrealized loss on investments | | | (0.67) |
Total from investment operations | | | (0.08) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $23.61 |
TOTAL RETURN(c) | | | (0.32)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.47% |
Portfolio turnover rate(c) | | | 260% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1958F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 24.97 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.61 |
Net realized and unrealized loss on investments | | | (0.69) |
Total from investment operations | | | (0.08) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $24.47 |
TOTAL RETURN(c) | | | (0.36)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.48% |
Portfolio turnover rate(c) | | | 263% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1959F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 25.86 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.63 |
Net realized and unrealized loss on investments | | | (0.73) |
Total from investment operations | | | (0.10) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $25.34 |
TOTAL RETURN(c) | | | (0.40)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $201 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.49% |
Portfolio turnover rate(c) | | | 263% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1960F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 26.77 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.66 |
Net realized and unrealized loss on investments | | | (0.79) |
Total from investment operations | | | (0.13) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $26.22 |
TOTAL RETURN(c) | | | (0.47)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.50% |
Portfolio turnover rate(c) | | | 264% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1961F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 27.69 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.67 |
Net realized and unrealized loss on investments | | | (0.83) |
Total from investment operations | | | (0.16) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $27.11 |
TOTAL RETURN(c) | | | (0.58)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.45% |
Portfolio turnover rate(c) | | | 267% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1962F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 28.64 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.70 |
Net realized and unrealized loss on investments | | | (0.89) |
Total from investment operations | | | (0.19) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $28.03 |
TOTAL RETURN(c) | | | (0.66)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.47% |
Portfolio turnover rate(c) | | | 269% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1963F
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 29.62 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.73 |
Net realized and unrealized loss on investments | | | (0.94) |
Total from investment operations | | | (0.21) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $28.99 |
TOTAL RETURN(c) | | | (0.71)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.53% |
Portfolio turnover rate(c) | | | 278% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
Financial Highlights
LifeX Inflation-Protected Income Fund 1963M
| | | | |
LIFEX
| | | |
PER SHARE DATA:
| | | |
Net asset value, beginning of period | | | $ 28.04 |
INVESTMENTS OPERATIONS:
| | | |
Net investment income(b) | | | 0.68 |
Net realized and unrealized loss on investments | | | (0.86) |
Total from investment operations | | | (0.18) |
LESS DISTRIBUTIONS FROM:
| | | |
From net investment income | | | (0.42) |
Total distributions | | | (0.42) |
Net asset value, end of period | | | $27.44 |
TOTAL RETURN(c) | | | (0.62)% |
SUPPLEMENTAL DATA AND RATIOS:
| | | |
Net assets, end of period (in thousands) | | | $200 |
Ratio of expenses to average net assets(d) | | | 1.00% |
Ratio of net investment income to average net assets(d) | | | 5.45% |
Portfolio turnover rate(c) | | | 275% |
| | | | |
(a)
| Inception date of the Fund was January 17, 2024. |
(b)
| Net investment income per share has been calculated based on average shares outstanding during the period. |
(c)
| Not annualized for periods less than one year. |
(d)
| Annualized for periods less than one year. |
The accompanying notes are an integral part of these financial statements.
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)
1. Organization
Stone Ridge Trust (the “Trust”) was organized as a Delaware statutory trust on September 28, 2012 and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company issuing shares in multiple series, each series representing a distinct portfolio with its own investment objectives and policies. As of June 30, 2024, each of the LifeX Income Funds and each of the LifeX Inflation-Protected Income Funds (each a “Fund” as shown on Schedule A attached hereto) were a series of the Trust. The LifeX Income Funds commenced operations on January 8, 2024 and LifeX Inflation-Protected Income Funds on January 17, 2024. The Funds offer one class of shares to investors with no front-end or back-end sales. The Funds do not charge redemption fees. There are an unlimited number of authorized shares.
The LifeX Income Funds’ investment objective is to achieve income and a high level of reliable monthly distributions while maintaining the safety of the principal amount of the Funds’ investments. The LifeX Inflation-Protected Income Funds’ investment objective is to achieve income and a high level of reliable monthly distributions linked to inflation while maintaining the safety of the principal amount of the Funds’ investments.
2. Summary of Significant Accounting Policies
The following is a summary of significant accounting policies consistently followed by each of the Funds in the preparation of each of their financial statements. The financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Each 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.
(a)
| Investment Valuation and Fair Value Measurement. The Board of Trustees (the “Board”) has approved procedures pursuant to which each Fund values its investments (the “Valuation Procedures”). The Board has established a Valuation Committee (the “Board Valuation Committee”), which has designated Stone Ridge Asset Management LLC (the “Adviser”) to serve as “valuation designee” in accordance with Rule 2a-5 of the 1940 Act and, in that capacity, to bear responsibility for implementing the Valuation Procedures, including performing fair valuation determinations relating to all investments held by each Fund (as needed), and periodically assessing and managing any material valuation risks and establishing and applying fair values methodologies subject to the oversight of the Board Valuation Committee and certain reporting and other requirements as described in the Valuation Procedures. A committee consisting of personnel of the Adviser (the “Adviser Valuation Committee”) performs certain functions in implementing the Valuation Procedures, including with respect to the performance of fair valuation determinations. |
Listed below is a summary of certain of the methods generally used currently to value investments of each Fund under the Valuation Procedures:
Non-prime money market funds and cash sweep programs are generally valued at amortized cost, which approximates fair value.
Other debt securities, including U.S. government debt securities (which we refer to as “U.S. Government Securities”), are valued by an independent pricing service at an evaluated (or estimated) mean between the closing bid and asked prices.
The Funds generally expect that their investments in U.S. Government Securities will not require the use of fair valuation methodologies. In the event that market quotations are not readily available for a particular Fund asset or available market quotations, or other information are deemed to be unreliable by the Adviser Valuation Committee, then such instruments will be valued as determined in good faith by the Adviser Valuation Committee. In these circumstances, each Fund determines fair value in a manner that seeks to reflect the market value of the security on the valuation date based on consideration by the Adviser Valuation Committee of any information or factors it deems appropriate.
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
Fair value pricing may require subjective determinations about the value of a portfolio instrument. Fair values may differ from quoted or published prices, or from prices that are used by others, for the same investments. Also, the use of fair value pricing may not always result in adjustments to the prices of securities or other assets or liabilities held by each Fund. It is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of such security. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Fund.
Each 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 each 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.
LifeX Income Income Fund 1948F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $183,412 | | | $ — | | | $183,412 |
Money Market Funds | | | 15,920 | | | — | | | — | | | 15,920 |
Total Investments | | | $15,920 | | | $183,412 | | | $— | | | $199,332 |
| | | | | | | | | | | | | |
LifeX Income Fund 1949F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $182,457 | | | $— | | | $182,457 |
Money Market Funds | | | 16,840 | | | — | | | — | | | 16,840 |
Total Investments | | | $16,840 | | | $182,457 | | | $— | | | $199,297 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Income Fund 1950F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $187,615 | | | $ — | | | $187,615 |
Money Market Funds | | | 11,632 | | | — | | | — | | | 11,632 |
Total Investments | | | $11,632 | | | $187,615 | | | $— | | | $199,247 |
| | | | | | | | | | | | | |
LifeX Income Fund 1951F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $186,598 | | | $ — | | | $186,598 |
Money Market Funds | | | 12,636 | | | — | | | — | | | 12,636 |
Total Investments | | | $12,636 | | | $186,598 | | | $— | | | $199,234 |
| | | | | | | | | | | | | |
LifeX Income Fund 1952F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $192,079 | | | $ — | | | $192,079 |
Money Market Funds | | | 7,146 | | | — | | | — | | | 7,146 |
Total Investments | | | $7,146 | | | $192,079 | | | $— | | | $199,225 |
| | | | | | | | | | | | | |
LifeX Income Fund 1953F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $187,705 | | | $ — | | | $187,705 |
Money Market Funds | | | 11,526 | | | — | | | — | | | 11,526 |
Total Investments | | | $11,526 | | | $187,705 | | | $— | | | $199,231 |
| | | | | | | | | | | | | |
LifeX Income Fund 1954F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $189,407 | | | $ — | | | $189,407 |
Money Market Funds | | | 9,750 | | | — | | | — | | | 9,750 |
Total Investments | | | $9,750 | | | $189,407 | | | $— | | | $199,157 |
| | | | | | | | | | | | | |
LifeX Income Fund 1955F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $190,103 | | | $ — | | | $190,103 |
Money Market Funds | | | 9,084 | | | — | | | — | | | 9,084 |
Total Investments | | | $9,084 | | | $190,103 | | | $— | | | $199,187 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Income Fund 1956F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $189,819 | | | $ — | | | $189,819 |
Money Market Funds | | | 9,222 | | | — | | | — | | | 9,222 |
Total Investments | | | $9,222 | | | $189,819 | | | $— | | | $199,041 |
| | | | | | | | | | | | | |
LifeX Income Fund 1957F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $191,621 | | | $ — | | | $191,621 |
Money Market Funds | | | 7,322 | | | — | | | — | | | 7,322 |
Total Investments | | | $7,322 | | | $191,621 | | | $— | | | $198,943 |
| | | | | | | | | | | | | |
LifeX Income Fund 1958F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $193,084 | | | $ — | | | $193,084 |
Money Market Funds | | | 5,880 | | | — | | | — | | | 5,880 |
Total Investments | | | $5,880 | | | $193,084 | | | $— | | | $198,964 |
| | | | | | | | | | | | | |
LifeX Income Fund 1959F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $197,882 | | | $ — | | | $197,882 |
Money Market Funds | | | 1,046 | | | — | | | — | | | 1,046 |
Total Investments | | | $1,046 | | | $197,882 | | | $— | | | $198,928 |
| | | | | | | | | | | | | |
LifeX Income Fund 1960F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $193,442 | | | $ — | | | $193,442 |
Money Market Funds | | | 5,428 | | | — | | | — | | | 5,428 |
Total Investments | | | $5,428 | | | $193,442 | | | $— | | | $198,870 |
| | | | | | | | | | | | | |
LifeX Income Fund 1961F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $196,516 | | | $ — | | | $196,516 |
Money Market Funds | | | 2,320 | | | — | | | — | | | 2,320 |
Total Investments | | | $2,320 | | | $196,516 | | | $— | | | $198,836 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Income Fund 1962F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $195,398 | | | $ — | | | $195,398 |
Money Market Funds | | | 3,416 | | | — | | | — | | | 3,416 |
Total Investments | | | $3,416 | | | $195,398 | | | $— | | | $198,814 |
| | | | | | | | | | | | | |
LifeX Income Fund 1963F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $195,131 | | | $ — | | | $195,131 |
Money Market Funds | | | 3,662 | | | — | | | — | | | 3,662 |
Total Investments | | | $3,662 | | | $195,131 | | | $— | | | $198,793 |
| | | | | | | | | | | | | |
LifeX Income Fund 1963M
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $194,886 | | | $ — | | | $194,886 |
Money Market Funds | | | 3,932 | | | — | | | — | | | 3,932 |
Total Investments | | | $3,932 | | | $194,886 | | | $— | | | $198,818 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1948F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $181,999 | | | $ — | | | $181,999 |
Money Market Funds | | | 18,098 | | | — | | | — | | | 18,098 |
Total Investments | | | $18,098 | | | $181,999 | | | $— | | | $200,097 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1949F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $181,234 | | | $ — | | | $181,234 |
Money Market Funds | | | 18,740 | | | — | | | — | | | 18,740 |
Total Investments | | | $18,740 | | | $181,234 | | | $— | | | $199,974 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1950F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $180,504 | | | $ — | | | $180,504 |
Money Market Funds | | | 19,354 | | | — | | | — | | | 19,354 |
Total Investments | | | $19,354 | | | $180,504 | | | $— | | | $199,858 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Inflation-Protected Income Fund 1951F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $186,196 | | | $ — | | | $186,196 |
Money Market Funds | | | 13,620 | | | — | | | — | | | 13,620 |
Total Investments | | | $13,620 | | | $186,196 | | | $— | | | $199,816 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1952F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $189,188 | | | $ — | | | $189,188 |
Money Market Funds | | | 10,584 | | | — | | | — | | | 10,584 |
Total Investments | | | $10,584 | | | $189,188 | | | $— | | | $199,772 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1953F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $186,995 | | | $ — | | | $186,995 |
Money Market Funds | | | 12,686 | | | — | | | — | | | 12,686 |
Total Investments | | | $12,686 | | | $186,995 | | | $— | | | $199,681 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1954F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $188,535 | | | $ — | | | $188,535 |
Money Market Funds | | | 11,068 | | | — | | | — | | | 11,068 |
Total Investments | | | $11,068 | | | $188,535 | | | $— | | | $199,603 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1955F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $189,402 | | | $ — | | | $189,402 |
Money Market Funds | | | 10,166 | | | — | | | — | | | 10,166 |
Total Investments | | | $10,166 | | | $189,402 | | | $— | | | $199,568 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1956F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $191,871 | | | $ — | | | $191,871 |
Money Market Funds | | | 7,674 | | | — | | | — | | | 7,674 |
Total Investments | | | $7,674 | | | $191,871 | | | $— | | | $199,545 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Inflation-Protected Income Fund 1957F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $188,227 | | | $ — | | | $188,227 |
Money Market Funds | | | 11,264 | | | — | | | — | | | 11,264 |
Total Investments | | | $11,264 | | | $188,227 | | | $— | | | $199,491 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1958F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $190,376 | | | $ — | | | $190,376 |
Money Market Funds | | | 9,136 | | | — | | | — | | | 9,136 |
Total Investments | | | $9,136 | | | $190,376 | | | $— | | | $199,512 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1959F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $191,186 | | | $ — | | | $191,186 |
Money Market Funds | | | 8,366 | | | — | | | — | | | 8,366 |
Total Investments | | | $8,366 | | | $191,186 | | | $— | | | $199,552 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1960F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $183,877 | | | $ — | | | $183,877 |
Money Market Funds | | | 15,658 | | | — | | | — | | | 15,658 |
Total Investments | | | $15,658 | | | $183,877 | | | $— | | | $199,535 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1961F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $173,242 | | | $ — | | | $173,242 |
Money Market Funds | | | 26,100 | | | — | | | — | | | 26,100 |
Total Investments | | | $26,100 | | | $173,242 | | | $— | | | $199,342 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1962F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $167,605 | | | $ — | | | $167,605 |
Money Market Funds | | | 31,622 | | | — | | | — | | | 31,622 |
Total Investments | | | $31,622 | | | $167,605 | | | $— | | | $199,227 |
| | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
LifeX Inflation-Protected Income Fund 1963F
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $163,235 | | | $ — | | | $163,235 |
Money Market Funds | | | 35,916 | | | — | | | — | | | 35,916 |
Total Investments | | | $35,916 | | | $163,235 | | | $— | | | $199,151 |
| | | | | | | | | | | | | |
LifeX Inflation-Protected Income Fund 1963M
| | | | | | | | | | | | | |
Investments:
| | | | | | | | | | | | |
U.S. Treasury Securities | | | $— | | | $168,418 | | | $ — | | | $168,418 |
Money Market Funds | | | 30,860 | | | — | | | — | | | 30,860 |
Total Investments | | | $30,860 | | | $168,418 | | | $— | | | $199,278 |
| | | | | | | | | | | | | |
Refer to the Schedule of Investments for additional information.
(b)
| Use of Estimates. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. |
(c)
| Indemnifications. In the normal course of business, the Funds enter into contracts that contain a variety of representations which provide general indemnifications. The Funds’ maximum exposure under these arrangements cannot be known; however, the Funds expects any risk of loss to be remote. |
(d)
| Federal Income Taxes. The Funds intend to qualify as regulated investment companies (“RICs”) under Subchapter M of the Internal Revenue Code of 1986, as amended. As RICs, the Funds would not be subject to federal income tax to the extent they distribute substantially all of their net investment income and capital gains to shareholders. Therefore, no federal income tax provision is required. |
(e)
| Distributions to Shareholders. The Funds intend to make distributions monthly, for which a significant portion of each distribution is expected and intended to constitute a return of capital, which will reduce the amount of capital available for investment and reduce a shareholder’s tax basis in his or her shares. A return of capital is generally not taxable to the shareholder. However, following the point at which a shareholder’s tax basis in his or her shares has been reduced to zero, this portion of the Funds’ intended distributions are expected to constitute capital gains. |
(f)
| Foreign Securities and Currency Transactions. The Funds’ books and records are maintained in U.S. dollars. Foreign currency denominated transactions (i.e., market value of investment securities, assets and liabilities, purchases and sales of investment securities, and income and expenses) are translated into U.S. dollars at the current rate of exchange. The Funds do not isolate that portion of results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
(g)
| Market Volatility. The value of the securities in the Funds may go up or down in response to market and/or general economic conditions. Price changes may be short- or long-term. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and its investments, including hampering the ability of the Adviser to invest the Funds’ assets as intended. |
(h)
| Large Shareholder Risk. The risk that certain account holders, including an Adviser or funds or accounts over which an Adviser (or related parties of an Adviser) has investment discretion, may from time to time own or control a significant percentage of a Fund’s shares. The Funds are subject to the risk that a redemption by those shareholders of all or a portion of their Fund shares, including as a result of an asset allocation decision made by an Adviser (or related parties of an Adviser), will adversely affect a Fund’s performance if it is forced to sell portfolio securities or invest cash when the Adviser would not otherwise choose to do so. Redemptions of a large number of shares may affect the liquidity of a Fund’s portfolio, increase a Fund’s transaction costs, and accelerate the realization of taxable income and/or gains to shareholders. |
The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the 1940 Act. As of June 30, 2024, Stone Ridge Ventures LLC owned 100% of each of Funds.
3. Agreements
(a)
| Investment Management Agreement. The Adviser is the Funds’ investment adviser and was organized as a Delaware limited liability company in 2012. The Adviser’s primary business is to provide a variety of investment management services, including an investment program for the Funds. |
As compensation for its services, the Adviser is paid by the Funds a fee, computed daily and paid monthly in arrears at an annual rate of 1.00% of each Funds’ average daily net assets.
The Adviser bears all expenses of the Funds.
4. Service Providers
(a)
| Custodian, Administrator, and Transfer Agent. The custodian to the Funds is U.S. Bank, N.A. The administrator and transfer agent to the Funds is U.S. Bancorp Fund Services, LLC (doing business as U.S. Bank Global Fund Services), an affiliate of U.S. Bank, N.A. |
(b)
| Distributor. Foreside Global Services, LLC (the “Distributor”), serves as the Funds’ distributor. |
5. Investment Transactions
The below table represents the investment transactions for the period ended June 30, 2024.
| | | | | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $7,432,610 | | | $7,424,566 | | | $7,546,774 | | | $7,661,998 | | | $7,712,772 | | | $7,561,445 |
Sales | | | $7,169,296 | | | $7,159,601 | | | $7,273,973 | | | $7,387,632 | | | $7,430,306 | | | $7,280,894 |
| | | | | | | | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $8,288,525 | | | $7,466,728 | | | $7,231,704 | | | $7,531,426 | | | $6,978,451 | | | $6,943,722 |
Sales | | | $7,998,070 | | | $7,178,767 | | | $6,941,433 | | | $7,233,642 | | | $6,679,293 | | | $6,637,008 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | |
Purchases | | | $6,761,707 | | | $6,712,786 | | | $6,690,655 | | | $6,801,672 | | | $6,821,619 |
Sales | | | $6,456,226 | | | $6,401,322 | | | $6,377,258 | | | $6,485,483 | | | $6,510,833 |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $4,119,283 | | | $4,049,122 | | | $4,031,629 | | | $3,983,967 | | | $4,001,237 | | | $4,228,772 |
Sales | | | $3,918,799 | | | $3,847,885 | | | $3,829,494 | | | $3,774,617 | | | $3,787,304 | | | $4,015,080 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | | | | |
Purchases | | | $4,177,638 | | | $4,164,027 | | | $4,291,830 | | | $4,248,365 | | | $4,284,469 | | | $4,282,441 |
Sales | | | $3,960,781 | | | $3,944,679 | | | $4,068,296 | | | $4,026,462 | | | $4,058,611 | | | $4,053,706 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Non U.S. Government
| | | | | | | | | | | | | | | |
Purchases | | | $— | | | $— | | | $— | | | $— | | | $— |
Sales | | | $— | | | $— | | | $— | | | $— | | | $— |
U.S. Government
| | | | | | | | | | | | | | | |
Purchases | | | $4,234,580 | | | $4,103,014 | | | $3,989,166 | | | $3,920,608 | | | $4,145,622 |
Sales | | | $4,010,651 | | | $3,886,624 | | | $3,775,876 | | | $3,709,896 | | | $3,932,799 |
| | | | | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
Investment transactions are recorded on the trade date. Dividend income, less any foreign tax withheld, is recognized on the ex-dividend date and interest income is recognized on an accrual basis, including amortization/accretion of premiums or discounts. Discounts and premiums on securities purchased are amortized over the lives of the respective securities using the constant yield method.
6. Capital Share Transactions
| | | | | | | | | | | | | | | | | | | |
Shares sold | | | 191,564 | | | 183,373 | | | 176,096 | | | 169,590 | | | 163,732 | | | 158,430 |
Shares issued to holders in reinvestment of dividends | | | 102 | | | 94 | | | 86 | | | 80 | | | 75 | | | 70 |
Shares redeemed | | | (175,870) | | | (168,352) | | | (161,671) | | | (155,698) | | | (150,319) | | | (145,448) |
Net increase in shares | | | 15,796 | | | 15,115 | | | 14,511 | | | 13,972 | | | 13,488 | | | 13,052 |
Shares outstanding:
| | | | | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — | | | — |
End of period | | | 15,796 | | | 15,115 | | | 14,511 | | | 13,972 | | | 13,488 | | | 13,052 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Shares sold | | | 168,832 | | | 149,261 | | | 145,200 | | | 148,411 | | | 137,873 | | | 134,431 |
Shares issued to holders in reinvestment of dividends | | | 66 | | | 62 | | | 59 | | | 56 | | | 53 | | | 51 |
Shares redeemed | | | (156,242) | | | (137,024) | | | (133,291) | | | (136,809) | | | (126,553) | | | (123,389) |
Net increase in shares | | | 12,656 | | | 12,299 | | | 11,968 | | | 11,658 | | | 11,373 | | | 11,093 |
Shares outstanding:
| | | | | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — | | | — |
End of period | | | 12,656 | | | 12,299 | | | 11,968 | | | 11,658 | | | 11,373 | | | 11,093 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Shares sold | | | 131,172 | | | 128,061 | | | 125,082 | | | 122,211 | | | 127,915 |
Shares issued to holders in reinvestment of dividends | | | 48 | | | 46 | | | 44 | | | 42 | | | 63 |
Shares redeemed | | | (120,389) | | | (117,528) | | | (114,787) | | | (112,145) | | | (117,496) |
Net increase in shares | | | 10,831 | | | 10,579 | | | 10,339 | | | 10,108 | | | 10,482 |
Shares outstanding:
| | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — |
End of period | | | 10,831 | | | 10,579 | | | 10,339 | | | 10,108 | | | 10,482 |
| | | | | | | | | | | | | | | | |
TABLE OF CONTENTS
NOTES TO FINANCIAL STATEMENTS June 30, 2024 (Unaudited)(Continued)
| | | | | | | | | | | | | | | | | | | |
Shares sold | | | 155,839 | | | 147,825 | | | 140,665 | | | 134,231 | | | 128,406 | | | 123,101 |
Shares issued to holders in reinvestment of dividends | | | 65 | | | 58 | | | 53 | | | 48 | | | 44 | | | 40 |
Shares redeemed | | | (143,334) | | | (135,970) | | | (129,390) | | | (123,477) | | | (118,122) | | | (113,244) |
Net increase in shares | | | 12,570 | | | 11,913 | | | 11,328 | | | 10,802 | | | 10,328 | | | 9,897 |
Shares outstanding:
| | | | | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — | | | — |
End of period | | | 12,570 | | | 11,913 | | | 11,328 | | | 10,802 | | | 10,328 | | | 9,897 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Shares sold | | | 118,251 | | | 113,767 | | | 109,595 | | | 105,689 | | | 102,012 | | | 98,512 |
Shares issued to holders in reinvestment of dividends | | | 37 | | | 34 | | | 32 | | | 30 | | | 28 | | | 26 |
Shares redeemed | | | (108,784) | | | (104,660) | | | (100,823) | | | (97,230) | | | (93,847) | | | (90,625) |
Net increase in shares | | | 9,504 | | | 9,141 | | | 8,804 | | | 8,489 | | | 8,193 | | | 7,913 |
Shares outstanding:
| | | | | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — | | | — |
End of period | | | 9,504 | | | 9,141 | | | 8,804 | | | 8,489 | | | 8,193 | | | 7,913 |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Shares sold | | | 95,183 | | | 92,004 | | | 88,953 | | | 86,018 | | | 90,878 |
Shares issued to holders in reinvestment of dividends | | | 24 | | | 22 | | | 21 | | | 20 | | | 22 |
Shares redeemed | | | (87,561) | | | (84,636) | | | (81,831) | | | (79,133) | | | (83,601) |
Net increase in shares | | | 7,646 | | | 7,390 | | | 7,143 | | | 6,905 | | | 7,299 |
Shares outstanding:
| | | | | | | | | | | | | | | |
Beginning of period | | | — | | | — | | | — | | | — | | | — |
End of period | | | 7,646 | | | 7,390 | | | 7,143 | | | 6,905 | | | 7,299 |
| | | | | | | | | | | | | | | | |
7. Subsequent Events Evaluation
In preparing these financial statements, the Funds have evaluated events and transactions for potential recognition or disclosure resulting from subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments, other than those included below.
On July 17, 2024, the Board of Trustees of the Trust approved a reorganization plan for conversion of the Funds, except for LifeX Income Fund 1963M and LifeX Inflation-Protected Income Fund 1963M, into exchange traded funds in early to mid-September 2024.
As of August 6, 2024, the Adviser is temporarily waiving the annual rate of 0.50% of expenses, calculated by each Fund’s daily net assets, computed daily and paid monthly in arrears.
TABLE OF CONTENTS
Schedule A
| | | |
| | LifeX Income Funds | |
| | LifeX Income Fund 1948F | |
| | LifeX Income Fund 1949F | |
| | LifeX Income Fund 1950F | |
| | LifeX Income Fund 1951F | |
| | LifeX Income Fund 1952F | |
| | LifeX Income Fund 1953F | |
| | LifeX Income Fund 1954F | |
| | LifeX Income Fund 1955F | |
| | LifeX Income Fund 1956F | |
| | LifeX Income Fund 1957F | |
| | LifeX Income Fund 1958F | |
| | LifeX Income Fund 1959F | |
| | LifeX Income Fund 1960F | |
| | LifeX Income Fund 1961F | |
| | LifeX Income Fund 1962F | |
| | LifeX Income Fund 1963F | |
| | LifeX Income Fund 1963M | |
| | LifeX Inflation-Protected Income Funds | |
| | LifeX Inflation-Protected Income Fund 1948F | |
| | LifeX Inflation-Protected Income Fund 1949F | |
| | LifeX Inflation-Protected Income Fund 1950F | |
| | LifeX Inflation-Protected Income Fund 1951F | |
| | LifeX Inflation-Protected Income Fund 1952F | |
| | LifeX Inflation-Protected Income Fund 1953F | |
| | LifeX Inflation-Protected Income Fund 1954F | |
| | LifeX Inflation-Protected Income Fund 1955F | |
| | LifeX Inflation-Protected Income Fund 1956F | |
| | LifeX Inflation-Protected Income Fund 1957F | |
| | LifeX Inflation-Protected Income Fund 1958F | |
| | LifeX Inflation-Protected Income Fund 1959F | |
| | LifeX Inflation-Protected Income Fund 1960F | |
| | LifeX Inflation-Protected Income Fund 1961F | |
| | LifeX Inflation-Protected Income Fund 1962F | |
| | LifeX Inflation-Protected Income Fund 1963F | |
| | LifeX Inflation-Protected Income Fund 1963M | |
| | | |
TABLE OF CONTENTS
Additional Information (Unaudited)
1. Availability of Quarterly Portfolio Holdings Schedules
The Funds are required to file its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Part F of Form N-PORT. The Fund’s filings on Part F of Form N-PORT are available without charge on the SEC’s website, www.sec.gov, or upon request, by calling 1.855.609.3680.
2. Proxy Voting Policies and Procedures and Proxy Voting Record
A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1.855.609.3680 and on the SEC’s website, www.sec.gov. The Fund is required to file how it voted proxies related to portfolio securities during the most recent 12-month period ended June 30. The information is available without charge, upon request by calling 1.855.609.3680 and on the SEC’s website, www.sec.gov.
| (b) | Financial Highlights are included within the financial statements filed under Item 7 of this Form N-CSR. |
Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.
There were no changes in or disagreements with accountants during the period covered by this report.
Item 9. Proxy Disclosure for Open-End Investment Companies.
There were no matters submitted to a vote of shareholders during the period covered by this report.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.
This information is included as part of the financial statements filed under Item 7 of this Form N-CSR.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable for semi-annual reports.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to open-end investment companies.
Item 15. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 16. Controls and Procedures.
| (a) | The registrant’s President and Treasurer have reviewed the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the registrant and by the registrant’s service provider. |
| (b) | There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable to open-end investment companies.
Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.
Item 19. Exhibits.
| (a) | (1) Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit. Not applicable. |
(2) A separate certification for each principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | (Registrant) | Stone Ridge Trust | |
| | | | |
| | By (Signature and Title)* | /s/ Ross Stevens | |
| | | Ross Stevens, President, Chief Executive Officer and Principal Executive Officer | |
| | | | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| | By (Signature and Title)* | /s/ Ross Stevens | |
| | | Ross Stevens, President, Chief Executive Officer and Principal Executive Officer | |
| | By (Signature and Title)* | /s/ Maura Keselowsky | |
| | | Maura Keselowsky, Treasurer, Principal Financial Officer, Chief Financial Officer and Chief Accounting Officer | |
