| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| 27.1% | 0% | 0% |
| 2025 |
|---|
| 21.0% |
Stone Ridge applies Bayesian statistical principles to treasure hunting across multiple markets, achieving significant discoveries in 2025. The firm discovered substantial untapped natural gas reserves in Arkansas' Fayetteville Shale, increasing expected lifetime revenue from $10 billion to $15 billion through disciplined testing and technological improvements. Stone Ridge Energy has purchased nearly $11 billion of energy assets via proprietary securitizations, delivering over 20% annual returns while operating 5,596 wells that power four million American families. Longtail Re executed a landmark $1.4 billion retrospective reinsurance transaction with Everest Group, growing assets to over $6 billion while maintaining 20% annualized ROE since inception. The firm champions bitcoin as a tool for financial sovereignty, supporting Venezuelan opposition leader María Corina Machado and human rights activists globally. Key risks include natural gas price volatility, legacy reinsurance adverse selection, and authoritarian financial repression. Catalysts include drilling technology improvements, potential Venezuelan regime change, and growing bitcoin adoption for financial freedom.
Stone Ridge applies Bayesian statistical principles to treasure hunting across energy, reinsurance, and bitcoin markets, seeking undervalued assets through disciplined iteration and adaptive learning.
Stone Ridge expects to become a top three U.S. hydrocarbon producer through disciplined acquisitions and development, while maintaining selective approach to reinsurance opportunities and supporting bitcoin adoption for financial freedom.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Dec 28 2025 | 2025 Q4 | AAPL, AMZN, NVDA | Bayesian, Bitcoin, energy, Human Rights, Natural Gas, operations, Reinsurance | - | Stone Ridge discovered significant natural gas reserves in Arkansas, increasing expected revenue by $5 billion. The firm operates $11 billion in energy assets delivering 20% returns and executed a $1.4 billion reinsurance transaction. Strong advocate for bitcoin as financial sovereignty tool, supporting human rights activists globally while applying Bayesian principles across all investments. |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2025 Q4 |
EnergyStone Ridge Energy discovered significant untapped natural gas reserves in Arkansas' Fayetteville Shale through disciplined drilling tests, increasing expected lifetime revenue from $10 billion to $15 billion. The firm operates 5,596 wells powering four million American homes and has achieved >20% annual returns with low volatility across thirteen equity tranches. |
Natural Gas Shale Drilling Energy Production Fayetteville |
CryptoBitcoin is positioned as essential financial infrastructure for human rights activists and populations under authoritarian regimes. The letter argues bitcoin provides unstoppable money for those facing currency devaluation, financial repression, and state terrorism, citing examples from Venezuela, Iran, and Malawi. |
Bitcoin Human Rights Venezuela Financial Freedom Authoritarianism | |
ReinsuranceLongtail Re executed a record $1.4 billion legacy reinsurance transaction with Everest Group and has delivered 20% annualized ROE since inception. The firm maintains disciplined approach to legacy trades, completing only three out of almost 100 requests, while focusing on prospective quota shares with leading reinsurers. |
Legacy Reinsurance Longtail Re Everest Group Quota Shares ROE | |
Private CreditStone Ridge has purchased almost $11 billion of energy assets via proprietary securitizations without bankers or fee leakage. The integrated precision of operational excellence and financial sophistication has produced consistent returns across volatile natural gas price cycles. |
Securitizations Energy Assets Proprietary Financing Asset Backed Securities |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| No Elevator Pitches found | ||||||||||
| TICKER | COMMENTARY |
|---|---|
| AMZN | Seething with financial privilege, The Atlantic editors might debate the relative merits of saving in NVDA vs. AMZN. How about, instead, cattle vs. sheet metal? |
| NVDA | Seething with financial privilege, The Atlantic editors might debate the relative merits of saving in NVDA vs. AMZN. How about, instead, cattle vs. sheet metal? It is easy to underappreciate the staggeringly remarkable state of energy engineering. Modern energy companies are technology marvels on par with Google or NVIDIA. |
| Ticker | Put/Call | Amount Bought | Shares Bought | % Change | Weight % |
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