Logan Stone Capital, LLC

Hedge Fund • Long/Short

Logan Stone Capital, LLC is a Long/Short Hedge Fund based in Richmond, VA led by Matthew Andrews Herman, reporting $513.1M in AUM as of Q3 2025 with 50% ETF concentration, 70% concentrated in top 10 holdings, and 16% allocation to USHY.

Managing PartnerMatthew Andrews Herman

Portfolio Value: $213.8M
Positions: 65
Top Holding: USHY at 15.54%
Last Reported: Q3 2025

Address4120 W. Broad Street, Richmond, VA, 23230, United States

Top Holdings

Largest long holdings in Logan Stone Capital, LLC's portfolio (69.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Broad USD High Yield Corporate Bond USHY	ETF ETF	$33.2M	15.54%	+$21.7M Bought	— 879.4K shares	Q1 2025 Held for 8 months
2 SSK Morgan Stanley 9.5% Sparqs LNKD to Sunoco SSK	Unknown Unknown	$22.8M	10.65%	+$22.8M New	— 711.8K shares	Q3 2025 Held for 2 months
3 Fox Corporation FOX	Entertainment Communication Services	$19.3M	9.03%	+$19.3M Bought	0.08% 337.1K shares	Q3 2025 Held for 2 months
4 ETHA iShares Ethereum Trust ETHA	Unknown Unknown	$18.8M	8.81%	-$24.6M Sold	— 597.7K shares	Q4 2024 Held for 11 months
5 iShares Bitcoin Trust IBIT	ETF ETF	$15.2M	7.10%	-$50.1M Sold	— 233.4K shares	Q1 2024 Held for 1y 8m
6 Fidelity Wise Origin Bitcoin Fund FBTC	ETF ETF	$15.0M	7.00%	+$12.8M Bought	— 150.0K shares	Q2 2025 Held for 5 months
7 SPDR Blackstone Senior Loan SRLN	ETF ETF	$8.5M	3.99%	+$1.9M Bought	— 205.3K shares	Q1 2024 Held for 1y 8m
8 iShares Preferred and Income Securities ETF PFF	ETF ETF	$5.9M	2.75%	+$5.9M Bought	— 186.2K shares	Q3 2025 Held for 2 months
9 iShares MSCI United Kingdom EWU	ETF ETF	$5.3M	2.46%	+$4.7M Bought	— 125.3K shares	Q2 2023 Held for 2y 5m
10 iShares Core U.S. Aggregate Bond AGG	ETF ETF	$5.1M	2.41%	+$199.7K Bought	— 51.4K shares	Q3 2024 Held for 1y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Logan Stone Capital, LLC's latest filing

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Market Value

$213.8M

Prior: $212.4M

Q/Q Change

+0.675%

+$1.4M

Net Flows % of MV

-32.17%

Turnover Ratio

56.25%

New Purchases

4 stocks

$25.3M

Added To

13 stocks

+$49.6M

Sold Out Of

30 stocks

$28.5M

Reduced Holdings

31 stocks

-$115.3M

Increased Positions

Position	Shares Δ	Change
1 SSK Morgan Stanley 9.5% Sparqs LNKD to Sunoco SSK	New	0 → 711.8K +$22.8M
2 FETH Fidelity Ethereum Fund FETH	New	0 → 38.1K +$1.6M
3 VanEck J. P. Morgan EM Local Currency Bond EMLC	New	0 → 26.6K +$679.8K
4 VACH Voyager Acquisition Corp VACH	New	0 → 28.3K +$297.3K
5 iShares MSCI United Kingdom EWU	+887.48%	12.7K → 125.3K +$4.7M

Decreased Positions

Position	Shares Δ	Change
1 iShares Global Infrastructure IGF	Sold	81.9K → 0 −$4.8M
2 Ares Acquisition Corporation AACT	Sold	315.3K → 0 −$3.6M
3 PHT Pioneer High Income Fund PHT	Sold	277.8K → 0 −$2.2M
4 Blackrock Munivest Fund II MVT	Sold	217.7K → 0 −$2.2M
5 PCK PIMCO California Municipal Income Fund II PCK	Sold	382.5K → 0 −$2.1M