Company: NLY-PF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001043219-25-000012
Chunk: 253

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 253
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es) on investments and other in the Consolidated Statements of Comprehensive Income (Loss). 

11

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 1.  Financial Statements

 Gross Realized GainsGross Realized LossesNet Realized Gains (Losses)For the three months ended(dollars in thousands)September 30, 2025$11,353 $(9,554)$1,799 September 30, 2024$26,983 $(35,258)$(8,275)For the nine months endedSeptember 30, 2025$85,463 $(164,028)$(78,565)September 30, 2024$67,209 $(888,683)$(821,474)

6. LOANSThe Company invests in residential loans. Loans are classified as either held for investment or held for sale. Loans are eligible to be accounted for under the fair value option. If loans are elected under the fair value option, they are carried at fair value with changes in fair value recognized in earnings. Otherwise, loans held for investment are carried at cost less impairment and loans held for sale are accounted for at the lower of cost or fair value.Excluding loans transferred or pledged to securitization vehicles, as of September 30, 2025 and December 31, 2024, the Company had $4.0 billion and $3.5 billion, respectively, of loans for which the fair value option was elected. If the Company intends to sell or securitize the loans and the securitization vehicle is not expected to be consolidated, the loans are classified as held for sale. Any origination fees and costs or purchase premiums or discounts are deferred and recognized upon sale. The Company determines the fair value of loans held for sale on an individual loan basis. The carrying value of the Company’s residential loans held for sale was $10.9 million and $10.0 million at September 30, 2025 and December 31, 2024, respectively.The following table presents the activity of the Company’s loan investments, excluding loans transferred or pledged to securitization vehicles, for the nine months ended September 30, 2025:Residential Loans(dollars in thousands)Beginning balance January 1, 2025$3,546,902 Purchases / originations / draws (1)12,841,249