Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 263

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 263
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, the weighted average interest rate for repurchase agreements secured by investment securities was 4.43%.

The following table details the quarterly average balance, ending balance and maximum balance at any month-end during each quarter in 2025, 2024 and 2023 for our repurchase agreements secured by investment securities (dollar amounts in thousands):

Quarter EndedQuarterly AverageBalanceEnd of QuarterBalanceMaximum Balanceat any Month-EndSeptember 30, 2025$5,768,898 $6,100,691 $6,198,269 June 30, 20254,512,106 4,602,078 4,602,078 March 31, 20254,000,724 4,128,622 4,156,941 December 31, 20243,328,795 3,516,611 3,516,611 September 30, 20242,772,203 3,045,597 3,045,597 June 30, 20242,202,770 2,447,851 2,447,851 March 31, 20242,078,041 2,057,361 2,126,993 December 31, 20231,851,577 1,862,063 1,870,941 September 30, 20231,184,714 1,490,996 1,490,996 June 30, 2023492,473 664,459 664,459 March 31, 2023131,174 226,778 226,778 

TBA Dollar Rolls

From time to time, we enter into TBAs as an alternate means of investing in and financing Agency RMBS. We include the cost basis of outstanding TBAs in our measures of leverage because a forward contract to acquire Agency RMBS in the TBA market carries similar risks to Agency RMBS purchased in the cash market and funded with on-balance sheet liabilities. As of September 30, 2025, the Company had outstanding TBA forward contracts with a cost basis of $30.8 million.

Collateralized Debt Obligations

We refer to our re-securitization of the Company's investment in certain subordinated securities issued by Consolidated SLST as our non-Agency RMBS re-securitization.  The Company engaged in the re-securitization transaction primarily for the