Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 208

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 208
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. Our investment securities also include first loss subordinated securities and certain IOs issued by Consolidated SLST. At March 31, 2025, we had no investment securities in a single issuer or entity that had an aggregate book value in excess of 5% of our total assets. The increase in the carrying value of our investment securities as of March 31, 2025 as compared to December 31, 2024 is primarily due to purchases of Agency RMBS and an increase in the fair value of a number of our investment securities, partially offset by sales of U.S. Treasury securities during the period.

The following tables summarize our investment securities portfolio as of March 31, 2025 and December 31, 2024 (dollar amounts in thousands):

March 31, 2025UnrealizedWeighted AverageInvestment SecuritiesCurrent Par ValueAmortized CostGainsLossesFair ValueCoupon (1)Yield (2)Available for Sale (“AFS”) Agency RMBSFixed rate$4,339,392 $4,325,156 $41,378 $(6,080)$4,360,454 5.71 %5.72 %Adjustable rate127,884 126,208 2,246 — 128,454 5.45 %5.53 %IO1,100,271 81,252 2,484 (13,924)69,812 1.69 %10.21 %Total Agency RMBS5,567,547 4,532,616 46,108 (20,004)4,558,720 4.77 %5.81 %Non-Agency RMBSSenior41,628 41,628 42 (8)41,662 8.24 %8.20 %Subordinated6,959 6,353 — (2,519)3,834 4.42 %5.27 %IO336,568 12,722 5,569 — 18,291 1.57 %28.86 %Total Non-Agency RMBS385,155 60,703 5,611 (2,527)63,787 2.34 %12.27 %U.S. Treasury securities24,920 25,342 — (1,037)24,305 3.