Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 244

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 244
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 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 June 30, 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 June 30, 2025 and December 31, 2024 (dollar amounts in thousands):

June 30, 2025UnrealizedWeighted AverageInvestment SecuritiesCurrent Par ValueAmortized CostGainsLossesFair ValueCoupon (1)Yield (2)Available for Sale (“AFS”)  and TBAsAgency RMBS and TBAsFixed rate$4,698,955 $4,677,186 $50,651 $(5,335)$4,722,502 5.65 %5.69 %Adjustable rate124,721 123,067 2,239 — 125,306 5.44 %5.53 %IO1,175,454 88,393 4,381 (10,783)81,991 1.71 %10.77 %TBAs (3)10,000 10,059 105 — 10,164 6.00 %— Total Agency RMBS and TBAs6,009,130 4,898,705 57,376 (16,118)4,939,963 4.81 %5.79 %Non-Agency RMBSSenior16,507 16,507 23 — 16,530 8.30 %8.26 %Subordinated8,509 7,910 4 (2,530)5,384 4.27 %5.08 %IO327,245 12,432 5,021 — 17,453 1.52 %28.86 %Total Non-Agency RMBS352,261 36,849 5,048 (2,530)39,367 1.89 %14.99 %U.S. Treasury securities141,430 141,413 429 (1,407)140,435 4.47