Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 276

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 276
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 AFS$3,428,985 $1,983,353 $36,781 $(6,317)$2,013,817 3.64 %6.20 %$1,771,436 Consolidated SLSTNon-Agency RMBSSubordinated$238,017 $189,962 $— $(49,684)$140,278 4.44 %4.01 %$55,881 IO139,914 17,937 — (1,061)16,876 3.50 %7.43 %— Total Non-Agency RMBS377,931 207,899 — (50,745)157,154 4.09 %4.32 %55,881 Total - Consolidated SLST$377,931 $207,899 $— $(50,745)$157,154 4.09 %4.32 %$55,881 Total Investment Securities$3,806,916 $2,191,252 $36,781 $(57,062)$2,170,971 3.74 %5.80 %$1,827,317 

(1)Our weighted average coupon was calculated by dividing our annualized coupon income by our weighted average current par value for the respective periods.

(2)Our weighted average yield was calculated by dividing our annualized interest income by our weighted average amortized cost for the respective periods.

(3)Outstanding repurchase agreements as of December 31, 2023 do not include $34.7 million of repurchase agreement financing for CDOs repurchased from our residential loan securitizations. Repurchased CDOs are eliminated in consolidation in accordance with GAAP.

As of December 31, 2024, Agency RMBS with a fair value of $33.4 million were pledged as initial margin for outstanding interest rate swaps.

As of December 31, 2024, Consolidated SLST subordinated bonds with a fair value of $114.0 million were held in a non-Agency RMBS re-securitization (see “Investment Securities Financing—Collateralized Debt Obligations” below).

96

Investment Securities Financing

Repurchase Agreements

As of December 31, 2024, the Company had $3.5 billion outstanding under repurchase agreements with