Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 22

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 accompanying condensed consolidated balance sheets with the fair value of securities pledged disclosed in Notes 10 and 13, respectively.

18

Realized Gain and Loss ActivityThe Company did not sell investment securities during the three months ended September 30, 2025. The following table summarizes our investment securities sold during the nine months ended September 30, 2025 (dollar amounts in thousands):For the Nine Months Ended September 30, 2025Sales Proceeds Realized GainsRealized LossesNet Realized Gains (Losses)U.S. Treasury Securities$658,763 $3,700 $(30,570)$(26,870)Non-Agency RMBS4,573 52 — 52 Total $663,336 $3,752 $(30,570)$(26,818)The Company did not sell investment securities during the three and nine months ended September 30, 2024.The Company recognized write-downs of certain Agency RMBS IOs for a loss of $2.5 million for the nine months ended September 30, 2025, which is included in realized losses, net on the accompanying condensed consolidated statements of operations. The Company recognized write-downs of non-Agency RMBS for a loss of $0.4 million and $0.9 million for the three and nine months ended September 30, 2024, respectively.Weighted Average LifeActual maturities of our investment securities available for sale are generally shorter than stated contractual maturities (with contractual maturities up to 38 years), as they are affected by periodic payments and prepayments of principal on the underlying mortgages. As of September 30, 2025 and December 31, 2024, based on management’s estimates, the weighted average life of the Company’s investment securities available for sale portfolio was approximately 6.5 years and 7.4 years, respectively.The following table sets forth the weighted average lives of our investment securities available for sale as of September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):Weighted Average LifeSeptember 30, 2025December 31, 20240 to 5 years$1,630,237 $604,459 Over 5 to 10 years5,054,934 2,923,871 10+ years153,544 300,214 Total$6,838,715 $3,828,