Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 260

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 260
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 5,938 — 19,058 1.52 %28.86 %Total Non-Agency RMBS400,305 66,203 6,098 (2,614)69,687 2.01 %14.02 %U.S. Treasury securities652,792 657,659 — (35,614)622,045 4.16 %4.13 %Total - AFS$5,297,827 $3,886,897 $18,959 $(77,312)$3,828,544 4.04 %5.98 %Consolidated SLSTNon-Agency RMBSSubordinated$242,088 $181,716 $4,945 $(52,134)$134,527 4.60 %6.02 %IO129,478 14,634 — (653)13,981 3.50 %8.54 %Total Non-Agency RMBS371,566 196,350 4,945 (52,787)148,508 4.21 %6.23 %Total - Consolidated SLST$371,566 $196,350 $4,945 $(52,787)$148,508 4.21 %6.23 %Total Investment Securities$5,669,393 $4,083,247 $23,904 $(130,099)$3,977,052 4.05 %5.94 %

(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 and excludes TBAs.

(3)TBAs are recorded as derivative instruments in the accompanying condensed consolidated financial statements. As of September 30, 2025, our TBAs had a net carrying value of $0.1 million reported in other liabilities on the accompanying condensed consolidated balance sheets. The net carrying value represents the difference between the implied fair value of the underlying security in the TBA contract and the price to be paid or received for the underlying security (or amortized cost).

The following tables summarize certain characteristics of our Agency RMBS portfolio, inclusive of TBAs, as of September 30, 2025