Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 403

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 403
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 Months Ended September 30, 2024Type of Derivative InstrumentDecember 31, 2023Additions/Transfers In (1)Terminations/Transfers Out (1)September 30, 2024Interest rate caps$550,025 $177,044 $(463,927)$263,142 Options— 382 (382)— Interest rate swaps2,778,015 1,974,659 (1,450,361)3,302,313 Credit default swaps— 400,000 — 400,000 Futures— 498,950 (498,950)— (1)Includes transfers from or transfers to disposal group held for sale with respect to interest rate caps held in certain Consolidated Real Estate VIEs (see Note 9).

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The following table presents the components of realized gains (losses), net and unrealized gains (losses), net related to derivative instruments, which are included in (losses) gains on derivative instruments, net in the condensed consolidated statements of operations for the three and nine months ended September 30, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024Type of Derivative InstrumentRealized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Interest rate caps (1)$— $9 $— $(209)$— $54 $— $3,044 Options(517)(408)(772)(7)2,125 (408)(2,261)— IRLCs— (1,940)— — — (1,940)— — TBAs484 (226)— — 480 (121)— — Interest rate swaps1,804 (5,868)(835)(55,611)33,219 (106,470)16,591 (7,760)Credit default swaps(1,240)210 (1,022)(720)(3,454)(542)(3,056)(1,023)Futures(10,145