Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 258

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 258
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 of our total assets. The increase in the carrying value of our investment securities as of September 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 and principal paydowns of Agency RMBS during the period.

The following tables summarize our investment securities portfolio as of September 30, 2025 and December 31, 2024 (dollar amounts in thousands):

September 30, 2025UnrealizedWeighted AverageInvestment SecuritiesCurrent Par ValueAmortized CostGainsLossesFair ValueCoupon (1)Yield (2)Available for Sale (“AFS”)  and TBAsAgency RMBS and TBAsFixed rate$6,339,838 $6,309,171 $94,530 $(1,132)$6,402,569 5.61 %5.66 %Adjustable rate120,821 119,192 3,796 — 122,988 5.44 %5.53 %IO1,519,683 114,920 1,401 (13,875)102,446 1.66 %11.90 %TBAs (3)30,000 30,764 — (121)30,643 5.88 %— Total Agency RMBS and TBAs8,010,342 6,574,047 99,727 (15,128)6,658,646 4.81 %5.78 %Non-Agency RMBSSenior4,000 4,000 104 — 4,104 8.76 %8.76 %Subordinated8,509 7,917 8 (2,316)5,609 4.71 %5.51 %IO322,032 12,168 6,293 — 18,461 1.49 %28.86 %Total Non-Agency RMBS334,541 24,085 6,405 (2,316)28,174 1.64 %18.55 %U.S. Treasury securities180,890 180,868 2,520 (850)182,538 4.58 %4.57