Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 58

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 67 — 67 Total$— $4,650,564 $4,114,786 $8,765,350 $— $3,828,667 $4,062,425 $7,891,092 Liabilities carried at fair value        CDOs:Consolidated SLST $— $— $805,273 $805,273 $— $— $811,591 $811,591 Residential loan securitizations— 1,554,353 — 1,554,353 — 1,253,332 — 1,253,332 Non-Agency RMBS re-securitization— 69,515 — 69,515 — 70,757 — 70,757 Senior unsecured notes— 139,761 — 139,761 — 60,310 — 60,310 Derivative liabilities:Interest rate swaps (2) (4)— — — — — — — — U.S. Treasury futures (2) (4)— — — — — — — — Credit default swaps (2) (4)— — — — — — — — Total$— $1,763,629 $805,273 $2,568,902 $— $1,384,399 $811,591 $2,195,990     

53

(1)Excludes assets of disposal group held for sale (see Note 9).(2)Included in other assets or other liabilities, respectively, in the condensed consolidated balance sheets.(3)Includes interest rate caps classified as Level 2 instruments in the amount of $0.2 million and $0.1 million as of March 31, 2025 and December 31, 2024, respectively.(4)All of the Company’s interest rate swaps, credit default swaps and U.S. Treasury futures are cleared through central clearing houses. The Company exchanges variation margin for the derivative instruments based upon daily changes in fair value. Includes derivative liabilities of $39.3 million netted against derivative assets of $10.3 million and a net variation margin of $29.0 million as of March 31, 2025. Includes derivative liabilities of $