Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 136

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 136
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 a different estimate of fair value at the reporting date. The Company uses inputs that are current as of each reporting date, which may include periods of market dislocation, during which time price transparency may be reduced. This condition could cause the Company’s financial instruments to be reclassified from Level 2 to Level 3 in future periods.

F-67

The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2024 and 2023, respectively, on the Company’s consolidated balance sheets (dollar amounts in thousands):Measured at Fair Value on a Recurring Basis atDecember 31, 2024December 31, 2023Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalAssets carried at fair valueResidential loans:Residential loans$— $— $632,266 $632,266 $— $— $827,535 $827,535 Consolidated SLST— — 965,672 965,672 — — 754,860 754,860 Residential loans held in securitization trusts— — 2,243,800 2,243,800 — — 1,501,908 1,501,908 Investment securities available for sale:Agency RMBS— 3,136,812 — 3,136,812 — 1,989,324 — 1,989,324 Non-Agency RMBS— 69,687 — 69,687 — 24,493 — 24,493 U.S. Treasury securities— 622,045 — 622,045 — — — — Multi-family loans— — 86,192 86,192 — — 95,792 95,792 Equity investments— — 113,492 113,492 — — 147,116 147,116 Derivative assets:   Interest rate caps (1) (2)— 56 — 56 — 6,510 — 6,510 Interest rate swaps (2) (4)— — — — — — — — U.S. Treasury futures (2) (4)— — — — — — — — M