Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 35

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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5 and December 31, 2024, respectively (dollar amounts in thousands):Initial Margin CollateralConsolidated Balance Sheet LocationMarch 31, 2025December 31, 2024Agency RMBSInvestment securities available for sale, at fair value$50,122 $33,399 Restricted cashOther assets38,860 68,253 Total initial margin collateral$88,982 $101,652 Margin excess related to settlement of variation margin in the amount of approximately $8.1 million and $11.1 million as of March 31, 2025 and December 31, 2024, respectively, is included in other assets on the accompanying condensed consolidated balance sheets. Margin deficit related to settlement of variation margin in the amount of approximately $8.6 million and $8.1 million as of March 31, 2025 and December 31, 2024, respectively, is included in other liabilities on the accompanying condensed consolidated balance sheets.The tables below summarize the activity of derivative instruments for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):Notional Amount For the Three Months Ended March 31, 2025Type of Derivative InstrumentDecember 31, 2024AdditionsTerminationsMarch 31, 2025Interest rate caps$45,142 $45,142 $(45,142)$45,142 Options— 160 — 160 Interest rate swaps4,134,267 1,584,169 (1,224,060)4,494,376 Credit default swaps400,000 — — 400,000 U.S. Treasury futures406,100 112,500 (406,100)112,500 Notional Amount For the Three Months Ended March 31, 2024Type of Derivative InstrumentDecember 31, 2023Additions/Transfers In (1)TerminationsMarch 31, 2024Interest rate caps$550,025 $148,044 $(161,165)$536,904 Options— 202 (102)100 Interest rate swaps2,778,015 904,180 (305,450)3,376,745 Credit default swaps— 400,000 — 400,000 U.S. Treasury futures— 280,750 (255,450)25,300 (1