Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 437

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 437
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Presented in unrealized gains (losses), net on the Company's condensed consolidated statements of operations.(2)Presented in (loss) income from equity investments on the Company's condensed consolidated statements of operations.

67

The following table presents the carrying value and estimated fair value of the Company’s financial instruments at September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):  September 30, 2025December 31, 2024 Fair ValueHierarchy LevelCarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial Assets:     Cash and cash equivalentsLevel 1$185,285 $185,285 $167,422 $167,422 Investment securities available for saleLevel 26,838,715 6,838,715 3,828,544 3,828,544 Residential loansLevel 34,151,647 4,151,647 3,841,738 3,841,738 Residential loans held for saleLevel 3105,036 105,036 — — Multi-family loansLevel 368,647 68,647 86,192 86,192 Equity investmentsLevel 328,825 28,825 113,492 113,492 Derivative assetsLevel 2229 229 56 56 IRLCsLevel 32,383 2,383 — — Derivative assets in disposal group held for saleLevel 2— — 67 67 Mortgage servicing rightsLevel 321,896 21,896 21,003 21,003 Financial Liabilities:     Repurchase agreementsLevel 26,481,072 6,481,072 4,012,225 4,012,225 Collateralized debt obligations:Residential loan securitizations at amortized cost, netLevel 3375,164 359,892 842,764 818,482 Residential loan securitizations at fair valueLevel 22,118,581 2,118,581 1,253,332 1,253,332 Consolidated SLSTLevel 31,016,952 1,016,952 811,591 811,591 Non-Agency RMBS re-securitizationLevel 266,762 66,762 70,757 70,