Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 365

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 365
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, 2023Additions/Transfers In (1)Terminations/Transfers Out (1)June 30, 2024Interest rate caps$550,025 $177,044 $(463,927)$263,142 Options— 382 (302)80 Interest rate swaps2,778,015 1,093,424 (899,409)2,972,030 Credit default swaps— 400,000 — 400,000 U.S. Treasury futures— 498,950 (431,950)67,000 (1)Includes transfers from or transfers to disposal group held for sale with respect to interest rate caps held in certain Consolidated Real Estate VIEs (see Note 9).

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The following table presents the components of realized gains (losses), net and unrealized gains (losses), net related to derivative instruments, which are included in (losses) gains on derivative instruments, net in the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Type of Derivative InstrumentRealized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Interest rate caps (1)$— $61 $— $446 $— $46 $— $3,253 Options2,642 (2,690)(1,279)516 2,642 — (1,490)7 TBAs(4)105 — — (4)105 — — Interest rate swaps5,080 (26,665)12,196 4,142 31,415 (100,603)17,426 47,851 Credit default swaps(1,214)(1,998)(1,022)693 (2,214)(752)(2,033)(303)U.S. Treasury futures2,791 (5,074)67 (288)1,932 (6,335)236