Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 45

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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,813 68,253 Total initial margin collateral$107,658 $101,652 Margin excess related to settlement of variation margin in the amount of approximately $11.1 million as of June 30, 2025 and December 31, 2024, 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 $14.5 million and $8.1 million as of June 30, 2025 and December 31, 2024, respectively, is included in other liabilities on the accompanying condensed consolidated balance sheets.

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The tables below summarize the activity of derivative instruments for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):Notional Amount For the Three Months Ended June 30, 2025Type of Derivative InstrumentMarch 31, 2025AdditionsTerminations/Pair-OffsJune 30, 2025Interest rate caps$45,142 $— $— $45,142 Options160 92 (252)— TBAs— 20,000 (10,000)10,000 Interest rate swaps4,494,376 671,166 (298,325)4,867,217 Credit default swaps400,000 75,000 — 475,000 U.S. Treasury futures112,500 356,900 (221,900)247,500 Notional Amount For the Three Months Ended June 30, 2024Type of Derivative InstrumentMarch 31, 2024Additions/Transfers In (1)Terminations/Transfers Out (1)June 30, 2024Interest rate caps$536,904 $29,000 $(302,762)$263,142 Options100 180 (200)80 Interest rate swaps3,376,745 189,244 (593,959)2,972,030 Credit default swaps400,000 — — 400,000 U.S. Treasury futures25,300 218,200 (176,500)67,000 Notional Amount For the Six Months Ended June 30, 2025Type of Derivative InstrumentDecember 31, 2024AdditionsTerminations/Pair-OffsJune 30, 2025Interest rate caps$45