7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2017-09-30 2017-06-30 2017-03-31 2016-09-30 2016-06-30 2016-03-31 2015-09-30 2015-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-12-31 2010-06-30 
      
                                             
      assets
                                             
      cash and cash equivalents
    44,238,000 141,166,000 49,115,000 67,970,000 63,855,000 126,562,000 221,297,000 221,888,000                          496,478,000 836,501 771,282,000      
      cash collateral posted to counterparties
    264,282,000 281,386,000 214,374,000 78,213,000 134,246,000 62,343,000 38,220,000 36,970,000 13,635,000 52,477,000 123,882,000 30,806,000 16,979,000 24,598,000 9,297,000 18,552,000 30,098,000 29,983,000 52,796,000 3,997,000 16,686,000 54,957,000 57,622,000 24,701,000 281,397,000 317,425,000 306,104,000 422,736,000 137,657,000 312,447,000 32,896,000           
      investments in securities, at fair value
                                             
      agency securities
    17,805,194,000 14,515,845,000 14,442,377,000  12,422,762,000 8,857,881,000 10,905,877,000  12,384,137,000 11,176,635,000 12,084,711,000  8,014,139,000 6,697,367,000 6,399,346,000 4,406,521,000 4,259,294,000 4,351,478,000 4,318,397,000 5,178,322,000 5,545,765,000                     
      u.s. treasury securities
    251,641,000 602,250,000           274,172,000 596,521,000 1,258,020,000 198,833,000 194,906,000                         
      receivable for unsettled sales
    296,523,000      35,948,000  96,490,000 94,825,000   1,091,891,000 427,203,000   82,100,000  358,670,000     649,323,000  83,311,000   752,773,000  3,002,570,000  296,378,000         
      derivatives, at fair value
    613,021,000 629,180,000 724,827,000 908,063,000 731,774,000 965,208,000 959,727,000 877,412,000 1,231,057,000 1,001,049,000 848,572,000 984,456,000 1,087,490,000 772,451,000 543,229,000 199,073,000 178,602,000 138,897,000 216,297,000 54,686,000 10,557,000 7,770,000 5,399,000 19,722,000 10,194,000 29,524,000 1,665,000 18,464,000 32,609,000 451,000 223,479,000 169,877,000 310,370,000 508,988,000 38,923 5,367,000 8,069,000 9,600,000 9,475,000 121,726,843  
      accrued interest receivable
    79,672,000 64,117,000 62,215,000 52,874,000 49,000,000 37,018,000 46,209,000 47,111,000 54,434,000 45,760,000 49,730,000 28,809,000 31,697,000 21,588,000 17,412,000 10,570,000 10,220,000 10,026,000 11,094,000 12,833,000 13,215,000 20,607,000 18,640,000 19,028,000 19,271,000 21,458,000 28,883,000 36,967,000 39,935,000 41,075,000 44,436,000 44,901,000 45,492,000 42,034,000 71,664 55,430,000 60,548,000 38,544,000 36,028,000 18,637,166 1,548,678 
      prepaid and other
    2,675,000 6,772,000 3,986,000 1,419,000 2,848,000 3,372,000 1,020,000 1,260,000 983,000 4,628,000 6,990,000 2,101,000 3,093,000 3,106,000 57,733,000 1,094,000 1,574,000 1,694,000 9,692,000 1,977,000 2,336,000 2,458,000 1,804,000 2,038,000 3,850,000 6,052,000 4,382,000               
      total assets
    19,357,246,000 16,240,716,000 15,496,894,000 13,547,953,000 13,404,485,000 10,052,384,000 12,208,298,000 12,344,395,000 13,914,195,000 12,539,120,000 13,249,330,000 9,437,047,000 10,915,258,000 8,856,969,000 8,706,889,000 5,277,307,000 4,987,888,000 5,137,399,000 5,349,500,000 5,524,486,000 5,944,501,000 8,578,199,000 8,453,722,000 8,142,399,000 8,855,002,000 9,538,425,000 11,344,034,000 14,396,404,000 15,123,693,000 15,879,802,000 17,517,812,000 17,624,750,000 17,745,508,000 15,732,517,000 27,752,816 20,878,878,000 23,517,346,000 13,906,493,000 12,812,634,000 6,207,746,751 507,162,530 
      liabilities and stockholders’ equity
                                             
      liabilities
                                             
      repurchase agreements
    16,557,426,000 12,810,087,000 12,490,792,000 10,713,830,000 10,186,415,000 7,071,767,000 8,654,063,000 9,647,982,000 11,504,192,000 9,121,329,000 10,554,538,000 6,463,058,000 8,250,066,000 6,692,547,000 6,440,004,000 3,948,037,000 3,450,439,000 3,661,367,000 3,810,790,000 4,536,065,000 4,510,795,000 7,225,714,000 6,295,802,000 6,514,394,000 7,360,670,000 7,971,642,000 9,923,859,000 12,595,573,000 13,422,795,000 13,904,770,000 15,455,085,000 14,393,580,000 15,163,375,000 13,151,504,000 24,828,614 18,366,095,000 19,826,988,000 12,112,586,000 11,097,863,000 5,335,962,345 334,703,323 
      obligations to return securities received as collateral, at fair value
     509,410,000 506,340,000 493,433,000 522,660,000 500,965,000 1,101,625,000   497,188,000 509,121,000 502,656,000                    1,021,484,000          
      cash collateral posted by counterparties
    453,620,000 470,502,000 655,457,000 833,857,000 692,778,000 920,195,000 927,360,000 860,130,000 1,133,327,000 963,656,000 853,502,000 963,591,000 1,000,407,000 818,846,000 549,658,000 171,060,000 154,713,000 106,898,000 165,130,000 44,704,000 4,100,000 741,000 2,349,000 10,560,000 15,496,000 24,010,000  8,869,000 162,000 38,340,000 137,321,000           
      payable for unsettled purchases
    72,933,000 634,088,000  103,509,000 587,263,000 341,315,000 199,683,000 171,513,000  616,435,000  353,436,000 682,605,000 358,753,000 687,250,000  210,646,000 206,126,000 295,991,000  518,552,000  828,642,000 467,562,000  100,913,000 14,955,000     38,816,000 382,833,000 159,159,000        
      accrued interest payable- repurchase agreements
    63,988,000 39,673,000 54,665,000  24,858,000 32,703,000 49,884,000 26,509,000 30,764,000 33,994,000 38,831,000 19,096,000 20,210,000 5,382,000 964,000 944,000 534,000 548,000 1,015,000 1,625,000 1,289,000 5,823,000 3,676,000 4,066,000 6,025,000 5,164,000 6,255,000    9,564,000 7,888,000          
      accrued interest payable- u.s. treasury securities sold short
     3,755,000 7,294,000  7,294,000 3,638,000 11,869,000 5,049,000  3,475,000 8,660,000 3,418,000                    10,256,000          
      accounts payable and other accrued expenses
    6,824,000 6,311,000 7,203,000 4,733,000 8,470,000 10,833,000 13,373,000 6,719,000 9,863,000 8,446,000 8,294,000 6,404,000 10,718,000 5,011,000 6,547,000 2,727,000 4,882,000 4,645,000 4,373,000 2,571,000 4,108,000 5,654,000 6,502,000 6,041,000 9,271,000 8,630,000 4,645,000 12,901,000 938,000 800,000 3,413,000 3,203,000 3,663,000 23,357,000        
      total liabilities
    17,228,450,000 14,580,765,000 13,793,048,000 12,186,538,000 12,087,628,000 8,891,092,000 10,961,185,000 11,073,211,000 12,678,146,000 11,256,131,000 12,034,197,000 8,324,675,000 9,971,111,000 7,884,311,000 7,684,954,000 4,133,668,000 3,844,196,000 4,028,857,000 4,322,314,000 4,586,182,000 5,052,232,000 7,265,537,000 7,168,605,000 7,005,004,000 7,634,685,000 8,398,911,000 10,248,399,000 12,976,952,000 13,536,899,000 14,221,690,000 15,681,812,000 15,673,867,000 15,877,734,000 13,831,289,000 25,044,018 18,571,103,000 21,074,398,000 12,548,403,000 11,605,727,000 5,581,141,124 452,843,166 
      commitments and contingencies
                                             
      stockholders’ equity
                                             
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,864 shares and 6,847 shares issued and outstanding (25.00 per share liquidation preference) at september 30, 2025 and december 31, 2024, respectively
    7,000                                         
      common stock
    112,000 88,000 82,000 62,000 55,000 49,000 49,000 49,000 49,000 207,000 192,000 163,000 132,000 111,000 100,000 94,000 87,000 83,000 69,000 65,000 65,000 42,000 41,000 37,000 37,000 37,000 37,000 42,000 350,000 352,000 357,000 357,000 357,000 358,000 374 309,000 309,000 188,000 178,000 95,437 7,414 
      additional paid-in capital
    5,441,809,000 5,053,048,000 4,957,900,000 4,585,739,000 4,448,815,000 4,318,666,000 4,317,875,000 4,318,155,000 4,320,621,000 4,128,402,000 4,052,190,000 3,874,627,000 3,701,921,000 3,537,598,000 3,458,492,000 3,403,127,000 3,334,523,000 3,284,218,000 3,115,352,000 3,033,025,000 3,025,274,000 2,693,579,000 2,677,338,000 2,560,442,000 2,560,021,000 2,559,793,000 2,559,582,000 2,672,726,000 2,708,630,000 2,715,040,000 2,732,989,000 2,732,647,000 2,732,269,000 2,734,480,000 2,805,755 2,226,198,000 2,220,417,000 1,340,403,000 1,234,532,000 678,640,666 54,765,390 
      cumulative distributions to stockholders
    -2,583,261,000 -2,504,062,000 -2,440,621,000 -2,383,539,000 -2,337,606,000 -2,297,136,000 -2,258,874,000 -2,220,567,000 -2,158,526,000 -2,098,693,000 -2,047,360,000 -1,992,361,000 -1,945,351,000 -1,905,211,000 -1,870,058,000                           
      accumulated net income
    -729,871,000 -889,130,000 -813,522,000 -840,854,000 -794,414,000 -860,294,000 -811,944,000 -826,460,000 -926,102,000 -746,934,000 -789,896,000 -758,537,000 -797,947,000 -653,632,000 -595,041,000                           
      total stockholders’ equity
    2,128,796,000 1,659,951,000 1,703,846,000 1,361,415,000 1,316,857,000 1,161,292,000 1,247,113,000 1,271,184,000 1,236,049,000 1,282,989,000 1,215,133,000 1,112,372,000 944,147,000 972,658,000 1,021,935,000 1,143,639,000 1,143,692,000 1,108,542,000 1,027,186,000 938,304,000 892,269,000 1,312,662,000 1,285,117,000 1,137,395,000 1,220,317,000 1,139,514,000 1,095,635,000 1,419,452,000 1,586,794,000 1,658,112,000 1,836,000,000 1,950,883,000 1,867,774,000 1,901,228,000 2,708,798 2,307,775,000  1,358,090,000 1,206,907,000 626,605,627 54,319,364 
      total liabilities and stockholders’ equity
    19,357,246,000 16,240,716,000 15,496,894,000 13,547,953,000 13,404,485,000 10,052,384,000 12,208,298,000 12,344,395,000 13,914,195,000 12,539,120,000 13,249,330,000 9,437,047,000 10,915,258,000 8,856,969,000 8,706,889,000 5,277,307,000 4,987,888,000 5,137,399,000 5,349,500,000 5,524,486,000 5,944,501,000 8,578,199,000 8,453,722,000 8,142,399,000 8,855,002,000 9,538,425,000 11,344,034,000 14,396,404,000 15,123,693,000 15,879,802,000 17,517,812,000 17,624,750,000 17,745,508,000 15,732,517,000 27,752,816 20,878,878,000  13,906,493,000 12,812,634,000 6,207,746,751 507,162,530 
      liabilities:
                                             
      stockholders’ equity:
                                             
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,864 shares and 6,847 shares issued and outstanding (25.00 per share liquidation preference) at june 30, 2025 and december 31, 2024, respectively
     7,000                                        
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,864 shares and 6,847 shares issued and outstanding (25.00 per share liquidation preference) at march 31, 2025 and december 31, 2024, respectively
      7,000                                       
      investments in securities, at fair value:
                                             
      agency securities (including pledged securities of 11,796,858 (5,733,374 with buckler) and 10,599,340 (5,400,138 with buckler), respectively
       12,439,414,000                                      
      accrued interest payable - repurchase agreements
       32,090,000                                      
      accrued interest payable - u.s. treasury securities sold short
       3,801,000                                      
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,847 shares issued and outstanding (171,175 aggregate liquidation preference).
       7,000                                      
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,847 shares issued and outstanding
        7,000 7,000 7,000  7,000 7,000 7,000  7,000 7,000 7,000                           
      agency securities (including pledged securities of 10,599,340 (5,400,138 with buckler) and 7,249,039 (3,920,706 with buckler), respectively
           11,159,754,000                                  
      subordinated loan to buckler
               105,000,000 105,000,000 105,000,000 105,000,000 105,000,000 105,000,000 105,000,000 105,000,000 105,000,000 105,000,000                     
      obligations to return securities received as collateral, at fair value (including 0 and 100,531 with buckler respectively
           350,273,000                                  
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,847 shares issued and outstanding (171,175 aggregate liquidation preference) at december 31, 2023 and december 31, 2022.
           7,000                                  
      accumulated other comprehensive loss
                           -11,866,000       -45,228,000  -144,184,000         
      cash
            133,459,000 163,746,000 135,445,000 87,284,000 290,797,000 209,135,000 316,852,000 337,664,000 126,094,000 500,321,000 277,554,000 167,671,000 250,942,000 299,940,000 412,133,000 194,459,000 401,825,000 389,358,000 243,294,000 276,489,000 363,212,000 473,826,000 542,789,000 433,149,000 588,832,000    727,306,000 326,736,000 264,750,000 252,372,445 21,887,268 
      agency securities (including pledged securities of 7,249,039 (3,920,706 with buckler) and 3,995,804 (2,036,385 with buckler), respectively
               8,198,591,000                              
      preferred stock, 0.001 par value, 50,000 shares authorized;7.00% series c cumulative preferred stock; 6,847 shares issued and outstanding (171,175 aggregate liquidation preference) at december 31, 2022 and december 31, 2021.
               7,000                              
      accumulated other comprehensive income
               -11,527,000 -14,615,000 -6,215,000 28,435,000 106,973,000 123,954,000 144,639,000 136,797,000 179,031,000 200,197,000 25,181,000 14,114,000  165,271,000 175,217,000 122,719,000 88,033,000 -49,210,000 167,541,000  66,415,000  -190,480,000 31,995 230,564,000 402,650,000 167,650,000 54,054,000 48,747,904 2,981,910 
      preferred stock, 0.001 par value, 50,000 shares authorized;
                                             
      7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at december 31, 2021 and december 31, 2020, respectively.
                   7,000                          
      accumulated deficit
                   -2,366,562,000 -2,314,879,000 -2,320,405,000 -2,225,038,000 -2,273,822,000 -2,333,272,000 -1,406,148,000 -1,406,384,000 -1,411,226,000 -1,505,020,000 -1,595,541,000 -1,586,711,000 -1,341,357,000 -1,072,984,000 -1,224,829,000 -852,126,000 -848,544,000 -720,676,000 -643,138,000 -129,334 -149,298,000 -180,430,000 -150,152,000 -81,857,000 -100,878,380 -3,435,350 
      7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at september 30, 2021 and december 31, 2020, respectively
                    7,000                         
      7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at june 30, 2021 and december 31. 2020, respectively
                     7,000                        
      7.00% series c cumulative preferred stock; 6,501 and 5,347 shares issued and outstanding (162,525 and 133,675 aggregate liquidation preference) at march 31, 2021 and december 31. 2020, respectively
                      6,000                       
      credit risk and non-agency securities
                                             
      7.875% series b cumulative preferred stock; 8,383 shares issued and outstanding (209,583 aggregate liquidation preference) at december 31, 2019
                                             
      7.00% series c cumulative preferred stock; 5,347 issued and outstanding (133,675 aggregate liquidation preference) at december 31, 2020
                       5,000                      
      7.00% series c cumulative preferred stock; 5,303 shares issued and outstanding (132,588 aggregate liquidation preference) at september 30, 2020
                        5,000                     
      agency securities, available for sale, at fair value
                         7,093,705,000 6,906,293,000 6,135,117,000 7,041,228,000 7,742,276,000 10,474,010,000 13,636,947,000 13,795,986,000 15,050,439,000 13,669,810,000 16,962,134,000 16,479,734,000 14,648,178,000 24,339,169 19,096,562,000 22,114,875,000 13,328,514,000 12,137,554,000 5,393,674,681  
      credit risk and non-agency securities, trading, at fair value
                         966,516,000                    
      interest-only securities, trading, at fair value
                         27,246,000 28,627,000 28,573,000 95,918,000 32,450,000                
      subordinated loans due from buckler securities llc
                         105,000,000                    
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding
                         2,000 2,000 2,000 2,000 2,000 2,000               
      7.875% series b cumulative preferred stock; 5,960 and 5,650 shares issued and outstanding at september 30, 2017 and december 31, 2016
                         6,000                    
      non-agency securities, trading, at fair value
                          998,204,000 1,069,438,000 1,001,319,000 916,571,000 285,696,000               
      subordinated loan due from buckler securities llc
                          25,000,000                   
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding
                          6,000 6,000 6,000 6,000 6,000               
      principal payments receivable
                               26,000 398,000 24,000 487,000 108,000 39,000 70,000 9,381 16,037,000 10,799,000 9,190,000 6,948,000 12,492,637 1,778,381 
      prepaid and other assets
                               4,775,000 1,123,000 1,540,000 1,345,000 447,000 790,000 852,000 559 404,000 742,000 823,000 357,000 439,729 114,802 
      accrued interest payable
                               3,930,000 5,050,000 5,498,000   6,041,000 6,629,000 10,302 10,064,000 9,302,000 3,373,000 2,113,000 2,154,215  
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at september 30, 2015 and december 31, 2014
                               2,000              
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at september 30, 2015 and december 31, 2014
                               6,000              
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at june 30, 2015 and december 31, 2014
                                2,000             
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at june 30, 2015 and december 31, 2014
                                6,000             
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at march 31, 2015 and december 31, 2014
                                 2,000            
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at march 31, 2015 and december 31, 2014
                                 6,000            
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at september 30, 2014 and december 31, 2013
                                  2,000           
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at september 30, 2014 and december 31, 2013
                                  6,000           
      cash collateral posted
                                   14,134,000 23,873,000 35,917,000 230,451       
      cash collateral held
                                   128,168,000 238,852,000 387,845,000 10,155       
      8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at june 30, 2014 and december 31, 2013
                                   2,000          
      7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at june 30, 2014 and december 31, 2013
                                   6,000          
      dividends payable
                                    2,000  9,000 103,000 276,000 198,000 750,533 1,029,113 
      8.250% series a cumulative preferred stock; 2,181 and 2,181 issued and outstanding at march 31, 2014 and december 31, 2013
                                    2,000         
      7.875% series b cumulative preferred stock; 5,650 and 5,650 issued and outstanding at march 31, 2014 and december 31, 2013
                                    6,000         
      8.250% series a cumulative preferred stock; 2,181 shares and 2,006 shares issued and outstanding at december 31, 2013 and december 31, 2012
                                     2,000        
      7.875% series b cumulative preferred stock; 5,650 shares and none issued and outstanding at december 31, 2013 and december 31, 2012
                                     6,000        
      receivable for unsettled securities
                                      2,226,168 668,244,000 357,218,000  218,873,000 382,931,459  
      accounts payable and accrued expenses
                                      3,425 4,395,000 3,157,000 2,790,000 3,611,000 2,662,555 237,107 
      8.250% series a cumulative preferred stock; 2,181 and 2,006 issued and outstanding at march 31, 2013 and december 31, 2012
                                            
      7.875% series b cumulative preferred stock; 5,650 and none issued and outstanding at march 31, 2013 and december 31, 2012
                                            
      restricted cash
                                       265,552,000 237,789,000 193,086,000 138,649,000 147,198,634 3,860,176 
      payable for unsettled securities
                                        1,036,450,000 272,863,000 391,678,000 117,884,633 114,870,537 
      preferred stock, 0.001 par value, 50,000 shares authorized, 2,006 8.250% series a cumulative preferred stock issued and outstanding at december 31, 2012 and 25,000 shares authorized, none issued and outstanding at december 31, 2011
                                       2,000      
      liabilities and stockholders' equity
                                             
      stockholders' equity:
                                             
      preferred stock, 0.001 par value, 25,000,000 shares authorized, 1,785,000 8.250% series a cumulative preferred stock issued and outstanding at september 30, 2012 and none issued and outstanding at december 31, 2011
                                        2,000     
      total stockholders' equity
                                        2,442,948,000     
      total liabilities and stockholders' equity
                                        23,517,346,000     
      preferred stock, 0.001 par value, 25,000,000 shares authorized, 1,400,000 8.250% series a cumulative preferred stock issued and outstanding at june 30, 2012 and none issued and outstanding at december 31, 2011
                                         1,000    
      preferred stock, 0.001 par value, 25,000,000 shares authorized, none outstanding at march 31, 2012 and december 31, 2011
                                             
      refundable income taxes
                                            393,725 
      preferred stock, 0.001 par value, 25,000,000 shares authorized, none outstanding at december 31, 2011 and december 31, 2010
                                             
      agency securities available for sale, at fair value
                                            477,579,500 
      interest rate contracts, at fair value
                                            2,003,086 
      preferred stock, 0.001 par value, 25,000,000 shares authorized, none outstanding at june 30, 2010 and december 31, 2009
                                             
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.