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 2017-09-30 2016-09-30 2015-09-30 2014-09-30 
      
    		                        
      cash flows from operating activities:
    		                        
      net income
    		159,259,000 -75,608,000 27,332,000 -46,440,000 65,880,000 -48,350,000 14,516,000 99,642,000 -179,168,000 42,962,000 -31,359,000 39,410,000 -144,315,000 -58,591,000 -66,434,000 -20,772,000 33,982,000 -69,174,000 71,327,000 81,413,000 27,724,000 118,687,000 -221,552,000 54,093,000 
      adjustments to reconcile net income to net cash and cash collateral posted to counterparties provided by operating activities:
    		                        
      net amortization of premium on agency securities
    		-259,000 -296,000 -621,000 -533,000 -1,321,000 1,073,000 436,000 199,000 -263,000 2,330,000 1,122,000 1,576,000 3,350,000 5,978,000 7,486,000 9,693,000 10,259,000 12,380,000 15,795,000 16,400,000 10,238,000 17,351,000 28,456,000 26,227,000 
      net amortization of u.s. treasury securities
    		66,000               -19,000    0     
      gain on agency securities, trading
    		          -120,366,000         503,000     
      (gain) loss on u.s. treasury securities
    		-6,197,000 2,887,000 12,906,000    -10,922,000         193,000         
      stock based compensation
    		570,000 521,000 465,000 661,000 761,000 766,000 1,053,000 860,000 828,000 821,000 692,000 838,000 964,000 959,000 935,000 1,127,000 1,237,000 1,205,000 1,199,000 1,020,000 231,000 228,000 223,000 282,000 
      changes in operating assets and liabilities:
    		                        
      increase in accrued interest receivable
    		-16,645,000 -681,000 -9,562,000 -4,838,000 -11,258,000 9,309,000 914,000 7,655,000 -9,907,000 5,202,000 -21,424,000 1,610,000 -8,942,000 -4,338,000 -6,064,000   1,033,000 1,952,000 -8,000   2,968,000 450,000 
      increase in prepaid and other assets
    		-1,443,000 2,754,000 -2,567,000   -2,352,000 240,000   6,028,000 -4,889,000 992,000 13,000 -1,095,000 -917,000   7,998,000 -7,715,000 359,000 52,000   -910,000 
      change in derivatives, at fair value
    		-17,121,000 131,289,000 253,248,000 -232,894,000 281,648,000 867,000 -84,023,000 358,681,000 -241,616,000 -202,120,000 184,119,000 108,945,000 -311,706,000 -225,981,000 -354,525,000 -32,553,000 -65,996,000 81,658,000 -117,813,000 -56,300,000     
      increase in accrued interest payable- repurchase agreements
    		24,315,000 -14,992,000 22,575,000 7,232,000 -7,845,000 -17,181,000 23,375,000 -4,255,000 -3,230,000 -4,837,000 19,735,000 -1,114,000 14,828,000 4,418,000 20,000     336,000    1,676,000 
      increase in accrued interest payable- u.s. treasury securities sold short
    		  3,493,000 -3,493,000 3,656,000 -8,231,000 6,820,000   -5,185,000 5,242,000              
      increase in accounts payable and other accrued expenses
    		513,000 -892,000 2,470,000 -3,737,000 -2,363,000 -2,540,000 6,654,000 -2,911,000 1,184,000 152,000 1,890,000 -448,000 1,841,000 -1,536,000 3,820,000 -2,155,000 237,000 272,000 1,802,000 -1,537,000     
      net cash and cash collateral posted to counterparties provided by operating activities
    		-37,805,000 24,964,000 101,482,000 90,442,000 47,123,000 27,082,000 96,812,000 60,344,000 27,174,000 -8,921,000 54,219,000 107,418,000 90,426,000 9,945,000 -83,704,000 -12,646,000 -12,535,000 15,722,000 21,197,000      
      cash flows from investing activities:
    		                        
      purchases of agency securities
    		-4,488,332,000 -775,944,000 -2,405,583,000 -1,836,521,000 -3,738,653,000 -1,341,279,000 -422,542,000 -275,534,000 -2,753,363,000 -1,942,610,000 -5,317,154,000 -2,152,413,000 -3,822,245,000 -3,704,214,000 -1,778,122,000 -593,126,000 -203,301,000   -521,105,000 -1,863,724,000 -154,957,000 -548,611,000 -1,098,113,000 
      purchases of u.s. treasury securities
    		-504,277,000   0 0 -772,254,000 -97,003,000 -354,625,000 -491,750,000 0 -619,373,000 -827,644,000 -551,553,000 -786,656,000 -2,654,611,000 -198,968,000 -398,793,000 0 -390,126,000 0     
      principal repayments of agency securities
    		404,276,000 360,175,000 274,007,000 366,263,000 241,994,000 262,820,000 182,548,000 180,828,000 218,320,000 255,487,000 148,523,000 121,760,000 164,392,000 156,101,000 131,356,000 180,052,000 188,295,000 223,916,000 278,722,000 295,016,000 178,343,000 292,813,000 492,977,000 554,786,000 
      proceeds from sales of agency securities
    		115,485,000 992,009,000 234,204,000 567,181,000 484,464,000 3,189,974,000 347,896,000 2,039,469,000 242,657,000 2,955,588,000 1,052,878,000 2,958,331,000 1,193,322,000   79,327,000 0 496,003,000 405,050,000 42,376,000 671,909,000 543,480,000 1,076,674,000 643,641,000 
      proceeds from sales of u.s. treasury securities
    		   -1,000 0 190,743,000 859,277,000 656,289,000 0 0 613,852,000 1,305,663,000 1,133,515,000 1,462,260,000 1,470,125,000 194,867,000 194,719,000 0 390,098,000 0     
      disbursements on reverse repurchase agreements
    		-51,125,000 -1,604,500,000 -613,250,000 -1,021,188,000 -627,375,000 -1,754,761,000 -2,425,876,000         0 0 0 -391,125,000 0    -1,025,000,000 
      receipts from reverse repurchase agreements
    		569,250,000 1,599,125,000 598,750,000 1,045,876,000 603,250,000 2,368,512,000 1,667,250,000         0 0 0 391,125,000 0    2,053,661,000 
      decrease in cash collateral posted by counterparties
    		                  120,426,000      
      net cash and cash collateral posted to counterparties used in investing activities
    		   -737,311,000     -2,101,965,000 1,370,494,000 -3,926,462,000              
      cash flows from financing activities:
    		                        
      issuance of series c preferred stock, net of expenses
    		0 0 279,000             0 0 8,412,000 28,173,000 1,042,000     
      issuance of common stock, net of expenses
    		403,658,000 99,112,000 371,425,000 138,146,000 127,498,000 15,000 1,000 -31,000 195,131,000 73,812,000 181,205,000 174,153,000 167,246,000 87,711,000 46,427,000 67,484,000 49,072,000 159,264,000 52,960,000 5,689,000 8,500,000  44,000 72,000 
      proceeds from repurchase agreements
    		37,740,396,000 42,409,383,000 26,294,795,000 33,708,903,000 29,757,081,000 18,806,565,000 23,129,610,000 29,872,895,000 32,445,141,000 29,869,433,000 27,517,265,000 23,358,106,000 22,049,776,000 18,488,023,000 16,191,551,000 4,004,222,000 7,688,413,000 8,501,129,000 7,044,307,000 5,467,860,000 34,077,380,000 31,555,622,000 24,326,060,000 17,084,870,000 
      principal repayments on repurchase agreements
    		-34,511,182,000 -42,084,713,000 -24,503,333,000 -33,206,176,000 -26,618,308,000 -21,002,612,000 -23,364,903,000 -31,375,168,000 -30,574,778,000 -31,294,517,000 -23,625,686,000 -24,440,838,000 -20,492,257,000 -18,235,480,000 -13,699,584,000 -3,506,624,000 -7,899,341,000 -8,650,552,000 -7,769,582,000 -5,442,590,000 -33,147,468,000 -32,166,594,000 -25,153,282,000 -17,052,026,000 
      series c preferred stock dividends paid
    		-3,003,000 -3,003,000 -3,000,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,995,000 -2,996,000 -2,486,000 -2,320,000     
      common stock dividends paid
    		-76,183,000 -60,426,000 -54,070,000 -42,926,000 -37,466,000 -35,256,000 -35,302,000 -59,014,000 -56,838,000 -48,337,000 -52,004,000 -44,014,000 -37,145,000 -32,157,000 -29,108,000 -27,915,000 -25,461,000 -23,197,000 -20,057,000 -19,643,000 -23,548,000 -24,261,000 -42,916,000 -53,769,000 
      common stock repurchased
    		-9,916,000   0 0 0 -1,344,000 -3,559,000 1,000 -2,072,000 -4,305,000 -6,120,000 0       0   -26,944,000 0 
      net cash and cash collateral posted to counterparties provided by financing activities
    		3,543,770,000 350,322,000 2,106,096,000 594,951,000 3,225,810,000 -2,234,284,000 -274,933,000 -1,567,873,000 2,005,662,000 -1,404,677,000 4,013,480,000 -961,709,000 1,684,625,000 303,557,000 2,506,291,000     10,038,000     
      net increase in cash and cash equivalents and cash collateral posted to counterparties
    		-114,032,000 159,063,000 117,306,000 -51,918,000 9,196,000                    
      cash and cash equivalents and cash collateral posted to counterparties - beginning of period
    		0 0 146,183,000  0                    
      cash and cash equivalents and cash collateral posted to counterparties - end of period
    		-114,032,000 159,063,000 263,489,000  9,196,000                    
      supplemental disclosure:
    		                        
      cash paid during the period for interest
    		193,610,000 181,613,000 132,272,000  184,660,000 198,339,000 136,718,000  179,044,000 162,011,000 107,680,000  31,968,000 14,105,000 19,371,000  3,708,000 5,505,000 4,193,000  40,756,000 36,494,000 43,978,000 95,144,000 
      non-cash investing activities:
    		                        
      receivable for unsettled sales
    		      35,948,000  1,665,000    664,688,000 379,490,000 47,713,000    358,670,000      
      payable for unsettled purchases
    		561,155,000   483,754,000 -245,948,000 -141,632,000 -199,683,000     329,169,000 -323,852,000 328,497,000 -687,250,000  -416,772,000 -89,865,000 295,991,000      
      non-cash financing activities:
    		                        
      amounts receivable for issuance of common stock
    		              8,009,000         -12,000 
      (gain) loss on agency securities, trading
    		 -16,545,000 -208,257,000    137,749,000         31,355,000         
      decrease in accrued interest payable- u.s. treasury securities sold short
    		                        
      increase in cash collateral posted by counterparties
    		 -184,955,000 -178,400,000 141,079,000 -227,417,000 -7,165,000 67,230,000 -273,197,000 169,671,000 110,154,000 -110,089,000 -36,816,000 181,561,000 269,188,000 378,598,000 16,347,000 47,815,000        
      net cash and cash collateral posted to counterparties provided by investing activities
    		 -216,223,000 -2,090,272,000   2,136,590,000 178,780,000     664,605,000 -1,701,008,000 -405,918,000 -2,452,654,000 -321,501,000 -171,265,000 192,172,000 804,170,000 -143,109,000     
      realized loss on sale of agency securities, available for sale
    		        0 0 7,471,000              
      impairment losses on available for sale agency securities
    		                        
      loss on agency securities, trading
    		       -452,908,000 468,280,000    514,483,000 249,022,000 254,389,000    62,586,000      
      proceeds from subordinated loan due to buckler
    		                        
      cash and cash equivalents and cash collateral posted to counterparties - beginning of year
    		                        
      cash and cash equivalents and cash collateral posted to counterparties - end of year
    		                        
      cash paid during the year for interest
    		                        
      net unrealized gain on available for sale agency securities
    		       0 0 0 4,056,000         -16,091,000 11,886,000 -7,525,000 137,312,000 -124,033,000 
      gain on u.s. treasury securities
    		    21,695,000                    
      decrease in prepaid and other assets
    		                        
      proceeds from subordinated loan due from buckler
    		        0 0 105,000,000              
      amounts payable for common stock repurchased
    		                        
      net increase in cash and cash collateral posted to counterparties
    		      659,000  -69,129,000 -43,104,000 141,237,000   -92,416,000 -30,067,000   199,954,000 158,682,000 -95,960,000     
      cash and cash collateral posted to counterparties - beginning of period
    		      258,858,000  0 0 118,090,000  0 0 356,216,000  0 0 171,668,000      
      cash and cash collateral posted to counterparties - end of period
    		      259,517,000  -69,129,000 -43,104,000 259,327,000  74,043,000 -92,416,000 326,149,000  -374,112,000 199,954,000 330,350,000      
      realized (gain) loss on sale of agency securities, available for sale
    		           -49,000 0            
      loss on u.s. treasury securities
    		          11,854,000  15,951,000 33,983,000 78,387,000          
      net amortization (accretion) of u.s. treasury securities
    		              -801,000          
      credit loss expense
    		                   0     
      decrease (increase) in prepaid and other assets
    		                        
      disbursements on reverse repurchase agreements, with buckler
    		        0 -1,033,125,000 -24,678,000              
      receipts from reverse repurchase agreements, with buckler
    		        512,500,000 1,025,000,000 224,579,000              
      net accretion of u.s. treasury securities
    		         0 132,000  -224,000            
      accretion of net discount on credit risk and non-agency securities
    		                   0     
      loss on credit risk and non-agency securities
    		                   0     
      purchases of credit risk and non-agency securities
    		                   0     
      principal repayments of credit risk and non-agency securities
    		                   0     
      proceeds from sales of credit risk and non-agency securities
    		                   0     
      continued
    		                        
      redemption of series b preferred stock, net of expenses
    		                   0     
      series b preferred stock dividends paid
    		                   0 -2,816,000 -2,781,000 -2,781,000 -2,781,000 
      cash and cash collateral posted to counterparties - beginning of year
    		                        
      cash and cash collateral posted to counterparties - end of year
    		                        
      net unrealized loss on available for sale agency securities
    		           3,137,000 -12,583,000 -42,151,000 -78,538,000  -16,961,000 7,842,000 -34,880,000      
      net decrease in cash and cash collateral posted to counterparties
    		                        
      realized gain on sale of agency securities, available for sale
    		               126,000 -3,724,000 0 -7,354,000      
      loss on short sale of u.s. treasury securities
    		               0 0 0 28,000 0     
      net amortization of interest-only securities
    		                    1,198,000    
      gain on interest-only securities
    		                        
      proceeds from sales of interest-only securities
    		                        
      redemption of series a preferred stock, net of expenses
    		                        
      issuance of series b preferred stock, net of expenses
    		                        
      series a preferred stock dividends paid
    		                    -1,124,000 -1,124,000 -1,124,000 -1,125,000 
      amounts receivable for issuance of preferred stock
    		                        
      decrease in accrued interest receivable
    		                     2,077,000   
      decrease in accrued interest payable- repurchase agreements
    		                -14,000 -467,000 -610,000  2,147,000 861,000   
      net cash and cash collateral posted to counterparties used in financing activities
    		                -190,312,000 -7,940,000 -666,685,000      
      (gain) loss on interest-only securities
    		                        
      accounting standard
    		                        
      asu 2016-13, financial instruments–credit losses
    		                        
      adjustments to reconcile net income to net cash and cash collateral posted to counterparties used in operating activities:
    		                        
      net cash and cash collateral posted to counterparties used in operating activities
    		                        
      amounts receivable for issuance of preferred b stock
    		                        
      adjustments to reconcile net income to net cash from operating activities:
    		                        
      realized (gain) loss on sale of agency securities
    		                    -891,000    
      other than temporary impairment of agency securities
    		                    72,000    
      gain on credit risk and non-agency securities
    		                        
      loss on interest-only securities
    		                    183,000 1,105,000   
      bargain purchase price on acquisition of javelin
    		                     0   
      decrease in derivatives, at fair value
    		                        
      decrease in accounts payable and other accrued expenses
    		                    -849,000 641,000 2,433,000 210,000 
      net cash from operating activities
    		                    37,255,000 73,559,000 69,552,000 39,433,000 
      purchases of interest-only securities
    		                     -86,324,000   
      increase in cash collateral
    		                    1,057,000 27,513,000  -9,609,000 
      net cash from the acquisition of javelin
    		                     0   
      subordinated loans due from buckler
    		                        
      net cash from investing activities
    		                    -1,067,177,000 578,046,000 744,668,000 1,119,366,000 
      net cash from financing activities
    		                    917,729,000 -639,138,000 -900,943,000 -1,049,159,000 
      net increase in cash
    		                    -112,193,000 12,467,000  109,640,000 
      cash - beginning of period
    		                    0 0 0 0 
      cash - end of period
    		                    -112,193,000 12,467,000 -86,723,000 109,640,000 
      non-cash investing and financing activities:
    		                        
      assets at fair value:
    		                        
      agency securities, available for sale
    		                        
      credit risk and non-agency securities, trading
    		                        
      interest-only securities, trading
    		                        
      derivatives
    		                        
      liabilities at fair value:
    		                        
      accretion of net discount on non-agency securities
    		                     -747,000   
      gain on non-agency securities
    		                     -39,522,000   
      increase in derivatives, at fair value
    		                     -25,999,000  -47,645,000 
      purchases of non-agency securities
    		                     -68,186,000   
      principal repayments of non-agency securities
    		                     23,707,000   
      subordinated loan due from buckler
    		                        
      non-agency securities, trading
    		                        
      net decrease in cash
    		                        
      realized gain on sale of agency securities
    		                     -2,421,000 -69,000  
      interest-only securities income
    		                        
      increase in accrued interest payable
    		                      -1,120,000  
      increase in cash collateral posted to/by counterparties
    		                      -276,372,000  
      proceeds from short sales of u.s. treasury securities
    		                       0 
      decrease in accrued interest payable
    		                        
      (gain) loss on short sale of u.s. treasury securities
    		                       -3,086,000 
      issuance of series a preferred stock, net of expenses
    		                        
      gain on short sale of u.s. treasury securities
    		                        
      cash and cash equivalents - beginning of year
    		                        
      cash and cash equivalents - end of year
    		                        
    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.