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 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2016-09-30 2013-09-30 2012-12-31 2012-09-30 2011-12-31 2011-09-30 2010-12-31 2010-09-30 2009-12-31 2009-09-30 
      
    		                                          
      cash flows from operating activities
    		                                          
      net income
    		843,063,000 60,371,000 130,305,000 473,076,000 82,351,000 -8,833,000 465,174,000 -391,232,000 -569,084,000 161,187,000 -839,328,000 -886,814,000 -273,977,000 863,317,000 2,023,894,000 418,460,000 521,534,000 -294,848,000 1,751,134,000 878,635,000 1,015,548,000 856,234,000 -3,640,189,000 1,209,742,000 -747,169,000 -1,776,413,000 -849,251,000 -2,254,872,000 385,429,000 595,887,000 1,327,704,000 1,984,713,000 730,880,000 -1,445,755,000 1,511,142,000 315,917,000 1,266,274,000 -1,042,630,000 1,281,340,000 204,169,000 1,676,282,000 -311,865,000 
      adjustments to reconcile net income to net cash from operating activities
    		                                          
      amortization of premiums and discounts of investments
    		58,699,000 46,764,000 71,249,000 17,343,000 55,481,000 12,166,000 28,050,000 53,170,000 27,120,000 38,868,000 66,570,000 43,478,000 24,272,000 31,174,000 -11,770,000 228,451,000 242,353,000 323,266,000 -9,960,000 240,893,000 249,273,000 262,212,000 618,800,000 169,996,000 373,871,000 323,256,000 246,150,000 218,362,000 184,756,000 196,717,000 92,976,000            
      amortization of securitized debt premiums and discounts and deferred financing costs
    		-8,913,000 -6,940,000 -2,724,000 -3,548,000 1,889,000 2,946,000 2,292,000 3,100,000 4,289,000 3,629,000 2,806,000 -904,000 549,000 -1,304,000 -3,074,000 -2,491,000 140,000 -681,000 -3,588,000 -4,313,000 -2,709,000 -1,673,000 -2,881,000 -397,000 -437,000 -7,393,000 -3,627,000 -4,430,000 1,193,000 -610,000 408,000            
      depreciation, amortization and other noncash expenses
    		7,794,000 9,079,000 9,217,000 7,176,000 7,046,000 9,250,000 6,884,000 5,458,000 7,316,000 6,982,000 5,050,000 4,627,000 4,734,000 6,399,000 4,746,000 3,552,000 3,366,000 9,310,000 8,408,000 13,176,000 11,286,000 9,211,000 7,684,000 7,452,000 7,569,000 9,466,000 7,072,000 8,525,000 50,932,000 7,085,000 5,822,000            
      net (gains) losses on investments and derivatives
    		-277,728,000 490,932,000 358,600,000 51,649,000 347,780,000 436,630,000 -52,868,000 786,544,000 980,373,000 258,916,000 1,284,746,000 1,327,261,000 726,382,000 -399,435,000 -1,544,765,000 -178,927,000 -230,178,000 494,891,000 -1,353,321,000 -521,084,000 -460,471,000 -398,584,000 3,749,018,000 -734,660,000 344,288,000 1,787,311,000 458,086,000 1,816,594,000 -472,086,000 -329,288,000 -878,547,000            
      income from unconsolidated joint ventures
    		-4,100,000 -849,000 4,376,000 -2,671,000 -502,000 -5,998,000 3,381,000 11,778,000 -1,219,000 387,000 -676,000 531,000 -1,607,000 -1,994,000 -8,384,000 6,292,000 0 6,914,000 -1,025,000 9,668,000 -1,247,000 -979,000 -370,000 3,543,000 669,000 721,000 1,960,000 -3,601,000 1,374,000 4,449,000 618,000            
      payments on purchases of loans held for sale
    		-49,497,000 -65,978,000 -38,611,000 -20,328,000 -17,753,000 -17,582,000 -2,643,000         0 -1,817,000 -48,617,000 -969,000 -26,978,000 -30,568,000 -35,467,000 -54,820,000 -54,096,000 -61,748,000 -85,434,000 -49,070,000 -36,230,000 -81,291,000 -73,160,000 -37,190,000            
      proceeds from sales and repayments of loans held for sale
    		38,951,000 72,167,000 42,072,000 10,888,000 20,695,000   241,000 589,000 111,000 636,000 651,000 2,327,000 625,000 994,000 1,970,000 3,059,000 81,924,000 3,067,000 29,044,000 44,121,000 33,887,000 61,664,000 62,284,000 106,574,000 69,018,000 44,817,000 33,453,000               
      proceeds from u.s. treasury securities
    		2,389,752,000 0 2,465,677,000 2,529,831,000 2,043,888,000 1,945,858,000 2,093,527,000                           9,777,177,000 50,942,458,000 -2,203,295,000 34,471,443,000 -9,977,961,000     
      payments on u.s. treasury securities
    		-2,491,666,000 0 -2,486,009,000 -1,975,981,000 -2,062,934,000 -2,024,594,000 -2,093,489,000                           -10,797,908,000 -51,338,702,000 4,346,722,000 -34,207,382,000 10,408,028,000     
      net receipts (payments) on derivatives
    		-416,551,000 -419,780,000 -899,210,000 1,746,623,000 -1,930,549,000 136,544,000 826,716,000 -2,092,880,000 1,563,533,000 742,504,000 -1,075,189,000 844,766,000 1,159,859,000 783,030,000 856,299,000 324,683,000 1,730,000 171,347,000 435,107,000 252,750,000 327,256,000 142,796,000 -2,680,933,000 621,536,000 -509,552,000 -1,418,397,000 -633,221,000 -1,039,012,000               
      net change in
    		                                          
      other assets
    		14,000,000 -11,056,000 -26,196,000 -53,096,000 -1,579,000 -4,331,000 -2,877,000 -20,117,000 -103,708,000 23,622,000 -36,601,000 -4,926,000 36,230,000 -37,475,000 -5,266,000 8,603,000 144,317,000 -90,640,000 -31,236,000 -41,967,000 53,626,000 132,483,000 105,636,000 5,667,000 -24,840,000 86,333,000 -107,040,000 -1,906,000 198,466,000 -56,095,000 -42,361,000 14,085,000 -7,147,000 10,181,000 -6,017,000 -11,298,000 1,537,000 -69,535,000     
      interest receivable
    		-129,749,000 6,248,000 230,790,000 -21,779,000 -129,122,000 -49,445,000 354,997,000 -64,495,000 -214,551,000 -169,975,000 -136,796,000 -374,895,000 -9,590,000 -11,059,000 -8,069,000 -1,955,000 16,204,000 9,291,000 9,386,000 11,155,000 8,925,000 23,899,000 115,341,000 7,008,000 -17,676,000 -45,792,000 -29,491,000 -11,095,000               
      interest payable
    		28,835,000 -29,613,000 17,541,000 -8,080,000 -92,709,000 18,701,000 62,468,000 89,853,000 57,464,000 22,225,000 -206,885,000 295,038,000 -61,720,000 11,092,000 -10,657,000 -18,407,000 -65,018,000 72,835,000 -89,000,000 35,778,000 -25,605,000 -80,362,000 -215,030,000 -89,462,000 -125,530,000 266,936,000 -146,537,000 171,324,000          -4,034,000     
      other liabilities
    		21,204,000 29,395,000 -33,343,000 57,372,000 3,240,000 8,393,000 6,277,000 -18,506,000 118,892,000 48,183,000 -83,086,000 -1,067,504,000 845,198,000 -553,709,000 734,238,000 29,475,000 12,675,000 -211,243,000 170,818,000 -1,101,000 31,915,000 -82,759,000 20,075,000 -2,356,000 7,696,000 8,062,000 18,436,000 -48,773,000               
      net cash from operating activities
    		24,094,000 180,740,000 -156,266,000 2,808,475,000 -1,672,778,000 477,073,000 1,697,889,000 378,522,000 1,871,014,000 1,136,639,000 -1,018,972,000 201,580,000 2,453,980,000 687,703,000 2,029,148,000 861,558,000 644,238,000 506,493,000 1,064,550,000 867,790,000 1,000,469,000 682,970,000 -2,023,262,000 1,195,836,000 -709,303,000 -743,993,000 -942,097,000 -401,139,000 733,107,000 957,134,000 1,332,916,000 6,099,100,000 -1,032,713,000 4,631,724,000 4,041,515,000 4,903,674,000 752,310,000 4,244,147,000 10,334,052,000 -3,838,723,000 6,312,721,000 1,594,366,000 
      cash flows from investing activities
    		                                          
      payments on purchases of securities
    		-13,109,997,000 -9,191,748,000 -4,368,706,000 -9,228,872,000 -6,273,874,000 -8,922,381,000 -7,788,513,000 -11,076,067,000 -11,892,620,000 -11,734,953,000 -6,332,698,000 -14,622,852,000 -16,428,975,000 -9,361,339,000 -5,061,300,000 -4,009,879,000 -5,753,141,000 -7,103,317,000 -5,478,414,000 -7,706,618,000 -7,285,498,000 -6,157,836,000 -11,526,904,000                    
      proceeds from sales of securities
    		2,239,280,000 2,151,366,000 7,337,167,000 3,851,495,000 2,318,242,000 5,452,850,000 9,483,792,000 12,554,195,000 6,204,086,000 7,816,095,000 4,685,607,000 8,311,065,000 8,354,332,000 5,997,363,000 2,393,169,000 523,325,000 4,796,349,000 3,497,883,000 2,852,764,000 2,344,740,000 3,488,614,000 5,674,310,000 41,132,114,000                    
      principal payments on securities
    		2,036,214,000 2,147,007,000 1,672,398,000 1,959,120,000 1,825,109,000 1,625,437,000 1,424,656,000 1,446,281,000 1,694,902,000 1,662,686,000 1,349,348,000 1,676,167,000 2,127,132,000 2,690,381,000 3,047,356,000 4,104,495,000 4,409,521,000 5,242,927,000 4,986,008,000 5,179,316,000 5,063,405,000 4,428,175,000 4,900,580,000                    
      payments on purchases and origination of loans
    		-4,710,108,000 -4,076,834,000 -3,875,537,000 -3,935,261,000 -3,325,911,000 -2,843,685,000 -3,134,429,000 -2,056,861,000 -1,500,678,000 -1,010,797,000 -935,360,000 -972,008,000 -1,183,564,000 -1,787,210,000 -2,194,285,000 -3,004,775,000 -1,956,049,000 -2,102,979,000 -651,397,000 -598,736,000 -70,047,000 -439,957,000 -1,148,574,000                    
      proceeds from sales of loans
    		404,658,000 437,994,000 378,893,000 271,356,000 322,069,000       11,371,000 86,066,000 1,828,715,000 4,215,000  762,577,000 70,399,000 46,171,000 40,986,000 72,633,000 239,400,000 271,007,000                    
      principal payments on loans
    		1,669,663,000 1,256,886,000 900,695,000 987,623,000 696,858,000 564,556,000 363,741,000 312,580,000 307,390,000 278,456,000 188,082,000 205,290,000 283,439,000 467,953,000 605,626,000 594,539,000 517,605,000 815,317,000 683,451,000 663,641,000 518,290,000 569,185,000 471,384,000                    
      payments on purchases of msr
    		-284,052,000 -38,821,000 -387,147,000 -161,699,000 -64,760,000 -120,898,000 -515,760,000 1,858,000 -185,318,000 -177,521,000 -35,825,000 -142,582,000 -182,795,000 -262,960,000 -421,012,000 -56,886,000 -317,166,000                          
      proceeds from sales of msr
    		0 0 1,871,000 0 65,201,000       9,000 11,000   81,799,000 0                          
      payments on purchases of interests in msr
    		           0 0 0 -4,913,000 -12,073,000 -5,936,000                          
      proceeds from reverse repurchase agreements
    		173,721,057,000 164,585,339,000 172,207,075,000 166,805,861,000 146,672,133,000 146,248,503,000 149,589,734,000 81,815,211,000 13,900,000,000 14,450,024,000 18,450,000,000 6,050,000,000 10,700,000,000 5,650,024,000 2,100,000,000 1,550,000,000 3,100,000,000 3,450,000,000 8,634,313,000 12,700,000,000 9,000,000,000 9,950,000,000 27,150,000,000 19,900,000,000 18,893,243,000 31,439,206,000 28,107,306,000 15,301,574,000 28,768,202,000 21,198,674,000 20,050,112,000          5,314,428,000  
      payments on reverse repurchase agreements
    		-173,756,061,000 -164,585,339,000 -172,207,075,000 -166,805,861,000 -146,672,133,000 -146,248,503,000 -149,589,734,000 -81,815,211,000 -13,900,000,000 -14,450,024,000 -18,450,000,000 -6,050,000,000 -10,700,000,000 -5,650,024,000 -2,100,000,000 -1,550,000,000 -3,100,000,000 -3,450,000,000 -8,634,313,000 -12,700,000,000 -9,000,000,000 -9,950,000,000 -27,150,000,000 -19,900,000,000 -18,893,243,000 -30,915,757,000 -27,980,715,000 -14,716,910,000 -28,804,893,000 -21,257,977,000 -20,250,571,000          -4,981,720,000 -4,497,341,000 
      distributions in excess of cumulative earnings from unconsolidated joint ventures
    		1,756,000 1,513,000 3,400,000 6,139,000 8,075,000           0 0 0 290,000 949,000 309,000 315,000 6,017,000 1,180,000 1,719,000 15,000 241,000 20,794,000 1,301,000 1,320,000 2,813,000 3,843,000 2,038,000          
      net cash from investing activities
    		-11,819,830,000 -7,312,637,000 1,663,034,000 -6,250,099,000 -4,428,991,000 -4,139,227,000 -166,513,000 1,203,228,000 -5,372,238,000 -3,166,034,000 -1,080,846,000 -5,533,540,000 -6,944,354,000 -418,032,000 -1,631,144,000 -1,445,031,000 3,571,860,000 330,058,000 2,442,392,000 149,928,000 1,779,657,000 4,317,724,000 34,104,465,000 -876,122,000 3,250,321,000 -15,111,879,000 -7,903,991,000 -488,945,000 -1,493,063,000 2,019,530,000 -945,942,000 -16,873,159,000 2,148,916,000 754,634,000 -15,372,887,000 985,338,000 -16,993,114,000 -8,286,720,000 -8,386,892,000 -2,016,748,000 -3,057,080,000 -2,133,194,000 
      cash flows from financing activities
    		                                          
      proceeds from repurchase agreements and other secured financing
    		1,938,856,194,000 1,651,239,617,000 1,549,426,696,000 1,687,870,197,000 1,585,622,278,000 1,357,549,673,000 1,373,554,795,000 1,357,238,976,000 1,474,339,157,000 1,350,495,456,000 1,168,976,892,000 989,939,457,000 731,742,219,000 1,009,646,000,000 839,715,390,000 586,207,478,000 572,660,183,000 595,230,000,000 534,607,127,000 422,636,853,000 442,774,769,000 784,147,754,000 1,126,771,986,000 1,194,796,010,000 1,468,012,520,000 1,396,454,751,000 1,411,469,975,000 1,250,972,114,000 1,138,519,583,000 1,428,074,669,000 1,299,589,620,000            
      payments on repurchase agreements and other secured financing
    		-1,930,264,005,000 -1,646,232,404,000 -1,553,306,159,000 -1,686,368,985,000 -1,582,072,563,000 -1,355,734,121,000 -1,376,683,890,000 -1,359,727,829,000 -1,471,289,965,000 -1,349,597,270,000 -1,167,496,471,000 -984,581,830,000 -728,741,938,000 -1,011,784,075,000 -841,845,524,000 -586,739,556,000 -577,856,394,000 -596,246,063,000 -537,932,992,000  -445,982,543,000 -789,830,771,000 -1,158,603,746,000                    
      proceeds from issuances of securitized debt
    		3,916,656,000 3,389,556,000 2,914,309,000 2,093,832,000 3,078,160,000 2,661,281,000 2,496,810,000 1,364,150,000 761,095,000 1,347,588,000 1,007,971,000 596,497,000 930,200,000 1,653,114,000 2,293,500,000 1,713,947,000 1,035,915,000 717,786,000 251,379,000 0 961,449,000 29,860,000 1,394,065,000 1,413,699,000 415,776,000 709,315,000 905,265,000                
      principal payments on securitized debt
    		-1,252,416,000 -1,138,520,000 -819,591,000 -915,995,000 -634,151,000 -520,166,000 -323,854,000 -270,434,000 -276,686,000 -238,060,000 -158,983,000 -174,135,000 -216,485,000 -444,627,000 -398,843,000 -445,829,000 -407,272,000 -505,871,000 -357,224,000  -319,378,000 -264,377,000 -276,551,000                    
      payments on purchases of securitized debt
    		-256,268,000 0 -4,350,000     0 0 -530,000 -1,974,000 0                               
      payment of deferred financing cost
    		-616,000 -3,294,000 -7,011,000 -1,476,000 -1,452,000 -140,000 -1,191,000 -3,798,000            0 0   -7,006,000 -698,000 -2,743,000 -1,781,000      0          
      proceeds from participations issued
    		1,989,047,000 1,700,840,000 1,771,940,000 1,150,391,000 705,408,000 1,278,094,000 1,001,297,000 824,825,000 650,194,000 296,324,000 236,121,000 270,973,000 420,281,000 540,451,000 676,499,000 811,021,000 536,936,000                          
      payments on repurchases of participations issued
    		-1,714,262,000 -1,870,635,000 -1,188,368,000 -449,967,000 -1,390,827,000 -1,281,153,000 -933,543,000 -513,748,000 -335,289,000 -464,670,000 -360,943,000 -177,023,000 -328,259,000 -580,041,000 -888,343,000 -383,702,000 -211,045,000 -183,394,000 -40,434,000                        
      principal payments on participations issued
    		-24,690,000 -29,719,000 -13,110,000 -4,917,000 -13,076,000 -12,385,000 -15,344,000 -21,769,000 -9,912,000 -9,786,000 -11,168,000 -10,471,000 -8,397,000 -14,474,000 -17,370,000 -12,954,000 -6,405,000 -2,722,000 -1,293,000                        
      net contributions (distributions) from (to) noncontrolling interests
    		-18,000,000 0 -4,000,000 0 -999,000 -5,450,000 -5,000,000 -35,800,000 8,400,000 1,000 13,000,000 11,999,000 21,000,000 15,000,000 24,390,000 2,455,000 -4,286,000 9,479,000 -2,013,000 -405,000 8,455,000 0 -288,000 -149,000 -208,000 -418,000 -361,000 -191,000               
      net proceeds from stock offerings, direct purchases and dividend reinvestments
    		1,089,032,000 760,781,000 495,507,000 397,966,000 1,149,451,000 10,947,000 -48,000 93,593,000 17,509,000 -118,000 562,709,000 8,921,000 1,671,480,000 949,495,000 6,104,000 82,881,000 48,908,000   100,000 670,000   0 41,146,000 468,170,000 1,319,709,000 666,000 1,070,646,000 48,963,000 412,081,000            
      settlement of stock-based awards in satisfaction of withholding tax requirements
    		0 -14,000 -13,922,000 0 0 -164,000 -5,993,000 0 -851,000 0 -5,810,000 -69,000 -989,000 -1,073,000 -1,977,000 -57,000 -1,781,000 -396,000 -596,000                        
      dividends paid
    		-487,085,000 -458,994,000 -413,208,000 -401,554,000 -367,409,000 -362,524,000 -362,193,000 -358,890,000 -357,964,000 -356,841,000 -444,067,000 -441,816,000 -380,994,000 -348,359,000 -348,080,000 -345,924,000 -344,653,000 -334,601,000 -334,543,000 -344,200,000 -345,241,000 -393,143,000 -393,066,000 -395,025,000 -400,602,000 -466,570,000 -426,819,000 -135,497,000 -644,473,000 -379,274,000 -381,642,000 -425,494,000 -333,459,000 11,293,000 -1,604,607,000 -4,356,000 -1,497,348,000 -41,180,000 -1,214,188,000 -16,745,000 -938,187,000 -54,443,000 
      net cash from financing activities
    		11,833,587,000 7,357,214,000 -1,161,267,000 3,369,492,000 6,074,820,000 3,583,892,000 -1,278,154,000 -1,410,724,000 3,505,474,000 1,472,094,000 2,317,277,000 5,442,503,000 5,102,613,000 -371,579,000 -784,254,000 879,263,000 -4,550,254,000 -578,888,000 -3,627,852,000 -1,013,997,000 -2,934,054,000 -6,430,305,000 -31,108,411,000 -262,906,000 -2,729,408,000 16,315,578,000 8,632,944,000 1,543,086,000 707,374,000 -2,825,610,000 -109,288,000 9,327,972,000 -1,469,265,000 -3,852,160,000 9,612,483,000 -4,540,145,000 13,880,354,000 7,069,763,000    591,691,000 
      net increase in cash and cash equivalents
    		37,851,000 225,317,000 345,501,000 -72,132,000 -26,949,000 -78,262,000 253,222,000 171,026,000 4,250,000 -557,301,000 217,459,000 110,543,000 612,239,000 -101,908,000 -386,250,000 295,790,000 -334,156,000 257,663,000 -120,910,000 3,721,000 -153,928,000 -1,429,611,000 972,792,000 56,808,000 -188,390,000 459,706,000 -213,144,000 653,002,000 -52,582,000 151,054,000 277,686,000 -1,446,087,000 -353,062,000 1,534,198,000 -1,718,889,000 1,348,867,000 -2,360,450,000 3,027,190,000 -1,183,449,000 539,483,000 224,672,000 52,863,000 
      cash and cash equivalents including cash pledged as collateral, beginning of period
    		0 0 1,488,027,000 0 0 0 1,412,148,000 0 0 0 1,576,714,000 0 0 0 1,342,090,000 0 0 0 1,243,703,000 0 0 0 1,850,729,000 0 0 0 1,735,749,000 0 0 0 706,589,000            
      cash and cash equivalents including cash pledged as collateral, end of period
    		37,851,000 225,317,000 1,833,528,000 -72,132,000 -26,949,000 -78,262,000 1,665,370,000 171,026,000 4,250,000 -557,301,000 1,794,173,000 110,543,000 612,239,000 -101,908,000 955,840,000 295,790,000 -334,156,000 257,663,000 1,122,793,000 3,721,000 -153,928,000 -1,429,611,000 2,823,521,000 56,808,000 -188,390,000 459,706,000 1,522,605,000 653,002,000 -52,582,000 151,054,000 984,275,000            
      supplemental disclosure of cash flow information
    		                                          
      interest received
    		1,081,655,000 983,941,000 1,025,159,000 995,256,000 964,257,000 907,981,000 915,491,000 877,577,000 850,881,000 803,900,000 746,161,000 707,913,000 606,975,000 578,763,000 565,361,000 593,527,000 629,477,000 694,477,000 783,900,000 755,228,000 -428,393,000 2,094,832,000 1,260,159,000 1,228,029,000 1,287,135,000 1,216,760,000 1,079,294,000 1,047,943,000 966,604,000 862,397,000 1,017,534,000 1,249,428,000 741,804,000 -136,090,000 3,514,926,000 17,306,000       
      interest paid
    		894,805,000 870,125,000 799,833,000 924,157,000 1,101,936,000 891,687,000 913,729,000 877,951,000 893,670,000 851,603,000 928,649,000 409,707,000 286,528,000 113,456,000 57,138,000 40,369,000 44,923,000 67,924,000 116,028,000 116,774,000 -448,505,000 922,735,000 575,973,000 861,105,000 763,715,000 644,019,000 633,805,000 567,503,000 419,198,000 419,198,000 320,988,000 546,837,000 158,975,000 -5,088,000 421,263,000 58,125,000 337,334,000 -201,889,000 848,929,000 18,875,000 1,093,541,000 -19,645,000 
      net interest received (paid) on interest rate swaps
    		186,950,000 277,582,000 448,039,000 296,943,000 265,562,000 328,020,000 759,440,000 414,902,000 273,613,000 315,995,000 302,041,000 72,923,000 18,596,000 -8,980,000 -66,918,000                            
      taxes received
    		-150,000 34,000 -237,000 -561,000 -470,000 -421,000 -236,000 -186,000 1,944,000 -515,000 -139,000 1,678,000 -509,000 -984,000 -677,000 -4,577,000 447,000   -36,000 948,000 551,000 52,000 2,010,000 70,000 234,000 -30,000                
      noncash investing and financing activities
    		                                          
      receivable for unsettled trades
    		-948,980,000 1,132,373,000 2,523,000 1,435,106,000 445,682,000 -620,707,000 941,366,000 1,662,658,000 260,124,000 108,346,000 679,096,000 -1,578,804,000 1,719,668,000 27,002,000 407,225,000 -39,826,000 28,146,000 -130,582,000 144,918,000 -38,288,000 -692,882,000 -259,771,000 1,006,853,000 -188,437,000 187,907,000 -1,568,929,000 1,574,251,000 -1,198,061,000               
      payable for unsettled trades
    		1,065,752,000 -766,248,000 2,304,774,000 -1,577,004,000 789,015,000 -1,460,527,000 2,556,798,000 1,035,070,000 -2,116,996,000 1,072,281,000 3,259,034,000 -8,175,800,000 7,337,686,000 3,392,000 1,992,568,000 -423,632,000 417,135,000 -915,675,000 1,070,080,000 -291,932,000 -946,734,000 1,199,183,000 923,552,000 217,761,000 -375,158,000 -4,142,592,000 4,763,376,000 -1,922,392,000               
      net change in unrealized gains on available-for-sale securities, net of reclassification adjustment
    		115,659,000 47,356,000 230,280,000 -305,479,000 444,724,000 124,991,000 53,482,000 1,359,376,000 -312,245,000 168,083,000 1,158,282,000 1,722,540,000 -1,120,510,000 -1,845,444,000 -3,423,892,000 -680,228,000 -141,637,000 -221,956,000 -1,372,104,000 -214,721,000 -253,018,000 720,703,000 983,180,000 -175,624,000 948,812,000 1,684,379,000 1,660,489,000 1,843,091,000 -388,509,000 -434,367,000 -1,874,060,000 -1,537,400,000 2,631,000 3,126,950,000         
      dividends declared, not yet paid
    		27,284,000 27,816,000 421,637,000 13,201,000 37,069,000 376,000 325,286,000 3,423,000 598,000 8,000 321,023,000 351,000 57,735,000 32,604,000 321,423,000 2,156,000 1,272,000 10,043,000 307,671,000 -1,031,000 -1,042,000 -47,920,000 357,606,000 -1,964,000 -4,575,000 -70,365,000 434,431,000 291,318,000 -246,489,000 1,403,000 347,897,000 78,765,000 -8,368,000 -65,331,000 -55,083,000 -48,661,000 -28,946,000 41,782,000 -17,816,000 41,400,000 33,440,000 54,799,000 
      derecognition of assets of consolidated vies
    		               23,681,000 2,075,590,000   0                       
      derecognition of securitized debt of consolidated vies
    		               10,681,000 1,602,618,000   0                       
      see notes to consolidated financial statements.
    		                                          
      business divestiture-related (gains) losses
    		           13,013,000 2,936,000 23,955,000 354,000                            
      loan loss provision
    		       0 0 0 -219,000 7,258,000 -1,613,000 -26,913,000 608,000 194,000 -6,134,000 494,000 -139,620,000 1,497,000 -21,993,000 68,751,000 99,326,000 7,362,000 3,504,000 0 5,703,000                
      investments in real estate
    		               -514,000 0 -1,069,000 -746,000 -1,327,000 -5,303,000 339,000 -1,159,000                    
      proceeds from sales of real estate
    		               0 0 49,645,000 4,265,000     18,294,000 0 0 6,661,000                
      proceeds from sale of equity securities
    		               0 0                          
      net proceeds from business divestiture
    		               340,000                           
      net principal receipts (payments) on mortgages payable
    		               -1,218,000 -360,000 -329,000 -330,000 -83,530,000 -823,000                      
      dividends received
    		               0 0 18,000 33,000 158,000 -1,695,000 4,064,000 2,116,000 2,116,000 2,093,000 2,070,000 2,116,000 2,116,000 2,093,000   3,985,000  -2,383,000 22,901,000 -900,000       
      derecognition of mortgages payable
    		                                          
      cash acquired (paid) in asset acquisition
    		                                          
      redemptions of preferred stock
    		                       0 -175,000,000                  
      net payments on share repurchase
    		                                          
      payments from relief of securitized debt
    		                                          
      net (gains) losses on disposals of investments and other
    		                                          
      net (gains) losses on business divestitures
    		               16,514,000 14,009,000 -1,527,000 249,563,000                        
      proceeds from sales and maturities of loans
    		                                          
      net (gains) losses on disposal of investments and other
    		                -12,002,000 -16,223,000 65,786,000  -198,888,000 -246,679,000 -206,583,000                    
      cash acquired in asset acquisition
    		                    -2,746,000                      
      net payment on share repurchase
    		                    -31,412,000            0          
      net interest paid on interest rate swaps
    		                121,043,000 3,390,000 133,628,000  -67,941,000 186,253,000 171,965,000  93,939,000 -224,771,000 34,663,000    39,206,000 -45,563,000 134,103,000 -9,361,000 668,501,000 3,417,000 646,990,000      
      derecognition of mortage payable of consolidated vies
    		                                          
      proceeds from partcipations issued
    		                  183,067,000                        
      payments on purchases of msrs
    		                           0               
      proceeds from sales of msrs
    		                                          
      principal payments on repurchase agreements and other secured financing
    		                       -1,195,747,716,000 -1,470,173,616,000 -1,379,844,314,000 -1,404,070,367,000 -1,248,854,501,000 -1,138,420,966,000 -1,430,399,033,000 -1,299,277,944,000            
      principal repayments on securitized debt
    		                       -253,645,000 -280,499,000 -935,860,000 -561,955,000 -769,797,000 -126,201,000 -170,562,000 -317,773,000 -749,903,000 -109,619,000          
      net payments on share repurchases
    		                                          
      noncash investing activities
    		                                          
      noncash financing activities
    		                                          
      principal payments on mortgages payable
    		                      -811,000 -804,000 -12,923,000 -11,753,000 -722,000 -667,000    5,135,000 -101,000          
      net (gains) losses on disposals of investments
    		                       -17,783,000 -66,522,000 38,333,000 93,916,000 747,026,000 324,294,000 66,117,000 -13,468,000            
      due to / from brokers
    		                                 -635,000         
      payments on purchases of residential securities
    		                       -11,503,683,000 -7,716,784,000 -25,200,304,000 -18,374,100,000 -27,570,938,000               
      proceeds from sales of residential securities
    		                       5,893,320,000 6,523,201,000 5,274,372,000 7,822,334,000 23,698,153,000               
      principal payments on residential securities
    		                       5,992,526,000 5,100,792,000 3,719,447,000 2,343,383,000 2,669,444,000               
      payments on purchases of corporate debt
    		                       -258,767,000 -381,028,000 -124,896,000 -125,351,000 -497,747,000 -279,575,000 -234,393,000 -230,103,000  -79,416,000          
      proceeds from sales of corporate debt
    		                       0 30,087,000 56,019,000 179,112,000                
      principal payments on corporate debt
    		                       225,643,000 56,042,000 53,697,000 33,545,000 143,442,000 8,700,000 133,903,000 92,820,000 364,080,000 32,738,000 1,455,000 3,682,000 440,000       
      originations and purchases of commercial real estate investments
    		                       -680,699,000 -180,130,000 -168,729,000 -269,489,000                
      proceeds from sales of commercial real estate investments
    		                       0 0 152,833,000 41,013,000                
      principal repayments on commercial real estate investments
    		                       115,767,000 282,161,000 992,662,000 578,031,000                
      payments on purchases of residential mortgage loans held for investment
    		                       -954,481,000 -719,836,000 -599,067,000 -373,745,000 -556,129,000 -356,866,000 -205,927,000 -167,124,000            
      proceeds from repayments of residential mortgage loans held for investment
    		                       274,778,000 254,097,000 208,623,000 107,783,000 96,044,000               
      payments on purchases of equity securities
    		                                          
      cash paid related to asset acquisition, net of cash acquired
    		                           0               
      net payment from disposal of subsidiary
    		                                          
      principal payments on participation sold
    		                               -12,597,000 -77,000          
      securitized debt assumed through consolidation of vies
    		                                          
      bargain purchase gain
    		                                          
      fees received
    		                                 15,357,000 62,977,000 712,000       
      cash flows from operating activities:
    		                                          
      adjustments to reconcile net income to net cash from operating activities:
    		                                          
      net change in:
    		                                          
      cash flows from investing activities:
    		                                          
      originations and purchases of commercial real estate related assets
    		                            -339,574,000 -266,532,000 -91,647,000            
      proceeds from sales of commercial real estate related assets
    		                                          
      principal repayments on commercial real estate related assets
    		                            83,401,000 264,770,000 130,555,000            
      cash flows from financing activities:
    		                                          
      proceeds from issuance of securitized debt
    		                            308,908,000 0 279,203,000  0          
      redemption of preferred stock
    		                            0 0 -412,500,000            
      supplemental disclosure of cash flow information:
    		                                          
      net interest paid (received) on interest rate swaps
    		                            -102,174,000              
      taxes paid
    		                            -50,000 134,000 2,000 -2,360,000 267,000 -3,221,000 35,216,000 9,608,000 43,126,000 14,644,000 25,412,000 4,345,000 32,652,000 -1,675,000 
      noncash investing activities:
    		                                          
      noncash financing activities:
    		                                          
      proceeds of sales and repayments of loans held for sale
    		                             16,543,000 30,178,000            
      net payments on derivatives
    		                             335,387,000 951,021,000 -257,083,000 -172,848,000 61,386,000 -9,525,000 17,661,000 -5,387,000 32,000     
      accrued interest and dividends receivable
    		                             3,722,000 -2,963,000 -66,172,000 10,768,000 -6,085,000         
      accrued interest payable
    		                             193,743,000 31,628,000 74,048,000 8,137,000 9,996,000 41,248,000 -39,028,000       
      accounts payable and other liabilities
    		                             -3,363,000 -132,910,000 71,808,000 -47,493,000 -67,684,000 15,008,000 -48,693,000 2,360,000 -3,866,000     
      payments on purchases of residential investment securities
    		                             -3,590,360,000 -3,718,947,000 -26,659,249,000 -6,540,170,000          
      proceeds from sales of residential investment securities
    		                             2,902,757,000 463,214,000 4,672,516,000 4,721,621,000          
      principal payments on residential investment securities
    		                             2,968,566,000 2,696,245,000            
      purchase of msrs
    		                             -132,000 -249,000            
      proceeds from sales on commercial real estate related assets
    		                             18,523,000 9,556,000            
      proceeds from repayments from residential mortgage loans held for investment
    		                             86,338,000 67,384,000            
      net contributions/(distributions) from/(to) noncontrolling interests
    		                             -373,000 -333,000            
      receivable for investments sold
    		                             -23,398,000 45,126,000 -492,607,000 -204,104,000 -564,176,000 -179,544,000 -850,730,000  362,066,000     
      payable for investments purchased
    		                             1,017,507,000 91,327,000 202,344,000 -291,853,000 -286,747,000 -7,850,081,000 8,719,628,000 -1,537,190,000 1,028,368,000     
      amortization of residential investment securities premiums and discounts
    		                               45,048,000 213,111,000          
      amortization of residential mortgage loans premiums and discounts
    		                                          
      amortization of securitized debt premiums and discounts
    		                                          
      amortization of commercial real estate investment premiums and discounts
    		                               -1,472,000 -841,000 -658,000         
      amortization of intangibles
    		                               -1,232,000 2,825,000 1,645,000 3,446,000 1,000 1,624,000 207,000 1,193,000 1,000 1,909,000 -7,000 
      amortization of deferred financing costs
    		                               693,000 296,000          
      amortization of net origination fees and costs
    		                               -692,000 -1,057,000          
      amortization of contingent beneficial conversion feature and equity component of convertible senior notes
    		                                          
      depreciation expense
    		                               825,000 5,827,000          
      net (gains) losses on sale of commercial real estate
    		                                          
      net (gains) losses on sales of commercial loans held for sale
    		                                          
      net (gains) losses on sales of residential investment securities
    		                               31,293,000 -14,670,000          
      net (gains) losses on sales of residential mortgage loans
    		                                          
      net (gain) on sale of subsidiary
    		                                          
      net (gains) losses on sales of msrs
    		                                          
      net (gains) losses on sales of corporate debt
    		                                          
      net (gains) losses on sales of other investments
    		                                          
      net (gain) loss on sale of investment in affiliate
    		                                          
      stock compensation expense
    		                               -5,543,000 5,865,000          
      impairment of goodwill
    		                                          
      unrealized (gains) losses on interest rate swaps
    		                               -1,661,396,000 -256,462,000 1,102,679,000 -71,978,000 -507,018,000 309,774,000 1,038,390,000     
      net unrealized (gains) losses on investments measured at fair value through earnings
    		                               15,333,000           
      equity in net income from unconsolidated joint venture
    		                                          
      distributions of cumulative earnings from unconsolidated joint venture
    		                                          
      net (gains) losses on trading assets
    		                               108,612,000 -162,981,000 166,446,000 -19,157,000 -263,000       
      originations of loans held for sale
    		                                          
      proceeds from sale of commercial loans held for sale
    		                               -19,831,000           
      payments on purchases of residential mortgage loans
    		                                          
      proceeds from repayments from residential mortgage loans
    		                               168,610,000           
      payments on purchases of corporate debt held for sale
    		                                          
      proceeds from sales of corporate debt held for sale
    		                                          
      proceeds from repurchase agreements of rcap
    		                               1,733,572,385,000 585,050,000,000 184,690,013,000         
      payments on repurchase agreements of rcap
    		                               -1,727,822,385,000 -586,350,000,000 -174,088,851,000         
      receivable for investment advisory income
    		                                 -2,124,000         
      purchases of msrs
    		                                          
      sales of msrs
    		                                          
      proceeds from sale of investment in affiliate
    		                                          
      purchases of corporate debt
    		                                          
      purchases of commercial real estate debt investments
    		                               20,212,000 0          
      sales of commercial real estate debt investments
    		                                          
      purchases of securitized loans at fair value
    		                                          
      originations of commercial real estate investments
    		                                          
      proceeds from sale of commercial real estate investments
    		                               -790,000 0          
      principal payments on commercial real estate debt investments
    		                               155,476,000 9,515,000          
      principal payments on securitized loans at fair value
    		                               987,302,000 54,379,000          
      principal payments on commercial real estate investments
    		                               -137,215,000 83,976,000 8,744,000         
      purchases of investments in real estate
    		                                          
      investments in unconsolidated joint ventures
    		                                          
      purchases of residential mortgage loans held for investment
    		                                          
      principal payments on residential mortgage loans held for investment
    		                                          
      purchases of equity securities
    		                                          
      proceeds from sales of equity securities
    		                                0          
      cash acquired in business combinations
    		                                          
      net proceeds from disposal of subsidiary
    		                                          
      proceeds from repurchase agreements
    		                               82,818,755,000 42,878,279,000 -26,228,971,000 260,639,683,000 7,651,080,000 200,233,011,000 10,401,763,000 169,063,360,000 2,241,990,000 247,695,921,000 -12,507,480,000 
      principal payments on repurchase agreements
    		                               -71,218,724,000 -44,085,302,000 22,367,390,000 -249,933,647,000 -11,254,485,000 -188,259,468,000 -5,244,768,000 -171,843,095,000 3,121,680,000 -249,793,883,000 13,012,204,000 
      payments on maturity of convertible senior notes
    		                                          
      proceeds from other secured financing
    		                               -2,085,580,000 212,230,000          
      payments on other secured financing
    		                               114,513,000 -31,652,000          
      principal repayments on securitized loans
    		                                          
      payments of deferred financing cost
    		                                          
      net proceeds from issuances of preferred stock
    		                                          
      net proceeds from direct purchases and dividend reinvestments
    		                               747,000 619,000 65,000 1,660,000 289,000       
      net proceeds from issuances of common stock
    		                                          
      proceeds from mortgages payable
    		                                          
      contributions from noncontrolling interests
    		                                          
      distributions to noncontrolling interests
    		                               -209,000 -183,000          
      cash and cash equivalents, beginning of period
    		                               -229,512,000 0 -1,137,013,000 69,824,000 -8,387,000  44,832,000 1,176,589,000 -577,976,000 -443,445,000 317,680,000 
      cash and cash equivalents, end of period
    		                               -1,675,599,000 -353,062,000 397,185,000 -1,649,065,000 1,340,480,000  3,072,022,000 -6,860,000 -38,493,000 -218,773,000 370,543,000 
      investment advisory income received
    		                                          
      reclassification of loans held for sale to investments in commercial real estate
    		                                          
      residential mortgage loans acquired through consolidation of vies
    		                                          
      net gain on sale of commercial real estate
    		                                0          
      net gain on sale of commercial loans held for sale
    		                                5,000          
      net (gains) losses on sale of residential mortgage loans
    		                                          
      equity in net income from unconsolidated joint ventures
    		                                927,000          
      originations of commercial loans held for sale
    		                                          
      payments on purchase of residential mortgage loans
    		                                          
      proceeds from reverse repurchase agreements of rcap
    		                                 44,101,757,000         
      payments on reverse repurchase agreements of rcap
    		                                 -48,726,829,000         
      principal payments on agency mortgage-backed securities
    		                                3,964,848,000 -2,060,926,000 25,189,634,000 2,066,367,000 18,491,181,000      
      purchase of securitized loans at fair value
    		                                0          
      origination of commercial real estate investments
    		                                -15,164,000          
      purchase of investments in real estate
    		                                -856,000          
      investment in unconsolidated joint venture
    		                                -2,550,000          
      payments on purchase of residential mortgage loans held for investment
    		                                          
      purchase of equity securities
    		                                0    0      
      cash acquired in business combination
    		                                          
      decrease in securitized debt
    		                                          
      net income on sale of commerical real estate debt investments
    		                                          
      net unrealized (gains) losses on financial instruments measured at fair value through earnings
    		                                          
      proceeds from sale of loans held for sale
    		                                          
      amortization of investment securities premiums and discounts
    		                                 -118,213,000         
      net (gains) losses on sales of agency mortgage-backed securities and debentures
    		                                 104,396,000         
      loss on previously held equity interest in crexus
    		                                          
      net unrealized (gains) losses on interest-only agency mortgage-backed securities
    		                                 118,620,000 26,374,000 7,460,000       
      proceeds from securities borrowed
    		                                 1,360,210,000 47,964,400,000 13,655,730,000 14,815,483,000 10,986,154,000 2,046,327,000 241,973,000   
      payments on securities borrowed
    		                                 -2,638,601,000 -49,059,245,000 -13,450,221,000 -14,994,658,000 -11,367,820,000 -2,224,926,000 -68,863,000   
      proceeds from securities loaned
    		                                 51,419,108,000 126,333,483,000 25,467,194,000 41,727,401,000 11,069,763,000 2,234,232,000 186,693,000   
      payments on securities loaned
    		                                 -50,358,448,000 -125,465,930,000 -25,567,591,000 -41,600,072,000 -10,697,510,000 -2,054,538,000 -359,468,000   
      payments on purchases of agency mortgage-backed securities and debentures
    		                                 3,169,716,000 -64,763,679,000 -3,377,123,000 -52,010,315,000      
      proceeds from sales of agency mortgage-backed securities and debentures
    		                                 316,164,000 22,732,424,000 2,665,295,000 15,768,335,000      
      proceeds from agency debentures called
    		                                  1,473,898,000 -371,138,000 835,075,000 265,573,000     
      proceeds from corporate debt called
    		                                  48,484,000        
      acquisition of crexus
    		                                 723,959,000         
      proceeds from sales of commercial real estate held for sale
    		                                          
      proceeds from derivatives
    		                                          
      proceeds from exercise of stock options
    		                                  7,768,000 -2,879,000 7,201,000 -1,923,000 3,566,000 279,000 4,594,000 221,000 
      contingent beneficial conversion feature on 4% convertible senior notes
    		                                 -230,000 88,328,000 -49,623,000       
      amortization of deferred expenses
    		                                 0 4,776,000 351,000 2,700,000 0     
      amortization of contingent beneficial conversion feature on convertible senior notes
    		                                 728,000   5,652,000      
      net income on extinguishment of 4% convertible senior notes
    		                                  75,012,000        
      proceeds from reverse repurchase agreements of shannon
    		                                 -99,786,000         
      payments on reverse repurchase agreements of shannon
    		                                 102,787,000         
      payments on purchase of corporate debt
    		                                 3,564,000 -57,570,000 -13,620,000       
      purchases of commercial real estate investments
    		                                 -103,982,000         
      earn out payment
    		                                          
      net proceeds from series c preferred offering
    		                                          
      net proceeds from series d preferred offering
    		                                  0        
      net payment from extinguishment of 4% convertible senior notes
    		                                          
      net proceeds from issuance of 5% convertible senior notes offering
    		                                          
      net (payments) proceeds from follow-on offerings
    		                                          
      payments on participation sold
    		                                 2,000         
      conversion of series b cumulative preferred stock
    		                                     6,271,000 15,875,000    
      equity component of 5% convertible senior notes
    		                                  0 0       
      amortization of investment premiums and discounts
    		                                  1,015,308,000 152,724,000 593,263,000 74,441,000     
      stock option and long-term compensation expense
    		                                  4,587,000 -14,000 3,866,000 206,000 3,561,000 1,000 3,576,000 -116,000 
      proceeds from repurchase agreements from rcap
    		                                  564,834,073,000 -45,080,950,000       
      payments on repurchase agreements from rcap
    		                                  -561,124,646,000 47,916,772,000       
      proceeds from reverse repurchase agreements to rcap
    		                                  288,468,083,000 -17,327,259,000       
      payments on reverse repurchase agreements to rcap
    		                                  -289,751,977,000 17,201,018,000       
      proceeds from reverse repurchase agreements to shannon
    		                                  494,885,000 55,792,000 107,506,000 51,803,000     
      payments on reverse repurchase agreements to shannon
    		                                  -574,307,000 -31,594,000 -101,705,000 -64,067,000     
      accrued interest and dividend receivable
    		                                   -3,250,000  -30,175,000     
      advisory and service fees receivable
    		                                  1,348,000 1,607,000  3,045,000     
      net gains on other derivative securities
    		                                          
      statement continued on following page.
    		                                          
      statement continued from previous page.
    		                                          
      net change in unrealized loss on available-for-sale securities and interest rate swaps, net of reclassification adjustment
    		                                   9,397,000       
      contingent beneficial conversion feature on convertible senior notes
    		                                          
      amortization of contingent beneficial conversion feature and equity component on convertible senior notes
    		                                  16,579,000 -4,794,000       
      (gains) losses on disposal of investments
    		                                          
      non-cash component of disposal of subsidiary
    		                                          
      (gain) loss on investment with affiliate, equity method
    		                                          
      unrealized (gains) losses on equity securities
    		                                    37,000      
      receivable from prime broker
    		                                          
      purchase of investment in affiliate
    		                                          
      purchase of customer relationships
    		                                          
      payment on disposal of subsidiary
    		                                          
      net proceeds from issuance of 5% convertible senior notes
    		                                          
      net proceeds from issuance of 4% convertible senior notes
    		                                          
      net payment on extinguishment of 4% convertible senior notes
    		                                          
      net proceeds from common stock follow-on offerings
    		                                          
      net change in unrealized gains on available-for-sale securities and interest rate swaps, net of reclassification adjustment
    		                                          
      conversion of series b cumulative convertible preferred stock
    		                                          
      net (gains) losses on disposal of investments
    		                                          
      gain on investment in affiliate, equity method
    		                                          
      net (payment) proceeds from follow-on offerings
    		                                          
      payable for investments purchased with affiliate
    		                                          
      (gains) losses on sales of agency mortgage-backed securities and debentures
    		                                    -115,178,000      
      unrealized (gains) losses on interest-only agency mortgage-backed securities
    		                                    67,336,000      
      proceeds from repurchase agreements from broker dealer
    		                                    720,664,765,000 -103,709,520,000 903,426,088,000 43,762,839,000 129,392,625,000  
      payments on repurchase agreements from broker dealer
    		                                    -722,122,700,000 108,138,014,000 -894,364,778,000 -47,075,031,000 -123,887,329,000  
      proceeds from reverse repurchase agreements to broker dealer
    		                                    129,048,782,000 -20,934,647,000     
      payments on reverse repurchase agreements to broker dealer
    		                                    -129,142,836,000 20,426,257,000     
      receivable for advisory and service fees
    		                                          
      issuance of convertible senior notes
    		                                          
      proceeds from direct purchase and dividend reinvestment
    		                                      277,787,000 357,000 586,000  
      cash and cash equivalents, beginning of year
    		                                          
      cash and cash equivalents, end of year
    		                                          
      contingent beneficial conversion feature on senior convertible notes
    		                                          
      net (gains) losses on trading securities
    		                                     -7,654,000     
      net proceeds from follow-on offerings
    		                                          
      contingent beneficial conversion feature
    		                                          
      (gains) losses on sales of mortgage-backed securities and agency debentures
    		                                          
      unrealized (gains) losses on interest-only mortgage-backed securities
    		                                          
      gain on investment with affiliate, equity method
    		                                          
      payments on purchases of mortgage-backed securities and agency debentures
    		                                          
      proceeds from sales of mortgage-backed securities and agency debentures
    		                                          
      principal payments on mortgage-backed securities
    		                                          
      proceeds from direct purchases and dividend reinvestments
    		                                          
      net change in unrealized loss on available-for-sale securities and interest rate
    		                                          
      swaps, net of reclassification adjustment
    		                                          
      amortization of mortgage backed securities premiums and discounts
    		                                          
      amortization on deferred expenses
    		                                          
      gains on sales of mortgage-backed securities and agency debentures
    		                                          
      net gains on trading securities
    		                                       -1,005,000   
      proceeds from reverse repo to broker dealer
    		                                          
      payments on reverse repo to broker dealer
    		                                          
      increase in other assets
    		                                        -5,325,000  
      increase in accrued interest and dividend receivable
    		                                      -4,853,000    
      increase in advisory and service fees receivable
    		                                          
      decrease in interest payable
    		                                          
      increase in accounts payable and other liabilities
    		                                      -18,620,000 54,011,000   
      proceeds from other derivative securities
    		                                          
      interest paid, including interest rate swaps
    		                                          
      receivable for investment securities sold
    		                                          
      payable for investments securities purchased
    		                                          
      net income attributable to non controlling interest
    		                                          
      amortization on deferred
    		                                          
      amortization of trading securities premiums and discounts
    		                                          
      gain on sale of mortgage-backed securities and agency debentures
    		                                      -119,805,000    
      unrealized gain on interest rate swaps
    		                                      -129,421,000 -144,785,000  358,894,000 
      realized loss on futures
    		                                          
      realized gain on treasuries
    		                                          
      unrealized loss on treasuries
    		                                          
      unrealized loss on options
    		                                          
      net realized gain on trading investments
    		                                          
      unrealized depreciation on trading investments
    		                                          
      loss on other-than-temporarily impaired securities
    		                                          
      decrease (increase) in other assets
    		                                      -11,358,000 -6,776,000   
      increase in interest payable
    		                                      11,835,000  -105,556,000  
      purchase of trading securities
    		                                       -2,639,709,000   
      proceeds from sale of trading securities
    		                                       2,699,017,000   
      purchase of equity trading securities sold, not yet purchased
    		                                          
      proceeds from equity trading securities sold, not yet purchased
    		                                          
      decrease (increase) in receivable from prime broker
    		                                          
      reduction of net assets in the fund
    		                                          
      proceeds from reverse repo from broker dealer
    		                                        -4,998,217,000 812,860,000 
      payments on reverse repo from broker dealer
    		                                          
      payments on treasuries
    		                                          
      proceeds from treasuries
    		                                          
      payments on future contract
    		                                          
      purchase of mortgage-backed securities
    		                                      -38,759,791,000 3,644,979,000 -16,186,773,000 -3,383,303,000 
      proceeds from sale of mortgage-backed securities and agency debentures
    		                                      7,978,335,000    
      principal payments of mortgage-backed securities
    		                                      23,391,475,000 -4,977,522,000 9,779,938,000 504,446,000 
      agency debentures called
    		                                      1,782,127,000 -524,125,000   
      purchase of agency debentures
    		                                          
      purchase of corporate debt
    		                                          
      investment in affiliates
    		                                          
      investment to purchase subsidiary
    		                                          
      issuance of convertible notes
    		                                          
      net proceeds from atm programs
    		                                          
      noncontrolling interest
    		                                          
      net cash provided (used) by financing activities
    		                                          
      receivable for mortgage-backed securities sold
    		                                      -1,486,082,000    
      payable for mortgage-backed securities and agency debentures purchased
    		                                      -3,590,915,000    
      net change in unrealized gain on available-for-sale securities and interest rate swaps, net of reclassification adjustment
    		                                      -64,011,000 -1,315,013,000 1,041,227,000 357,277,000 
      amortization of mortgage-backed securities and agency debentures premiums and discounts
    		                                          
      deferred expense amortization
    		                                       0   
      net change in investment with affiliate, equity method
    		                                       -22,000   
      (increase) in advisory and service fees receivable
    		                                          
      payments on reverse repurchase agreements from broker dealer
    		                                          
      proceeds from reverse repurchase agreements from broker dealer
    		                                          
      purchase of available-for-sale equity securities from affiliate
    		                                          
      net proceeds from follow-on offering
    		                                          
      gain on sale of investment securities
    		                                          
      decrease (increase) in accrued interest and dividend receivable
    		                                          
      increase (decrease in) interest payable
    		                                          
      proceeds from sale of investment securities
    		                                        3,423,890,000 458,731,000 
      net cash (used) provided by financing activities
    		                                          
      payable for investment securities purchased
    		                                        439,366,000 -3,373,024,000 
      decrease (increase) in advisory and service fees receivable
    		                                          
      proceeds from sale of mortgage-backed securities
    		                                          
      adjustments to reconcile net income to net cash provided
    		                                          
      by operating activities:
    		                                          
      (gain) loss on sale of investment securities
    		                                        -98,537,000  
      gain on termination of interest rate swaps
    		                                          
      unrealized (gain) loss on interest rate swaps
    		                                          
      loss on investment with affiliate, equity method
    		                                          
      unrealized depreciation (appreciation) on trading investments
    		                                          
      purchase of trading securities sold, not yet purchased
    		                                          
      proceeds from trading securities sold, not yet purchased
    		                                          
      loss on receivable from prime broker
    		                                          
      proceeds from termination of interest rate swaps
    		                                          
      net income attributable to noncontrolling interest
    		                                          
      amortization of mortgage-backed securities premiums and discounts
    		                                         16,657,000 
      equity in investment with affiliate
    		                                          
      unrealized (appreciation) depreciation on trading investments
    		                                          
      increase in accrued interest and dividends receivable
    		                                         -11,696,000 
      proceeds from securities sold, not yet purchased
    		                                          
      increase in accrued expenses and other liabilities
    		                                         -18,269,000 
      payment on reverse repo from broker dealer
    		                                         -891,182,000 
      decrease in trading sales receivables
    		                                          
      decrease in other assets
    		                                          
      proceeds from repurchase agreements on from broker dealer
    		                                          
      payments on repurchase agreements, broker dealer
    		                                          
      purchase of reverse repurchase agreements
    		                                          
    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.