ANNALY CAPITAL MANAGEMENT INC
For the period ended Jun 30, 2024. Filed Jul 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Financial Condition
Total assets were $93.7 billion and $93.2 billion at June 30, 2024 and December 31, 2023, respectively. The change was primarily due to increases in securitized residential whole loans of consolidated VIEs of $4.6 billion, mortgage servicing rights of $663.4 million, residential whole loans of $195.1 million, and cash and cash equivalents of $175.0 million, partially offset by decreases in securities of $2.6 billion, receivables for unsettled trades of $2.4 billion and principal and interest receivable of $305.6 million. Our portfolio composition, net equity allocation and debt-to-net equity ratio by asset class were as follows at June 30, 2024:
| Agency MBS | MSR | Residential Credit (1) | Commercial | Total | |
|---|---|---|---|---|---|
| Assets · (dollars in thousands) | |||||
| Fair value | $64,390,905 | $2,785,614 | $23,036,336 | $112,552 | $90,325,407 |
| Implied market value of derivatives (2) | 1,652,389 | — | — | — | 1,652,389 |
| Debt | |||||
| Repurchase agreements | 56,692,738 | — | 3,994,635 | 100,621 | 60,787,994 |
| Implied cost basis of derivatives (2) | 1,639,941 | — | — | — | 1,639,941 |
| Other secured financing | — | 600,000 | — | — | 600,000 |
| Debt issued by securitization vehicles | — | — | 15,831,915 | — | 15,831,915 |
| Participations issued | — | — | 1,144,821 | — | 1,144,821 |
| U.S. Treasury securities sold, not yet purchased | 1,929,728 | (2,566) | 47,444 | (4) | 1,974,602 |
| Net forward purchases | 729,929 | 45,683 | — | — | 775,612 |
| Other | |||||
| Net other assets / liabilities | 1,422,239 | 363,448 | 188,347 | 65,959 | 2,039,993 |
| Net equity allocated | $6,473,197 | $2,505,945 | $2,205,868 | $77,894 | $11,262,904 |
| Net equity allocated (%) | 58% | 22% | 19% | 1% | 100% |
| Debt/net equity ratio (3) | 9.1:1 | 0.2:1 | 9.5:1 | 1.3:1 | 7.1:1 |
| (1) Fair value includes residential loans held for sale, and assets and liabilities associated with non-controlling interests.(2) Derivatives include TBA contracts under Agency MBS.(3) Represents the debt/net equity ratio as determined using amounts in the Consolidated Statements of Financial Condition. | |||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.