The following tables provide a summary of our assets and liabilities that are measured at fair value on a recurring basis at March 31, 2025 and December 31, 2024.


March 31, 2025	Level 1		Level 2		Level 3		Balance
Assets at Fair Value:
Agency Securities	$	—	$	14,442,377	$	—	$	14,442,377

Derivatives	$	—	$	724,827	$	—	$	724,827
Liabilities at Fair Value:
Obligations to return securities as collateral	$	—	$	506,340	$	—	$	506,340
Derivatives	$	45,088	$	26,209	$	—	$	71,297

December 31, 2024	Level 1		Level 2		Level 3		Balance
Assets at Fair Value:
Agency Securities	$	—	$	12,439,414	$	—	$	12,439,414

Derivatives	$	13,300	$	894,763	$	—	$	908,063
Liabilities at Fair Value:
Obligations to return securities as collateral	$	—	$	493,433	$	—	$	493,433
Derivatives	$	328	$	957	$	—	$	1,285