CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Interest Income: | ||||||
| Interest Income | $ 263,870 | $ 180,886 | $ 513,071 | $ 353,767 | ||
| Interest expense (including $(86,289) and $(68,342) and $(167,064) and $(129,318), respectively with BUCKLER) | (187,051) | (147,781) | (365,538) | (284,321) | ||
| Net Interest Income | 76,819 | 33,105 | 147,533 | 69,446 | ||
| Other Income (Loss): | ||||||
| Loss on derivatives, net | [1] | 108,235 | (108,022) | 191,260 | (299,240) | |
| Total Other Income (Loss) | 55,157 | (94,364) | (55,061) | (90,231) | ||
| Expenses: | ||||||
| Management fees | 12,539 | 11,060 | 24,754 | 21,829 | ||
| Compensation | 1,163 | 888 | 2,116 | 1,700 | ||
| Other operating | 3,458 | 4,051 | 5,637 | 7,262 | ||
| Total Expenses | 17,160 | 15,999 | 32,507 | 30,791 | ||
| Less management fees waived | 0 | (1,650) | 0 | (3,300) | ||
| Total Expenses after fees waived | 17,160 | 14,349 | 32,507 | 27,491 | ||
| Net Income (Loss) | 114,816 | (75,608) | 59,965 | (48,276) | ||
| Dividends on preferred stock | (3,264) | (3,003) | (6,439) | (6,003) | ||
| Net Income (Loss) available (related) to common stockholders | $ 111,552 | $ (78,611) | $ 53,526 | $ (54,279) | ||
| Net Income (Loss) per share available (related) to common stockholders (Note 11): | ||||||
| Basic (in dollars per share) | $ 0.86 | $ (0.94) | $ 0.43 | $ (0.68) | ||
| Diluted (in dollars per share) | 0.86 | (0.94) | 0.43 | (0.68) | ||
| Dividends declared per common share (in dollars per share) | $ 0.72 | $ 0.72 | $ 1.44 | $ 1.44 | ||
| Weighted average common shares outstanding: | ||||||
| Basic (in shares) | 129,125 | 83,803 | 124,378 | 79,536 | ||
| Diluted (in shares) | 130,018 | 83,803 | 125,271 | 79,536 | ||
| BUCKLER Securities, LLC | Related Party | ||||||
| Interest Income: | ||||||
| Interest expense (including $(86,289) and $(68,342) and $(167,064) and $(129,318), respectively with BUCKLER) | $ (86,289) | $ (68,342) | $ (167,064) | $ (129,318) | ||
| Agency Securities | ||||||
| Other Income (Loss): | ||||||
| Gain (Loss) on Agency Securities, trading, net | (42,624) | 16,545 | (225,219) | 224,802 | ||
| US Treasury Securities | ||||||
| Other Income (Loss): | ||||||
| Loss on U.S. Treasury Securities, net | $ (10,454) | $ (2,887) | $ (21,102) | $ (15,793) | ||
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- Definition Expenses, After Fees Waived No definition available.
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- Definition Other Operating Income (Loss) No definition available.
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- Definition Other Operating Income Loss [Abstract] No definition available.
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- Definition -- None. No documentation exists for this element. -- No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of unrealized and realized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity), investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and investment in debt security measured at fair value with change in fair value recognized in net income (trading). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of unrealized and realized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in net income (trading). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Gross expenses on securities sold coupled with an agreement to repurchase the same from the same counterparty at a fixed or determinable price within a fixed or variable time period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income, amortization of premium and accretion of discount, on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), investment in debt security measured at amortized cost (held-to-maturity) and investment in debt security measured at fair value with change in fair value recognized in net income (trading); classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of fee contractually waived by investment company. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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