Valuation (Fair Value of Other Financial Instruments) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
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| Fair Value | |||||||||||||
| Assets: | |||||||||||||
| Cash and cash equivalents | $ 247,473 | $ 247,473 | $ 201,893 | ||||||||||
| Restricted cash | 42,373 | 42,373 | 136,297 | ||||||||||
| Due from brokers | 59,396 | 59,396 | 35,919 | ||||||||||
| Reverse repurchase agreements | 577,691 | 577,691 | 453,037 | ||||||||||
| Liabilities: | |||||||||||||
| Repurchase agreements(1) | 3,064,277 | 3,064,277 | 2,655,444 | ||||||||||
| Other secured borrowings(1) | 256,988 | 256,988 | 296,398 | ||||||||||
| Due to brokers | 59,791 | 59,791 | 48,104 | ||||||||||
| Carrying Value | |||||||||||||
| Assets: | |||||||||||||
| Cash and cash equivalents | 247,473 | 247,473 | 201,893 | ||||||||||
| Restricted cash | 42,373 | 42,373 | 136,297 | ||||||||||
| Due from brokers | 59,396 | 59,396 | 35,919 | ||||||||||
| Reverse repurchase agreements | 577,691 | 577,691 | 453,037 | ||||||||||
| Liabilities: | |||||||||||||
| Repurchase agreements(1) | 3,064,277 | 3,064,277 | 2,655,444 | ||||||||||
| Other secured borrowings(1) | 256,988 | 256,988 | 296,398 | ||||||||||
| Due to brokers | 59,791 | 59,791 | 48,104 | ||||||||||
| Cash and cash equivalents | 247,473 | [1] | $ 211,013 | [1] | 247,473 | [1] | $ 211,013 | [1] | 201,893 | [1] | $ 192,387 | ||
| Restricted cash | 42,400 | 42,400 | 136,300 | ||||||||||
| Due from brokers | 59,396 | 59,396 | 35,919 | ||||||||||
| Repurchase agreements(1) | [1] | 3,064,277 | 3,064,277 | 2,655,444 | |||||||||
| Other secured borrowings(1) | [1] | 256,988 | 256,988 | 296,398 | |||||||||
| Due to brokers | 59,791 | 59,791 | $ 48,104 | ||||||||||
| Level 3 | |||||||||||||
| Liabilities: | |||||||||||||
| Assets, Transfers out of Level 3 | (7,877) | (38,386) | (35,438) | (40,839) | |||||||||
| Assets, Transfers into Level 3 | $ 29,901 | $ 7,981 | $ 44,842 | $ 19,154 | |||||||||
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