Source: Company filings. Financial data as of September 30, 2025.
- Permanent capital represents Annaly’s total stockholders’ equity as of September 30, 2025.
- Total portfolio represents Annaly’s investments that are on-balance sheet as well as investments that are off-balance sheet in which Annaly has economic exposure. Agency assets include TBA purchase contracts (market value) of $4.0bn. Residential Credit assets exclude assets transferred or pledged to securitization vehicles of $29.5bn, include $3.0bn of retained securities that are eliminated in consolidation and are shown net of participations issued totaling $1.8bn.
- Capital allocation for each of the investment strategies is calculated as the difference between each investment strategy’s allocated assets, which include TBA purchase contracts, and liabilities.