The firm reported an estimated book value per common share of $7.75 as of July 31, 2026. Management notes that the company maintains $549.3 million in unrestricted cash and unencumbered investments, while total repurchase agreement borrowings stand at $6.5 billion. Leverage metrics reflect a GAAP debt-to-equity ratio of 6.5x, with an economic debt-to-equity ratio of 7.4x.

Portfolio composition remains heavily weighted toward Agency RMBS, which constitutes 90% of the $8.1 billion total holdings when including TBAs. The company currently manages interest rate swap agreements totaling $4.8 billion in notional value and holds $1.6 billion in U.S. Treasury futures contracts. These preliminary figures are unaudited and reflect management's judgment during the month-end closing process, leaving them subject to potential revision as final reports are compiled.