# Adamas Trust, Inc.: overview

ADAM · Nasdaq · CIK 1273685 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/adam.md) · [Financials](/companies/adam/financials.md) · [Filings](/companies/adam/filings.md) · [Insiders](/companies/adam/insiders.md)

Revenue is not reported in this company’s XBRL financial statements.

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Diluted EPS | $ per share | [0.36](/filings/0001273685-25-000088.md) | not reported | [0.33](/filings/0001273685-26-000045.md) | [(0.04)](/filings/0001273685-26-000069.md) | [0.36](/filings/0001273685-25-000088.md) | not reported | [0.40](/filings/0001273685-26-000045.md) | [0.47](/filings/0001273685-26-000069.md) |
| Free cash flow | $m | [(8.6) d](/filings/0001273685-25-000088.md) | [25.7 d](/filings/0001273685-26-000029.md) | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL not reported.
- Gross margin (gross profit / revenue). XBRL not reported.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | not reported | not reported | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | not reported | not reported | not reported | not reported | not reported |
| Diluted EPS | $ per share | [1.51](/filings/0001273685-24-000033.md) | [(3.61)](/filings/0001273685-25-000028.md) | [(0.99)](/filings/0001273685-26-000029.md) | [(1.14)](/filings/0001273685-26-000029.md) | [1.10](/filings/0001273685-26-000029.md) |
| Free cash flow | $m | [92.9](/filings/0001273685-24-000033.md) | [(118)](/filings/0001273685-25-000028.md) | [(20.5)](/filings/0001273685-26-000029.md) | [(10.6)](/filings/0001273685-26-000029.md) | [126](/filings/0001273685-26-000029.md) |

- Revenue. XBRL not reported.
- Gross margin (gross profit / revenue). XBRL not reported.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/adam/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $127.9m | 13,631,398 |  | Added +358,817 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $34.2m | 3,646,199 |  | Reduced −141,246 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $33.4m | 3,458,825 |  | Added +113,489 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $29.7m | 3,162,727 |  | Reduced −7,318 |
| [MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.](/funds/1705339.md) | 2026-06-30 | $24.5m | 2,610,594 |  | Added +46,694 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $21.4m | 2,277,233 |  | Added +37,533 |
| [Allspring Global Investments Holdings, LLC](/funds/1890906.md) | 2026-06-30 | $20.1m | 2,164,125 |  | Reduced −703,489 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $16.3m | 1,738,555 |  | Added +89,311 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $13.7m | 1,460,835 |  | Reduced −172,169 |
| [NORTHERN TRUST CORP](/funds/73124.md) | 2026-06-30 | $10.8m | 1,149,187 |  | Added +157,054 |

## Recent filings

[All 970 filings](/companies/adam/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-10 | 16:09 ET | [8-K](/filings/0001273685-26-000073.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001273685-26-000073 |
| 2026-08-25 | 14:28 ET | [SCHEDULE 13D/A](/filings/0000904853-26-000004.md) | Ownership report, active investor, amended | 0000904853-26-000004 |
| 2026-08-14 | 16:06 ET | [8-K](/filings/0001104659-26-097101.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-097101 |
| 2026-08-12 | 09:04 ET | [8-K](/filings/0001104659-26-094556.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-094556 |
| 2026-08-11 | 08:06 ET | [8-K](/filings/0001273685-26-000071.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001273685-26-000071 |
| 2026-07-31 | 16:45 ET | [10-Q](/filings/0001273685-26-000069.md) | Quarterly report, period 2026-06-30 | 0001273685-26-000069 |
| 2026-07-29 | 16:33 ET | [8-K](/filings/0001273685-26-000067.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001273685-26-000067 |
| 2026-06-12 | 08:13 ET | [8-K](/filings/0001104659-26-073212.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-073212 |
| 2026-06-11 | 16:47 ET | [8-K](/filings/0001273685-26-000048.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 8.01 Other events; 9.01 Financial statements and exhibits | 0001273685-26-000048 |
| 2026-05-01 | 17:09 ET | [10-Q](/filings/0001273685-26-000045.md) | Quarterly report, period 2026-03-31 | 0001273685-26-000045 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001273685-26-000029.md), filed Feb 20, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1273685
- Tickers: ADAM, ADAMG, ADAMH, ADAMI, ADAMK, ADAML, ADAMM, ADAMN, ADAMO, ADAMZ
- Exchange: Nasdaq
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:35 ET. No prices; not investment advice.