Note 6 - Pledged Assets (Tables)

9 Months Ended

Sep. 30, 2025

Notes Tables

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

(in thousands)
	September 30, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Counterparties	Agreements		Agreements		Total		Agreements		Agreements		Total
PT RMBS - fair value	$	8,305,758	$	-	$	8,305,758	$	5,193,570	$	-	$	5,193,570
Structured RMBS - fair value		14,180		-		14,180		15,498		-		15,498
U.S. Treasury securities		-		125,440		125,440		-		100,551		100,551
Accrued interest on pledged securities		38,031		1,169		39,200		22,852		-		22,852
Restricted cash		26,357		6,964		33,321		22,818		2,905		25,723
Total	$	8,384,326	$	133,573	$	8,517,899	$	5,254,738	$	103,456	$	5,358,194

Schedule of Financial Instruments Pledged as Collateral From Counterparties [Table Text Block]

(in thousands)
	September 30, 2025						December 31, 2024
	Repurchase		Derivative				Repurchase		Derivative
Assets Pledged to Orchid	Agreements		Agreements		Total		Agreements		Agreements		Total
Cash	$	3,193	$	330	$	3,523	$	4,465	$	4,282	$	8,747
U.S. Treasury securities - fair value		512		-		512		4,146		-		4,146
Total	$	3,705	$	330	$	4,035	$	8,611	$	4,282	$	12,893