APOLLO RESIDENTIAL MORTGAGE, INC. is a holding company and conducts its business primarily through ARM Operating, LLC and its other operating subsidiaries. The Company is primarily engaged in the business of investing, on a leveraged basis, in residential mortgage assets in the United States. Its principal objective is to provide risk-adjusted returns from its assets to its stockholders over the long term. The Company invests in assets of various classes, such as Agency RMBS, Non-Agency RMBS, Residential Mortgage Loans and Other Residential Mortgage Related Assets. As of December 31, 2013, the Company holds investments in Agency RMBS, including Agency IOs and Agency Inverse IOs, non-Agency RMBS, securitized mortgage loans and other mortgage related investments. The Company is externally managed and advised by ARM Manager, LLC.