Fannie Mae-No Politics (FNMA)

[ERTguy]

Bill Ackman adds to Fannie, Freddie stakes.

Billionaire activist Bill Ackman has added to his Fannie Mae and Freddie Mac bets since the stocks got clobbered by a federal court ruling last week, The Post has learned.
Ackman’s Pershing Square hedge fund said it added to its 10 percent stakes in the two mortgage giants.
Pershing Square quit reporting its Fannie and Freddie holdings earlier this year, so it’s unclear how big the stake has become.
Uncle Sam owns 80 percent of both companies.
The stocks have trimmed their losses after falling almost 50 percent when Judge Royce Lamberth on Sept. 29 threw out lawsuits by Fairholme Capital and Perry Capital — preferred shareholders who claimed Washington improperly seized their property by changing the terms of its agreement with them.
Ackman is not a part of that lawsuit and is pursuing his own claims.
Investors now say the proper jurisdiction for their claims is the US Court of Federal Claims, which handles claims over improper taking of private property. That court has allowed lawsuits by the preferred shareholders to proceed.
The court is hearing the AIG shareholder lawsuit brought by Hank Greenberg.
Fannie Mae gained 2.3 percent to close at $1.76 Thursday; Freddie Mac rose 3 percent, to $1.70.