Replies to post #518740 on Fannie Mae-No Politics (FNMA)

[Bostonsesco]

Nice info ...

[Guido2]

Thanks Red Cloud. Interesting!

[Clark6290]

Glad they bought, otherwise PPS would be sub $2.

[camaro4me]

Excellent News

Growth Fund of America - FNMA, FMCC holdings 3/31/19


FNMA = 77,989,064 - up 48.2% from 12/31/18

FMCC = 91,929,599 - up 5.6% from 12/31/18


As of 3/31/19:

FNMA holdings = $218,369,379

FMCC holdings = $247,290,621


https://www.americanfunds.com/individual/investments/quarterlyholdings/agthx

[kthomp19]

Good find, thank you for posting this.

By my count, they have $465,660,000 in FnF common shares, and $1,080,213,452 in FnF junior preferred shares. That comes out to a preferred allocation of just under 70%. It is also notable that the majority of their preferred shares are in the two most liquid: FNMAS and FMCKJ, along with a sizable investment in FNMAT.

They are much more heavily hedged against a "restructuring that disproportionately benefits the preferred versus the common shares" than Ackman is! I wouldn't expect them to die on a hill for common shareholders if they can make more money by just making sure their preferred shares gain the most possible.

We can now add to the list:

Berkowitz: 100% prefs
Ackman: 38% prefs
Paulson: 100% prefs
Growth Fund of America: 70% prefs

What's in your wallet?

[RickNagra]

On Monday MorningStar will report all new institutional ownership for Q1. It could be a very long list requiring days and days to read. Get your reading glasses ready. Put fresh batteries in.

[KenKong]

I can picture Mr. Burns saying
“Excellent”

[Brooge warrants cancelled]

https://money.cnn.com/quote/shareholders/shareholders.html?symb=fmcc&subView=institutional