Oksenholt Capital Management Reports Major Freddie Mac Stake; Calls for Fannie Mae and Freddie Mac to Return to Major Exchange

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government-sponsored enterprise financial

A government-sponsored enterprise is a financial company created by law to make borrowing easier for public priorities, such as housing or agriculture; it operates like a private business but has a government charter and public mission. For investors, that mix matters because these firms often receive special oversight and perceived government support, which can lower perceived risk and affect yields, similar to buying a bond from a firm that has a safety net.

junior preferred shares financial

Junior preferred shares are a class of ownership that ranks above common stock but below other preferred shares when it comes to receiving regular dividend payments and any proceeds if a company is wound up. For investors they behave like a middle-ground income investment: typically offering steady payouts and limited voting rights, with more safety than common stock but less payment priority and higher risk than senior preferred shares—like standing in a shorter line for a payout.

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A Form 13F is a quarterly filing that large investment managers must submit to disclose their holdings in publicly traded stocks and certain other securities. It acts like a peek into the portfolios of big investors, helping other market participants see what large players are buying or selling and offering clues about investment trends, crowded trades, and potential market impact.

institutional ownership financial

The percentage of a company's outstanding shares owned by large professional investors—such as mutual funds, pension funds, hedge funds and insurance companies. These big, organized owners are like a few large buckets holding much of the stock; their buying or selling can move the price, affect how easily shares trade, and signal confidence or concern to other investors, so changes in institutional ownership can influence market behavior and corporate decisions.

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conservatorship regulatory

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03/16/2026 - 10:13 AM

Affiliated investment vehicles hold more than 1 million shares across GSE securities, including in excess of 700,000 shares of Freddie Mac common stock

SUMMERLIN, Nevada--(BUSINESS WIRE)-- Oksenholt Capital Management LLC said affiliated investment vehicles collectively hold more than one million shares of Government-Sponsored Enterprise (GSE) securities.

The holdings include in excess of 700,000 shares of Freddie Mac common stock (OTC: FMCC) along with positions in Fannie Mae (OTC: FNMA) securities and related junior preferred shares including FNMAS, FNMAT, and FMCKJ.

“Our position sizing reflects both conviction and prudent risk management,” said Jon Oksenholt, Founder of Oksenholt Capital Management. “While we have taken profits in portions of our Fannie Mae common position, we remain bullish on both enterprises and their junior preferred securities. At present, we believe Freddie Mac common stock offers the most compelling long-term risk-reward profile within the GSE complex.”

Fannie Mae and Freddie Mac collectively support more than $7 trillion in residential and multifamily mortgage assets and generate tens of billions of dollars in annual revenue.

Based on the most recently available publicly reported institutional ownership filings, including Form 13F disclosures, Oksenholt Capital Management believes its affiliated investment vehicles rank among the largest holders of Freddie Mac common stock among reporting institutional investors.

Because the firm operates through privately managed investment vehicles that are not required to publicly disclose holdings, Oksenholt noted that the broader shareholder base likely includes many additional private investors and long-term individual shareholders whose positions are not reflected in institutional reporting data.

Institutional ownership of Freddie Mac common stock remains relatively limited due in part to the company’s current over-the-counter trading status, which restricts participation by many institutional investors.

Oksenholt noted that policymakers and enterprise leadership have made meaningful progress strengthening the financial position of the enterprises over the past year.

“We believe policymakers and enterprise leadership have made meaningful progress improving the financial condition of the GSEs and protecting taxpayer interests,” Oksenholt said. “The decision during President Donald Trump’s first administration not to pursue a forced sale of the enterprises preserved significant long-term value for U.S. taxpayers.”

Oksenholt also expressed support for the continued work of current enterprise leadership.

“We appreciate the ongoing efforts of Fannie Mae and Freddie Mac leadership teams to strengthen capital positions, improve operations, and enhance transparency,” Oksenholt added. “Those efforts to optimize the companies and run them as businesses have helped position both Fannie and Freddie for a stronger long-term future.”

Looking ahead, Oksenholt said the next phase for the enterprises should involve a transition toward market independence.

“In my view, the time has come for Fannie Mae and Freddie Mac to return to a major public exchange and begin the transition out of conservatorship,” Oksenholt said. “Well-capitalized enterprises trading on a major exchange would improve transparency, attract long-term private capital, and further align the companies with the interests of homeowners, renters, investors, and U.S. taxpayers.”

Oksenholt also noted that many shareholders of Fannie Mae and Freddie Mac are long-term individual investors who have held their shares for years following the financial crisis.

President Donald Trump previously criticized the treatment of GSE shareholders, writing that “the idea that the government can steal money from its citizens is socialism and is a travesty.”

Oksenholt said the eventual normalization of the enterprises’ capital structure could help restore confidence among investors while continuing to support the housing finance system.

Oksenholt Capital Management operates through privately managed investment vehicles that are majority or solely owned by Jon Oksenholt, aligning the firm’s investment strategy with long-term capital stewardship.

“These securities remain complex and inherently speculative investments,” Oksenholt added. “Our GSE exposure represents only a small portion of our overall equities portfolio, but we believe the long-term opportunity remains compelling.”

About Oksenholt Capital Management

Oksenholt Capital Management LLC is a privately owned investment management firm and part of the broader Oksenholt group of companies, which invest across real estate, public equities, hospitality, technology, and finance businesses.

Disclaimer:

This release is informational only and does not constitute investment advice or a recommendation to buy or sell any security. Holdings are as of the date of this release and may change without notice. Oksenholt Capital Management and its affiliates may adjust positions at any time. Investments in these securities involve significant regulatory, policy, and market risks.