Over-the-counter shares of mortgage giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) surge after investor Bill Ackman says the stocks are cheap and could surge soon
“Fannie and Freddie are stupidly cheap. Asymmetry at its best. They could be a 10X and it could happen soon,” Ackman says in a post on X.com
FNMA shares last up 28.4% at $6.24, while FMCC shares jump 24.8% to $5.47
Fannie and Freddie, created by the U.S. Congress to support the housing market, have been under government control since their bailout during the global financial crisis of 2008
Federal Housing Finance Agency Director William Pulte said in October 2025 that the Trump administration evaluating an IPO for the companies possibly as soon as the end of 2025, which Ackman had said in November 2025 is not possible in the short term
U.S. President Donald Trump ordered both companies in January 2026 to buy $200 billion in mortgage bonds, which analysts said raises doubts about their IPO plans

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Reuters

JPMorgan Mortgage-Backed Securities ETF

John Hancock Mortgage-Backed Securities ETF

Schwab® Mortgage-Backed Securities ETF

iShares Barclays MBS Fixed Rate Bd

Federal National Mortgage Association

Janus Henderson Mortgage Backed Securities

Janus Henderson Asset-Backed Secs ETF

DoubleLine Asset-Backed Securities ETF

VanEck Mortgage REIT Income ETF

SPDR Portfolio Mortgage Backed Bond ETF

PIMCO Mortgage-Backed Securities Act ETF

Freddie Mac

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Vanguard Mortgage Backed Sec

BUZZ-OTC shares of Fannie Mae, Freddie Mac surge after investor Ackman says shares could surge soon