Loading…
Wednesday, August 27, 2014
Current Weather
Loading Current Weather....
Published: Saturday, 11/16/2013 - Updated: 9 months ago

BUSINESS BRIEF

Activist admits stakes in U.S. Fannie, Freddie

BLADE NEWS SERVICES

NEW YORK — Activist investor Bill Ackman’s company has disclosed stakes in government-controlled mortgage giants Fannie Mae and Freddie Mac.

In regulatory filings on Friday, Pershing Square Capital Management LP said it has a 9.98 percent stake in Fannie and a 9.77 percent stake in Freddie.

Earlier this month Fannie Mae and Freddie Mac reported strong third-quarter earnings as the U.S. housing market continues to recover. The government rescued Fannie and Freddie at the height of the financial crisis in 2008 when both veered toward collapse under the weight of losses on risky mortgages. The gradual recovery of the housing market has made Fannie and Freddie profitable again.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories







Poll