Our Story

At AGNC, opportunity is an asset.

AGNC was formed in May 2008 – in the midst of the Great Financial Crisis – when our founders saw an opportunity to create a best-in-class Agency MBS investor with a differentiated approach.

Since then, we have navigated a myriad of market cycles, exogenous events, and macroeconomic volatility, producing exceptional long-term returns for our stockholders and facilitating American homeownership.

Since inception, AGNC has prioritized the responsible stewardship of our investors’ capital, as demonstrated by our industry-leading operating efficiency, a recognized commitment to transparency, and a long-standing stockholder-focused approach to capital management.

$8.7B
Stockholders’ Equity
1.23%
Operating Cost Structure

 Our dynamic portfolio management strategy – which combines asset selection expertise, competitive funding advantages, and disciplined risk management – has proven resilient across market cycles, highlighting the durability of our Agency-focused business model.

$66.0B
Investment Portfolio
97%
Fixed Rate Agency MBS

Our business model and investment expertise facilitate wealth creation from two perspectives – for our stockholders that benefit from substantial monthly dividend income and for the homeowners that our investments support.

$13B+
Dividends Paid Since Inception
310,000+
Homes Financed

Our MissIon

Generate attractive yield-driven total returns for our stockholders through responsible investments in Agency MBS, which in turn supports the American economy and promotes social mobility through increased access to homeownership.

Our Core Values

Stewardship

Our commitment to responsible stewardship of our investors’ capital is unwavering, and we value our ability to connect our stockholders to a highly impactful asset class.

Specialization

Since inception, we have maintained our core specialization in Agency MBS investments, becoming an industry leader in this asset class with a remarkable track record of long-term stockholder returns.

Transparency

We have long been recognized for our distinguished platform that provides comprehensive financial disclosure, transparent communications, and a stockholder-focused approach to capital management.

Collaboration

Our employees are our greatest asset, and our collaborative environment promotes engagement, inclusivity, and curiosity, which in turn drives innovation and enhances operational performance.

Our History

  • AGNC completes $300M IPO and concurrent private placement and is added to the Russell 3000 Index
  • Peter Federico, Gary Kain, and Christopher Kuehl join AGNC
  • AGNC introduces Dividend Reinvestment Plan and Direct Stock Purchase Plan to benefit retail stockholders
  • AGNC surpasses $5B in equity capital
  • AGNC successfully navigates the “taper tantrum” of 2013, the first significant market downturn following the end of the Great Financial Crisis
  • AGNC announces change from quarterly to monthly common stock dividends
  • AGNC forms Bethesda Securities, our captive FINRA member broker-dealer with direct access to the FICC, which significantly enhances our competitive funding advantages
  • AGNC internalizes our management structure through the acquisition of our external manager, establishing an industry-leading cost structure
  • As an internally managed company, AGNC adopts a stockholder-aligned incentive compensation program and begins providing extensive executive compensation disclosure
  • AGNC’s Chairman and CEO roles are split
  • AGNC expands our investment strategy to include credit-sensitive assets to supplement our Agency MBS portfolio
  • AGNC navigates the global COVID-19 pandemic, proactively responding to rapidly deteriorating financial markets while maintaining business continuity and prioritizing employee well-being
  • Nareit awards AGNC multiple Investor CARE Awards, recognizing AGNC’s transparent and effective stockholder communications
  • AGNC receives Great Place to Work Certifications™, recognizing AGNC’s commitment to providing employees a positive, engaging, and supportive work environment
  • AGNC seamlessly completes leadership succession plan – Peter Federico transitions to CEO, Gary Kain to Executive Chairman, and Christopher Kuehl to CIO
  • AGNC begins publishing annual ESG reports with supplementary disclosures under SASB and TCFD frameworks

Our People

Our seasoned management team is comprised of financial services experts with decades of experience successfully navigating the mortgage finance market and managing levered Agency MBS portfolios and other mortgage-related investments throughout market cycles.

Affiliates

Our broker-dealer subsidiary

Our corporate venture capital platform