FEDERAL AGRIC MTG CORP AGM
CL C · Common Stock · CUSIP 313148306
Commonly known as Farmer Mac in the United States
- SectorFinancials
- IndustryFederal & Federally-Sponsored Credit Agencies
- HeadquartersWashington, DC
- Websitefarmermac.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($760.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $175.53. Options: 6 managers hold calls ($3.9m notional), 7 hold puts ($15.5m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 165 |
| Q4 2022 | 184 |
| Q1 2023 | 184 |
| Q2 2023 | 194 |
| Q3 2023 | 199 |
| Q4 2023 | 215 |
| Q1 2024 | 232 |
| Q2 2024 | 223 |
| Q3 2024 | 238 |
| Q4 2024 | 246 |
| Q1 2025 | 249 |
| Q2 2025 | 256 |
| Q3 2025 | 241 |
| Q4 2025 | 235 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 119 | 94 |
| Q2 2024 | 100 | 109 |
| Q3 2024 | 114 | 91 |
| Q4 2024 | 103 | 105 |
| Q1 2025 | 115 | 103 |
| Q2 2025 | 117 | 103 |
| Q3 2025 | 119 | 119 |
| Q4 2025 | 96 | 120 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $7.6m | $5.0m | 0.66 |
| Q2 2025 | $7.8m | $11.4m | 1.47 |
| Q3 2025 | $7.1m | $15.4m | 2.18 |
| Q4 2025 | $3.9m | $15.5m | 4.01 |
Biggest buyers
| WELLINGTON MANAGEMENT GROUP LLP | Added | +80.9k |
| CAPTRUST FINANCIAL ADVISORS | Added | +46.3k |
| FIRST SABREPOINT CAPITAL MANAGEMENT LP | New | +44.5k |
| LOOMIS SAYLES & CO L P | Added | +43.3k |
| RAYMOND JAMES FINANCIAL INC | Added | +40.9k |
| GOLDMAN SACHS GROUP INC | Added | +38.4k |
| BARCLAYS PLC | Added | +25.4k |
| BESSEMER GROUP INC | Added | +17.2k |
| Thrivent Financial for Lutherans | Added | +16.1k |
| Balyasny Asset Management L.P. | New | +13.1k |
Biggest sellers
| FMR LLC | Reduced | -146.2k |
| Empowered Funds, LLC | Sold out | -54.8k |
| MILLENNIUM MANAGEMENT LLC | Sold out | -47.5k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -42.1k |
| CITADEL ADVISORS LLC | Reduced | -25.5k |
| JPMORGAN CHASE & CO | Reduced | -24.5k |
| MORGAN STANLEY | Reduced | -23.7k |
| Kingsview Wealth Management, LLC | Sold out | -20.5k |
| JANE STREET GROUP, LLC | Reduced | -16.5k |
| Militia Capital Partners, LP | Reduced | -16.0k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $1.4m7.7k shares |
| PEAK6 LLC | Reduced | $1.1m6.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $755.0k4.3k shares |
| D. E. Shaw & Co., Inc. | Added | $667.2k3.8k shares |
| GROUP ONE TRADING LLC | Unchanged | $17.6k100 shares |
| SIMPLEX TRADING, LLC | Reduced | $17.6k100 shares |
Biggest puts
| Caption Management, LLC | New | $4.4m25.0k shares |
| CITADEL ADVISORS LLC | Added | $3.1m17.6k shares |
| D. E. Shaw & Co., Inc. | Added | $2.8m15.8k shares |
| PEAK6 LLC | Reduced | $2.6m15.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.1m12.0k shares |
| JANE STREET GROUP, LLC | Reduced | $456.5k2.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $35.1k200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
No one currently above 5% in the filings since 19 Dec 2024.
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26), FMR LLC (3.7%, 2026-02-05)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 1 | $57.6k | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 1 | $12.4k | 3 | $1.1m | — |
| Q4 2024 | 0 | — | 8 | $4.5m | — |
| Q1 2025 | 1 | $195.6k | 3 | $2.4m | — |
| Q2 2025 | 0 | — | 3 | $1.8m | — |
| Q3 2025 | 0 | — | 3 | $1.2m | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 713.6k $125.3m | Added +6.6k |
| VANGUARD GROUP INC 0.00% of their portfolio | 584.2k $102.6m | Added +280 |
| Thrivent Financial for Lutherans 0.14% of their portfolio | 436.8k $76.7m | Added +16.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 372.0k $65.3m | Reduced -8.4k |
| CAPTRUST FINANCIAL ADVISORS 0.12% of their portfolio | 358.9k $63.0m | Added +46.3k |
| Boston Partners 0.06% of their portfolio | 345.6k $60.2m | Added +6.8k |
| FMR LLC 0.00% of their portfolio | 343.6k $60.3m | Reduced -146.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 311.6k $54.7m | Reduced -5.2k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 300.2k $52.7m | Added +11.5k |
| Capital World Investors 0.01% of their portfolio | 275.8k $48.4m | Unchanged |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 262.9k $46.2m | Added +80.9k |
| Copeland Capital Management, LLC 0.94% of their portfolio | 240.9k $42.3m | Reduced -13.3k |
| LOOMIS SAYLES & CO L P 0.05% of their portfolio | 225.3k $39.6m | Added +43.3k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 223.7k $39.4m | Added +40.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 221.1k $38.8m | Reduced -1.3k |
| STATE STREET CORP 0.00% of their portfolio | 209.3k $36.7m | Added +2.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 116.5k $20.5m | Reduced -5.6k |
| RICE HALL JAMES & ASSOCIATES, LLC 1.09% of their portfolio | 112.4k $19.7m | Added +2.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 107.7k $18.9m | Added +1.7k |
| WEYBOSSET RESEARCH & MANAGEMENT LLC 5.64% of their portfolio | 104.1k $18.3m | Reduced -886 |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 87.3k $15.3m | Added +38.4k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.26% of their portfolio | 71.2k $12.5m | Added +1.1k |
| MORGAN STANLEY 0.00% of their portfolio | 68.0k $11.9m | Reduced -23.7k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 67.2k $11.8m | Reduced -2.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 65.1k $11.4m | Reduced -8.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 59.9k $10.5m | Added +7.3k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 48.6k $8.5m | Added +5.9k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 47.6k $8.4m | Reduced -12.0k |
| UBS Group AG 0.00% of their portfolio | 46.1k $8.1m | Added +12.6k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 45.5k $8.0m | Added +7.9k |
| FIRST SABREPOINT CAPITAL MANAGEMENT LP 3.21% of their portfolio | 44.5k $7.8m | New |
| Man Group plc 0.01% of their portfolio | 43.6k $7.6m | Reduced -3.9k |
| BARCLAYS PLC 0.00% of their portfolio | 41.7k $7.3m | Added +25.4k |
| Barnett & Company, Inc. 5.35% of their portfolio | 37.8k $6.6m | Reduced -325 |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 35.5k $6.2m | Added +9.0k |
| ProShare Advisors LLC 0.01% of their portfolio | 35.4k $6.2m | Added +3.5k |
| CROWN ADVISORS MANAGEMENT, INC. 4.04% of their portfolio | 35.0k $6.1m | Reduced -10.0k |
| Ballast Asset Management, LP 2.90% of their portfolio | 35.0k $6.1m | Reduced -1.3k |
| Militia Capital Partners, LP 1.07% of their portfolio | 32.0k $5.6m | Reduced -16.0k |
| Nuveen, LLC 0.00% of their portfolio | 30.9k $5.4m | Reduced -6.9k |
| CSM Advisors, LLC 0.14% of their portfolio | 29.5k $5.2m | Added +30 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 28.1k $4.9m | Added +4.0k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 27.3k $4.8m | Added +8.4k |
| FIRST WILSHIRE SECURITIES MANAGEMENT INC 1.18% of their portfolio | 26.6k $4.7m | Added +72 |
| GW&K Investment Management, LLC 0.04% of their portfolio | 24.6k $4.3m | Reduced -1.2k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 23.0k $4.0m | Added +428 |
| Empirical Finance, LLC 0.19% of their portfolio | 22.4k $3.9m | Added +6.0k |
| BESSEMER GROUP INC 0.01% of their portfolio | 19.7k $3.5m | Added +17.2k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 18.5k $3.3m | Added +354 |
| Swiss National Bank 0.00% of their portfolio | 18.5k $3.2m | Added +300 |
| Pullen Investment Management, LLC 1.65% of their portfolio | 17.8k $3.1m | Reduced -122 |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 17.7k $3.1m | Reduced -2.2k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 17.1k $3.0m | Reduced -16.5k |
| Matthew 25 Management Corp 0.91% of their portfolio | 17.0k $3.0m | Unchanged |
| Global Alpha Capital Management Ltd. 0.18% of their portfolio | 16.9k $3.0m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 16.5k $2.9m | Reduced -24.5k |
| Ancora Advisors LLC 0.06% of their portfolio | 16.2k $2.8m | Reduced -7.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 16.0k $2.8m | Added +1.3k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 15.9k $2.8m | Reduced -6.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 15.9k $2.8m | Reduced -2.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 15.5k $2.7m | Added +11.1k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 15.5k $2.7m | Added +25 |
| Invesco Ltd. 0.00% of their portfolio | 15.4k $2.7m | Added +684 |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 13.1k $2.3m | New |
| CARY STREET PARTNERS FINANCIAL LLC 0.06% of their portfolio | 13.0k $2.3m | Added +2.1k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 12.4k $2.2m | Reduced -2.1k |
| Sequoia Financial Advisors, LLC 0.01% of their portfolio | 11.9k $2.1m | Added +2 |
| HighTower Advisors, LLC 0.00% of their portfolio | 11.1k $2.0m | Reduced -918 |
| LPL Financial LLC 0.00% of their portfolio | 10.9k $1.9m | Added +2.9k |
| Jefferies Financial Group Inc. 0.01% of their portfolio | 10.3k $1.8m | New |
| WEDBUSH SECURITIES INC 0.05% of their portfolio | 10.2k $1.8m | Added +2.5k |
| Riverwater Partners LLC 0.69% of their portfolio | 10.2k $1.8m | Added +3.3k |
| Caption Management, LLC 0.08% of their portfolio | 10.0k $1.8m | New |
| SG Americas Securities, LLC 0.00% of their portfolio | 9.9k $1.7m | Added +2.6k |
| Legal & General Group Plc 0.00% of their portfolio | 9.8k $1.7m | Reduced -746 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 9.7k $1.7m | Added +723 |
| Creative Planning 0.00% of their portfolio | 9.6k $1.7m | Reduced -221 |
| Cruiser Capital Advisors, LLC 1.72% of their portfolio | 9.2k $1.6m | Unchanged |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 8.9k $1.6m | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 8.6k $1.5m | Reduced -9 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 8.5k $1.5m | Reduced -25.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 7.7k $1.4m | Reduced -4.9k |
| Applied Capital LLC/FL 0.90% of their portfolio | 7.5k $1.3m | Added +844 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 7.1k $1.2m | Reduced -9.1k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio | 6.8k $1.2m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 6.4k $1.1m | Added +671 |
| HUDSON EDGE INVESTMENT PARTNERS INC. 0.16% of their portfolio | 6.0k $1.1m | Added +126 |
| Cetera Investment Advisers 0.00% of their portfolio | 5.9k $1.0m | Reduced -46 |
| M&T Bank Corp 0.00% of their portfolio | 5.8k $1.0m | Reduced -12 |
| Jump Financial, LLC 0.01% of their portfolio | 5.6k $986.2k | Added +2.0k |
| CAPITAL ADVISORY GROUP ADVISORY SERVICES, LLC 0.29% of their portfolio | 5.6k $981.3k | Reduced -2.1k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 5.4k $947.0k | Reduced -527 |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 5.3k $933.0k | Reduced -219 |
| MetLife Investment Management, LLC 0.00% of their portfolio | 5.1k $890.7k | Reduced -417 |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 4.9k $863.6k | Added +575 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 4.9k $860.3k | Unchanged |
| EVERETT HARRIS & CO /CA/ 0.01% of their portfolio | 4.8k $837.8k | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 4.6k $809.6k | Reduced -165 |
| JAMES INVESTMENT RESEARCH, INC. 0.09% of their portfolio | 4.6k $801.8k | Reduced -1.6k |
| KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio | 4.4k $766.4k | Added +444 |