HIGHOutside partyCounterparty
90.6%
top-3 AgVantage issuers
“10-K Item 1A: 'approximately 90.6% of the $8.4 billion outstanding principal amount of AgVantage securities...were issued by three institutions'”
AGM · Concentration risk · 10-K extracted
Federal Agricultural Mortgage C (AGM) concentration risks
Updated
The most significant concentration Federal Agricultural Mortgage C discloses is top-3 AgVantage issuers at 90.6%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Federal Agricultural Mortgage C’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
55%
top-10 Agricultural Finance institutions
“10-K Item 1A: 'In 2025, ten institutions generated approximately 55% of loan purchase volume in the Agricultural Finance line of business'”
HIGHOutside partyCustomer
two Infrastructure Finance institutions
“10-K Item 1A: 'transactions with two institutions represented nearly all of the business volume under our Infrastructure Finance line of business'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24Federal Agricultural Mortgage Corporation (Farmer Mac) carries three high-share concentration exposures that span its core business lines, each reflecting a dependency on a narrow set of institutional counterparties rather than on any structural market feature. The most quantitatively precise is the AgVantage program: approximately 90.6% of the $8.4 billion outstanding principal amount of AgVantage securities were issued by three institutions. This is the largest disclosed exposure — a large share of the AgVantage portfolio concentrated in just three issuers, meaning the credit and operational performance of those counterparties has an outsized influence on this segment. In the Agricultural Finance lending line, ten institutions generated approximately 55% of loan purchase volume in 2025 — a large share of origination flowing through a handful of lenders. A pullback, credit deterioration, or loss of a key originating institution from the top ten would reduce purchase volume proportionally, as the pipeline is not broadly distributed across a long tail of smaller institutions. The Infrastructure Finance line presents the most concentrated picture in relative terms: transactions with two institutions represented nearly all of the business volume under that program. While no specific percentage is disclosed, the "nearly all" characterization makes this an effective single-counterparty risk at the segment level. Across all three business lines, the disclosed concentrations are dependency-driven rather than structural: they reflect how origination and issuance happen to be distributed among institutional participants, not the inherent composition of the underlying collateral markets. The institutional counterparty relationships are the primary variables to monitor in each segment.
For the engine’s reasoning on AGM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Credit Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AGM● | Federal Agricultural Mortgage C | 3 | 0 | 0 | 3 |
| AGM-A | Federal Agricultural Mortgage C | 3 | 0 | 0 | 3 |
| AFRM | Affirm Holdings, Inc. | 2 | 1 | 0 | 3 |
| AXP | American Express Company | 0 | 3 | 1 | 4 |
| BFH | Bread Financial Holdings, Inc. | 0 | 2 | 3 | 5 |
| ALLY | Ally Financial Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.