MEDIUMBuilt-inProduct / Revenue mix
Agency RMBS
“10-K Item 1: 'maintain an investment portfolio consisting predominantly of Agency RMBS'”
AGNC · Concentration risk · 10-K extracted
AGNC Investment (AGNC) concentration risks
Updated
The most significant concentration AGNC Investment discloses is Agency RMBS, classified MEDIUM 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.
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Source: AGNC Investment’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM2
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).
MEDIUMOutside partyCounterparty
FICC GCF Repo service
“10-K Item 1: 'the FICC's GCF Repo service, which represents a significant portion of our total borrowing capacity'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24AGNC Investment Corp.'s disclosed concentration profile consists of two moderate exposures — one on the asset side and one on the funding side — that are structurally linked by the company's business model as a leveraged mortgage REIT. The investment portfolio is maintained predominantly in Agency RMBS — a moderate concentration in a single asset class by disclosed size with a structural character. Agency RMBS is the company's defined investment mandate rather than an incidental portfolio tilt, so this exposure reflects a deliberate strategic positioning rather than an idiosyncratic dependency. The primary risk channels are interest rate duration, prepayment speeds, and spread widening — macro-driven forces that affect the entire Agency RMBS market rather than a single counterparty or issuer. On the funding side, the FICC's GCF Repo service represents a significant portion of the company's total borrowing capacity — a moderate dependency by disclosed size with an idiosyncratic character. Reliance on a specific clearing facility for a meaningful share of short-term funding concentrates liquidity risk in a single operational channel. If the GCF Repo service were disrupted — through clearing house operational issues, rule changes, or a broader repo market dislocation — the company's access to its primary funding mechanism would be impaired at a time when it might need to roll or reduce leverage. The two exposures are structurally coupled: the Agency RMBS portfolio is funded largely through short-term repo, meaning a disruption on the funding side would directly affect the ability to carry the asset-side concentration. Together they define a leverage-dependent model where both sides of the balance sheet are concentrated, and the stability of the GCF Repo facility is the variable most likely to move results in a stress scenario.
For the engine’s reasoning on AGNC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Mortgage
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ABR | Arbor Realty Trust | 2 | 0 | 2 | 4 |
| BXMT | Blackstone Mortgage Trust, Inc. | 1 | 0 | 0 | 1 |
| AGNC● | AGNC Investment Corp. | 0 | 2 | 0 | 2 |
| AGNCM | AGNC Investment Corp. - Deposit | 0 | 2 | 0 | 2 |
| ARR | ARMOUR Residential REIT, Inc. | 0 | 1 | 0 | 1 |
| AGNCN | AGNC Investment Corp. - Deposit | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.