We're seeing what a small float and automatic index inclusion does to price action with SpaceX.... What do you think happens to $fnma $fmcc when they run a similar play book? Hint: $60 /share @BillAckman @pulte

An update on Pershing Square USA, Ltd. $PSUS:   Since its IPO on April 29th, PSUS has deployed nearly 85% of its capital in 12 companies including Amazon, Microsoft, UBER, Meta, Brookfield, Restaurant Brands, Fannie Mae and Freddie Mac at prices we believe to be extremely attractive.   The PSUS portfolio, along with the other Pershing Square funds, also includes four new companies, which we will disclose at the time of our second quarter report.   As a result of our investment activity over the last six weeks, we believe the PSUS portfolio is now invested in a number of the highest quality durable growth companies in the world, which are trading near their all-time lowest valuations.   Furthermore, as of this moment, PSUS is trading at a ~20% discount to the net asset value (NAV) of its underlying holdings so a buyer of the stock at today’s price is acquiring the current portfolio at a double discount. We believe the PSUS discount to NAV has emerged due to short-term technical factors related to the IPO that should moderate over time.   Pershing Square management and affiliates are all-in, having acquired more than ten million shares or $500 million of PSUS in the IPO and in the market thereafter. 
In summary, we believe PSUS and its portfolio holdings represent an extremely attractive bargain at today’s share price and we have put our money where our mouth is.

President @realDonaldTrump continues to make the world safer, today reaching a historic peace deal with Iran. His leadership, along with his direct engagement with allies and adversaries alike, will be recorded in history books for centuries to come.

$FNMA $FMCC More hints! I think this is the summer that the GSE's are finally freed from conservatorship. truthsocial.com/@realDonaldT…

somebody just purchased in a SINGLE lot (probably limit buy) 2 million $fnma shares .... something is happenings... Fannie Mae is ready to be BIG !!!

5/4 @Mizuho Initiates coverage $FNMA $10 BUY 5/29 @RobinhoodApp $FNMA $FMCC trading - broke it's rule not allowing OTCQB (see why) 6/4 $HOOD PDT rule change Day 1 ready 6/5 Trump $10T 9% $FNMA $FMCC 6/11 Trump "10T" 4x 6/12 $SPCX $1.8T IPO (100M/90M retail)

𝗗𝗼𝗻𝗮𝗹𝗱 𝗝. 𝗧𝗿𝘂𝗺𝗽 𝗧𝗿𝘂𝘁𝗵 𝗦𝗼𝗰𝗶𝗮𝗹 𝗣𝗼𝘀𝘁 - 𝟬𝟵:𝟯𝟬 𝗔𝗠 𝗘𝗦𝗧 𝟬𝟲.𝟭𝟬.𝟮𝟲 Wow! CITI was ranked Number 1 in topping M&A Advisory Market by Value in Q1. Congratulations to Jane F and ALL of her great people. They’ve worked really hard! BIG comeback for CITI!!! President DONALD J. TRUMP

Trump reiterates Fannie & Freddie could be worth $1T.

$FNMA $FMCC Enjoy @realDonaldTrump's "Trillion Dollar" hat trick montage! 3 trillion dollar references to Fannie Mae & Freddie Mac in less than a week. We have officially entered into the phase of conditioning the public for what's coming. Keep doubting if you like.😊 GLTA.

Sometimes investing is really that easy. open.substack.com/pub/michae…

A must watch, superb, long-form interview with Secretary Bessent by the All-In crew in which Fannie and Freddie are discussed as potential core assets in a U.S. sovereign wealth fund, which I discuss below: The only credible scenario where Fannie Mae and Freddie Mac (“F2”) become core assets of a sovereign wealth fund in the @realDonaldTrump administration is a world in which they emerge from conservatorship respecting the shareholders’ place in the hierarchy of claims. Those that suggest the government will simply convert their already paid off senior preferred stock (“SPS”) into common stock diluting shareholders are missing a few facts: (1) The SPS has already received $301 billion, $25 billion more than it was contractually entitled to receive, and the excess $25 billion was paid to the government more than five years ago. In other words, the SPS has been fully retired with interest plus a $25 billion overpayment, considerably more in today’s dollars. (2) Those who argue that the government won’t forgive an asset that currently sits on its balance sheet (as the government did not credit the cash flow sweep payments against the SPS at the time they were paid) have not considered that the government, as the owner of penny warrants on 79.9% of the common stock of both companies, will recover 79.9 cents of every ‘forgiven’ dollar of senior preferred. When you wipe out a liability of a company in which you own 79.9% of the common stock as the residual claimant, you immediately recover 79.9% of the erased liability, in this case, in the increased value of the government’s warrants. (3) The future value of the $25 billion overpayment to the SPS by the time of F2’s exit from conservatorship is of greater future value than the 21.1% of F2 that will go to public shareholders from the ‘forgiven’ SPS, which fully compensates the government for any ‘leakage’ to shareholders from the public’s 21.1% ownership. (4) If the government massively dilutes shareholders by converting the SPS to common stock and does not credit the $301 billion cash flow sweep payments and $25 billion overpayment, the trading values of F2 will be permanently impaired, making F2 a poor core asset for a sovereign wealth fund. What investor, institutional, retail or otherwise will assign a fair value to a company controlled by the government which wiped out the previous investors in the company? F2 common stock is held by many millions of retail and institutional investors who are @realDonaldTrump supporters. The President has a track record in looking after his constituents and keeping his promises, most notably here in a public letter in 2021 committing to F2’s release from conservatorship. I would not expect him to act differently here. Lastly, Secretary Bessent’s idea of making Fannie and Freddie core assets of a new U.S. sovereign wealth fund is a superb one. Over the very long term, Fannie and Freddie represent a royalty on first mortgages secured by the US housing market, which is a low-risk, high risk-adjusted return investment that will generate large and growing dividends that can be invested in other sovereign fund assets. The long term returns on F2 will significantly exceed the cost of U.S. Treasurys enabling our country to deleverage over time. $36 Trillion of debt and growing is a frightening liability for the future. We can address our country’s solvency problem by reducing spending and government waste, but also by increasing the asset side of our country’s balance sheet. F2 can be an important part of the solution. And the stocks of both companies will trade at a substantially higher price with the US government shares no longer being part of the overhang. Our model assumed the government would be selling its shares ratably over the five years after emergence from conservatorship.