Every material Form 8-K AGNC Investment has filed with the SEC since July 19, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
AGNC Investment Corp. reported a third-quarter 2026 net loss of $1.17 per common share and a comprehensive loss of $1.28 per share, driven by a $5.0 billion unrealized loss on investment securities. Tangible net book value per share fell 16.9% to $7.13 from $8.58 on June 30, 2026, and the company's economic return on tangible common equity was -12.7% after $0.36 in dividends declared. The results matter to shareholders because book value per share dropped sharply, while the company raised $992 million by issuing 97.6 million common shares.
Net loss of $(1,357) million, or $(1.17) per common share, for the quarter ended September 30, 2026, compared with net income of $654 million in the prior quarter
Tangible net book value per common share fell $1.45, or 16.9%, to $7.13 as of September 30, 2026
Net spread and dollar roll income was $0.37 per common share, down from $0.40 in the prior quarter
Issued 97.6 million common shares through at-the-market offerings for net proceeds of $992 million
AGNC Investment Corp. disclosed a September 10, 2026 amendment to the employment agreement of Executive Chair Gary Kain, setting a $1,300,000 target annual cash bonus and a $1,500,000 target annual long-term equity award starting in 2027. The base salary, termination payments and restrictive covenants are unchanged, so the filing mainly alters incentive pay tied to future performance.
Annual cash bonus target of $1,300,000 for 2027 and later years, payable from 0% to 200% of target, expected in Q1 of the following year
Annual long-term incentive award target of $1,500,000 in company stock starting in 2027, subject to Board approval
67% of the equity award vests on three-year performance metrics; 33% vests annually over three years
Base salary, termination payments and restrictive covenants are unchanged
AGNC Investment Corp. reported second quarter 2026 comprehensive income of $0.52 per share, compared with a loss of $(0.18) per share in the first quarter. Tangible net book value rose to $8.58 per share from $8.38, and the economic return on tangible common equity was 6.7%. Net spread and dollar roll income, a non-GAAP measure, edged down to $0.40 per share from $0.42.
Net income of $0.52 per diluted share for the quarter, versus a net loss of $(0.17) per share in the first quarter of 2026
Net spread and dollar roll income of $0.40 per share, down from $0.42 in the first quarter
Tangible net book value of $8.58 per share as of June 30, 2026, up from $8.38 on March 31, 2026; dividends declared were $0.36 per share
Issued 16.2 million shares through at-the-market offerings for net proceeds of $167 million
AGNC Investment Corp. reported a first-quarter 2026 net loss of $0.17 per common share and a total comprehensive loss of $0.18 per share, compared with net income of $0.83 per share in the fourth quarter of 2025. Tangible net book value fell 5.6% to $8.38 per share, and the economic return on tangible common equity was -1.6% after $0.36 in declared dividends, so shareholders saw book value decline even as net spread income improved.
Net spread and dollar roll income rose to $0.42 per share from $0.35 in the prior quarter, driven by a 25 basis point increase in the net interest spread.
Tangible net book value per share decreased $0.50, from $8.88 on December 31, 2025, to $8.38 on March 31, 2026.
The company issued 38.0 million common shares through at-the-market offerings for net proceeds of $401 million during the quarter.
Management attributed the quarter's results to wider mortgage spreads in March amid conflict in Iran and the Middle East.
AGNC Investment Corp. reported fourth-quarter 2025 results on January 26, 2026. Comprehensive income was $0.89 per common share, up from $0.78 in the prior quarter, and tangible net book value rose 7.2% to $8.88 per share. Net spread and dollar roll income, a non-GAAP measure, was $0.35 per share, unchanged from the prior quarter, and the company declared a $0.36 dividend per share.
Comprehensive income of $0.89 per share, including $0.83 net income and $0.06 other comprehensive income, versus $0.78 in the third quarter of 2025
Tangible net book value of $8.88 per share as of December 31, 2025, up from $8.28 on September 30, 2025; economic return on tangible common equity was 11.6%
Net spread and dollar roll income of $0.35 per share, unchanged from the prior quarter; at-risk leverage fell to 7.2x from 7.6x
Issued 34.9 million common shares through at-the-market offerings for net proceeds of $356 million
AGNC Investment Corp. increased its board from nine to ten members and appointed Morris A. Davis as a director effective January 12, 2026. Davis, a housing economist and former AGNC director from 2008 to 2025, also joined the Compensation and Corporate Governance Committee.
Morris A. Davis appointed to the board effective January 12, 2026, serving until the 2026 annual meeting
Board size increased from nine to ten members
Davis elected to the Compensation and Corporate Governance Committee
Davis previously served on the board from May 2008 to March 2025 before joining the Council of Economic Advisors
AGNC Investment Corp. increased its board from eight to nine members and appointed Christine L. Hurtsellers as a director, effective immediately, with a term running to the 2026 annual meeting. She was also named to the Audit Committee, which adds a director with fixed income and risk management experience to oversight of financial reporting.
Board appointment made at a meeting held December 9, 2025; board size rose from eight to nine members
Hurtsellers was previously CEO of Voya Investment Management from 2016 through 2024, a firm with over $360 billion in assets under management
She joins the Audit Committee and will receive non-employee director compensation, with a standard indemnification agreement to follow
AGNC Investment Corp. reported third-quarter 2025 results, with net income of $806 million, or $0.72 per diluted share, compared with a net loss of $140 million in the prior quarter. Tangible net book value per common share rose 6.0% to $8.28, and the economic return on tangible common equity was 10.6%. Net spread and dollar roll income fell to $0.35 per share from $0.38, and the company raised $345 million of preferred stock and $309 million in net common equity proceeds.
Net income of $806 million, or $0.72 per diluted share, versus a net loss of $140 million, or $(0.17) per share, in Q2 2025
Tangible net book value per common share of $8.28 as of September 30, 2025, up from $7.81 on June 30, 2025
Net spread and dollar roll income of $0.35 per common share, down from $0.38 in the prior quarter; quarterly common dividend declared was $0.36 per share
Issued $345 million of 8.75% Series H preferred stock and 31.0 million common shares through at-the-market offerings for net proceeds of $309 million
AGNC Investment Corp. reported a second-quarter 2025 net loss of $(0.17) per common share, compared with $0.02 in the first quarter, and a comprehensive loss of $(0.13) per share after other comprehensive income. Tangible net book value fell to $7.81 per share from $8.25 at March 31, producing an economic return of -1.0% on tangible common equity, which shareholders absorb through lower book value even though the $0.36 quarterly dividend was maintained.
Net loss per common share of $(0.17) for Q2 2025, versus $0.02 per share for Q1 2025
Tangible net book value per share of $7.81 at June 30, 2025, down 5.3% from $8.25 at March 31, 2025
Net spread and dollar roll income of $0.38 per share, down from $0.44 in the prior quarter
Dividends declared of $0.36 per share for the quarter; the company raised $799 million net through at-the-market offerings by issuing 92.6 million shares
AGNC Investment Corp. reported first-quarter 2025 comprehensive income of $0.12 per common share, made up of $0.02 net income and $0.10 other comprehensive income. Tangible net book value per share fell 1.9% to $8.25, but the company's net spread and dollar roll income rose to $0.44 per share from $0.37 in the prior quarter, and it declared $0.36 in dividends.
Comprehensive income of $0.12 per common share, including $0.02 net income per common share, versus $(0.11) comprehensive loss per share in Q4 2024
Tangible net book value per common share of $8.25 at March 31, 2025, down from $8.41 at December 31, 2024
Net spread and dollar roll income of $0.44 per common share, up from $0.37 in the prior quarter; dividends declared of $0.36 per share
Issued 49.7 million shares through at-the-market offerings for net proceeds of $509 million; tangible 'at risk' leverage ended the quarter at 7.5x
AGNC Investment Corp. released preliminary first quarter 2025 estimates, including total comprehensive income of $0.12 per common share and tangible net book value of $8.25 per share as of March 31, 2025. Tangible net book value per share was estimated to decrease by $0.16 in the quarter, and dividends declared of $0.36 per share were larger than the comprehensive income estimate. The estimates are unaudited, and full first quarter results are due April 21, 2025.
Estimated total comprehensive income of $0.12 per common share for the first quarter of 2025.
Estimated tangible net book value of $8.25 per share as of March 31, 2025, after an estimated $0.16 per share decrease in the quarter.
Dividends declared of $0.36 per share; estimated economic return on tangible common equity of 2.4% for the quarter.
Full first quarter 2025 results will be reported after market close on April 21, 2025.
AGNC director Morris A. Davis resigned effective immediately and will not stand for re-election, citing his appointment to the White House Council of Economic Advisers, and the Board reduced its size from nine to eight members effective March 17, 2025. The company also amended the employment agreement of Christopher J. Kuehl, its Head of Investment Research and Strategy, setting a target annual bonus of at least $1,350,000 and a long-term incentive award of at least $675,000, and reducing his severance multiple from 1.5x to 1.0x.
Morris A. Davis resigned from the Board on March 16, 2025; he will not stand for re-election at the April 17, 2025 annual meeting
Board size reduced from nine to eight members effective March 17, 2025
Christopher J. Kuehl's target annual cash bonus is at least $1,350,000 for 2025 and later years
Severance for Kuehl reduced from 1.5x to 1.0x base salary and target bonus on termination without cause or for good reason
AGNC Investment Corp. reported a fourth-quarter 2024 comprehensive loss of $(0.11) per share, versus comprehensive income of $0.64 per share in the prior quarter. Tangible net book value fell 4.6% to $8.41 per share, and the company declared a $0.36 dividend, producing a -0.6% economic return on tangible common equity for the quarter.
Net income was $0.10 per common share, down from $0.39 in the third quarter; other comprehensive loss was $(0.20) per share.
Tangible net book value per share was $8.41 as of December 31, 2024, down from $8.82 on September 30, 2024.
Net spread and dollar roll income was $0.37 per share, compared with $0.43 in the prior quarter.
The company issued 53.2 million shares through at-the-market offerings for net proceeds of $511 million.
AGNC Investment Corp. reported third quarter 2024 results on October 21, 2024, with comprehensive income of $0.63 per share and net income of $0.39 per share, compared with a net loss of $(0.11) per share in the prior quarter. Tangible net book value per share rose 5.0% to $8.82 from $8.40, and the company declared a $0.36 per share dividend, but net spread and dollar roll income fell to $0.43 per share from $0.53.
Net income of $346 million, or $0.39 per share, versus a net loss of $(48) million in the second quarter of 2024
Tangible net book value per share of $8.82 as of September 30, 2024, up from $8.40 as of June 30, 2024
Net spread and dollar roll income of $0.43 per share, down from $0.53 per share in the prior quarter
Issued 78.1 million common shares through at-the-market offerings for net proceeds of $781 million
AGNC Investment Corp. reported a second-quarter 2024 comprehensive loss of $(0.13) per common share, including a $(0.11) net loss per share, compared with net income of $0.59 per share in the first quarter. Tangible net book value per share fell 5.0% to $8.40 as of June 30, 2024, and the economic return on tangible common equity was -0.9% after $0.36 in dividends, so shareholders' per-share book value declined during the quarter.
Net loss of $(0.11) per common share in Q2 2024, versus net income of $0.59 per share in Q1 2024
Tangible net book value per share of $8.40 at June 30, 2024, down from $8.84 at March 31, 2024
Economic return of -0.9% for the quarter: $0.36 dividends offset by a $(0.44) decrease in tangible net book value per share
Issued 45.8 million shares through at-the-market offerings for net proceeds of $434 million; unencumbered cash and Agency MBS totaled $5.3 billion
AGNC Mortgage Management entered into an amended and restated employment agreement with Executive Chair Gary Kain, effective January 1, 2025, with a 12-month initial term that renews annually. The filing sets a 2025 target annual cash bonus of $1.8 million and an annual long-term incentive award of $2.1 million at target, and says base salary and severance terms are unchanged.
Agreement dated July 18, 2024; effective January 1, 2025, with an initial term ending December 31, 2025
Annual cash bonus target of $1,800,000 for 2025 and later years, payable from 0%-200% of target based on performance measures
Annual long-term incentive awards with a target grant value of $2,100,000; 67% performance-based over three years, 33% time-vesting over three years
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