By Corrie Driebusch

Bill Ackman's big plan for Fannie Mae and Freddie Mac: don't do an IPO right now.

The Trump administration for months has been discussing plans to list the mortgage giants' stocks, and the CEOs of the six largest banks in the country have pitched the president to be a part of the offering.

The billionaire investor has a different idea he pitched to an audience on X Tuesday. Instead of selling stock, the Treasury should agree to cancel the government's senior preferred shares and exercise its warrants to purchase nearly 80% of Fannie Mae and Freddie Mac common stock. Fannie and Freddie could then move their shares from the over-the-counter market to the New York Stock Exchange, Ackman said.

This re-listing could happen as soon as this year, Ackman said.

Ackman's plan benefits common stock holders, and a large one of those happens to be his own hedge fund Pershing Square.

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(END) Dow Jones Newswires

November 18, 2025 12:38 ET (17:38 GMT)

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