AGNC Investment Corp. functions as a Real Estate Investment Trust (REIT) within the United States, specializing in the residential mortgage market. Its primary investments include residential mortgage-backed securities and collateralized mortgage obligations, all of which benefit from principal and interest payments guaranteed by either a U.S. government-sponsored entity or a direct U.S. government agency. The company primarily finances these investments through secured borrowing arrangements, specifically repurchase agreements. By electing REIT status under the Internal Revenue Code of 1986, AGNC can largely avoid federal corporate income tax, provided it distributes at least 90% of its taxable earnings to its shareholders. The firm was established in 2008 and underwent a name change in September 2016, adopting AGNC Investment Corp. after previously operating as American Capital Agency Corp. Its headquarters are situated in Bethesda, Maryland.