Bethesda-based AGNC Investment Corp. is a real estate investment trust (REIT) that primarily invests in government-backed mortgage securities. The company, which was founded in 2008 and was formerly known as American Capital Agency Corp., has elected to be taxed as a REIT under the Internal Revenue Code of 1986. As such, it is not subject to federal corporate income taxes provided it distributes at least 90% of its taxable income to shareholders. AGNC Investment Corp. funds its investments through collateralized borrowings structured as repurchase agreements.