Capstead Mortgage holds steady even in turbulent real estate markets. To stay the course, the self-managed real estate investment trust (REIT) makes leveraged investments in single-family residential adjustable-rate mortgage securities issued and backed by government agencies such as Fannie Mae, Freddie Mac, and Ginnie Mae. It occasionally makes limited investments in credit-sensitive commercial mortgage assets, as well. The REIT typically funds its investment activities through short-term borrowings or equity offerings. Founded in 1985, Capstead of one of the oldest publicly traded mortgage REITs in the US and manages an investment portfolio worth roughly $14 billion.