One major GSE investor reduced its stock holdings in Fannie Mae and Freddie Mac dramatically during the second quarter, new data show, but a number of other large GSE investors apparently decided to ride out a rocky first half of 2005. According to a recent industry report, the top 10 institutional investors in Fannie held 46.8 percent of the GSE’s outstanding shares as of June 30. That was up slightly from the 46.0 percent garnered… [One data table included]