HIGHBuilt-inCustomer
68%
U.S. financial intermediary market
“10-K Item 1: 'U.S. financial intermediary (68%); U.S. institutional (25%); and international (7%)'”
FHI · Concentration risk · 10-K extracted
Federated Hermes (FHI) concentration risks
Updated
The most significant concentration Federated Hermes discloses is U.S. financial intermediary market at 68%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Federated Hermes’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inProduct / Revenue mix
53%
money market assets
“10-K Item 1A: 'Approximately 53% of Federated Hermes' total 2025 revenue was attributable to money market assets'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile reflects two interconnected structural exposures: a channel tilt and a product-mix tilt, both of which are deliberate features of the business model rather than idiosyncratic dependencies. On the channel side, the U.S. financial intermediary market represented 68% of the company's mix — a high share by disclosed size. This structural character means the company's distribution is routed primarily through financial advisors, broker-dealers, and intermediary platforms, and the level of concentration is unlikely to change materially without a deliberate strategic shift. The remaining mix is split between U.S. institutional and international channels. On the product side, approximately 53% of total 2025 revenue was attributable to money market assets, also a high share by disclosed size. This is structural as well — money market assets are a core competency and a recurring AUM category — but it does mean results are sensitive to interest rate cycles. When rates compress, money market fee yields follow, which can weigh disproportionately on revenue relative to a more diversified product mix. The interplay between the two exposures is worth noting: the financial intermediary channel likely drives a significant portion of money market inflows, creating co-movement between them. Both exposures are well-disclosed and manageable within normal market cycles, but they move together rather than offsetting each other.
For the engine’s reasoning on FHI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Asset Management
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| FHI● | Federated Hermes, Inc. | 2 | 0 | 0 | 2 |
| AAMI | Acadian Asset Management Inc. | 1 | 2 | 1 | 4 |
| APAM | Artisan Partners Asset Manageme | 0 | 1 | 2 | 3 |
| AMP | Ameriprise Financial, Inc. | 0 | 1 | 0 | 1 |
| AB | AllianceBernstein Holding L.P. | 0 | 0 | 1 | 1 |
| AMG | Affiliated Managers Group, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.