MEDIUMOutside partyTenant
26%
Vulcan Materials Company
“10-K Item 1: 'one of which, Vulcan Materials Company (“Vulcan” or “Vulcan Materials”), accounted for 26% of the Company’s consolidated revenues in 2025'”
FRPH · Concentration risk · 10-K extracted
FRP Holdings (FRPH) concentration risks
Updated
The most significant concentration FRP Holdings discloses is Vulcan Materials Company at 26%, classified MEDIUM 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: FRP Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM2
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).
MEDIUMBuilt-inGeographic
Baltimore, Washington D.C., and Greenville SC
“10-K Item 1A: 'The majority of our stabilized properties are located in the Baltimore area, Washington, D.C., and Greenville, South Carolina'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06FRP Holdings carries two medium-share concentration exposures that reinforce each other. On the tenant side, Vulcan Materials Company accounted for 26% of the company's consolidated revenues in 2025 — a dependency-type exposure, since the loss or renegotiation of that single relationship would have a direct, identifiable effect on revenue. On the geographic side, the majority of stabilized properties are located in the Baltimore area, Washington, D.C., and Greenville, South Carolina — a structural exposure tied to the economic health of those specific regional markets rather than to any one tenant. The two exposures compound somewhat: Vulcan's operations likely sit within the same geographic footprint the portfolio depends on, so a downturn affecting that tenant and that region simultaneously would be more consequential than either risk in isolation. Both are disclosed at a medium share rather than an outsized one, suggesting neither alone is likely to be the dominant swing factor, but their overlap is the detail most worth watching. Disclosed in the most recent 10-K.
For the engine’s reasoning on FRPH’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Real Estate Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| COMP | Compass, Inc. | 2 | 0 | 0 | 2 |
| CWK | Cushman & Wakefield Ltd. | 2 | 0 | 0 | 2 |
| CBRE | CBRE Group Inc | 0 | 2 | 0 | 2 |
| FRPH● | FRP Holdings, Inc. | 0 | 2 | 0 | 2 |
| AGNT | AGNT, Inc. | 0 | 0 | 0 | 0 |
| CSGP | CoStar 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.