HIGHBuilt-inProduct / Revenue mix
89%
Agency MBS
“10-K Item 1: 'Agency (1)(2)| 89%| | 62%| | 87%| | 59%'”
NLY · Concentration risk · 10-K extracted
Annaly Capital Management (NLY) concentration risks
Updated
The most significant concentration Annaly Capital Management discloses is Agency MBS at 89%, 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.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Annaly Capital Management’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH1
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).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is defined by a single product-type exposure: Agency mortgage-backed securities represent the dominant share of the investment portfolio, a high-share structural exposure by disclosed size. (Note: the percentage figure appears only within a pipe-delimited table fragment in the filing, so it is described qualitatively here rather than cited as a number.) The character is structural — investing in Agency MBS is the deliberate strategy of the company, reflecting an explicit mandate to hold securities backed by government-sponsored enterprise guarantees rather than credit-sensitive whole loans or non-Agency collateral. Because Agency MBS constitute such a large portion of the portfolio by disclosed size, the company's net interest income, book value, and return profile are all tightly linked to interest rate movements, prepayment speeds, and the spread between short-term borrowing costs and longer-duration Agency yields. A sustained flattening or inversion of the yield curve, or a sharp acceleration in prepayments, would affect the large majority of the earning asset base simultaneously. The government backing of Agency MBS mitigates credit risk, but it does not insulate the portfolio from duration and rate risk. No customer, geographic, supplier, or named counterparty concentrations are separately disclosed. The profile is narrow in one sense — a single asset-type — but the structural character means the exposure is intentional and persistent rather than a transitional mix. For investors, the relevant variables are interest rate positioning, leverage management, and the spread dynamics of Agency MBS rather than any individual-name or geographic risk.
For the engine’s reasoning on NLY’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Mortgage
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ABR | Arbor Realty Trust | 2 | 0 | 2 | 4 |
| NLY● | Annaly Capital Management Inc. | 1 | 0 | 0 | 1 |
| AGNC | AGNC Investment Corp. | 0 | 2 | 0 | 2 |
| AGNCM | AGNC Investment Corp. - Deposit | 0 | 2 | 0 | 2 |
| ARR | ARMOUR Residential REIT, Inc. | 0 | 1 | 0 | 1 |
| AGNCN | AGNC Investment Corp. - Deposit | 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.