Updated
The most significant concentration New Mountain Finance Corporatio discloses is software, business services, healthcare, investment funds and consumer services, 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: New Mountain Finance Corporatio’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
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).
“10-K Item 1: 'As of December 31, 2025, our top five industry concentrations were software, business services, healthcare, investment funds ... and consumer services.'”
New Mountain Finance Corporation's disclosed concentration is one of industry mix rather than a single-name or single-geography dependency. The filing states that, as of December 31, 2025, the top five industry concentrations were software, business services, healthcare, investment funds, and consumer services — a moderate, structural concentration that reflects the portfolio construction of a business development company rather than reliance on any one borrower or counterparty. Because the exposure spans five distinct industries rather than one, it is inherently more diversified than a single-sector or single-customer concentration would be; a downturn specific to any one of these industries would affect only part of the portfolio rather than the whole. That said, the five named sectors span both cyclical categories (business services, consumer services) and less cyclical ones (healthcare), so the aggregate sensitivity to a broad economic slowdown versus a sector-specific shock differs depending on which of the five is affected. No percentage weighting across these five industries is given in the disclosed claim, so the degree of concentration within this five-industry group cannot be assessed more precisely from the filing text alone. On balance, this reads as a normal, moderate diversification profile for a credit-focused BDC.
For the engine’s reasoning on NMFC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AAMI | Acadian Asset Management Inc. | 1 | 2 | 1 | 4 |
| ALTI | AlTi Global, Inc. | 1 | 0 | 0 | 1 |
| AMP | Ameriprise Financial, Inc. | 0 | 1 | 0 | 1 |
| NMFC● | New Mountain Finance Corporatio | 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.