MEDIUMOutside partyLoan_portfolio
47.8%
top two margin-loan customer accounts
“10-K Item 1A: 'our two largest customer accounts collectively comprise approximately 47.8% of the margin loans as of December 31, 2025'”
OPY · Concentration risk · 10-K extracted
Oppenheimer Holdings (OPY) concentration risks
Updated
The most significant concentration Oppenheimer Holdings discloses is top two margin-loan customer accounts at 47.8%, 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: Oppenheimer 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).
MEDIUMOutside partyCounterparty
a global systemically important bank
“10-K Item 1A: 'A substantial majority of our cash is held with a large, global systemically important bank, often in balances that exceed the current FDIC insurance limits.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Oppenheimer's concentration profile centers on two related but distinct exposures: on the asset side, its two largest customer accounts collectively comprise approximately 47.8% of margin loans, a medium-sized share concentrated among a handful of borrowers; on the cash side, a substantial majority of company cash is held with a single global systemically important bank, often in balances exceeding FDIC insurance limits. Both exposures share a dependency character rather than being structural features of the business model — they reflect counterparty relationships rather than diversified, distributed risk. The margin-loan concentration means an adverse credit event at either of the two largest accounts could disproportionately affect loan portfolio performance, while the cash-concentration exposure means a problem at that single banking counterparty could affect uninsured balances. Together these point to counterparty risk as the throughline for Oppenheimer's disclosed concentrations — less about secular market exposure and more about how much rides on a small number of specific relationships, both on the lending side and in treasury management of the firm's own cash.
For the engine’s reasoning on OPY’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Capital Markets
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ABTC | American Bitcoin Corp. | 2 | 1 | 0 | 3 |
| BTBT | Bit Digital, Inc. | 2 | 1 | 0 | 3 |
| BMNR | BitMine Immersion Technologies, | 1 | 0 | 0 | 1 |
| OPY● | Oppenheimer Holdings, Inc. | 0 | 2 | 0 | 2 |
| BTGO | BitGo Holdings, Inc. | 0 | 1 | 0 | 1 |
| BGC | BGC 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.