Updated
The most significant concentration Pagaya Technologies discloses is limited number of Partners, 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.
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: Pagaya Technologies’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 1A: 'Currently, a limited number of Partners account for a substantial portion of our Network Volume, the financial products facilitated with the assistance of our AI technology, and, ultimately, our Revenue.'”
Pagaya's core disclosed concentration is a partner-dependency risk: the company states that currently, a limited number of Partners account for a substantial portion of its Network Volume — the financial products facilitated with the assistance of its AI technology — and, ultimately, its Revenue. No specific percentage or partner name is broken out in the source, so the exposure is best understood as a client-relationship dependency rather than a structural feature of Pagaya's business model: the AI-driven marketplace itself is not inherently tied to any fixed number of partners, but the current base is narrow enough that the company flags it as a substantial driver of volume and revenue. This is a more idiosyncratic exposure than a macro-cyclical one — the loss of, or a pullback by, even one or two of these partners could disproportionately affect Network Volume and Revenue, independent of broader credit or lending-market conditions. Because the disclosure does not quantify the share with a number, investors are left to size the risk qualitatively, but the company's own characterization — a "substantial portion" — signals a moderate dependency worth monitoring alongside partner-relationship stability and renewal terms.
For the engine’s reasoning on PGY’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AI | C3.ai, Inc. | 1 | 2 | 0 | 3 |
| AEVA | Aeva Technologies, Inc. | 1 | 0 | 0 | 1 |
| AIOT | PowerFleet, Inc. | 0 | 2 | 0 | 2 |
| PGY● | Pagaya Technologies Ltd. | 0 | 1 | 0 | 1 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, 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.