HIGHBuilt-inGeographic
California
“10-K Item 1A: 'Our operations are concentrated in one location ... Our current operations are predominantly located in California.'”
XNCR · Concentration risk · 10-K extracted
Xencor (XNCR) concentration risks
Updated
The most significant concentration Xencor discloses is California, 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.
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Source: Xencor’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 2026-07-06Xencor's disclosed concentration risk is singular and structural: the company states that its operations are concentrated in one location, with current operations predominantly located in California, a high-share geographic exposure. Unlike concentration built around a specific customer, supplier, or licensing counterparty, this exposure is tied to where the company's facilities physically sit, meaning a regional disruption — whether a natural disaster, a labor market shift, or a state-level regulatory change — could affect the entirety of Xencor's operations rather than a single product line or relationship. Because it is the only concentration exposure disclosed and it touches the whole business rather than a piece of it, it is also the exposure most capable of moving the verdict on its own: there is no offsetting diversification across other manufacturing sites, customers, or geographies to point to. Investors should treat this single-location structural exposure as the primary lens through which to assess Xencor's operational resilience, recognizing that it is a facility-and-labor-market risk rather than a counterparty risk, and that remediating it would require years of investment in additional sites rather than a near-term contractual change.
For the engine’s reasoning on XNCR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ABUS | Arbutus Biopharma Corporation | 1 | 1 | 0 | 2 |
| ABSI | Absci Corporation | 1 | 0 | 0 | 1 |
| XNCR● | Xencor, Inc. | 1 | 0 | 0 | 1 |
| ABCL | AbCellera Biologics Inc. | 0 | 0 | 0 | 0 |
| ACHV | Achieve Life Sciences, 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.