diff --git a/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfiguration.java b/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfiguration.java
index be94fb0af9..01bcef9e90 100644
--- a/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfiguration.java
+++ b/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfiguration.java
@@ -67,6 +67,7 @@ import org.springframework.security.web.AuthenticationEntryPoint;
 import org.springframework.security.web.authentication.www.BasicAuthenticationEntryPoint;
 import org.springframework.security.web.util.matcher.AntPathRequestMatcher;
 import org.springframework.security.web.util.matcher.AnyRequestMatcher;
+import org.springframework.security.web.util.matcher.NegatedRequestMatcher;
 import org.springframework.security.web.util.matcher.OrRequestMatcher;
 import org.springframework.security.web.util.matcher.RequestMatcher;
 import org.springframework.util.ObjectUtils;
@@ -95,6 +96,9 @@ public class ManagementWebSecurityAutoConfiguration {
 
 	private static final String[] NO_PATHS = new String[0];
 
+	private static final RequestMatcher MATCH_NONE = new NegatedRequestMatcher(
+			AnyRequestMatcher.INSTANCE);
+
 	@Bean
 	@ConditionalOnMissingBean({ IgnoredPathsWebSecurityConfigurerAdapter.class })
 	public IgnoredPathsWebSecurityConfigurerAdapter ignoredPathsWebSecurityConfigurerAdapter() {
@@ -332,8 +336,7 @@ public class ManagementWebSecurityAutoConfiguration {
 				for (String path : this.endpointPaths.getPaths(endpointHandlerMapping)) {
 					matchers.add(new AntPathRequestMatcher(server.getPath(path)));
 				}
-				return (matchers.isEmpty() ? AnyRequestMatcher.INSTANCE
-						: new OrRequestMatcher(matchers));
+				return (matchers.isEmpty() ? MATCH_NONE : new OrRequestMatcher(matchers));
 			}
 
 		}
@@ -345,10 +348,12 @@ public class ManagementWebSecurityAutoConfiguration {
 		ALL,
 
 		NON_SENSITIVE {
+
 			@Override
 			protected boolean isIncluded(MvcEndpoint endpoint) {
 				return !endpoint.isSensitive();
 			}
+
 		};
 
 		public String[] getPaths(EndpointHandlerMapping endpointHandlerMapping) {
diff --git a/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfigurationTests.java b/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfigurationTests.java
index d0be9ccf38..33cd9ef78a 100644
--- a/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfigurationTests.java
+++ b/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/autoconfigure/ManagementWebSecurityAutoConfigurationTests.java
@@ -61,6 +61,9 @@ import static org.junit.Assert.assertEquals;
 import static org.junit.Assert.assertNotNull;
 import static org.junit.Assert.assertThat;
 import static org.junit.Assert.assertTrue;
+import static org.springframework.security.test.web.servlet.setup.SecurityMockMvcConfigurers.springSecurity;
+import static org.springframework.test.web.servlet.request.MockMvcRequestBuilders.get;
+import static org.springframework.test.web.servlet.result.MockMvcResultMatchers.status;
 
 /**
  * Tests for {@link ManagementWebSecurityAutoConfiguration}.
@@ -231,6 +234,27 @@ public class ManagementWebSecurityAutoConfigurationTests {
 				.andExpect(springAuthenticateRealmHeader());
 	}
 
+	@Test
+	public void testMarkAllEndpointsSensitive() throws Exception {
+		// gh-4368
+		this.context = new AnnotationConfigWebApplicationContext();
+		this.context.setServletContext(new MockServletContext());
+		this.context.register(WebConfiguration.class);
+		EnvironmentTestUtils.addEnvironment(this.context, "endpoints.sensitive:true");
+		this.context.refresh();
+
+		MockMvc mockMvc = MockMvcBuilders.webAppContextSetup(this.context) //
+				.apply(springSecurity()) //
+				.build();
+
+		mockMvc //
+				.perform(get("/health")) //
+				.andExpect(status().isUnauthorized());
+		mockMvc //
+				.perform(get("/info")) //
+				.andExpect(status().isUnauthorized());
+	}
+
 	private ResultMatcher springAuthenticateRealmHeader() {
 		return MockMvcResultMatchers.header().string("www-authenticate",
 				Matchers.containsString("realm=\"Spring\""));