# HARRIS ASSOCIATES SECURITIES L.P. X-17A-5 (2026-04-07) — Broker-dealer annual report - Company: HARRIS ASSOCIATES SECURITIES L.P. - Form: X-17A-5 - Filed: 2026-04-07 - Period: 2024-12-31 - Accession: 0000045726-26-000003 - CIK: 45726 - File #: 8-19988 - Type: Broker-dealer - Material weakness: No - Auditor: PRICEWATERHOUSECOOPERS LLP - Auditor location: CHICAGO, IL - Contact: ZACHARY D. WEBER - Phone: 3126463218 - Email: zweber@harrisassoc.com - Website: harrisassoc.com - Signed by: ZACHARY D. WEBER (CFO AND TREASURER OF HARRIS ASSOCIATES, INC., GENERAL PARTNER) Original filing: https://www.sec.gov/Archives/edgar/data/45726/000004572626000003/haslpcleancopy2024.pdf --- {0}------------------------------------------------ ## **Harris Associates Securities L.P.** **(A Subsidiary of Harris Associates L.P.) Financial Statements and Supplemental Schedules Exemption Report and Report of Independent Registered Public Accounting Firm Pursuant to Rule 17a-5 of the Securities Exchange Act of 1934 As of and for the Year Ended December 31, 2024** {1}------------------------------------------------ | LI VILL | SEC FILE NUMBE | |------------------------------------------------|---------------------| | -17A-5 | | | | | | PAGE | | | and 18a-7 under the Securities Exchange Act of | | | | AND ENDING 12/31/24 | | /YY | MM/DD/YY | | | | | | (No. and Street) | | | | |--------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|------------------------|--------------------------------------------|--| | Chicago | | | 60506 | | | (City) | (State) | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Zachary Weber | (312) 646-3218 | zweber@harrisassoc.com | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | PricewaterhouseCoopers LLP | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
(Name - if individual, state last, first, and middle name) | | | | | One North Wacker Drive, 9th Floor Chicago | | - | 60606 | | | (Address) | (City) | (State) | (Zip Code) | | | October 20, 2003 | | 238 | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | {2}------------------------------------------------ | Zachary D. Weber | swear (or affirm) that, to the best of my knowledge and belief, the | |------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | tinancial report pertaining to the firm of Harris Associates Securities L.P. | as of | | 12/31 | , 2 024 | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer. | | ![](_page_2_Figure_3.jpeg) ![](_page_2_Figure_4.jpeg) - - - - - - - - - - - - - - - - - - - - - - - - - - - {3}------------------------------------------------ ## **Harris Associates Securities L.P. Index December 31, 2024** **Financial Statements** # **Page(s) Report of Independent Registered Public Accounting Firm**… ............................................................... 1 | | Statement of Financial Condition 3 | | |------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--| | | Statement of Operations 4 | | | | Statement of Changes in Partners' Capital 5 | | | | Statement of Cash Flows 6 | | | | Notes to Financial Statements 7-9 | | | Supplemental Schedules | | | | Schedule I: | Computation of Net Capital Pursuant to Rule 15c3-1 11 | | | | Schedule II: Computation for Determination of Reserve Requirements and Information
Relating to Possession and Control Requirements Under Rule 15c3-3 12 | | | Exemption Report | | | | | Report of Independent Registered Public Accounting Firm… 13 | | | | Harris Associates Securities L.P. Exemption Report 14 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Board of Directors and Partners of Harris Associates Securities L.P. #### *Opinion on the Financial Statements* We have audited the accompanying statements of financial condition of Harris Associates Securities L.P. (the "Company") as of December 31, 2024, and the related statement of operations, changes in partners' capital and of cash flows for the year then ended, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. #### *Basis for Opinion* These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as, evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### *Significant Transactions with Related Parties* As discussed in Note 3 to the financial statements, the Company has entered into significant transactions with Harris Associates L.P., its limited partner, a related party. #### *Supplemental Information* The accompanying computation of net capital pursuant to Rule 15c3-1 and computation for determination of reserve requirements and information relating to possession and control requirements under Rule 15c3- 3 are supplemental information required by Rule 17a-5 under the Securities and Exchange Act of 1934 as of December 31, 2024 (collectively, the "supplemental information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Rule 17a-5 under the Securities Exchange Act of 1934. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. **Chicago, Illinois February 2, 2025** We have served as the Company's auditor since at least 1999. We have not been able to determine the specific year we began serving as auditor of the Company. {6}------------------------------------------------ ## **Harris Associates Securities L.P. Statement of Financial Condition As of December 31, 2024** | Assets | | |-----------------------------------------|-----------------| | Cash | \$
1,100,859 | | Prepaid expenses | 41,208 | | Total assets | \$
1,142,067 | | Liabilities and Partners' Capital | | | Liabilities | | | Payable to limited partner | \$
429,786 | | Other expenses payable | 50,910 | | Total liabilities | 480,696 | | Partners' capital | 661,371 | | Total liabilities and partners' capital | \$
1,142,067 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ ## **Harris Associates Securities L.P. Statement of Operations For the Year Ended December 31, 2024** | Revenue | | |----------------------------------------|-------------------| | Interest Income | \$
18,594 | | Expenses | | | Administrative fees to limited partner | 3,393,799 | | Other expenses | 178,476 | | Total expenses | 3,572,276 | | Net loss | \$
(3,553,682) | | | | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ ## **Harris Associates Securities L.P. Statement of Changes in Partners' Capital For the Year Ended December 31, 2024** | General
Partner | | Limited
Partner | | | | |--------------------|----------|--------------------|-------------|-------|-------------| | | | | | Total | | | \$ | 6,652 | \$ | 658,401 | \$ | 665,053 | | | 35,500 | | 3,514,500 | | 3,550,000 | | | (35,538) | | (3,518,144) | | (3,553,682) | | \$ | 6,614 | \$ | 654,757 | \$ | 661,371 | | | | | | | | The accompanying notes are an integral part of these financial statement {9}------------------------------------------------ | Cash flows from operating activities | | |-------------------------------------------------------|-------------------| | Net loss | \$
(3,553,682) | | Adjustments to reconcile net loss to net cash used in | | | operating activites: | | | Increase in prepaid expenses | (1,542) | | Decrease in payable to limited partner | (201,919) | | Decrease in other expenses payable | (39,391) | | Net cash used in operating activites | (3,796,534) | | Cash flows from financing activities | | | Capital contributions | 3,550,000 | | Net cash provided by financing activities | 3,550,000 | | Net decrease in cash | (246,534) | | Cash | | | Beginning of year | 1,347,393 | | End of year | \$
1,100,859 | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ #### **1. Nature of Operations and Summary of Significant Accounting Policies** Harris Associates Securities L.P. ("HASLP"), a Delaware limited partnership, is a registered brokerdealer and member of the Financial Industry Regulatory Authority ("FINRA"). The general (1%) and limited (99%) partners of HASLP are Harris Associates, Inc. ("HAI") and Harris Associates L.P. ("HALP"), respectively, which are both wholly owned subsidiaries of Natixis Investment Managers, LLC. The net income or loss of HASLP is allocated to the partners in proportion to their ownership interests. HASLP is a limited purpose broker-dealer whose sole business is acting as a distributor of The Oakmark Funds, a series of registered investment companies managed by HALP. The Oakmark Funds do not charge loads or 12b-1 fees to shareholders. HASLP does not earn any revenues or commissions through distribution of these mutual funds. As described above, HASLP is engaged in a single line of business as a securities broker-dealer. HASLP has identified its chief financial officer as the chief operating decision maker ("CODM"), who primarily uses the Statement of Financial Condition and Statement of Operations, including net income (loss), to evaluate and forecast the results of the business. Additionally, the CODM uses excess net capital (Schedule I), which is not a measure of profit and loss, to make operational decisions related to maintaining capital adequacy. The Company's operations constitute a single operating segment, and therefore, a single reportable segment because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. These financial statements are presented in accordance with accounting principles generally accepted in the United States of America. The following is a summary of significant accounting policies followed in the preparation of HASLP's financial statements. #### **Cash** HASLP maintains its cash in bank deposit accounts which, at times, exceeds the federally insured limits. HASLP has not experienced and does not expect to experience any losses in such accounts. #### **Income Taxes** HASLP is a partnership for federal income tax purposes. It is not subject to federal or state taxes on its income. The partners will be required to report on their income tax return their proportionate share of the items of loss and deductions from HASLP, the partnership. HASLP follows the authoritative guidance on accounting for and disclosure of uncertainty in tax positions which requires HAI to determine whether a tax position of HASLP is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. HAI has evaluated tax positions for the years 2022 through 2024 and has determined that there was no effect on the financial statements. #### **Use of Estimates** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. {11}------------------------------------------------ #### **2. Related Parties** HASLP has significant transactions with HALP. Because of this relationship, it is possible that the terms of these transactions are not the same as those that would result from transactions among wholly unrelated parties. HASLP has entered into an agreement with HALP whereby HALP provides substantially all administrative services, including personnel and occupancy, and charges HASLP a monthly administrative fee of the total amount incurred by HALP on behalf of HASLP for these expenses. These expenses are included in Administrative fees to limited partner on the Statement of Operations. The payable to the limited partner included within the Statement of Financial Condition consists of accrued administrative fees owed to HALP. Because HASLP has no revenue it experiences net losses and negative cash flows from operating activities, which raises substantial doubt about HASLP's ability to continue as a going concern. Accordingly, HAI, as the general partner of both HALP and HASLP, resolved for HAI and HALP to make combined quarterly contributions to HASLP for \$750,000 in support of its operating and regulatory capital requirements. In addition, HALP's management has formally committed to make additional capital contributions to HASLP, if necessary, to meet HASLP's operational and net capital requirements. As a result, management believes that its plans will alleviate the substantial doubt about HASLP's ability to continue as a going concern and therefore, the financial statements have been presented assuming HASLP will continue as a going concern. #### **3. Partners' Capital** HASLP received capital contributions from HAI and HALP amounting to \$3,550,000 during 2024. #### **4. Net Capital Requirements** HASLP is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. Net capital and aggregate indebtedness change daily. As of December 31, 2024, HASLP had net capital of \$620,163 and a minimum net capital requirement of \$32,046. The ratio of aggregate indebtedness to net capital was 0.78 to 1. #### **5. Exemption from SEC Rule 15c3-3** HASLP claims exemption from the provisions of SEC Rule 15c3-3 because its transactions are limited to distribution of registered investment companies, and it does not hold customer funds or securities. HASLP's activities are limited to those set forth in the conditions for exemption in accordance with Paragraph (k)(1) of that rule. {12}------------------------------------------------ #### **6. Commitment and Contingencies** In the normal course of business, HASLP will enter contracts that contain a variety of representations and warranties, and which provide general indemnifications. HASLP's maximum exposure is unknown, as any such exposure would result from future claims that may be, but have not yet been, made against HASLP, based on events which have not yet occurred. However, based on experience, management believes the risk of material loss from these arrangements to be remote. #### **7. Subsequent Events** HASLP has evaluated the events and transactions that have occurred through February 26, 2025, the date the financial statements were available to be issued and noted no material items requiring adjustment of the financial statements. {13}------------------------------------------------ ## **SUPPLEMENTAL SCHEDULE** {14}------------------------------------------------ ## **Harris Associates Securities L.P. Computation of Net Capital Pursuant to Rule 15c3-1 As of December 31, 2024 Schedule I** | Net capital | | |------------------------------------------------------------------------|-------------------| | Partners' capital qualified for net capital | \$
661,
371 | | Deductions and/or charges | | | Non-allowable assets | 41,208 | | Net capital | \$
620,163 | | Total aggregate indebtedness | \$
480,696 | | Computation of basic net capital requirements | | | Minimum net capital required (6 2/3% of aggregate indebtedness)
(A) | \$
32,046 | | Minimum dollar net capital requirement
(B) | \$
5,000 | | Net capital requirement (greater of (A) or (B)) | \$
32,046 | | Excess net capital (net capital, less net capital requirement) | \$
588,117 | | Excess net capital at 1,000 percent (net capial less 10% | | | of aggregate indebtedness) | \$
572,094 | | Ratio: Aggregate indebtedness to net capital | 0.78 to 1 | There are no material differences between the preceding computation and the Company's corresponding unaudited Part IIA of Form X-17a-5 as of December 31, 2024, as filed on January 27, 2025. {15}------------------------------------------------ ## **Harris Associates Securities L.P. Computation for Determination of Reserve Requirements and Information Relating to Possession and Control Requirements Under Rule 15c3-3 As of December 31, 2024 Schedule II** Harris Associates Securities L.P. claims exemption from SEC Rule 15c3-3 under paragraph (k)(1) of that Rule. There are no material differences between the preceding computation and the Company's corresponding unaudited Part IIA of Form X-17a-5 as of December 31, 2024. {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) #### *Report of Independent Registered Public Accounting Firm* To the Management and Board of Directors of Harris Associates L.P. We have reviewed Harris Associates Securities L.P.'s (the "Company") statements, included in the accompanying Harris Associates Securities L.P. Exemption Report, in which (1) the Company identified the following provisions of 17 C.F.R. § 240.15c3-3(k) under which the Company claimed an exemption from 17 C.F.R. § 240.15c3-3: stated that it met the identified exemption provision throughout the year ended December 31, 2024 without exception. The Company's management is responsible for the statements and for compliance with the identified exemption provision throughout the year ended December 31, 2024. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with the exemption provision. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph (k)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. **Chicago, Illinois February 2, 2025** {17}------------------------------------------------ #### Harris Associates Securities L.P. Exemption Report Harris Associates Securities L.P. (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d) (1) and (4). To the best of its knowledge and belief, the Company states the following: (1) The Company claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. § 240.15c3-3 *(*k*)*(1); (2) The Company met the identified exemption provisions in 17 C.F.R. § 240.15c3-3(k)(1) throughout the most recent fiscal year without exception. Harris Associates Securities L.P. I, Zachary D. Weber, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. By: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Title: Chief Financial Officer February 2, 202 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.