# FUND INVESTORS, INC. X-17A-5 (2026-01-30) — Broker-dealer annual report - Company: FUND INVESTORS, INC. - Form: X-17A-5 - Filed: 2026-01-30 - Period: 2025-12-31 - Accession: 0000818286-26-000002 - CIK: 818286 - File #: 8-38186 - Type: Broker-dealer - Material weakness: No - Auditor: Cropper Accountancy Corporation - Auditor location: Walnut Creek, CA - Contact: Patrick Long - Phone: 8144729317 - Website: cropperaccountancy.com - Signed by: Patrick Long (President) Original filing: https://www.sec.gov/Archives/edgar/data/818286/000081828626000002/25public.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17A-5 PART** Ill 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 SEC FILE NUMBER **FACING PAGE** **Information Required Pursuant to Rules 17a-S, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **O 1/01/2025** MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM : Fund Investors, Inc. TYPE OF REGISTRANT (check all applicable boxes): [!] Broker-dealer Security-based swap dealer 0 Check here if respondent is also an OTC derivatives dealer Major security-based swap participant AND ENDING **12/31/2025** ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 510 E. High Street | | (N
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| {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 2700 Ygnacio Valley Road, Sia 270 Walnut Creek, CA 94598 (925) 932-3860 lei (925) 476-9930 efax www.cropperaccountancy.com ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholder of Fund Investors, Inc. #### **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of Fund Investors, Inc. as of December 31, 2025, the related statements of income, changes in shareholder's equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Fund Investors, Inc. as of December 31, 2025, and the results of its operations and its cash flows for the year then ended in confonnity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** These financial statements are the responsibility of Fund Investor's, Inc. management. Our responsibility is to express an opinion on Fund Investor's, Inc. financial statements based on our audit. We are a public accounting finn registered with.the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to Fund Investors, Inc 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 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. ### **Auditor's Report on Supplemental Information** The supplemental information, the Computation of Net Capital Pursuant to Uniform Net Capital Rule l 5c3-l has been subjected to audit procedures performed in conjunction with the audit of Fund Investor's, Inc. financial statements. The supplemental infonnation is the responsibility of Fund Investor's, Inc. management. Our audit procedures included detennining 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 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 17 C.F.R. §240. l 7a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. CROPPER ACCOUNTANCY CORPORATION We have served as Fund Investor's, Inc. auditor since 2024. Walnut Creek, California January 16, 2026 {5}------------------------------------------------ ### **FUND INVESTORS, INC. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025** | | | 20
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re | \$ | | {9}------------------------------------------------ # **FUND INVESTORS, INC. NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2025** # **1. ORGANIZATION AND NATURE OF BUSINESS** Fund Investors, Inc. (the Company) is a non-clearing broker dealer registered with the Financial Industry Regulatory Authority (FINRA). It is a Pennsylvania corporation engaged **in** the sale of mutual funds shares. The Company does not hold customer accounts. # **2. SIGNIFICANT ACCOUNTING POLICIES** This summary of significant accounting policies of the Company is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management who is responsible for their integrity and objectivity. # *Basis of Presentation* The Company's policy is to prepare its financial statements in accordance with accounting principles generally accepted in the United States of America under the accrnal basis of accounting which generally records items under historical costs and sometimes requires the use of estimates and assumptions. The accrual basis of accounting records revenue in the period in which earned rather than when received and records expenses in the period in which incuned rather than when paid. # *Leases* The Company recognizes and measures its leases in accordance with F ASB ASC 842, *Leases.* The Company is a lessee in a noncancellable operating lease for office space. The Company determines if an anangement is a lease, or contains a lease, at inception of a contract and when the terms of an existing contract are changed. The Company recognizes a lease liability and a right of use (ROU) asset at the commencement date of the lease. The lease liability is initially and subsequently recognized based on the present value of its future lease payments. Variable payments are included in the future lease payments when those variable payments depend on an index or a rate. The discount rate is the implicit rate if it is readily determinable or otherwise the Company uses its incremental borrowing rate. The implicit rates of our leases are not readily determinable and accordingly, we use our incremental bonowing rate based on the information available at the commencement date for all leases. The Company's incremental bonowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a {10}------------------------------------------------ similar economic environment. The ROU asset is subsequently measured throughout the lease term at the amount of the remeasured lease liability (i.e., present value of the remaining lease payments), plus unamortized initial direct costs, plus (minus) and prepaid (accrued) lease payments, less the unam01tized balance of lease incentives received, and any impai1ment recognized. Lease cost for lease payments is recognized on a straightline basis over the lease term. The Company has elected, for all underlying classes of assets, to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement, and do not include an option to purchase the underlying asset that the Company is reasonably ce1tain to exercise. We recognize lease cost associated with our shoit-term leases on a straight-line basis over the lease term. The Company made an accounting policy election by class of underlying asset, for computers and other office equipment, to account for each separate lease component of a contract and its associated non-lease components (lessor-provided maintenance) as a single lease component. ## *Use of Estimates* The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (GAAP) requires management to make estimates and assumptions that affect the rep01ted amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of reve.nue and expenses during the rep01ting period. Actual results could differ from those estimates. ### *Securities Owned* Securities are recorded at fair value in accordance with FASB ASC 820, *Fair Value Measurement,* based upon quoted market prices. The Company rep01ts in accordance with FASB ASC 820, *Fair Value Measurement,* based upon quoted market prices. Equity securities with no readily available values are carried at cost. The change in unrealized gains and losses are repo1ted in eamings. Realized gains and losses are computed based on specific identification of the securities sold. {11}------------------------------------------------ ### *Accounts Receivable* Accounts receivable represent commissions earned, maintenance fees accrued and regulatory fees due from registered representatives. No allowance has been provided based on historical collection results and management's judgment of collectability. Receivables from contracts with customers amounted to \$36,325 and \$34,513 at December 31, 2025 and 2024 respectively. ### *Income Taxes* Cu11'ent expense represents the estimated tax obligation per the income tax return, and deferred expense represents the change in the estimated future tax effects of temporary differences and cany forwards. Deferred tax assets and liabilities are computed by applying enacted income tax rates to the expected reversals of temporaiy differences between financial reporting and income tax reporting, and by considering caiTy forwards for operating losses and tax credits. The Company provides a valuation allowance for defel1'ed tax assets for which it does not consider realization of such assets to be more likely than not. The Company recognizes and measures its unrecognized tax benefits in accordance with FASB ASC 740, *Income Taxes.* Under that guidance the Company assesses the likelihood, based on their technical merit, that tax positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The measurement of unrecognized tax benefits is adjusted when new inf01mation is available, or when an event occurs that requires a change. ### *Statement of Caslt Flows* The Company has defined cash equivalents as highly liquid investments, with original maturities of less than three months that are not held for sale in the ordinaiy course of business. # **3. REVENUE FROM CONTRACTS WITH CUSTOMERS** ### *Significant Judgments* Revenue from contracts with customers includes commission income. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. {12}------------------------------------------------ ### *Commissions* *Commissions.* The company buys and sells mutual fund securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission. Commissions and related expenses are recorded on the trade date (the date that the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership of the securities have been transferred to/from the customer. *Distribution Fees.* The Company enters into anangements with managed accounts or other pooled investment vehicles (funds) to distribute shares to investors. The Company may receive distribution fees paid by the fund up front, over time, upon investor's exit from the fund (that is, contingent deferred sales charge), or as a combination thereof. The Company believes that its performance obligation is the sale of securities to investors and as such this is fulfilled on the trade date. Any fixed amounts are recognized on the trade date and variable amounts are recognized to the extent it is probable that a significant revenue reversal will not occur once the uncertainty is resolved. For variable amounts, as the uncertainty is dependent on the value of the shares at future points in time as well as the length of time the investor remains in the fund, both of which are highly susceptible to factors outside the Company's influence, the Company does not believe that it can overcome this constraint until the market value of the fund and the investor activities are known, which are usually monthly or quarterly. Distribution fees recognized in the cunent period are primarily related to the perfonnance obligations that have been satisfied in prior periods. ### *Disaggregated Revenue From Contracts with Customers* | | | 2
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38 | | | | | | \$ | The umealized gains are rep01ted in earnings. The marketable securities are included in cunent assets on the statement of financial condition. ### **5. FAIR VALUE OF FINANCIAL INSTRUMENTS** ### *Fair Value Hierarchy* F ASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market paiticipants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous mai·ket. Valuation techniques that are consistent with the mai·ket, income or cost approach, as specified by F ASB ASC 820, are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value in three broad levels: - - Level 1. Quoted prices (unadjusted) in active mai·kets for identical assets or liabilities that the Company can access at the measurement date. - - Level 2. Inputs other than the quoted prices included within level 1 that ai·e observable for the asset or liability either directly or indirectly. - -Level 3. Unobservable inputs for the asset or liability. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment {14}------------------------------------------------ exercised in determining fair value is greatest for instruments categorized in Level 3. There were no transfers in or out of Level 3 during the year. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. ### *Fair Value Measurement* Fair value is a market-based measure considered from the perspective of a market pruticipant rather than an entity-specific measure. Therefore, even when mru-ket assumptions are not readily available, the Company's own assumptions are set to reflect those that the Company believes market participants would use in pricing the asset or liability at the measurement date. A description of the valuation techniques applied to the company's major categories of assets and liabilities measured at fair value on a recuning basis follow. # *Common Stocks* The fair values of common stocks are based on the closing price rep01ted in the active mru·ket where the individual securities are traded, when available. The following tables present the Company's fair value hierarchy for those assets that are measured at fair value on a recurring basis at December 31, 2025: | | F
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- | | | #### 6. **CAPITAL STOCK:** The authorized, issued, and outstanding shares of capital stock at December 31, 2025, were as follows: > Common Stock \$10 par value 100,000 shares authorized 600 shares issued and outstanding Preferred Stock \$10 pru· value 100,000 shares authorized No shares issued {15}------------------------------------------------ ### **7. SEC RULE 15c3-3 EXEMPTION** Fund Investors, Inc.'s transactions are limited to the sale and redemption ofregistered investment company shares. In addition, the Company promptly transmits all funds received in connection with its activities as a broker or dealer, and does not otherwise hold funds or securities for, or owe money or securities to, customers. The Company claims exemption k(l) from rule 15c3-3 of the Securities and Exchange Commission as a limited business, engaged in the sale of mutual funds and variable annuities. The Company does not cany securities for customers or perform custodial functions relating to customer securities, therefore the following schedules required under rule 15c3-3 of the Securities and Exchange Commission have not been included in these financial statements: Schedule II - Computation for the Determination of Reserve Requirements Pursuant to Rule l 5c3-3, Schedule III - Information Relation to Possession or Control Requirements Under Rule 15c3-3, and Schedule IV - Schedule of Segregation Requirements and Funds in Segregation for Customers' Regulated Commodities Futures and Options Accounts. ### **8. PENSION PLAN** The Company has a qualified, non-contributory defined contribution profit sharing plan. Contributions to this plan are discretionary and are determined annually by the Board of Directors. Employees are immediately vested in all contributions made on their behalf. The pension expense for the year ended December 31, 2025 is \$51,557. ### **9. INCOME TAXES** The provision for federal and state income taxes for the year ended December 31, 2025 consists of the following: | C
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,6 | #### **12. RELATED PARTY TRANSACTIONS** The sole shareholder of Fund Investors, Inc. is also a shareholder of another corporation. They are operating under the common paymaster rules. As such, employees common to both corporations are subject to one limit for payroll tax liability calculations. Additionally, the Company has adopted the same pension plan as the common paymaster corporation. All payroll expenses and related costs are paid out of Long, Mulhearn & Criste P.C. Fund Investors, Inc. reimburses the common paymaster corporation for its share of all such costs. Amounts reimbursed totaled \$421,566 for the year ended December 31, 2025. The shareholder is also a member ofEML, LLC, the lessor of the Company's office space. {18}------------------------------------------------ ## **13. NET CAPITAL REQUIREMENTS** The Company is subject to the Securities and Exchange Commission's Uniform Net Capital Rule (SEC Rule 15c3-1). Under this Rule, the Company is required to maintain net capital of not less than \$5,000 and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1 for the year ended December 31, 2025. The Company's net capital as defined by SEC Rule 15c3-1 was \$39,335, which is in excess of the minimum net capital required for the year end December 31 , 2025. The Company's net capital ratio was 1.10 to 1 for the year ended December 31, 2025. # **14. CONCENTRATIONS OF CREDIT RISK** The Company is engaged in the sale of mutual fund shares for which it receives commissions. Future income of the corporation is dependent upon the fee structure as approved by the various fund families with which the Company maintains sales agreements. ## **15. SINGLE REPORTABLE SEGMENT** The Company is engaged in a single line of business as a securities broker-dealer which is described in Note 1. The Company has identified its sole shareholder as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 13), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to maintain profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single rep011able 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 policies listed below. ### **16. SUBSEQUENT EVENTS** Subsequent events have been evaluated through the date of the report the independent registered accounting firm, which is the date that financial statements were available to be issued, and management did not notice any material events requiring disclosure or recognition. # **17. COMMITMENTS AND CONTINGENCIES** With the exception of the lease commitment listed in note 11, the Company has no known commitments or contingencies. {19}------------------------------------------------ # **FUND INVESTORS, INC. COMPUTATION OF NET CAPITAL UNDER RULE 15C3-1 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2025** | | 20
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to | There are no material differences in net capital as reported on Fund Investors, Inc's 2025 Focus Report and the accompanying financial statements {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholder of Fund Investors, Inc. We have reviewed management's statements, included in the accompanying Fund Investors, Inc's Exemption Report, in which (1) Fund Investors, Inc. identified the following provision of 17 C.F.R. §15c3-3(k) under which Fund Investors, Inc. claimed an exemption from 17 C.F.R. §240.15c3-3: (1 ) (exemption provision) and (2) Fund Investors, Inc. stated that Fund Investors, Inc. met the identified exemption provision throughout the most recent fiscal year without exception. Fund Investors, Inc.'s management is responsible for compliance with the exemption provision and its statements. 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 Fund Investors, Inc. '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 provision set forth in paragraph (k)(I) of Rule l 5c3-3 under the Securities Exchange Act of 1934. CROPPER ACCOUNT ANCY CORPORATION Walnut Creek, California January 16, 2026 {21}------------------------------------------------ ![](_page_21_Picture_0.jpeg) - **510 E. High Street Ebensburg,PA 15931** > **Phone: 814.472.9317 Fax: 814.472.8200** ## **Fund Investors, Inc's Exemption Report** ==================- Fund Investors, Inc (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240. l 7a-5, "Reports to be made by ce1tain brokers and dealers"). This Exemption Rep01t was prepared as required by 17 C.F.R. § 240.17a-5(d)(l) 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. l 5c3-3(k) throughout the most recent fiscal year without exception. Fund Investors, Inc I, Patrick E Long, swear ( or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. By: *J!;!::L1:* Title: President January 2, 2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.