# CP INVESTMENTS, LLC X-17A-5 (2026-02-26) — Broker-dealer annual report
- Company: CP INVESTMENTS, LLC
- Form: X-17A-5
- Filed: 2026-02-26
- Period: 2025-12-31
- Accession: 0000846350-26-000003
- CIK: 846350
- File #: 8-40862
- Type: Broker-dealer
- Material weakness: No
- Auditor: Deloitte
- Auditor location: Los Angeles, CA
- Contact: Doug Anderson
- Phone: 310-272-1360
- Email: isilva@canyonpartners.com
- Website: canyonpartners.com
- Signed by: Doug Anderson (Principal)
Original filing: https://www.sec.gov/Archives/edgar/data/846350/000084635026000003/canpub122025.pdf
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CP INVESTMENTS LLC (A Wholly Owned Subsidiary of CANYON PARTNERS, LLC) (SEC I.D. No. 8-40862)
## FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES FOR THE YEAR ENDED DECEMBER 31, 2025, AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM \*\*\*\*\*\*
Filed pursuant to Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a PUBLIC DOCUMENT.
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
> ANNUAL REPORTS FORM X-17A-5 PART III
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SEC FILE NUMBER
8-40862
FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING 12/31/25 FILING FOR THE PERIOD BEGINNING 01/01/25 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: CP INVESTMENTS LLC TYPE OF REGISTRANT (check all applicable boxes): 0 Security-based swap dealer \_ \_ \_ \_ Major security-based swap participant Broker-dealer O Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 2000 Avenue of the Stars, 11th Floor (No. and Street) Los Angeles 90067 CA (State) (Zip Code) (City) PERSON TO CONTACT WITH REGARD TO THIS FILING Luis A. Silva (214) 253-6000 Isilva@canyonpartners.com (Area Code - Telephone Number) (Email Address) (Name) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Deloitte & Touche LLP (Name - if individual, state last, first, and middle name) 555 West 5th Street, Suite 2700 Los Angeles CA 90013 (Address) (City) (State) (Zip Code) October 20, 2003 34 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) FOR OFFICIAL USE ONLY
\* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable.
Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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#### OATH OR AFFIRMATION
| Douglas Anderson | | , swear (or affirm) that, to the best of my knowledge and belief, the | |
|----------------------------------------------------------------|--------------------------------------------------------------------------------------------|-----------------------------------------------------------------------|-------|
| financial report pertaining to the firm of CP Investments, LLC | | | as of |
| December 31 | 2 025 is true and corract I furthar avoar (or affirm) that naithouther she company not any | | |
ie and correct. I further swear (or affirm) that neither the company nor any 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.
| Signature: | |
|-------------------------|--|
| Title: | |
| Chief Executive Officer | |
#### This filing \*\* contains (check all applicable boxes):
- (a) Statement of financial condition.
- (b) Notes to consolidated statement of financial condition.
- □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
- [ (d) Statement of cash flows.
- [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- [ (f) Statement of changes in liabilities subordinated to claims of creditors.
- [ (g) Notes to consolidated financial statements.
- [ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
- [ {i) Computation of tangible net worth under 17 CFR 240.18a-2.
- [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- | | | | | Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- [ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
- [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- [ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- [] (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- [p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- | (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- [ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [ {x} Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
- □ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- O (z) Other:
- \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable.
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#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Managers and Member of CP Investments LLC
#### Opinion on the Financial Statements
We have audited the accompanying statement of financial condition of CP Investments LLC (the "Company") as of December 31, 2025, and the related statements of operations, cash flows, and changes in member's capital for the year then ended, and 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, 2025, 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 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.
#### Report on Supplemental Schedules
The accompanying supplemental schedules h, j, and m (collectively "the supplemental schedules") have been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental schedules are the responsibility of the Company's management. Our audit procedures included determining whether the supplemental schedules reconcile 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 schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in compliance with Rule 17a-5 under the Securities Exchange Act of 1934. In our opinion, such schedules are fairly stated, in all material respects, in relation to the financial statements as a whole.
February 23, 2026
We have served as the Company's auditor since 1995.
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# CP INVESTMENTS LLC
# STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025
# ASSETS
| Cash and cash equivalents (Note 2) | \$
532,972 |
|----------------------------------------|---------------|
| Prepaids and other assets | 84,009 |
| TOTAL | \$ 616,981 |
| | |
| LIABILITIES: | |
| Accounts payable and accrued expenses | \$
35,560 |
| Total liabilities | 35,560 |
| COMMITMENTS AND CONTINGENCIES (Note 7) | |
| MEMBER'S CAPITAL | |
| TOTAL | \$ 616,981 |
See notes to financial statements.
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# CP INVESTMENTS LLC
## NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2025
## 1. NATURE OF OPERATIONS
broker-dealer under the Securities Exchange Act of is a wholly owned subsidiary of Ca e Parent is wholly owned by CP acement agent services to certain private funds advised by affiliated entities.
## 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation - The accompanying financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and in the format prescribed by Rule 17a-5 under the 1934 Act for brokers and dealers in securities.
Cash and cash equivalents three months of less to be cash equivalents. At December 31, 2025, cash and cash equivalents consist of approximately \$532,972 in a money market mutual fund (NWTXX).
Securities Transactions - Securities transactions for the accounts of the Company or its customers are executed and cleared by an independent clearing agent on a fully disclosed basis. Commission revenue ions and securities transactions of the Company are recorded on a trade-date basis. There were no securities transactions during the year.
Placement Agent Service Fees - The Company earned placement agent service fees from Canyon Capital services in connection with identifying prospective investors that may invest in the limited partner interests or other similarly styled equity interests of one or more investment entities and/or any parallel funds managed by CCA, River Canyon, or CPRE. Placement agent service fees are recognized when the underlying services are rendered in accordance with performance obligation is to serve as the exclusive private placement agent to the funds managed by CCA, River Canyon, and CPRE. Revenues related to such performance obligation are recognized over time, in this case monthly, commensurate with when services are rendered. The consideration is fixed based on services provided, without any variable consideration.
The Company enters into contracts with Canyon affiliated funds of CCA, River Canyon, and CPRE (i.e., the customer) to provide placement agent services, at an established transaction price as stipulated in the placement agreements. Collectively, the services are considered a single performance obligation, in which s direction where it assumes all credit risks. Management has evaluated principal-versus-agent considerations on its financial statements, and has determined that it acts as the principal when performing placement agent services. As a result, such revenue is recorded on a gross basis.
Use of Estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities,
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disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management relate primarily to accrued expenses.
Reportable Segment - Management has determined that the Company operates in one segment, given the similarities in economic characteristics between its operations and the common nature of its products and services, production and distribution process, and regulatory environment.
The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of one class of service to provide placement agent services to certain private funds advised by CCA, River Canyon, and CPRE. The Company has identified its Chief Financial Officer as the chief operating decision e results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 5), which is not a measure of profit and loss, to make operational decisions while maintaining capital 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 Company earns 100% of its revenue in the United States of America. Additionally, the Company earns all of its revenue from related parties (see Note 3). 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. Additionally, the revenue and expense amounts reviewed by the CODM are at the same level of disaggregation as those presented
Financial Condition - The Company has experienced substantial recurring losses from operations as of its operations and to meet its capital requirements is dependent on continued financial support from the Parent either directly or through contributions received from NewCo on an as needed basis. The Parent and NewCo have represented their willingness and ability to continue to provide financial support to the Company for terms that extend through at least one year and a day beyond the date the financial statements are issued.
Recently Adopted Accounting Pronouncements - The Company has reviewed all recently issued accounting pronouncements and has determined that there are no new standards or interpretations that are applicable or that are expected to have a material impact on its financial position, results of operations, or cash flows upon adoption for the year ended December 31, 2025.
# 3. RELATED-PARTY TRANSACTIONS
The Company has an agreement in place with the Parent whereby the Parent charges the Company for its allocable share of general and administrative services provided to the Company. The primary allocated expenses are compensation, employee benefits, and overhead expenses that include, but are not limited to, lease and office space, office equipment, supplies and furnishings, telecommunications equipment, and computer hardware and software. The allocation methodology is derived from overhead expense and wages and salaries of registered personnel of the Company with respect to services provided on behalf of the Company. For the year ended December 31, 2025, \$1,050,000 was incurred in expenses and paid in full for these services and is included in the statement of operations. As previously indicated, the Company earns placement agent service fees from affiliated entities that include CCA, River Canyon, and CPRE. revenues operations for such fees. Related party revenue and expense transactions are settled in cash monthly, or more frequently if needed. Additionally, the Company has a letter of support representing that from the Parent and NewCo will be willing and able to provide capital contributions when needed to ensure the efore, if the Company were a stand-alone entity, the financial statements presented could be materially different.
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The Company received capital contributions of \$250,000 from the Parent in 2025.
# 4. INCOME TAXES
As a limited liability company, no provision for federal or state taxes is made in the accompanying financial statements, as the Company is not subject to income taxes. The Company files California and Texas tax returns and pays California LLC tax and fees. The Parent is responsible for reporting income or loss to the extent required by the federal and state income tax laws and regulations.
The Company accounts for uncertain tax positions in accordance with FASB ASC 740, Income Taxes. The Company reviews and evaluates tax positions in its major jurisdictions and determines whether or not there are uncertain tax positions that require financial statement recognition. As of and during the year ended December 31, 2025, the Company did not have a liability for any unrecognized tax benefits nor did it recognize any interest and penalties related to unrecognized tax benefits. In addition, the Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. As a result, no income tax liability or expense related to unrecognized tax benefits has been recorded in the accompanying financial statements. The Company will continue to review any conclusions reached regarding uncertain tax positions that may be subject to review and adjustment at a later date based on ongoing analysis of tax laws, regulations, and interpretations thereof. To the exte the conclusions reached regarding uncertain tax position changes, such changes in estimate will be recorded in the period in which such determination is made. The Company recognizes tax-related interest and penalties, if applicable, as a component of other expense and income tax expense, respectively.
The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by state and local jurisdictions, where applicable. As of December 31, 2025, the tax years that remain subject to examination by the state of California under the statute of limitations are 2021, 2022, 2023, 2024 and 2025.
# 5. NET CAPITAL REQUIREMENTS
The Company is subject to the Securities and (Rule 15c3-1), which requires the maintenance of minimum net capital. The Company has elected to use the alternative method, permitted by the rule, which requires that the Company maintain minimum net capital, as defined, equal to the greater of \$250,000 or 2% of aggregate debit balances arising from customer transactions, as defined. As of December 31, 2025, the Company had net capital of \$486,752, which is \$236,752 in excess of required net capital.
# 6. RESERVE REQUIREMENTS AND INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS FOR BROKERS AND DEALERS
The Company is exempt from the Computation of a Reserve Requirement and Possession or Control Requirements of Rule 15c3-3 because the Compa specified in Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. Refer to Supplemental Schedules j and m in this report.
## 7. COMMITMENTS AND CONTINGENCIES
The Company can be named in legal actions arising in the ordinary course of business. Management is of the opinion that the ultimate liability, if any, from these actions will not have a material effect on its
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financial condition or results of operations. As of December 31, 2025, the Company has not been named in any legal actions that would require recording any liabilities.
### 8. SUBSEQUENT EVENTS
Company through the date the financial statements were available to be issued, and concluded that no subsequent events have occurred that would require recognition or disclosure.
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Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.