# PORT SECURITIES, INC. X-17A-5 (2026-02-18) — Broker-dealer annual report - Company: PORT SECURITIES, INC. - Form: X-17A-5 - Filed: 2026-02-18 - Period: 2025-12-31 - Accession: 0001046414-26-000003 - CIK: 1046414 - File #: 8-50492 - Type: Broker-dealer - Material weakness: No - Auditor: Anson Brian - Auditor location: Burbank, CA - Contact: Richard H Lemmon Jr - Phone: 9495749286 - Email: lem07on@portsecurities.com - Website: portsecurities.com - Signed by: Richard H Lemmon Jr (President) Original filing: https://www.sec.gov/Archives/edgar/data/1046414/000104641426000003/audit_1.pdf --- {0}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** ## **ANNUAL REPORTS FORl'yl X-17 A-5 PARTHI** | , i
0MB APPROVAL | | |----------------------------|--| | '0MB Number: 3235-0123 | | | :~pires: Nov. 30, 2026 | | | I Estimated average burden | | | ;ilou~ penesponse: 12 | | j i | SEC HU: NUMBER | | | | |----------------|--|--|--| | | | | | | | | | | | , 8-50492 | | | | | | | | | | | | | | **FACING PAGE** | FACING PAGE
Information Required Pursuantto Rules 17a-S, 17a-12, and 18a-7 under the Securiti~s Exchange Act of 1934 | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------| | ,,
FILING FOR THE PERIOD BEGINNING 01/01/2025 | ________
12/31/2025 | | AND ENDING
r.JJM./DD/YY | _
MM/DD/YV | | A. REGISTRANT IDENTtACATION | | | •
,
. I , , •
N.AME OF FIRM: PORT SECURITIES, lNC | | | TYPE OF REGISTRANT (check all applicable box~s):
D Security-based swap dealer
0 Major security-bas~d swap participant
@ Broker-dealer
D Check here if respondent is also an OTC derivatives dealer
'
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | 2717 W Coast HWY | | | (No.,.and Street)
Newport Beach
CA | 92663 | | (State)
(City} | {Zip Code} | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | Richard H Lemmon Jr.
949-574-9286 | Lem07on@portsecurities.com | | (Area Code~Telephone Number)
(Name}
(Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | INDEPENDENT PUBLIC ACCOUNTANT whose rep,Qrts are contained in this filing* ;
Brian W. Anson, CPA | | | (Name - if individual, state last, first, and middle name) | | | Burbank
CA
18455 Burbank Blvd., Suite 406 | 91356 | | (Address}
(St/lte)
2370
September 15, 2005 | (Zip Code) | | {r
of Regi"""1oo with PCAOBK• appliable) FOR ofHCIAL USE ONLY | {PCAOB Regi~ """""'· if appHrabk,) | | | | accountant must be supported by a statement of facts ;md circumstances relied on as the basis ~f the exemption, See 17 CFR 140.17a-S{e)(1)(ii), if applicabre, • ii Persons who are to respond to the collection of informatfon contained in this form are not requl~d to respond unless the form displays a currently valid 0MB control number. {1}------------------------------------------------ | I, Ricilard H !emmon Jr. | | . ·'.i swear (or affirm) that, to the be\$~ of my knowledge and belief, the | | |---------------------------------------------------------------------|-----|-----------------------------------------------------------------------------|-------| | financial report. pertaining to the firm of Port Securiti!:l~, Inc. | . . | ' L | as of | December 31 . 2~ is true a~d correct. I further swear (or affirrti) that neither the company nor any partner, officer, director, or equivalent person, as the cise may be, has any proprietary interest in any account classified solelv as that ofa customer. :1 ; • President Title: •••• H / ## **This filing\*\* ,,contains (check all applicable boxes):** i - - ii {a) Statement of financial condition. I . D (b} Notes to consolidated statement of financial condition. . f , - ii {c) Statement of income (loss} or, if there is other corri~rehensive income in the period(s} presented, a statement of comprehensive income (as defined in § 210.1"02 of Ri l,gulation **S-X).** I - **!iii** (d} Statement of cash flows. [ - ii {el Statement of changes in stockholders' or partners' :or sole proprietor's equity. - D (f} Statement of changes in liabilities subordinated to. ii:Jaims ofcreditors. ; - **!iii** (g) Notes to consolidated financial statements. Ii - ii {h) Computation of net capital under 17 CFR 240.15c3f 1 or 17 CFR 240.18a~1, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a•2. - ii (0 Computation for determination of customer reservt requirements pursuant to Exhibit A.to 17 CFR 240.15c3-3. - D (k) Computation\_ for determination of security-based s 1 [jiyap reserve requirements pursuanUo Exhibit B to 17 CFR 24Q.15c3-3 or Exhibit A to 17 CFR **240.18a-4,** as applicable. • - 0 (I} Computation for Determination of PAB Requirernehts under Exhibit A to§ 240.15c3~3. - - ii (Ill) Information relating to possession or control reqJ,irements for customers under 17 CFR. 240.15c3-3. I' ' 0 (n) Information relating to. possession or control requ\rements for security-based swap customers under 17 CFR Z40.15c3-~{~}~2) or\_17 CF~ 240,18a-4'. as applicabl~. [ . . .. . . \_ [ \_ . . . - ii (o) Reconahations, mcludmg appropnate explanation~, of the FOCUS Report with computation of net captta1 or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, ot 11 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3--3 or 17 CFR 240.lBa-4, as applicable, iffJlaterial differences exist, or a statement that no material differences • - D ~:;~~mmary of financial data for subsidiaries not conJolidated in the statement of financiJI condition. - ii {q} Oath or affirmation in accordance with 17 CFR 240~ 7a-5, 17 CFR 240.lla-12, or 17 uR 240.18a-7, as applicable. - D (r} Compliance report in accordance with 17 CFR 24QJ;7a-5 or 17 CFR 240.18a-7, as applicable. - Iii (s) Exemption report in accordance with 17 CFR 240.lta-5 or 17 CFR 240.18a-7, as applicable. I . . - D (t) Independent public accountant's report based on ah examination of the statement of fihancial condition.· - D {u} Independent public accountant's report based on d'n examination ofthe financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-11?, as applicable. •• . - D (v) Independent public accountant's report based on Jrt examination of certain statements in the compliance report under 17 CfR 240.17a-5 or 1iCFR 240.18a-7, as applicable. I: - [ii (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 I: , CfR 240.18a-7, as applicable. . Ii . . . : - □ {x} Supplemental reports on applying agreed-upon pr~edures, in a.ccordance with 17 CFR ?,40.15c3-1e or 17 CFR 240.17a-12, as applicable. l1 • - D {. y) Report describing any n:at~rial inad~uaci~s fi.ound ~ . Q. e ...xist or found to have existed since . the date ofthe previous au.dit, or a statement that no matenal madequac1es exist, unde , 17 CFR 240.17a-12(k). - 0 {z~ other: . . 1 . . . i: . . . \*\*To request confidential treatment of certain portions *'pf* this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7{d){2), as applicable, ' {2}------------------------------------------------ #### Pott Securities, Inc. Statement ofr Financial Condition December 31, 2025 Cash Clearing deposit Commission receivable Prepaid expenses Liabilities ASSETS Total Assets LIABILITIES ANO STOCKHOLDER'S EQUITY Accounts payable and other accrued expenses Total Liabilities Stockholder's Equity Common stock (1500 shares authorized, 51 shares issued and outstanding, no par value) Paid-in capital Retained Earnings \$ 1,500 47,000 268,007 Total Stockholder's Equity Total Liabilities and Stockholder's Equity 247,047 55,073 37,026 4,717 343,863 ------- ------- 37,047 37,047 306,816 343,863 ======= See Auditor's Report and Accompanying Notes to Financial Statements {3}------------------------------------------------ #### i Port Securities, Inc. Statement of Income For The Year EJded December 31, 2025 I , | Revenue
Commissions
12B1 Fees
Interest Income | Total' Revenue | \$
360,440
158,878
1,006
520,324 | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | Operating Expenses | | | | Auto
Clearing charges
Commissions
Data and communications
Insurance
Office expenses
Professional services
Regulatory fees
Rent
Salaries, wages
SEP IRA
Telephone
Travel and entertainment
All others | | 10,210
46,261
245,172
15,368
2,615
4,297
10,320
4,158
13,793
30,000
6,000
2,569
62,576
3,283 | | | Total Op~rating Expenses | 456,622 | | Income before tax and provision
Income tax provision | | 65,309
800 | | Net Income | | 65,309
======= | | | | | See Auditor's Report and Accompanying Notes !Financial Statements {4}------------------------------------------------ ## PortS!ecurities, Inc Statement of Changes In Stockholder's Equity For the Year ' · December 31, 2025 ,, .. }1, h | | Common | | | | | |---------------------------------------------------------------------|--------|--------------------------|--------------------|-----------------------|------------| | Stock
Shares | | Coi:r,mon
,Stock
I | Paid-In
Capital | Retained
Ecirnings | Total | | Balance December 31, 2024 51 | \$ | !
:i,~soo | \$ 27,000 | \$ 268,007 | \$ 296,507 | | Net Income | | | | 65,309 | 65,309 | | Distributions | | I | | (55,000) | (55,000) | | | | I
i
I | | | | | Balance December 31, 2025 51 | \$ | i
t,500 | \$ 27,000 | \$ 278,316 | \$ 306,816 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | See Auditor's Report and Accompanying Notes t1 Financial Statements | | | | | | | | | I
i '
i | | | | | | | I | | | | | | | | | | | {5}------------------------------------------------ #### Port Securities, Inc. Statement of Cash Flows For the Year Ended December 31, 2025 | Cash Flows from Operating Activities
, Net Income
Adjustments to reconcile net income to net
cash provided by operating activities:
(Increase) decrease in Clearing Deposit
{Increase) decrease in Commission Receivable
{Increase) decrease in prepaid expenses
Increase (decrease) in accounts payable | (1,316)
29,496
(1,102)
{8,666) | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------| | Net cash flows provided by operating activities | 83,721 | | | | | | | | | | | Cash Flows from Financing Activities
Distributions | (55,000) | | | | | Net increase in' cash | 2,8,721 | | Cash at beginning of year | 218,326 | | | | | Cash at end of year | 247,047 | | | | | Supplemental Information | | | Interest paid | \$ | | Income taxes paid | \$
800 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | See Auditor's Report and Accompanying Notes to Financial Statements | | | | | {6}------------------------------------------------ #### Port Securities, Inc Notes to Financial Statement December 31, 2025 ## Note 1-Organization ahd Nature of Business Part Securities, Inc. (the "Company") was incorporated in the State of California o.n July 9, 1997. The • i J Campany is a registered broker-dealer with the Securities and Exchange Commi~sion (SEC), the Financial Industry Regulatory Authority ("FINRA"), Municipal Securities RulemakiJg Board ("MSRB") and the Securities Investor Protection Corporation ("SIPC"). : ! ! ! f i I. I • ! ' r • I l Note 2 - Significant Accounting Policies i I Basis of Presentation - The Compa.ny conducts the following types of business a i !a securities brokerdealer, which comprises several classes of services, including: i I Broker or dealer retailing corporate equity services, including: ! Broker or dealer selling government debt securities Mutual fund retailer Municipal securities broker , Broker or dealer selling variable life insurance or annuities .Put and call broker or dealer or option writer Private placement of securities The Company is exempt from the requirement of Rule 15c3~3 ,under the I ; Securities Exchange Act of 1934 pertains to the possession or control of customtr assets and reserve requirements. I 1 I l The presentation of financial statements in conformity with accounting principl1s generally accepted in the United States of America requires management to make e\$timates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets ahd liabilities at the date of the financial statements and the reported amounts of revenue and expenses iduring the reporting period. Actual results could differ from those estimates. I j I \ Concentration of Credit Risk. The company maintains cash balances with various,financial institutions. Management performs periodic evaluations of tile relative credit standing of th~se institutions. The Company has not sustained any material credit losses from these instruments. !, Revenue is measured based on a consideration specified in a contract with a cu ~omer, and . . I excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue w. hen it satisf. ied a performance obliga. tion. by tra. nsferr.ingcr'. ·\_.ntrol over a product or service to a customer. . ' .. ' The following is a description of activities- separated by reportable segments, pMr FINRA Form "Supplemental Statement of Income (SSOI)"; from which the Company generates its revenue. , , I ~ Commissions: This includes performance obligations related to transactions tha;t) are subject to SEA Rule l0b-10 for any renumeration that would need to be disclosed. It also includes a)~Y transac~ion when the Co. mpany is engaged as an agent. It does n\_ ot include net gains or losses from trr' ,\_,\_nsactions made by the Gompany when acting as a principal, or riskless principal. : {7}------------------------------------------------ ### Port Securities, Inc Notes to Financial Statement December 31, 2025 Revenue from the sale of Investment Company Shares: This includes concessionl earned from the sale of open-ended mutual funds that contain a load. Included are commissions charg,ed on transactions on no load funds and UIT's to the extent they are open-ended companies. *(* Revenue from sale of Insurance Based Products: This includes revenue from any'\_yariable annuity or any other financial instrument that contains an insurance and security component a~1 d includes fixed Annuities. Interest/Rebate/Dividend Income. This includes rebates and/or interest earned on Securities borrowings; reverse repurchase transactions; Margin interest; interest earned ft1m customer bank sweep into FDIC insured products and '40 Act investments and any interest and/1:r dividends on securities held in Firm inventory. - ! , ' f Fees earned: This includes fees earned from affiliated entities; investment banki g fees, M&A advisory; Account supervision and investment advisory fees; administrative fees, revenue; irom research services; Rebates from exchanges/ECN and ATS; 12b-1 fees; Mutual fund fees other than ;doncessions or 12b-1 fees; execution service fees; clearing services; fees earned from customer bank stveep into FDIC insured Products or from '40 Act companies and networking fees from '40 Act compani~i - Taxes and regulatory fees assessed by a government authority or agency that a~d both imposed on and concurrent with a specified revenue-producing transaction, that are colle~ted by the Company from a customer, are excluded from revenue. ! , I Commissions- Commissions and related clearing expenses are recorded on a traqe-date basis as Securities transactions occur. ' I ; i Provision for Income Taxes- The Company has elected to be taxed under the prqvisions of subchapter s .of the Internal Revenue Code and comparable State of California statutes wh~r~in the Company's Taxable federal and state income is taxed directly to the stockholder. Additionallw, the state of California Imposes a 1.5% state franchise tax on the corporation's taxable income. i• ! 'I The accounting principles generally accepted in the United States of America pr~vide accounting and disclosure guidance about positions ta\_ken by an organization in its tax returns *th~at* might be uncertain. Management has considered its tax positions and believes that all of the positidriis taken by the Company in its Federal and State organizations tax returns are more likely than i~ot to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from 2022 to the present, generally for three years after they are filed. {8}------------------------------------------------ ### Port securities, Inc Notes to Financial Statement December 31, 2025 . . , l Segment Reporting: The company is engaged in~ single line of business as a securities broker dealer, wlhich is comprised of several classes of services~ including principal transaction~ and agency transaction businesses. The Company has identified its President as the chief operating deci\$ton maker (CODM), who uses net income to evaluate the results of the business, predominantly in forecasting process, to - 'I manage the Company. 1 l I j: I :. ' i !- l i i I ' j Aclditionally, the CODM uses excess net capital, which is not a measure of profit[Jnd loss, to make operational decisions while maintaining capital addquacy, such as whether to re\flvest profits or pay dividends. The Company's operations constitute a Jingle operating segment and'therefore, a single -, J ,, ' ' ' reportable segment, because the CODM manages the business activities using i'r\formation from the Company as a whole. The accounting polices used to measure the profit and los\$ :of the segment are the same as those described in the summary of signific~nt accounting policies. 1 : I I Note 3 - Fair Value '' FASB ASC 820 defines fair value, establishes a framrwork for measuring fair valye, and establishes a fair value hierarchy which prioritizes the inputs to val'u~tion techniques. Fair value ;~'the price that would be received to sell an asset or paid to transfer a liabili~y in an orderly transaction b~tween market participants at the measurement date. A fair valu~ measurement assumes that ~J,e transaction to sell • I • ' the asset or liability or, in the absence of a princip1 1 market, the most advantagfous market for the asset or liability. Valuation techniques that are cor)sistent with the market, inco:me or cost approach, as I I. specified by FASB ASC 820 are used to measure fai~ value. I The fair value hierarchy prioritizes the inputs to va uation techniques used to measure fair value into three broad levels: I Level 1 inputs are quoted prices (unadjust d) in active markets for identical assets or liabilities I the Company has the ability to access. I • ! ' Level 2 inputs are inputs (other than quote,d prices included within Lev~I 1) that are observable for the asset or liability, either directly or ihdi'rectly. i > ! r Ii. • I r Level 3 are unobservable inputs for the asJet or liability and rely on ma~agement's own assumptions about the assumptions that ~arket participants would us~ :in pricing the asset or liability. (The unobservable inputs should \be developed based on the b~st information available in the circumstances and may include the tompany's own data.) ' I There were no levels to measure on December 31) 2025. I {9}------------------------------------------------ ### Port Securities, Inc Notes to Finahdal State'ment December 31, 2025 i ! . l ' i ! f: ! i' j 'i Note 4- Receivable from and Payable to Broker-Dealers and Clearing Organizatio:ris Amounts receivable from and payable to broker-dealers and clearing organizatio~s at December 31, 2025, consists of the following: • I | | Receivable | J
payable | |-----------------------------------------|------------|--------------| | Fees and commissions receivable/payable | \$37,026 | ::so | | | | : r | : ' The Company clears certain proprietary and customer transactions through an.otber broker-dealer on a fully disclosed basis. • • Note 5 - Concentration of Credit Risk ' The Company is engaged in various trading and brokerage activities in which co4~terparties primarily include broker-dealers, banks, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depernds on the creditworthiness of the counterparty or issuer of the instrument. It is the Comp~~y's policy to review, as necessary, the credit standing of each counterparty. Note 6 - Net Capital Requirements The Company is subject to the SEC Uniform Capital Rule {SEC Rule 15c3-1), which\_ requires the maintenance of minimum net capital and requires that the ratio of aggregate in~.ebtedness to net capital, both as defined, shall not exceed 15 to 1. As of December 31, 2025, the Company had net capital of \$302,099 which was \$297,099 in excess of its required net capital of \$5,000. The Company's net capital ratio was .12 to 1. Note 7 - Income Taxes I :. As discussed in note 2 - Significant Accounting Policies, the Company is·subject tb a 1.5% tax on net income over the minimum tax of \$800. On December 31, 2025, the Company re:corded franchise tax of **\$800.** • N.ote 8 - Deposit - Clearing Organization The Company has an agreement with a c\_learing broker which requires a minim1,1m deposit of \$50,000. '. {10}------------------------------------------------ ### Port Securities, Inc Notes to Financial Statement December 31, 2025 #### Note 9 - Exemption from the SEC Rule 15c3-3 The Company is an introducing broker-dealer that clears aH transactions with an~ for customers on a fully disclosed basis with an independent securities clearing company and promptly transmits all customer funds and securities to the clearing company, which carries all of the adcounts of such customers and maintains and preserves such books and records pertaining thereto pursuant to the requirements of the SEC Rule 17a-3 and 17-a-4, as are customarily made and kept by a clearing broker or dealer. , ' Note 10 - Operating Lease The Company leases office space on a month-to-month basis. Rent expense for the year end December 31, 2025, was \$13,793. Management has reviewed ASC 842 Lease Actounting and is not applicable to the Company as their lease is on a month-to-month basis. Note 11 - Retirement ,, The company has a SEP IRA of what the shareholder participates. Total retireme:nt contribution for the year ended December 31, 2025, was \$6~000. Note 12 - Subsequent Events Management has reviewed the results of operations for the period of time from its year end December 31, 2025, through February 2, 2026, the date the financial statementswere available to be issued, and has determined that no adjustments are necessary to the amounts reported in the accompanying financial statements nor have any subsequent events occurred, tre nature of which would require disclosure. {11}------------------------------------------------ ## Port Securities, Inc. ; ! Schedule I - Computation of Net Capital Requirement December 31, 2025 ' : i : I 11 i '1 ======== | | ; ! . ; | |--------------------------------------------------------------|------------------| | Computation of Net Capital | '!
' | | Total ownership equity from statement of financial condition | \$ 30~,816 | | Nonallowable assets | • 1
- ! ! f | | Prepaid expenses | (4,717) | | | i l | | | , I
' ! | | Net Capital | 3q2,099 | | | ,: ' ======= | | Computation of Net Capital Requirements | . i
~ : | | Maximum net aggregate indebtedness | | | 6~2/3 % of net aggregate indebtedness | :2470 | | | | | Minimum dollar net capital required | | | | | | Net Capital required (grater of above amounts)
I | ,5000 | | | | | Excess net capital at 1000% (net capital less 10% of | 197,099 | | Aggregate indebtedness) | | | | | | Computation of Aggregate Indebtedness | | | Total liabilities | 37,047 | | | ,.
-~-s------ | | Aggregate Indebtedness to net capital | .12 | | | ====== | | | | Tlhe following is a reconciliation of the above net capital computation with the .. Company's corresponding unaudited computation pursuant to Rule 179-5(d)(4): | Net Capital per Company's Computation | 302,099 | |---------------------------------------|---------| | Variance | | | Net Capital per Audited Report | 302,099 | {12}------------------------------------------------ ### Port Securities, Inc. Schedule II - Computation for Determination of Reserve Requirement under Rule 15c3-3 As of December 31, 2025 As computation of reserve requirements is not applicable to Port Securities, Inc. the Company qualifies for exemption under Rule 15c3-3 (k) (2) (ii) arnd as supported by footnote 74 to SEC Release 34-70073. {13}------------------------------------------------ #### I Port Securities, Int. I Schedule Ill -Computation for Determination of Reserv~ Requirement under Rule 15c3-3 As of December 31, 2025 Information relating to possession or control requirements is not applicable to ~Qrt Securities, Inc. as the C~mpany qualifies for exemptio~ under Rule 15c3-3 (k) (2) (ii) f I and as supported by footnote 74 to SEC Release 34-70073. ' 1 I i l I I : I l {14}------------------------------------------------ #### **Port Securities, Inc. Exemption Report** [ i ' i I ' d : i ! : l Port Securities, Inc. (the "Company") is a registered broker-dealer s4bject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F .R. §24Q. l 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prep;~ 1 red as required by 17 C.F.R. § 240.17a-5(d)(l) and. (4). To the best of its knowledge and belief, t.··. e Company states the following: i - ' (1) The Company claimed exemption from 17 C.F .R. § 240.15c3-~ under the following provisions of 17 C.F .R. §240.15c3-3 (k)(2)(ii) • - (2) The Company met the identified exemption provisions in 17 C.F.R. §240.15c3-3 throughout the most recent year wit~out exception. : I \_ - C 3 ) The Company is also filing this Exemption Report because th~ tcompany's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to:: (1 ) effecting securities transactions via subscriptions on a subscription way basis ehHe the funds ~re payable to the issuer or its agent and not the Company and Th~ Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or se¢prities for or to customers, ( other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) ofRule i 5c2~4 and/or funds received and promptly transmitted for effecting transactions vl! subscriptions on a subscription way basis where the funds are payable to the issu~r or its agent and not to the Company); (2) did not carry accounts of or for customer:~; and (3) did not carry PAB accounts (as defined in Rule 15c1-3) throughout the year:+nding December 31, 2025 without exception. ' i ,, f The statement above was made to the best knowledge and belief of the undersigJed. ' I Port Securities, Inc. **By:~** Title: President Date: February 2, 2026 {15}------------------------------------------------ ### **BRIAN W. ANSON** *Certified Public Accountant* 18455 Burbank Blvd., Suite 406, Tarzana, CA 91356 • Tel. **(818)** 636-5660 ### • **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** Board of Directors . Port Securities, Inc. Newport Beach, California I • ' I have reviewed management's statements, included in the accompanying Jtxemption Report in • which (1) Port Securities, Inc., identified the following provisions of 17 clt.R. §15c3-3(k) under which Port Securities, Inc, claimed an exemption from 17 C.F.R. §240.1543-3: (k)(2)(ii) (the "exemption provisions'') and (2) Port Securities, Inc., stated that Port Secunties, Inc., met the identified exemption provisions throughout the most recent year without exception and (3) Port Securities, Inc. stated that Port Securities, Inc. is also filing this Exemptiol). 'Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34- 70073 adopting amendments to 17 C.F.R. 240.17a-5 are limited to (1) effe¢ting securities transactions via subscriptions on a subscription way basis where funds are ipayable to the issuer or its agent and not the to Company; and the Company (1) did not directly !or indirectly receive, hold, or otherwise owe funds or securities for or to customers, ( other than money or other consideration received and promptly transmitted in compliance with pdragraph (a) or (b )(2) ofRule15c2-4 and/or funds received and promptly transmitted for effe~ting transactions via subscriptions on a subscription way basis where the funds are payable fo the issuer or its agent and not to the Company); (2) did not carry accounts of or for custotners; and (3) did not carry P AB accounts ( as defined in Rule 15c3-3) throughout the most recent: year ended December 31, 2025 without exception. Port Securities, Inc.' s management is responsible for compliance with the exemption provisions and its statements. ' • . l '' ! • '. ; My 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 Port Securities, Inc.' s compliance with the exemption provisions. 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, I· do not express such an opinion. Based on my review, I am not aware of any material modifications that should be made to the management's statements referred to above for them to be fairly stated, in all material respects. ~ • Certified Public Accountant Tarzana, California February 2, 2026 {16}------------------------------------------------ #### **BRIAN W. ANSON** *Certified Public Accountant* 18455 Burbank Blvd., Suite 406, Tart.ana, CA 91356 • Tel. (818) 636-5660 #### ' **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** i To the Stockholder's and Board of Directors of Port Securities, Inc. # i**Opinion on the Financial Statements** i I have audited the accompanying statement of financial condition of Port Securjties, Inc. as of December • 31, 2025, the related statements of income, changes in stockholder's equity, and\ cash flows for the year then ended, and the related notes (collectively refeI1ied to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of Port Securities, Inc. as of December 31, 2025, and the results of its operations and its cash flows fo;r1 the year then ended in conformity with accounting principles generally accepted in the United States of:America. i ' #### **Basis for Opinion** These financial statements are the responsibility of Port Securities, Inc.'s manag¢ment. My responsibility is to express an opinion on Port Securities, Inc.'s financial statements based on. 'my audit. I am a public accounting finn registered with the Public Company Accounting Oversight' Board (United States) (PCAOB) and am required to be independent with respect to Port Securities, 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. • I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I 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. My audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to errot or fraud, and performing procedures that respond to those risks. Such procedures included examining, pn a test basis, evidence regarding the amounts and disclosures in the financial statements. My audit also, included evaluating the accounting principles used and significant estimates made by management, as evaluating the overall presentation of the financial statements. I believe that my audit provides a reason~ble basis for my opinion. #### **Auditor's Report on Supplemental Information** The information contained in Schedule I, II, and III! ("Supplemental Information") has been subjected to audit procedures performed in conjunction with the audit of the Port Securities, Inc. 's financial statements. The Supplemental Information is the responsibility of the Port Securities, Inc.'s management. My 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 information presented in the Supplementa~ Information. In forming my opinion on the Supplemental Information, I evaluated whether the Supplemental Infonnation, including its form and content is presented in conformity with [ 7 C.F.R. § 240.17a-5. In my opinion, Schedules I, 11, and III are fairly stated, in all material respects, in reilation to the financial statements taken as a whole. *ffett1* Brian W. Anson Certified Public Accountant I have served as Port Securities, Inc.'s auditor since 2018. Tarzana, California February 2, 2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.