# WESTMINSTER INVESTMENT GROUP, INC. X-17A-5 (2026-05-07) — Broker-dealer annual report - Company: WESTMINSTER INVESTMENT GROUP, INC. - Form: X-17A-5 - Filed: 2026-05-07 - Period: 2025-12-31 - Accession: 0001071696-26-000005 - CIK: 1071696 - File #: 8-51326 - Type: Broker-dealer - Material weakness: No - Auditor: Karki, Ryan D - Auditor location: Landenberg, PA - Contact: Sandra Lee Burry - Phone: 724-654-7880 - Email: westinvest@verizon.net - Signed by: Sandra Lee Burry (President) Original filing: https://www.sec.gov/Archives/edgar/data/1071696/000107169626000005/AUDITREPORT2025.pdf --- {0}------------------------------------------------ | | UNITED STATES | | ONE APPROVAI | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|-----------------|---------------------------------------------------------|--| | | SECURITIES AND EXCHANGE COMMISSION | | OME: Number: 3235-0123 | | | | Washington, D.C. 20549 | | Expares: Nov. 30, 2026
Estimatient awestage bunneers | | | | | | Summer per responnele
12 | | | | ANNUAL REPORTS | | SEC FILE NUMBER | | | | FORM X-17A-5 | | 8-51326 | | | | PART II | | | | | | | | | | | | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | | | | | | 12/31/25 | | | FILING FOR THE PERIOD BEGINNING 01/0125 | MM/DD/YY | AND ENDING | | | | | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: Westminster Investment Group, Inc. | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer - Security-based swap dealer
Check here if respondent is also an OTC derivatives dealer | | | LI Major security-based swap participant | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 23 East North Street | | | | | | | (No. and Street) | | | | | New Castle | PA | | 16101 | | | 10 10:40 | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Sandra Lee Burry | 724-654-7880 | | westinvest@verizon.net | | | Name) | (Area Code - Telephone Number) | | (Ennan Acadress) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | RW Group, LLC | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filling ** | | | | | | (Name - if individual, state last, first, and middle marme) | | | | | PO Box 114 | Landenberg | PA | 19350 | | | Address | ( 10%) | (State)
5020 | (Zip Code) | | | 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 be covered by the reports of an independent public | | | | accountant must be supported by a statement of facts and circumstances redied 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. {1}------------------------------------------------ #### OATH OR AFFIRMATION | Sandy Lee Burry | , swear (or affirm) that, to the best of my knowledge and belief, the | | |---------------------------------------------------------------------------------|-----------------------------------------------------------------------|--| | firmancial renort nertaining to the firms of Westminster Investment Group. Inc. | | | 12/31 , 2 025 \_\_ is true 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: Inte President #### This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consollidated statement of fimancial 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 Regullation S-X). - = (d) Statement of cash flows. - [e] Statement of changes in stockholders' or partners' or sole proprietor's equity. - [1] Statement of changes in liabilities subordinated to claims of creditiors. - [g) Notes to consolidated fimancial 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. - [k] 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. - [1] 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. - [0] Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible 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 esist, 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 exist or 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 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ ### WESTMINSTER INVESTMENT GROUP, INC. ### FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT ### DECEMBER 31, 2025 {3}------------------------------------------------ ## WESTMINSTER INVESTMENT GROUP, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2025 ### CONTENTS ### PAGE | PUBLIC ACCOUNTINGFIRM 3
REPORT OF INDEPENDENTREGISTERED | | |--------------------------------------------------------------------------------|-----| | FINANCIAL STATEMENTS | | | Statement of Financial Condition | 4 | | Statement of Income | 5 | | Statement of Changes in Stockholders' Equity | 6 | | Statement of Cash Flows | 7 | | Notes to Financial Statements | 8-9 | | Schedule I - Computation of Net Capital | 10 | | Schedule II - Computation of Basic Net Capital Requirements | 10 | | Schedule III - Reconciliation with Company's Computation under
Rule 15-c3-l | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBTIC ACCOUNTING FIRM To the Shareholder of Westminster lnvestment Group, lnc. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Westminster lnvestment Group, lnc,, as of December 3!,2025, and the related statements of income, changes in stockholders' equity, and cash flows for the yearended December3T,2025andtherelatednotes(collectivelyreferredtoasthe"financial statements"). lnour opinion, the financial statements present fairly, in all material respects, the financial position of Westminster lnvestment Group, lnc. as of December 31,2025, and the results of its operations and its cash flows for the year ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion These financial statements are the responsibility of Westminster lnvestment Group, lnc.'s management. Our responsibility is to express an opinion on Westminster lnvestment Group, lnc.'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 Westminster lnvestment Group, lnc. 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. #### Supplemental lnformation The computation of net capital, computation of basic net capital requirements, and computation of aggregate indebtedness, under Rule 15c3-1 of the Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of Westminster lnvestment Group, lnc.'s financial statements. The supplemental information is the responsibility of Westminster lnvestment Group, lnc.'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 information presented in the supplemental information. ln 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. 5240.17a-5. ln our opinion, the computation of net capital, computation of basic net capital requirements, and computation of aggregate indebtedness pursuantto Rule 15c3-1 of the Securities and Exchange Commission is fairly stated, in all material respects, in relation to the financial statements as a whole. 774) <& We have served as Westminster lnvestment Group, lnc.'s auditor since 2015. Landenberg, Pennsylvania April 28, 2026 {5}------------------------------------------------ ## WESTMINSTER INVESTMENT GROUP, INC. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 #### ASSETS | Cash and cash equivalents | \$ 24,263 | |---------------------------|-----------| | Accounts Receivable | 4.535 | | Total Assets | \$28J98 | ### LIABILITIES AND STOCKHOLDERS' EQUITY ### LIABILITTES Liabilities \$14.5s7 ### STOCKHOLDERS' EQUITY | Common Stock, without par value; 1,000,000 shares authorized, | | |---------------------------------------------------------------|-----------| | One share issued and outstanding | 3,000 | | Retained Earnings | 9,820 | | Net Income | 1,421 | | Total Stockholders' Equity | \$ 14.247 | | Total Liabilities and Stockholders' Equity | s28J98 | {6}------------------------------------------------ ### WESTMINSTER INVESTMENT GROUP, INC. STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31,2025 #### REVENUES | | Commissions from Sales of Mutual Funds
Other Income | \$ 105,307 | | |-----------|--------------------------------------------------------|------------|------------| | | Total Revenues | \$ 105,307 | | | | | | | | E)(PENSES | | | | | | Commissions | \$ 91,212 | | | | Legal and Accounting | | 11,000 | | | Licensing, Filing Fees, and Memberships | \$ | 1,590 | | | Other Operating Expenses | \$84 | | | | Total Expenses | | \$ 103,886 | | | Income/(Loss) before Provision for Income Taxes | \$ | 1421 | | | Provision for Income Tax | | | | | Net lncome/(Loss) | \$ | 1421 | | | | | | {7}------------------------------------------------ ### WESTMINSTER I|i-VESTMENT GROUP, INC. STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEAR ENDED DECEMBER 31,2025 | | Common
Stock | Retained
Earnings | Total | |-----------------------------|-----------------|----------------------|----------| | Balance at December 31,2024 | \$ 3,000 | \$9,920 | \$12,920 | | Net Income/(Loss) | | \$ 1.421 | \$1,421 | | Balance at December 31,2025 | \$ 3.000 | s11,241 | \$14 | {8}------------------------------------------------ ## WESTMINSTER INVESTMENT GROUP, INC. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31,2025 | CASH FLOWS FROM OPERATING ACTIVITIES | | | |-------------------------------------------------------------------------------|----------|---------------| | Net Income/(Loss) | \$ | 1,421 | | Changes in Assets and Liabilities:
Accounts Receivable
Accounts Payable | \$
\$ | -194
2.96s | | Net Cash Provided by Operating Activities | \$ | q,192 | | CASH AI\ID CASH EQUWALENTS
Cash and Cash Equivalents at Beginning of Year | | \$ 20,071 | | Cash and Cash Equivalents at End of Year | | g_24261 | {9}------------------------------------------------ ### WESTMINSTER IIWESTMENT GROUP, INC. NOTES TO FINAI\CIAL STATEMENTS DECEMBER 31, 2025 ### NOTE I \_ORGANIZATION Westminster Investment Group, lnc. (the Company) is a broker-dealer registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Company's activities are limited to the sale of registered investment company shares and variable annuity insurance contracts. #### NOTE 2 \_ SIGNIFICANT ACCOUNTING POLICIES The Company uses the accrual basis of accounting. Its accounting and reporting policies are in accordance with generally accepted accounting principles and conform to the general practices within the brokerage industry. The company adopted accounting standard ASC 606, which did not have a material impact on the company. The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of mutual funds and variable annuities. The Company has identified its President 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. 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. For both investment company shares and variable annuity insurance contracts, revenue is recognized at the date of the trade. For trails, both investment company shares and annuity insurance contracts, the revenue is recognized when collectible on a monthly or quarterly basis, based on the anniversary date of the investment. Accounts receivable consists of amounts due to investment company shares and annuity contracts. As of January 1,2025, the accounts receivable is \$4,341. #### NOTE 3 \_ NET CAPITAL REQUIREMENTS The firm is subject to the net capital rule of the Securities and Exchange Commission. This rule requires that the firm's ratio of "aggregate indebtedness," as defined, to "net capital," as defined, not exceed 15 to 1. At December 31,2025, the firm's ratio of aggregate indebtedness to net capital was 105.58 to 1, and net capital was \$13,787 as compared to the required minimum net capital of \$5,000. ### NOTE 4 - EXEMPTION FROM RULE 15c3-3 During 2025,the firm limited its business activities to the purchase, sale and redemption of shares of registered investment companies. Securities of customers were not accepted for safekeeping. The company does not routinely accept customer's funds and any funds sent to the company, which consisted solely of checks payable to registered investment companies, were promptly remitted. The company is therefore exempt from the customer reserve requirements of SEC rule 15c3-3 under section (k) (1). ### NOTE 5 - CASH EQTTTVALENTS The Company considers investments in liquid debt inshuments with original maturity dates of less than three months as cash equivalents for purposes of the Statement of Cash Flows. {10}------------------------------------------------ ### WESTMINSTER IiYVESTMENT GROUP, INC. NOTES TO FINANICIAL STATEMENTS DECEMBER 31, 2025 #### NOTE6-INCOMETAXES The Company has elected to file income tax returns as a subchapter S Corporation as defined in the Internal Revenue Code. Generally, an S Corporation is not subject to income taxes but rather, items of income, loss, deduction and credit pass through to stockholders in determining their individual income tax liability. The Company complies with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740,Income Taxes which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on the enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce the deferred income tax assets to the amount expected to be realize ASC 740 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 740 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the rnore-likely-than-not threshold would be recorded as tax benefit or expense in the current year. #### NOTE 7 - 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. This will affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates. #### NOTE 8 - SUBSEQTTENT EVEr{TS Management has evaluated subsequent events through April 28, 2026 date on which the financial statements were available to be issued. No events have occurred since the balance sheet date that would have material impact on the financial statements. {11}------------------------------------------------ ### WESTMINSTER INVESTMENT GROUP, INC. AT DECEMBER 31,2025 | | | SCHEDULE I | |--------------------------------------------------------------------------------------------------------|------------------------------|------------| | | COMPT]'IATION OF NET CAPITAL | | | Total Stockholders' Equity
Deductions and/or Charges
Non-Allowable Assets
Accounts Receivable | | g 14,24t | | Other Deductions/Charges | | -454 | | Net Capital | | L 13J87 | # SCHEDULE II ### COMPUTATION OF BASIC NET CAPITAL REQUIREMENTS | Minimum Net Capital Required
Minimum DollarNet Capital Requirement | L-,970
\$--5p00 | |----------------------------------------------------------------------------------|--------------------| | Net Capital Requirement \$ | L5-000 | | Excess Ner Capital | \$ 8J87 | | Excess Net Capital at l\yo of A.l. or
L20%ofMnimumDollarNetCapitalRequirement | 8 7J-W | | Percentage of Aggregate Indebtedness to Net Capital | 105.58% | Percentage of Debt to Debt-Equity Computed In Accordance with Rule 15c3-l(d) NIA #### COMPUTATION OF AGGREGATE INIDEBTEDNESS | Total Aggregate Indebtedness Liabilities | L=14J57 | |-----------------------------------------------------|---------| | Percentage of Aggregate Indebtedness to Net Capital | 105.58% | # SCHEDT]LE III ### RECONCILIATION WITH COMPAI\-Y'S COMPUTATION UNDERRULE 15-c3-1 There were no differences in the computation of net capital between this report and the corresponding computation prepared by the Company for inclusion in its unaudited Part II Focus Report as of December 31,2025. {12}------------------------------------------------ ![](_page_12_Picture_0.jpeg) Group, Inc. 23 East North Street New Castle, Pennsylvania 16101 724-654-7880 · Fax 654-7855 #### EXEMPTION REPORT December 31, 2025 To the best of our knowledge and belief, Westminster Investment Group, Inc.is exempt from the provisions of Rule 15c3-3(k)(1) because it meets the conditions set forth in paragraph (k) of Rule 15c3-3 pursuant to subparagraph 15c3-3(k)(1). The company met the exemption provision in paragraph (k)(1) of Rule 15c3-3 from the period January 1, 2025 through December 31,2025 without exception. Very truly yours, Sandra L. Burry President {13}------------------------------------------------ ![](_page_13_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholder of Westminster lnvestment Group, lnc We have reviewed management's statements, included in the accompanying Rule 17a-5(d)(4), in which (1) Westminster lnvestment Group, lnc. (the Company) identified the following provisions of 17 C.F.R.515c3-3(k) under which Westminster lnvestment Group, lnc. claimed an exemption under 17C.F.R \$240.15c3-3: (1) (the "exemption provision")and (2) Westminster lnvestment Group, lnc. stated that Westminster lnvestment Group, lnc. met the identified exemption provisions throughout the most recent fiscal year without exception. Westminster lnvestment Group, lnc.'s management is responsible for compliance with the exemption provisions 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 Westminster lnvestment Group, lnc.'s compliance with the exemption provisions. A review is substanfially 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. w d& Landenberg, Pennsylvania April28,2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.