Full text of KBD SECURITIES, LLC's X-17A-5 filed 2026-03-02 (period 2025-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ # **KBD SECURITIES, LLC (S.E.C. NO. 8-52591)** # **Statement of Financial Condition December 31, 2025 and Independent Auditor's Report** This report is filed as a PUBLIC document in accordance with rule 17a-5(e)(3) under the Securities Exchange Act of 1934. {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17A-5 PART Ill** 0MB APPROVAL 0MB Number: 3235--0U3 Expires: Nov. 30, 2026 Estimated average burden hours per response: <sup>12</sup> 8-52591 SEC FILE NUMBER **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of <sup>1934</sup>** | | AND ENDING 12/31/25<br>FILING FOR THE PERIOD BEGINNING 01/01/25 | | | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|------|-------------------------------------------|--|--| | ----------<br>MM/DD/YY | | | -----------<br>MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: KBD Securities LLC | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):<br>0 Major security-based swap participant<br>O Security-based swap dealer<br>[!] Broker-dealer<br>0 Check here if respondent is also an OTC derivatives dealer | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | 470 Park Avenue South, 3rd Floor | | | | | | | | (No. and Street) | | | | | | New York | NY | | 10016 | | | | {City) | {State) | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Jonathan Kohen | 646-291-2297 | | jkohen@horizonkinetics.com | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | 8. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>Alperin, Nebbia & Associates, CPA, PA | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | 375 Passaic Avenue | Fairfield | NJ | 07004 | | | | (Address) | (City) | | (Zip Code)<br>(State) | | | | 02/24/2009 | | 3397 | | | | | rte<br>of Registration w•h PCAOB)lif appli<able) | | | (PCAOB Re~st,ation N"m,.,,, 0 applkable)I | | | | * Claims for exemption from the requir…Read the full text as markdown