# GENEVA STOCK, L.L.C. X-17A-5 (2026-04-14) — Broker-dealer annual report - Company: GENEVA STOCK, L.L.C. - Form: X-17A-5 - Filed: 2026-04-14 - Period: 2025-12-31 - Accession: 0001124834-26-000002 - CIK: 1124834 - File #: 8-52903 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Huntingdon Valley, PA - Contact: ELIZABETH C PROESEL - Phone: 7736773268 - Email: jackie@jackiesloanlnc.com - Website: jackiesloanlnc.com - Signed by: Gary Silverman (TP) Original filing: https://www.sec.gov/Archives/edgar/data/1124834/000112483426000002/genevapublicaudit1.pdf --- {0}------------------------------------------------ # Geneva Stock, LLC Financial Statements December 31, 2025 {1}------------------------------------------------ | ANNUAL AUDITED FOCUS REPORT FACING PAGE 1-2 | | |----------------------------------------------|--| | | | | Statement of Financial Condition 4 | | |--------------------------------------------|--| | Statement of Operations 5 | | | Statement of Changes in Member's Equity 6 | | | Statement of Cash Flows 7 | | | Notes to Financial Statements 8-11 | | | Report of Independent Registered Public Accounting Firm Exemption Report Review 12 | |-------------------------------------------------------------------------------------| | Exemption Report. 13 | {2}------------------------------------------------ | UNITED STATES
SECURmES AND EXCHANGE COMMISSION | | | OIWI Number. 3235-0123
Expires: Nov. 30, 2026 | | | | | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|-----|--------------------------------------------------|-----------------------------------------------------|--|--|--| | Washington, D.C. 20549 | | | | Estimated .--age bi.rden
hoors per response: l 2 | | | | | ANNUAL REPORTS | | | | SECFIL£ NUMBER | | | | | FORM X-17A-5 | | | | 8-52903 | | | | | | PART Ill | | | | | | | | | FACING PAGE
Information Required Pursuant to Rules 17a-S, i7a-12, and lBa-7 under the Secur;tles Exchange Act of 1934 | | | | | | | | FILING FOR THE PERIOD BEGINNING 01 /Q 1 /2025 | | | | AND ENDIN.G 12/31/2025 | | | | | | MM/DD/YY | | | MM/DD/YY | | | | | | A. REGISTRANT IDENTIRCATION | | | | | | | | NAME oF FIRM: Geneva Stock, LLC | | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
lil Broker-dlealer
D Check here if respondent is also an OTC derivatives dealer
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P .0. box no.) | □ Security-based swap dealer | | | 0 Major security-based swap participant | | | | | 4973 Boulders Drive | | | | | | | | | | (No. and Street) | | | | | | | | Gurnee | IL | | | 60031 | | | | | (City) | (State) | | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | Jacqueline Sloan | 312-431-0014 | | Jackie@JackieSloanlnc.com | | | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing• | | | | | | | | | Sanville & Company LLC | | | | | | | | | | (Name-if individual, state last, first, and middle name) | | | | | | | | 2617 Huntingdon Pike | Huntingdon Valley PA | | | 19006 | | | | | (Address) | (City) | | {State) | (Zip Code) | | | | | 09/18/2003 | | 169 | | | | | | | (Date of R istration with PCAOB if a | lica ble
Al USE ONLY
FOR OFFl | | | PCAOB R ·stration Number, if ap icable | | | | • Claims for exemption from the requirement that the annual reparts be covered by the 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 O:R 240.17a-S(e)(1)(ii), if applicable. Penons who ere to respond tothecollectlon of lnfonnatlon contained In this form ere not required to respor,d unless the form displays • currently vaUd 0MB control number. {3}------------------------------------------------ #### OATH OR AFFIRMATION | I, Gary Silvennan | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Geneva Stock, LLC | as of | | 2~
December 31 | is true and correct. I further swear (or affirm) that neither the company nor any | | as that of a customer. | partner, officer, director, or equivalent person, as the case may be, has any proprietary Interest in any account classified solely
Signature: | TP **This filing•• contains (check all appllcable boxes):** - ii'i (a) Statement of financial condition. - ii'i (b) Notes to consolidated statement of financial condition. - D (c) Statement of income (loss) or, if there is other comprehens.lve income in the **period(s)** presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation **S-X).** - D (d) Statement of cash flows. - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (t) Statement of changes in liabilities subordinated to daims of creditors. - 0 (g) Notes to consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - 0 (i) computation of tangible net worth under 17 CFR 240.lSa-2. - 0 0) computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - 0 (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. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - 0 (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (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.lSa-4, as applicable. - D (o) Reconciliations, lnduding appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worttl 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** applic.ible, if material differences exist. or .- statement th.-t no material differences exist. - 0 **(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-U, or 17 CFR 240.18a-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.Ua-5 or 17 CFR 240.lBa-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable. - ii (t) Independent public accountant's report based on an examination of the statement of financial condition. - D (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - 0 (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-S or 17 CFR 240.lSa-7, .IS applicable. - 0 (w) lndeJJendent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-S or 17 CFR 240.183-7, as applicable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.1Sc3-1e or 17 CfR 240.17a-12, as applicable. - 0 (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or .i statement that no material inadequacies exist, under 17 CFR 240.17a-12{k). D (z)other: \_\_\_\_\_\_\_\_\_\_\_ \_ \_ \_\_\_\_\_\_\_\_\_ \_\_\_\_\_\_\_\_\_\_\_ \_ - .. To request confidential treatment of certain portions of this filing, see 17 CFR 240 . .17a-5(e}(3} or 17 CFR 240.1Ba-7{d}(2}, as applicable. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member and Those Charged With Governance of Geneva Stock, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Geneva Stock, LLC (the ''Company") as of December 31, 2025, and the related notes ( collectively referred to as the financial statement). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of the Company as of December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting fitm 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 PC'.AOB. We conducted our audit in accordance with the standards of the PC'.AOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. *Sa11v1Ue* &: *Con1pa11fj* We have served as the Company's auditor since 2025. Huntingdon Valley, Pennsylvania April 9, 2026 {5}------------------------------------------------ **Geneva Stock, LLC Statement of Financial Condition December 31, 2025** #### **Assets** | Cash and cash equivalents
Accounts receivable
Clearing account
Long securities, at market value | \$
85,462
1,306
1,575,980
25,239,305 | |----------------------------------------------------------------------------------------------------------|--------------------------------------------------| | Total assets | \$
26,902,053 | | Liabilities and Member's Equity | | | Liabilities | | | Accounts payable and accrued expenses | \$
42,521 | | Short securities, at market value | 22,124,661 | | Total liabilities | 22,167,182 | | Member's equity | 4,734,871 | | Total liabilities and member's equity | \$
26,902,053 | The accompanying notes are an integral part of this financial statement {6}------------------------------------------------ ### **1. Organization** Geneva Stock, LLC (the "Company") is a limited liability company under the laws of the State of Illinois. The Company is majority owned by Geneva Derivatives Trading Corporation. The Company is a registered broker dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company is an options market making firm. # 2. **Summary of Significant Accounting Policies** *The following are the significant accounting policies followed by the Company in the preparation of its financial statements. The policies are in con/ ormity with accounting principles generally accepted in the United States of America ("GAAP'J.* *Use of estimates-* The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates and assumptions. *Revenue Recognition* - Revenue is measured based on a consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfied a performance obligation by transferring control over a product or service to a customer. Taxes and regulatory fees assessed by a government authority or agency that are both imposed on and concurrent with a specified revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. *Trading Gains and Losses* - Under ASC 606, trading fees are recorded on a trade-date basis as securities transactions occur and are reflected separately in the statement of operations. *Income taxes* - Income taxes, if any, are the liability of the individual members. Accordingly, income or losses pass through to the Company members, and no provision for federal income taxes has been reflected in the accompanying financial statements. State income taxes have been provided at the reduced rate applicable to limited liability companies. The Company recognizes and discloses uncertain tax positions in accordance with accounting principles generally accepted in the United States of America (GAAP). As of, and during the year ending December 31, 2025, the Company did not have liability for unrecognized tax benefits. The Company is no longer subject to examination by federal and state taxing authorities prior to 2022. {7}------------------------------------------------ # **2. Summary of Significant Accounting Policies (continued)** *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 participants 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 market. Valuation techniques that are consistent with the market, income or cost approach, as specified by F ASB ASC 820, are used to measure fair value. The Company uses the fair value measurements standard to determine the value of its securities. Various inputs used under this method are summarized in the three broad levels listed below: Level 1 - quoted prices (unadjusted) in active markets for identical securities Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment terms, credit risk, etc.) Level 3 - significant unobservable inputs (including the Company's own assumptions in determining the fair value of investments) 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 exercised in determining fair value is greatest for instruments categorized in level 3. 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. *Concentration of credit risks* - The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Management believes the Company is not exposed to any significant credit risk related to cash. *Accounts Receivable* - Management evaluates the collectability of accounts receivable on an ongoing basis and records an allowance in the event the collection is considered remote. {8}------------------------------------------------ # **2. Summary of Significant Accounting Policies (continued)** *Securities owned and securities sold* short-Transactions in securities and derivative financial instruments are recorded on a trade-date basis. These financial instruments are carried at fair value with the resulting gains and losses and change in unrealized gains and losses reflected in trading revenues, net in the statement of operations. *Segment Reporting* - The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (F ASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2023. The Company has identified its Manager as the Chief Operating Decision Maker as specified in the ASU 2023-07. Company management reviewed the ASU 2023-07 disclosure requirements and determined that no additional disclosures are required as the Company has only one reportable segment. # 3. **Security Valuation** The following table summarizes the valuation of the Company's investments by the above fair value hierarchy levels as of December 31, 2025: | Securities Owned: | Level 1 | | Level 2 | | Level 3 | | |-------------------|---------|--------------|---------|--|---------|--| | Options Long | \$ | 20,217,611 | \$ | | \$ | | | Options Short | \$ | (20,094,038) | \$ | | \$ | | | Stocks Long | \$ | 5,021,694 | \$ | | \$ | | | Stocks Short | \$ | (2,030,623) | \$ | | \$ | | #### 4. **Commitments and Contingencies** The Company is not involved in any litigation or arbitration proceedings, and there are no material commitments or contingencies related to any legal claims. Management has assessed the potential for any litigation or arbitration matters and has determined that no provision for such contingencies is required in the financial statements {9}------------------------------------------------ **Geneva Stock, LLC Notes to Financial Statement (Continued) December 31, 2025** # **4. Off-Balance Sheet Risk** In connection with its proprietary market-making and trading achv1t1es, the Company enters into transactions in a variety of securities and derivative financial instruments, including futures and options with similar characteristics. Futures contracts provide for the sale or purchase of financial instruments at a specified future date at a specified price or yield. These financial instruments may have market risk and/or credit risk in excess of those amounts recorded in the statement of financial condition. Derivative financial instruments involve varying degrees of off-balance-sheet market risk whereby changes in the market values of the underlying financial instruments may result in changes in the value of the financial instruments in excess of the amounts reflected in the statement of financial condition. Exposure to market risk is influenced by a number of factors, including the relationships between financial instruments and the Company's proprietary inventories, and the volatility and liquidity in the markets in which the financial instruments are traded. In many cases, the use of such financial instruments serves to modify or offset market risk associated with other transactions and, accordingly, serves to decrease the Company's overall exposure to market risk. The Company attempts to manage its exposure to market risk arising from the use of these financial instruments through various monitoring techniques. Securities sold, not yet purchased (short sales) represent obligations of the Company to make a future delivery of a specific security at a specified price and, correspondingly, create an obligation to purchase the security at the prevailing market price (or deliver the security if owned by the Company) at the later delivery date. As a result, short sales create the risk that the Company's ultimate obligation to satisfy the delivery requirements may exceed the amount of the proceeds initially received. # 6. Net **Capital Requirements** The Company is a member of FINRA and, due to its B 1 exemption, is not subject to the SEC Uniform Net Capital Rule 15c3-1. # 7. **Subsequent Events** Management has evaluated the impact of all subsequent events through the date the financial statements were issued and has determined that there were no subsequent events requiring disclosure in these financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.