Full text of P.A.N. SECURITIES, LP's X-17A-5 filed 2026-03-27 (period 2025-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ Statement of Financial Condition December 31, 2025 {1}------------------------------------------------ #### **81,7('67\$7(6 6(&85,7,(6\$1'(;&+\$1\*(&200,66,21 :DVKLQJWRQ'&** # **\$118\$/ 5(32576 )250;\$ 3\$57,,,** | OMB APPROVAL | | |--------------------------|--| | OMB Number: 3235Ͳ0123 | | | Expires: EŽǀ. 3Ϭ, 202ϲ | | | Estimated average burden | | | hours per response: | | | | | SEC FILE NUMER 8Ͳ52964 **)\amp;,1\*3\$\*( ,QIRUPDWLRQ5HTXLUHG3XUVXDQWWR5XOHVDDDQGDXQGHUWKH6HFXULWLHV([FKDQJH\$FWRI** ),/,1\*)257+(3(5,2'%(\*,11,1\* \$1'(1',1\* 01/01/25 12/31/25 00''<< 00''<< ## **͘ 5(\*,675\$17,'(17,),&\$7,21** #### 1\$0(2)),50 P.A.N. Securities, LP 7<3(2)5(\*,675\$17FKHFNDOODSSOLFDEOHER[HV ܆ %URNHUGHDOHU տ6HFXULW\EDVHGVZDSGHDOHU տ0DMRUVHFXULW\EDVHGVZDSSDUWLFLSDQW տ&KHFNKHUHLIUHVSRQGHQWLVDOVRDQ27&GHULYDWLYHVGHDOHU X \#39;'5(662)35,1&,3\$/3/\amp;(2)%86,1(66'RQRWXVHD32ER[QR | c/o<br>FactSet | Research<br>Systems<br>Inc., | 45<br>Glover | Avenue | | | | | | |-----------------------------------------|-----------------------------------------------------------------------------------------|-------------------------------|---------|--|--|--|--|--| | | 1RDQG6WUHHW | | | | | | | | | Norwalk | CT | | 06850 | | | | | | | &LW\ | 6WDWH | | =LS&RGH | | | | | | | 3(562172&217\amp;7:,7+5(*\$5'727+,6),/,1* | | | | | | | | | | Howard<br>Spindel | (561)<br>420-0842 | hspindel@integrated.solutions | | | | | | | | 1DPH | \$UHD&RGH±7HOHSKRQH1XPEHU | (PDLO\$GGUHVV | | | | | | | | | \amp;&2817\$17,'(17,),&\$7,21<br>͘ | | | | | | | | | | ,1'(3(1'(1738%/,&\amp;&2817\$17ZKRVHUHSRUWVDUHFRQWDLQHGLQWKLVILOLQJ<br>EisnerAmper<br>LLP | | | | | | | | | | 1DPH±LILQGLYLGXDOVWDWHODVWILUVWDQGPLGGOHQDPH | | | | | | | | | 733<br>Third<br>Avenue | New<br>York | NY | 10017 | | | | | | | \$GGUHVV | &LW\ | 6WDWH | =LS&RGH | | | | | | 09/29/2003 274 'DWHRI5HJLVWUDWLRQZLWK3&\$2% LIDSSOLFDEOH 3&\$2%5HJLVWUDWLRQ1XPEHULIDSSOLFDEOH #### **)252)),&,\$/86(21/<** &ODLPVIRUH[HPSWLRQIURPWKHUHTXLUHPHQWWKDWWKHDQQXDOUHSRUWVEHFRYHUHGE\WKHUHSRUWVRIDQLQGHSHQGHQWSXEOLF DFFRXQWDQWPXVWEHVXSSRUWHGE\DVWDWHPHQWRIIDFWVDQGFLUFXPVWDQFHVUHOLHGRQDVWKHEDVLVRIWKHH[HPSWLRQ6HH&)5 DH LL LIDSSOLFDEOH **3HUVRQVZKRDUHWRUHVSRQGWRWKHFROOHFWLRQRILQIRUPDWLRQFRQWDLQHGLQWKLVIRUPDUHQRWUHTXLUHGWRUHVSRQGXQOHVVWKHIRUP GLVSOD\VDFXUUHQWO\YDOLG20%FRQWUROQXPEHU** {2}------------------------------------------------ ## AFFlRMATIO I, Howard Spindel ear (or affirm) that to the b t of my Imo ledge and belief, the fina…Read the full text as markdown