# PARTNERSHIP CAPITAL GROWTH, LLC X-17A-5 (2026-03-06) — Broker-dealer annual report
- Company: PARTNERSHIP CAPITAL GROWTH, LLC
- Form: X-17A-5
- Filed: 2026-03-06
- Period: 2025-12-31
- Accession: 0001358919-26-000004
- CIK: 1358919
- File #: 8-67314
- Type: Broker-dealer
- Material weakness: No
- Auditor: DylanFloyd Accounting & Consulting
- Auditor location: Newhall, CA
- Contact: Melanie Meder Pepper
- Phone: 4088070359
- Email: brent@pcg-investors.com
- Website: pcg-investors.com
- Signed by: Melanie Meder Pepper (Accounting Manager)
Original filing: https://www.sec.gov/Archives/edgar/data/1358919/000135891926000004/2025_PCG_Annual_Rept_PUBLIC.pdf
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STATEMENT OF FINANCIAL CONDITION PARTNERSHIP CAPITAL GROWTH, LLC
DECEMBER 31, 2025
CONFIDENTIAL
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| | SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
UNITED STATES | Estimated average burden
OMB Number: 3235-0123
hours per response: 12
OMB APPROVAL
Expires: Nov. 30, 2026 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|
| | ANNUAL REPORTS
FORM X-17A-5
PART III | SEC FILE NUMBER
8-67314 |
| filing for the period beginning 01/01/25 | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934
AND ENDING
FACING PAGE
MM/DD/YY | MM/DD/YY
12/31/25 |
| NAME OF FIRM: | A. REGISTRANT IDENTIFICATION
LLC
Partnership Capital Growth. | |
| Check here if respondent is also an OTC derivatives dealer
TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer | | Major security-based swap participant |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)
10 Jackson Street, Suite | 201 | |
| Gatos
OS | CA
(No. and Street) | 95030 |
| (City) | (State) | (Zip Code) |
| PERSON TO CONTACT WITH REGARD TO THIS FILING
Knudsen
Brent R. | 415-407-2700 | brent@pcg-investors.com |
| B.
(Name) | ACCOUNTANT IDENTIFICATION
- Telephone Number)
Area Code | (Email Address) |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | |
| Dvlan | Floyd Accounting & Consulting (DFA&C) | |
| Ln
20909 Judah | (Name - if individual, state last, first, and middle name)
Santa Clarita | 91321
CA |
| 03/01/2016
Address) | (City) | (Zip Code)
(State)
6235 |
| (Date of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | (PCAOB Registration Number, if applicable) |
| Persons who are to respond to the collection of information contained in this form are not required to respond unless the form
Claims for exemption from the requirement that the annual reports of an independent public
CFR 240.17a-5(e)(1)(ii), if applicable. | accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17
displays a currently valid OMB control number. | |
CONFIDENTIAL
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| OATH OR AFFIRMATION
ు. | |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| financial report pertaining to the firm of Partnership Capital Growth,LLC December 31
l, Brent R. Knudsen | _ 2 025___ is true and correct. I further swear (or affirm) that neither the company nor any
, swear (or affirm) that, to the best of my knowledge and belief, the |
| partner, officer, director, or equivalent person, as the case may be, has any proprietages in any account classified solely
as that of a customer. | |
| . 16 % - 3. 8. 9. 9. 9. 9.
.
ಸಾಗಿ ಸುದ್ದಿಯ ಪ್ರಮವನ್ನು ಸಾ
ਸੀ ਅਤੇ ਮੁਨਾਵਲ ਸਿੰਘ ਸ | Signature |
| Title:
. 이러한 이유 | President |
| This filing** contains (check all applicable boxes): ماني الماني الماني الماني الماني الماني الماني الماني الماني الماني الماني الماني
- - Thengger Vir Chambooks - Croub | ಾಗಿದೆ. ಇದರ ಮಾಡಿ ಮಾಡಿ ಮಾಡಿ ಮಾಡಿ ಮತ್ತು ಸಂಪರ್ಕಗಳು ಒಂದು ಮಾಡಿದ |
| (b) Notes to consolidated statement of financial condition. 2011 11:40 PM (11) 11:11)
(a) Statement of financial condition. | ය හා විදුහලය විදුකුක පිහිටු දෙකු ලැබේම ප්රධාන අධිපති ක |
| (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 Regulation S-X). | |
| (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
(d) Statement of cash flows. | .
2017. 12:42:13:00 |
| (f) Statement of changes in liabilities subordinated to claims of creditors.
(g) Notes to consolidated financial statements. | 1 8 - 1998 - 1998 - 1979
100 - 100 100 100 000 - 100 1000 1 |
| (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. | 1467 19418 19848 |
| (i) 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. | ിന് |
| (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR
(m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. الجنيري الاراق
1
1
: | |
| (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net
240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
ﺍﻟﻤﺴﺎ | |
| 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 exist, or a statement that no material differences
్రామం | |
| exist.
: : | |
| (q) Oath or affirmation in accordance with 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable: with 17 c
(p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
ﻟﺴﻴﺎ
: | |
| (r) Compliance report in accordance with 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. | ,一起"的球迷的"的。
் விளையாட்டு இருக்கும் பல்க |
| (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 | |
| (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17-12,
CFR 240.18a-7, as applicable.
ﻟﻤﺴﺎﻋﺪ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮ | |
| (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or
as applicable. | |
| a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
(z) Other:
T | |
| ** To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as
applicable. | |
్యాలు కొన్ని చెప్పిన ప్రాథమిక
CONFIDENTIAL
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| 1999 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 1 | A notary public or other officer completing this certificate verifies only the individual who signed
the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. |
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| 1. 3. 2. 14. g | |
| County of Of A
State of California
C | |
| :
ි හා පිහිට | Alo, by
Subscribed and sworn to (or affirmed) before me on
Year
20,
EBRUAR)
Month
day of
27TH
Date
this |
| :25 일
- 183
. The production of the contribution of the comments of the comments of the comments of the contribution of the contribution of the contribution of the contribution of the co
: : | (1) |
| Notary Public - California
THERESA E. BRAND | Name(s) of Signer(s)
(2)
(and |
| Comm. Expires Jan 30, 2027
Commission # 2433193
County
Santa Clara | proved to me on the basis of satisfactory evidence to
be the person(s) who appeared before me. |
| Place Notary Seal and/or Stamp Above | Signature of Notary Public
Signature |
| | OPTIONAL |
| | Completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document. |
| ANNIS
Description of Attached Document
Title or Type of Document: | X-174-5
ADWTH
FORM
APITAL
EFD
ACIFIC |
| Document Date: | 0
Number of Pages: |
| Signer(s) Other Than Named Above: | IVONE |
CONFIDENTIAL
©2019 National Notary Association
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|-------------------------------------------------------|---------------------------------------------------------------------------------------|----------------------------------------------------|---------------------------------------|
| Statement of Financial Condition
December 31, 2025 | Liabilities and Member's Equity
Prepaid expenses
Total Assets
Assets
Cash | Accrued expenses
Member's Equity
Liabilities | Total Liabilities and Member's Equity |
CONFIDENTIAL
PARTNERSHIP CAPITAL GROWTH, LLC
See Accompanying Notes to Financial Statements
{6}------------------------------------------------
# Business and Summary of Significant Accounting Policies 1.
#### Business
transaction and consulting fees generated through private placement transactions executed in Exchange Commission as a securities broker-dealer and is a member of the Financial Industry Regulatory Authority, Inc. The Company's primary source of revenue is from Partnership Capital Growth, LLC (the "Company") is a Delaware Limited Liability Company formed on February 24, 2006. The Company is registered with the Securities and the Healthy, Active, and Sustainable Living marketplace. The Company has one managing member. As a limited liability company, the members liability is limited to amounts reflected in the members' capital account.
#### Cash
federally-insured limits. The Company has not experienced any losses in such accounts and The Company maintains its cash in bank deposit accounts, which at times may exceed believes it is not exposed to any significant credit risk on cash.
## Revenue Recognition
In accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), as amended, revenue from contracts with customers is recognized when, or as, the Company satisfies performance obligations by transferring the promised goods or services to the customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of Company considers the range of possible outcomes, the predictive value of past of consideration that is susceptible to factors outside of the Company's influence, such as satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring progress in satisfying the performance obligation in the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue In determining when to include variable consideration in the transaction price, the experiences, the time period of when uncertainties expect to be resolved and the amount a manner that depicts the transfer of the goods or services to the customer. Revenue from performance obligation satisfied at a point in time is recognized when it is determined recognized will not occur when the uncertainties with respect to the amount are resolved. market volatility or the judgment and actions of third parties.
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# Business and Summary of Significant Accounting Policies (continued) 1.
## Private Placement Fees
on closing price. The timing of revenue recognition may differ from the timing of customer payments. The Company records a receivable when revenue is recognized prior to payment, and it has an unconditional right to payment. Fees received prior to the completion of the performance obligation are recorded as deferred revenue on the Private placement services are performed pursuant to engagement letters that specify the a single performance obligation upon completion of the transaction process. Private services to be provided and fees and reimbursements to be paid. These contracts result in placement fees are contingent on the completion of the contracts and are calculated based statement of financial condition until such time when the performance obligation is met. Significant judgments - The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time and when to recognize revenue based on the appropriate measure of the Company's progress under the contract.
## Commission expense
The Company has compensation agreements with its registered representatives whereby they received a certain portion of private transaction and consulting fees earned by the Company.
#### Income Taxes
The Company is treated as a single member limited liability company for all relevant jurisdictions and its taxable income and taxes paid, if any, are included with the income tax return of the member. Management has concluded that the Company is not subject to income taxes for the open tax years (current and prior three tax years as applicable) in any jurisdiction and that there are no uncertain tax positions that would require recognition in the statements. Such open tax years remain subject to examination by tax authorities. If the Company were to incur an income tax liability in the future, interest on any income tax would be reported as income taxes. Management's conclusions regarding uncertain tax ongoing financial statements. Accordingly, no provision for income taxes is reflected in the financial liability would be reported as interest expense and penalties on any income tax liability positions may be subject to review and adjustment at a later date based upon analyses of tax laws, regulations and interpretations thereof as well as other factors.
{8}------------------------------------------------
# Business and Summary of Significant Accounting Policies (continued) 1.
## Accounts Receivable
The Company's accounts receivable, which primarily consist of balances due from customers for The credit risk associated with receivables is that any customers with which it conducts business is unable to fulfill contractual obligations. The allowance for credit losses is based on the current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for credit losses. The Company's expectation is that the credit risk associated with receivables is not significant until it is past due based on the records an estimated allowance for credit loss for any balances that are deemed to be current conditions, reasonable assurance, and supportable forecasts to determine expected credit The Company considers factors such as historical experience, credit quality, age of balances and arrangement and expectation of collection in accordance with industry standards. The Company transaction and consulting fees, are carried at amortized cost less the allowance for credit losses. Company's expectation of the collectability of such receivables utilizing the CECL framework. uncollectible. Management monitors the credit risk of customers, including historical experience, loss. There was no allowance for credit losses as of December 31, 2025.
## Single Reporting Segment
investment advisory and private equity businesses. The Company has identified its constitute a single operating segment and therefore, a single reporting segment, because the The Company is engaged in a single line of business as a securities broker-dealer, which is 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. Additionally, the CODM uses excess net capital (see Note 2), which is not a adequacy, such as whether to reinvest profits or pay dividends. The Company's operations 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 comprised of several classes of services, including agency transactions, investment banking, measure of profit and loss, to make operational decisions while maintaining capital described in the summary of significant accounting policies.
### Use of Estimates
The process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues and expenses. Such estimates primarily relate to unsettled transactions and events as of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts.
{9}------------------------------------------------
### Net Capital Requirements ベ
was \$95,701 in excess of its required net capital of \$5,000. The Company's aggregate requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2025, the Company had net capital of \$100,701, which Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and The Company is subject to the Securities and Exchange Commission Uniform Net Capital indebtedness to net capital ratio was 0.35 to 1.
#### Leases 3.
The Company operates out of office premises of an affiliate. The Company is not a party to any leases nor is the Company obligated to pay any rent to the affiliate or any other party. As a result, there is no lease activity reported in the accompanying financial statements.
#### Indemnification 4.
the maximum exposure is unknown but for which management expects the risk of loss, if The Company enters into contracts that contain a variety of indemnifications for which any, to be remote. The Company has no current claims or losses pursuant such contracts.
#### Subsequent Events 5.
outside the normal course of operations, which would require additional disclosure or During the period from January 1, 2026 to February 23, 2026, no events have occurred adjustment.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.