# HAMILTON LANE SECURITIES LLC X-17A-5 (2026-05-22) — Broker-dealer annual report - Company: HAMILTON LANE SECURITIES LLC - Form: X-17A-5 - Filed: 2026-05-22 - Period: 2026-03-31 - Accession: 0001652821-26-000001 - CIK: 1652821 - File #: 8-69675 - Type: Broker-dealer - Material weakness: No - Auditor: WithumSmith&Brown, PC - Auditor location: Princeton, NJ - Contact: Monique Romero - Phone: 212-668-8700 - Email: mromero@acisecure.com - Website: acisecure.com - Signed by: Robert Shin (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1652821/000165282126000001/hamiltonlaneaudit.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III | SEC FILE NUMBER | | |-----------------|--| | 8-69675 | | FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 04/01/25 03/31/26 FILING FOR THE PERIOD BEGINNING AND ENDING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION Hamilton Lane Securities, LLC NAME OF FIRM: TYPE OF REGISTRANT (check all applicable boxes): O Broker-dealer | Security-based swap dealer | | Major security-based swap participant □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 110 Washington Street, Suite 1300 (No. and Street) Conshohocken PA 19428 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING (212) 668 8700 Monique Romero mromero@acisecure.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* WithumSmith + Brown, PC (Name - if individual, state last, first, and middle name) 506 Carnegie Ctr., Ste 400 08540 Princeton NJ (Address) (City) (State) (Zip Code) 10/08/2003 100 (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 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 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 | Robert Shin | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Hamilton Lane Securities, LLC | as of | | March 31 | 2 026 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:
Robert Shin | Digitally signed by Robert Shin
Date: 2026.05.19 14:18:52 -04'00' | |---------------------------|----------------------------------------------------------------------| | Title: | | | CCO | | #### This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - [ (b) Notes to consolidated statement of financial 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 Regulation S-X). - (d) Statement of cash flows. - (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial 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. - (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 requirement 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. - [] {o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible 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 exist, 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. - [1] 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 have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - J (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable. {2}------------------------------------------------ # \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Financial Statements and Report of Independent Registered Public Accounting Firm For the year ended March 31, 2026 CONFIDENTIAL {3}------------------------------------------------ | | Page | |----------------------------------------------------------------------------------------------------------------------------------------------|-------| | Contents
For the year ended March 31, 2026 | | | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statements | | | Statement of Financial Condition | 2 | | Statement of Operations | 3 | | Statement of Changes in Member's Equity | 4 | | Statement of Cash Flows | 5 | | Notes to Financial Statements | 6 - 8 | | Supplemental Information | | | Schedule I - Computation of Net Capital Under Rule 15c3-1
of the Securities and Exchange Commission | 9 | | Schedule II - Computation for Determination of Reserve Requirements Under Rule 15c3-3
of the Securities and Exchange Commission | 10 | | Schedule III - Information Relating to the Possession or Control Requirements Under Rule 15c3-3
of the Securities and Exchange Commission | 10 | | Report of Independent Registered Public Accounting Firm Regarding Rule 15c3-3 Exemption Report | 11 | | Rule 15c3-3 Exemption Report | 12 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Managing Member of Hamilton Lane Securities LLC: ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition Lane Securities LLC (the "Company") as of March 31, 2026, the related statements of operations, changes in member's equity and cash flows, for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material position of the Company as of March 31, 2026, and the results of its operations and its cash flows for the year ended March 31, 2026, in conformity with accounting principles generally accepted in the United States of America. ## Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these 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 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 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 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 Information The supplemental information, contained in schedules I, II and III, has been subjected to audit procedures performed in conjunction with the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In 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. § 240.17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2017. Withern Smitht New York, New York May 21, 2026 WithumSmith+Brown, PC 1411 Broadway, 9th Floor, New York 10018-3496 T (212) 751 9100 F (212) 750 3262 withum.com {5}------------------------------------------------ # Hamilton Lane Securities LLC # Statement of Financial Condition March 31, 2026 #### Assets | Assets: | | | |---------------------------------------|----|---------| | Cash | S | 562,521 | | Receivable from affiliate | | 62,409 | | Prepaid expenses | | 83,415 | | Total Assets | ಳ | 708,345 | | Liabilities and Member's Equity | | | | Liabilities: | | | | Accounts payable and accrued expenses | S | 21,506 | | Member's Equity | | 686,839 | | Total Liabilities and Member's Equity | ಕಿ | 708,345 | {6}------------------------------------------------ #### Hamilton Lane Securities LLC ## Statement of Operations For the year ended March 31, 2026 | Revenue: | સ્ત્ર | |----------------------------------------|---------------| | Private placement fees | 9,344,814 | | | | | Operating Expenses: | | | Salaries and compensation expenses | 8,677,823 | | Administrative fees | 22,000 | | Professional fees | 123,777 | | Regulatory fees | 129,322 | | Dues, subscriptions and other expenses | 14,866 | | Total Operating Expenses | 9,167,788 | | Net Income | ನಾ
177,026 | {7}------------------------------------------------ Hamilton Lane Securities LLC #### Statement of Changes in Member's Equity For the year ended March 31, 2026 | Balance, April 1, 2025 | કે | 509,813 | |-------------------------|----|---------| | Net Income | | 177,026 | | Balance, March 31, 2026 | ಳ | 686,839 | {8}------------------------------------------------ # Hamilton Lane Securities LLC Statement of Cash Flows # For the year ended March 31, 2026 | Cash Flows from Operating Activities: | | | |-----------------------------------------------------------------------------------|-------|----------| | Net income | S | 177,026 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | Changes in operating assets and liabilities: | | | | Decrease in receivable from affiliate | | 119,942 | | Increase in prepaid expenses | | (15,407) | | Increase in accounts payable and accrued expenses | | 10,812 | | Net Cash Provided by Operating Activities | | 292,373 | | Net Increase in Cash | | 292,373 | | Cash - Beginning of the year | | 270,148 | | Cash - End of the year | ਦਿੱਤੇ | 562,521 | {9}------------------------------------------------ #### Hamilton Lane Securities LLC Notes to Financial Statements For the year ended March 31, 2026 #### 1. Organization and Nature of Business Hamilton Lane Securities LLC (the "Company") is incorporated in the state of Delaware and is located in Conshohocken, Pennsylvania. The Company is registered with the Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority. The Company is wholly owned by Hamilton Lane Advisors, L.L.C. ("HLA") and exclusively provides private placements of securities to its affiliated entities. The Company received approval from the regulatory authorities in March 2016. #### 2. Summary of Significant Accounting Policies #### a) Basis of Presentation The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). #### b) Cash and Cash Equivalents and Concentrations of Credit Risk The Company considers money market funds and all investments purchased with an original maturity of three months or less to be cash equivalents. There are no cash equivalents as of March 31, 2026. The Company has significant cash balances at one financial institution which throughout the year regularly exceeded the federally insured limit of \$250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations, and cash flows. #### c) Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers, which requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. The Company's performance obligation is to solicit prospective investors to the affiliated funds who are managed by various investment management entities, each of which is related through control. The investment management entities compensate the Company with private placement fees for the successful solicitation of investors at a rate equal to 105% of related costs incurred. The Company recognizes placement fees over time when the associated expenses are incurred as the affiliated funds are receiving and consuming the benefits as they are proivded throughout the year. There was a receivable balance from an affiliate of \$182,350 and \$62,409 at April 1, 2025 and March 31, 2026, respectively. Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when it becomes a receivable or the cash is received. There are no contract assets as of April 1, 2025 and March 31, 2026. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are derecognized when the revenue associated with the contract is recognized when the performance obligation is satisfied. There are no contract liabilities as of April 1, 2025 and March 31, 2026. #### d) Income Taxes The Company is a limited liability company and is not a taxpaying entity for federal or state income tax purposes. Income of the Company is taxed to the member in its respective return. Therefore, no provision or liability for federal or state income taxes has been included in these financial statements. {10}------------------------------------------------ #### Hamilton Lane Securities LLC Notes to Financial Statements For the year ended March 31, 2026 #### 2. Summary of Significant Accounting Policies (Continued) #### d) Income Taxes (Continued) Management is responsible for evaluating the Company's uncertain tax positions in accordance with the Financial Accounting Standards Board ASC 740, Income Taxes. The Company has evaluated its tax positions taken for all open tax years and has not identified any uncertain tax positions which would require disclosure in these financial statements as of March 31, 2026. The Company commenced operations in 2016, and its tax returns for the years ended March 2023, March 2024 and March 2025 remain subject to examination by the taxing authorities. There was no interest or penalties recognized in the Statement of Operations for the year ended March 31, 2026. #### e) Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### f) Segment Reporting The Company follows ASC 280, Segment Reporting (including adoption of Accounting Standards Update 2023-07), which requires companies to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance. The Company conducts its business activities and reports financial results as a single reportable brokerage services segment. Using the management approach, and quantitative criteria established by ASC 280, the Company has determined it has a single reportable segment. The Chief Operating Decision Maker ("CODM") makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates its business and presents its financial results, using net income that is also reported on the Statement of Operations as net income. There are no reconciling items to the Statement of Operations. The measurement of segment assets is reported on the balance sheet as total assets. The CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the brokerage services segment or into other parts of the entity, such as to pay distributions to the parent. The Company's CODM is the Chief Executive Officer. The nature of business and accounting policies of the brokerage services segment are the same as described in the organization and nature of business and summary of significant accounting policies. #### 3. Related Party Transactions For the year ended March 31, 2026, the fees earned from HLA were \$9,344,814 as reported on the Statement of Operations as private placement fees. Under the agreement, all fees paid to HLA by the Company under the agreement and all amounts paid by HLA on behalf of the Company are subject to a 5% surcharge. For the year ended March 31, 2026, the fees paid to HLA for office space and overhead are included in administrative fees on the Statement of Operations and comprise the entire amount. The amount due from related parties for the year ended March 31, 2026 was \$62,409. HLA provides for certain expenses under the Expense Sharing Agreement (see Note 5). The Company also earns all private placement fees from HLA. Therefore, the Companying financial statements may not be representative of the conditions that would have existed or the results of operations if the Company had been operated as an unaffiliated entity. #### 4. Significant Customer 100% of gross revenues were derived from one customer, an affiliate. {11}------------------------------------------------ #### - - -- - - - #### !" -# \$# %&'()\*+(\*(),-./\*+(-0112(,(&\*323&'-011.)\*4&5-()647(-35)((,(&\*84\*+9:;<(=1(&-(-3)(134'/.)>?9:;.& >(+32/./\*+(@.,13&?3&'\*+(@.,13&?(3)&-3AB -0)7+3)5(CD+(-((=1(&-(-311(3).&\*+(E\*3\*(,(&\*./ F1()3\*4.&-3--323)4(-3&'7.,1(&-3\*4.&(=1(&-(-3&'3',4&4-\*)3\*46(/((-<4&720'4&5\*+(0-(././/47(-137(3&' (G041,(&\*<-(7)(\*3)4323&'5(&()32-()647(-<13?).2235(&\*1).7(--4&5<3&'3',4&4-\*)3\*46(7..)'4&3\*4.&CD+(-( (=1(&-(- \*.\*32(' HIS(7\*\*.\*+(E(70)4\*4(-3&'T=7+3&5(@.,,4--4.&%&4/.),U(\*@314\*32V02(WET@V02(NA7LXNY< #### -"- QR 8+47+)(G04)(-\*+(,34&\*(&3&7(./,4&4,0,&(\*7314\*323&')(G04)(-\*+3\*\*+()3\*4../355)(53\*(4&'(>\*('&(--\*.&(\* 7314\*32<>.\*+3-'(/4&('<-+322&.\*(=7(('NA\*.NC;\*M3)7+LN\*('&(--\*.&(\* 7314\*32 1()7(&\*35( 83- LCJIBC D+(@.,13&?+3-(63203\*('(6(&\*--0>-(G0(&\*\*.\*+(>323&7(-+((\*'3\*(/.)4\*(,-)(G04)4&5)(7.)'4&5.)'4-72.-0)( ## \ ]R ^ 4&\*+(/4&3&7432-\*3\*(,(&\*-CD+((63203\*4.&83-1()/.),('\*+).05+\*+('3\*(\*+(/4&3&7432-\*3\*(,(&\*-8()(363423>2(\*. >(4--0('C\_3-('01.&\*+4-)(64(8<\*+(@.,13&?+3-'(\*(),4&('\*+3\*\*+()(8()(&.(6(&\*-\*+3\*.770))(''0)4&5\*+4- 1()4.'\*+3\*8.02')(G04)('4-72.-0)(4&\*+4-)(1.)\*.)8.02'>()(G04)('\*.>()(7.5&4`('4&\*+(/4&3&7432-\*3\*(,(&\*- 3- ./ M3)7+ LN< KOKPC {12}------------------------------------------------ ## Hamilton Lane Securities LLC Supplemental Information March 31, 2026 #### Schedule I - Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission | Total Member's Equity | S | 686,839 | |----------------------------------------------------------------------------------------------|---|---------| | Less non-allowable assets | | 145,824 | | Net Capital | S | 541,015 | | Minimum Net Capital Required (the greater of
\$5,000 or 6 2/3% of aggregate indebtedness) | S | 5.000 | | Capital in Excess of Minimum Requirements | | 536,015 | | Percentage of Aggregate Indebtedness to Net Capital | | 3.98% | There were no material differences existing between the above computation and the computation included in the Company's most recently filed unaudited Form X-17A-5 Part IIA filing. Accordingly, no reconciliation is necessary. See Report of Independent Registered Public Accounting Firm {13}------------------------------------------------ - - - - - #### # % !"!# \$% &'!'%#"!# \$ %' '%(' %') %''#! #&'% ' \* + \$ !' ' %!' "#& ',"#-' # ./0 1234567 8209 62: ;<5=3 0>034:=26 ?@23 AB1 CD<0 EF;GHG 568 =69:058 @0<=09 26 AB1 ?22:62:0 IJ :2 AB1 C0<0590 GJHIKKIGL ./0 1234567 =9 5 626H;2M0@08 ?=@3 9=6;0 =: <=3=:9 =:9 ND9=6099 5;:=M=:=09 0>;034:=26 ?@23 AB1 CD<0 EF;GHG 568 =69:058 @0<=09 26 AB1 ?22:62:0 IJ :2 AB1 C0<0590 GJHIKKIGL ./0 1234567 =9 5 626H;2M0@08 ?=@3 9=6;0 =: <=3=:9 =:9 ND9=6099 5;:=M=:=09 0>;