# HILCO CORPORATE FINANCE, LLC X-17A-5 (2026-06-30) — Broker-dealer annual report - Company: HILCO CORPORATE FINANCE, LLC - Form: X-17A-5 - Filed: 2026-06-30 - Period: 2026-03-31 - Accession: 0001657672-26-000009 - CIK: 1657672 - File #: 8-69699 - Type: Broker-dealer - Material weakness: No - Auditor: Michael Coglianese CPA, P.C. - Auditor location: Lincolinshire, IL - Contact: Thomas Hopkins - Phone: 6032168933 - Email: tstratton@hilcocf.com - Website: hilcocf.com - Signed by: Teri Stratton (Executive Director) Original filing: https://www.sec.gov/Archives/edgar/data/1657672/000165767226000009/hilpub.pdf --- {0}------------------------------------------------ # Hilco Corporate Finance, LLC Annual Financial Statement For the 15-Month period from January 1, 2025 to March 31, 2026 (FILED AS PUBLIC INFORMATION PURSUANT TO RULE 17a-5(d) UNDER THE SECURITIES EXCHANGE ACT OF 1934) {1}------------------------------------------------ ### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: Expires: Estimated average burden hours per response: 3235-0123 Nov. 30, 2026 12 # ANNUAL REPORTS FORM X-17A-5 PART III SEC FILE NUMBER 8-69699 FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | 1/1/2025 | 3/31/2026
FILING FOR THE PERIOD BEGINNING _____________________ AND ENDING ______________________ | | | | |-----------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|-----------------|--------------------------------------------|--| | | MM/DD/YY | | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: _______________________________________________________________________ | HILCO CORPORATE FINANCE, LLC | | | | | | Broker-dealer
~
□
□ | TYPE OF REGISTRANT (check all applicable boxes):
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.) | | | | | | | 401 N. MICHIGAN AVENUE, SUITE 1630
_____________________________________________________________________________________ | | | | | | | | (No. and Street) | | | | | | CHICAGO
_____________________________________________________________________________________ | IL | | | 60611 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Teri Stratton
_____________________________________________________________________________________ | 847-313-4716 | | | tstratton@hilcocf.com | | | (Name) | (Area Code – Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | Michael Coglianese CPA, P.C. | | | | | | | _____________________________________________________________________________________ | (Name – if individual, state last, first, and middle name) | | | | | | 300 Tri State lnt'I | Lincolnshire | | IL | 606069 | | | _____________________________________________________________________________________
(Address) | (City) | | (State) | (Zip Code) | | | October 20, 2009
_____________________________________________________________________________________ | | 3874 | | | | | (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 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 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. {2}------------------------------------------------ #### OATH OR AFFIRMATION I, \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_, as of \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_, 2\_\_\_\_\_, 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. **Teri Stratton March 31 HILCO CORPORATE FINANCE, LLC 026** Signature: Title: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ **Executive Director** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Notary Public ## 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. D - (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. D - (f) Statement of changes in liabilities subordinated to claims of creditors. D - (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. D - (i) Computation of tangible net worth under 17 CFR 240.18a-2. D - (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. D - (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 - (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. D - (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 240.18a-4, as applicable. D - (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible 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. D - (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. D - (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. Ill - (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. D - (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. D - (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 report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. D - (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. D - (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. D - (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. D - (y) Report describing any material inadequacies found to exist or 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). D - (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ D - *\*\*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.* {3}------------------------------------------------ # Hilco Corporate Finance, LLC Annual Financial Statement Index 'For the 15-Month period from January 1, 2025 to March 31, 2026 | | Page | |---------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statement: | | | Statement of Financial Condition | 2 | | Notes to the Financial Statement | 3-5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Members of Hilco Corporate Finance, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Hilco Corporate Finance, LLC as of March 31, 2026, 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 Hilco Corporate Finance, LLC as of March 31, 2026 in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of Hilco Corporate Finance, LLC's management. Our responsibility is to express an opinion on Hilco Corporate Finance, LLC's financial statement 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 Hilco Corporate Finance, LLC 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 statement is 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 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 statements. 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 statements. We believe that our audit provides a reasonable basis for our opinion. We have served as Hilco Corporate Finance, LLC's auditor since 2022. Lincolnshire, IL June 25, 2026 {5}------------------------------------------------ # Hilco Corporate Finance, LLC Statement of Financial Condition For the 15-Month period from January 1, 2025 to March 31, 2026 # ASSETS | Total Assets | \$
6,532,409 | |-----------------------------|-----------------| | Property and equipment, net | 1,451 | | Other assets | 2,782 | | Accounts receivable, net | 423,224 | | Cash & cash equivalents | \$
6,104,952 | | | | # LIABILITIES AND MEMBER'S EQUITY | Total Liabilities and Member's Equity | \$
6,532,409 | |---------------------------------------|-----------------| | MEMBER'S EQUITY | 3,271,351 | | Total Liabilities | \$
3,261,058 | | Due to affiliate | 1,367,446 | | Due to parent | 110,426 | | Accrued liabilities | 157,512 | | Accrued bonus | 1,625,250 | | Accounts payable | \$
424 | | LIABILITIES: | | The accompanying notes to the financial statement are an integral part of this statement. {6}------------------------------------------------ # 1. ORGANIZATION Hilco Corporate Finance, LLC (the "Company") is a broker-dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company is a wholly owned subsidiary of Hilco Valuation Services, LLC (the "Parent"). The Company was formed on March 9, 2015 as a limited liability company in accordance with the laws of the state of Delaware. The Company received its initial capital contribution on January 5, 2016. The firm was approved as member of FINRA on August 18, 2016. The primary business of the Company is to provide services in the areas of mergers and acquisitions and private capital raising. Effective September 2, 2025, ORIX USA acquired a majority equity ownership of Hilco Global. Hilco Global now operates as a subsidiary of ORIX USA. As part of the acquisition, Hilco Corporate Finance amended its fiscal year end, from December 31st to March 31st, to align with ORIX USA. This request was approved by FINRA on October 16, 2025. Due to this change, Hilco Corporate Finance financial statements will cover the period from January 1st 2025 to March 31st 2026 which will constitute a 15-month reporting period. # 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Basis of Presentation The accounting policies and reporting practices of the Company conform to the practices in the broker-dealer industry and are in accordance with accounting principles generally accepted in the United States of America. #### Government and Other Regulation The Company's business is subject to significant regulation by various governmental agencies and selfregulatory organizations, including the SEC and FINRA. Such regulation includes, among other things, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with the applicable requirements of these organizations. As a registered broker dealer, the Company is subject to the SEC's net capital rules (Rule 15c3-1) which require that the Company maintain a minimum net capital, as defined. The Company does not hold customers' cash or securities; therefore, the Company is exempt from the requirement of SEC Rule 15c3-3 of the Act pertaining to the possession or control of customer assets and reserve requirements. ## Cash and Cash Equivalents The Company considers all highly liquid debt instruments having original maturities of three months or less at the date of purchase to be cash equivalents. The Company may, during the ordinary course of business, maintain account balances with banks in excess of federally insured limits. The Company has not experienced losses on these accounts, and management believes that the Company is not exposed to significant risks on such accounts. At March 31, 2026, the cash and cash equivalents were held in interest bearing accounts at JPMorgan Chase Bank totaling \$6,024,699. The Company also held cash in the Flex-Funding account with FINRA in the amount of \$80,253 at March 31, 2026. #### Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities for the 15-month period from January 1, 2025 to March 31, 2026 and revenues and expenses during the period then ended. The actual outcome of the estimates could differ from the estimates made in the preparation of the financial statements. {7}------------------------------------------------ ## Income Taxes No provisions have been made for income taxes since the Company is a single member limited liability company and is considered a disregarded entity for income tax purposes. The sole member is liable for income taxes based on the Company's taxable income. # 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) ## Income Taxes (continued) The Company recognizes and measures tax provisions taken or expected to be taken in its tax return based on their technical merit and assesses the likelihood that the positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. Interest and penalties on tax liabilities, if any, would be recorded in expenses. The U.S. Federal jurisdiction and the state of Illinois are the major tax jurisdictions where the Company files income tax returns. The Company is subject to U.S. Federal or state examinations by tax authorities for all periods since its inception. ## Contract Liabilities Cash payments received prior to the satisfaction of a contract's performance obligations are recognized as contract liabilities. ### 3. RELATED PARTIES The Company and its Parent have entered into an agreement whereby they share office space and office services. The cost of such space and services are allocated between the entities. Any amounts owed are due on demand and bear no interest. At March 31, 2026, the Company recorded a liability of \$110,426 which is due to its Parent for such services. The amount of expenses allocated to the Company during the 15-month period from January 1, 2025 to March 31, 2026 was \$959,977. The Company also provides consulting services to its parent from time to time in exchange for advisory revenues. At March 31, 2026, the Company had no receivable due from its Parent for such services. The amount of advisory revenues recognized for services provided to the Parent during the 15-month period from January 1, 2025 to March 31, 2026 was \$310,812. At March 31, 2026, the Company reported a liability of \$1,367,446 which is due to Hilco related parties which includes, \$35 to Hilco Real Estate Appraisal, LLC, \$14,238 to Hilco IP Services, LLC, \$6,597 to Hilco IP Merchant Capital, LLC, and \$1,316,535 to Hilco Global Professional Services, for rent, office supplies, and payroll. During the 15-month period from January 1, 2025 to March 31, 2026, Hilco Trading, LLC, an affiliate of the Company, advanced funds for payment of expenses to the Company. At March 31, 2026, the Company recorded a liability of \$30,041 which is due to Hilco Trading, LLC for such expenses. The amount of expenses advanced to the Company for the 15-month period from January 1, 2025 to March 31, 2026 was \$634,019. ## 4. NET CAPITAL REQUIREMENTS The Company, as a registered broker-dealer, is subject to the Securities and Exchange Commission's Net Capital Rule (Rule 15c3-1), which requires that the Company maintain Net Capital (as defined in the Rule) equal to the greater of \$5,000 or 6-2/3% of Aggregate Indebtedness (also as defined) and requires that the ratio of Aggregate Indebtedness to net capital shall not exceed 15 to 1. {8}------------------------------------------------ ## Hilco Corporate Finance, LLC Notes to Financial Statement Year ended March 31, 2026 For the 15-month period from January 1, 2025 to March 31, 2026, the Company's net capital requirement was \$217,404. The Company's Net Capital was \$2,843,894 which was above the required Net Capital by \$2,626,490. For the 15-month period from January 1, 2025 to March 31, 2026, the Company's ratio of Aggregate Indebtedness to Net Capital was 114.67 to 1. ## 5. COMMITMENTS AND CONTINGENCIES The Company is exposed to various asserted and unasserted potential claims encountered in the normal course of business. For the 15-month period from January 1, 2025 to March 31, 2026 and through the date of this report there were no such claims. ## 6 SUBSEQUENT EVENTS The subsequent events for the Company have been evaluated by management through the date of this report. It was determined that there were no subsequent events to recognize in the financial statements. # 7 SINGLE REPORTABLE SEGMENT The Company is engaged in a single line of business as a broker-dealer, which provides a range of financial advisory and investment banking services, including restructuring advisory services, capital advisory, and M&A advisory. The Company has identified its chief executive officer as the chief operating decision maker 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, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment because the 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 described in the summary of significant policies. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.