# LSH PARTNERS SECURITIES LLC X-17A-5 (2026-02-23) — Broker-dealer annual report

- Company: LSH PARTNERS SECURITIES LLC
- Form: X-17A-5
- Filed: 2026-02-23
- Period: 2025-12-31
- Accession: 0001681732-26-000001
- CIK: 1681732
- File #: 8-69817
- Type: Broker-dealer
- Material weakness: No
- Auditor: Weisberg, Mole'. Krantz & Goldfarb, LLP
- Auditor location: Woodbury, NY
- Contact: Daniel Sakol
- Phone: 5163935618
- Email: daniel.sakol@jrsfinancialservices.com
- Website: jrsfinancialservices.com
- Signed by: James L. Kempner (President)

Original filing: https://www.sec.gov/Archives/edgar/data/1681732/000168173226000001/lshpublic.pdf

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# LSH PARTNERS SECURITIES, LLC

STATEMENT OF FINANCIAL CONDITION

DECEMBER 31, 2025

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

## ANNUAL REPORTS FORM X-17A-5 PART III

| OMB APPROVAL              |
|---------------------------|
| OMB Number: 3235-0123     |
| Expires: Nov. 30, 2026    |
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|  |         | SEC FILE NUMBER |
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|  | 8-69817 |                 |

FACING PAGE

Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934

| Filing for the period beginning 01/01/2025<br>AND ENDING 12/31/2025 |
|---------------------------------------------------------------------|
|---------------------------------------------------------------------|

MM/DD/YY

MM/DD/YY

A. REGISTRANT IDENTIFICATION

#### LSH Partners Securities LLC NAME OF FIRM:

TYPE OF REGISTRANT (check all applicable boxes):

🇿 Broker-dealer □ Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

## 780 Third Avenue 11th floor

|                                                  | (No. and Street)                                                                                      |                 |                                            |  |
|--------------------------------------------------|-------------------------------------------------------------------------------------------------------|-----------------|--------------------------------------------|--|
| New York                                         | NY                                                                                                    |                 | 10017                                      |  |
| (City)                                           | (State)                                                                                               |                 | (Zip Code)                                 |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING     |                                                                                                       |                 |                                            |  |
| Daniel Sakol                                     | 516 393 5618                                                                                          |                 | daniel.sakol@jrsfinancialservices.com      |  |
| (Name)                                           | (Area Code - Telephone Number)                                                                        | (Email Address) |                                            |  |
|                                                  | B. ACCOUNTANT IDENTIFICATION                                                                          |                 |                                            |  |
|                                                  | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*                             |                 |                                            |  |
|                                                  | Weisberg, Mole', Krantz & Goldfarb, LLP<br>(Name - if individual, state last, first, and middle name) |                 |                                            |  |
| 185 Crossways Park Drive                         | Woodbury                                                                                              | NY              | 11797                                      |  |
|                                                  | (City)                                                                                                | (State)         | (Zip Code)                                 |  |
| 12-14-2004                                       |                                                                                                       | 2107            |                                            |  |
| (Date of Registration with PCAOB)(if applicable) |                                                                                                       |                 | (PCAOB Registration Number, if applicable) |  |
| (Address)                                        |                                                                                                       |                 |                                            |  |

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.

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#### OATH OR AFFIRMATION

I, James L. Kemper swear (or affirm) that, to the best of my knowledge and belief, the financial LSH Partners Securities LLC report pertaining to the firm of \_\_

December 31 , 2025 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: Title: President

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 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.
- [] (f) Statement of changes in liabilities subordinated to claims of creditors.
- [ (g) Notes to consolidated financial statements.
- |
- [ (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- |
- □ (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.
- [ (I) 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 worth under 17 CFR 240.15c3-1, 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 240.18a-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.
- @ {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 CFR 240.18a-7, as applicable.
- [] (x) Supplemental reports on applying agreed-upon procedures, in accordance with 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).
- □ (z) Other:
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(d)(2), as applicable.

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## LSH PARTNERS SECURITIES, LLC

### DECEMBER 31, 2025

#### TABLE OF CONTENTS

|                                                         | Page (s) |
|---------------------------------------------------------|----------|
| Report of Independent Registered Public Accounting Firm |          |
| Statement of Financial Condition                        |          |
| Notes to the Financial Statement                        | 2-5      |

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![](_page_4_Picture_0.jpeg)

## Weisberg, Molé, Krantz & Goldfarb, LLP Certified Public Accountants

### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Managing Member of LSH Partners Securities, LLC

### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of LSH Partners Securities, 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 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 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 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.

## Weisberg, Mole', Krantz & Goldfarb, LLP

We have served as the Company's auditor since 2025.

Woodbury, New York February 14, 2026

> 185 Crossways Park Drive, Woodbury, New York 11797 • Phone: 516-933-3800 • Fax: 516-933-1060 www.weisbergmole.com

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## LSH PARTNERS SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025

#### Assets

| Cash                                  | S | 65,013  |
|---------------------------------------|---|---------|
| Accounts receivable                   |   | 7,500   |
| Prepaid expenses                      |   | 38,947  |
| Total Assets                          | S | 111,460 |
| LIABILITIES AND MEMBER'S EQUITY       |   |         |
| Liabilities                           |   |         |
| Accounts payable                      |   | 15,257  |
| Due to member                         |   | 582     |
| Total liabilities                     | S | 15,839  |
|                                       |   |         |
| Member's equity                       |   | 95,621  |
| Total liabilities and member's equity | S | 111,460 |

The accompanying notes are an integral part of this financial statement

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## LSH PARTNERS SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025

### 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

LSH Partners Securities, LLC (the "Company") is wholly-owned by LSH Partners, LLC (the "Member"). The Company was organized on May 31, 2016 as a Delaware limited liability company and is registered to do business in New York as a foreign limited liability company. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 and is a member of both the Financial Industry Regulatory, Inc. ("FINRA") and the Securities Investors Protection Corporation ("SIPC") as of November 15, 2016. The operating agreement provides for the limited liability company to exist in perpetuity. The member's limit on liability is based on the Company renders financial advisory services to selected clients with respect to capital raising, business restructurings and other financial services.

The Company does not claim an exemption from SEA Rule 15c3-3, in reliance 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company has represented that it does not and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers and (3) does not and will not carry PAB accounts. The firm's business activities are, and will remain as described below.

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of presentation

The accompanying financial statements of the Company have been prepared in accounting principles generally accepted in the United States of America ("U.S. GAAP").

#### Use of estimates

The preparation of financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assess 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 results could differ from those estimates.

#### Revenue recognition

In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers" ("ASC 606") revenues from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied at a point in time or over time. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer.

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## LSH PARTNERS SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(continued)

#### Income taxes

As a wholly-owned limited liability company the Company is considered to be a disregarded entity for tax reporting purposes and is thus not subject to Federal, state or local income taxes and does not file income tax returns in any jurisdiction. All items of income, expense, gains and losses are reportable by the Member for tax purposes.

#### Leases

In accordance with FASB Accounting Standards Codification ("ASC") 842, "Leases" ("ASC 842"), the Company accounts for its existing operating lease as an operating lease using the practical expedients permitted under ASC Topic 842. The Company defines a short-term lease as a lease that, at the commencement date, has a lease term of 12 months or less and does not contain an option to purchase the underlying asset that the lease is reasonably certain to exercise. The Company elected to recognize short-term lease payments as an expense on a straight-line basis over the lease payments are recognized in the period in which the obligation is incurred. The Company's lease obligations are deemed to be short term.

#### Adoption of new accounting standards

The FASB issued (ASU) 2023-07, "Segment Reporting" (Topic 280) which increased disclosure requirements regarding a public entity's reportable segments effective for fiscal years beginning after December 15, 2023. ASU 2023-07 requires incremental line-item disclosures about each reportable segment's expenses as well as profit and losses. The Company has evaluated the guidance there under and hat The Company operates as one operating segment. For further discussion refer to Footnote '7', Reportable Segments.

#### 3. CONCENTRATION OF CREDIT RISK

The Company's cash deposits are held by one financial institution and therefore, are subject to credit those balances exceeded the Federal Deposit Insurance Corporation ("FDIC") insurance limit of \$250,000. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash.

As of December 31, 2025, 9 customers accounted for 96% of total revenues, and 1 customer accounted for 100% of accounts receivable.

#### 4. RELATED PARTY TRANSACTIONS

Pursuant to an expense sharing agreement, the Company reimburses the member for allocated salaries, rent and communication expenses paid for by the Member. These charges are updated periodically, and determined based on percentages of personnel time and other factors. For the year ended December 31, 2025, the Member charged the Company \$1,112,447 for such expenses.

The Company has recorded a due to member in the amount of \$582 related to unpaid allocated expenses as of December 31, 2025. Amounts due to member are non-interest bearing and are due on demand.

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## LSH PARTNERS SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025

### 5. COMMITMENTS AND CONTINGENCIES

As a regulated securities broker dealer, from time the Company may be involved in legal proceedings and regulatory audits. The Company is not currently involved in an ongoing FINRA review.

#### 6. NET CAPITAL REQUIREMENTS

The Company is subject to the uniform net capital requirements of Rule ") of the Securities and Exchange Act, as amended, which requires the Company to maintain, at all times, sufficient liquid assets to cover indebtedness. In accordance with the Rule, the Company is required to maintain defined minimum net capital of the greater of \$5,000 or 6 2/3% of aggregate indebtedness.

At December 31, 2025, the Company had net capital, as defined, of \$49,174, which exceeded the required minimum net capital of \$5,000 by \$44,174. Aggregate indebtedness at December 31, 2025 totaled \$15,839. The Company's percentage of aggregate indebtedness to net capital was 32.21%.

It is the intention of the member to continue to support and operate the Company for the twelve-month period from the date that these financial statements are issued and contribute the necessary capital to maintain the operations, fund its ongoing expenses and meet the net capital requirements of the SEC's Uniform Net Capital Rule.

#### 7. REPORTABLE SEGMENTS

The Company is engaged in a single line of business as a securities broker-dealer, The Company renders financial advisory services to selected clients with respect to capital raising, business restructurings and other financial services. The Company has identified its 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 6), 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 dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the business activities using information of the Company as a whole. The accounting policies used to measure profit and loss of the same as those described in the summary of significant accounting policies.

#### 8. SUBSEQUENT EVENTS

Management of the Company has evaluated events and transactions that have occurred through February 14, 2026, the date these financial statements were available to be issued and determined that there are no material events that would require disclosures in the Company's financial statements.


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.