# ANGEL POND CAPITAL LLC X-17A-5 (2026-04-07) — Broker-dealer annual report - Company: ANGEL POND CAPITAL LLC - Form: X-17A-5 - Filed: 2026-04-07 - Period: 2025-12-31 - Accession: 0001698476-26-000001 - CIK: 1698476 - File #: 8-69910 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab and Co - Auditor location: Maitland, FL - Contact: J Clarke Gray - Phone: 917-238-1263 - Email: clarke@taylorgrayllc.com - Website: taylorgrayllc.com - Signed by: J Clarke Gray (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1698476/000169847626000001/APC_conf26vf.pdf --- {0}------------------------------------------------ | UNITED STATES
SECURmEs AND EXCHANGE COMMISSION
Washington, D.C. 20549
VMr ( D£N-rl/!L-
ANNUAL REPORTS
C.
FORM X-17A-S
PART Ill
FACING PAGE
Information Required Pursuant to Rules 17a-S, 17a-12, and lSa-7 under the Securities Exchange Act of 1934
FILING FOR THE PERIOD BEGINNING 01 /Q 1 /2025
MM/D0/YY
A. REGISTRANT IDENTIFICATION
NAME oF FIRM: Angel Pond Capital LLC
TYPE OF REGISTRANT (check all applicable boxes):
D Security-based swap dealer
[!] Broker-dealer
0 Check here if respondent is also an OTC derivatives dealer | 0MB Number. 3235-0123
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SEC ALE NUMBER
8-69910
AND ENDING 12/31/2025
MM/0D/YY
D Major security-based swap participant | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | 30 E. 85th Street. 30 FL | | | (No. and Street) | | | New York City | N.Y.
10028 | | (State)
(City) | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | J. Clarke Gray
917-238-1263 | clarke@taylorgrayllc.com | | (Name)
(Area Code-Telephone Number) | (Email Address) | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | Ohab & Company, PA | | | (Name - if individual, state last, first, and middle name) | | | Maitland
100 E. Sybelia Ave. Suite 130 | FL
32751 | | (Address)
(City) | (State)
(Zip Code) | | 06/23/04 | 1839 | | (Date of Re "stration with PCAOB) if a plicable | PCAOB R • stration Number if a plicable) | | FOR OFFICAL USE ONLY | | | | | | • Claims for exemption from the requirement that the annual repons be covered by the reports of an independent public | | Persons who are to respond to the collectton of Information contained In this form are not required to respond unless the form displays a currently valid 0MB control number. {1}------------------------------------------------ #### OATH **OR AFFIRMATION** | I, J. Clarke Gray | | | | | | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------------|--|--|--|----|-------------------------------------------------------------------|--|--|-----------------------------------------------------------------------------------|-------| | | | | | 2~ | financial report pertaining to the firm of Angel Pond Capital LLC | | | | as of | | December 31 | | | | | | | | 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: | | |------------|--| | Title: | | | CFO | | #### **This flllng•• contains (check all appllcable boxes):** - Iii (a) Statement of financial condition. - Iii (b) Notes to consolidated statement of financial condition. - ii (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). - Iii (d) Statement of cash flows. - Iii (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. - Iii (g) Notes to consolidated financial statements. - Iii (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. - □ 0) 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 240.1Sc3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.1Sc3-3. - Iii (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. - Iii (o) Reconciliations, induding 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. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - Iii {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. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - Iii (s) Exemption report in accordance with 17 CFR 240.17a-S 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. - Iii ( 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-S or 17 CFR 240.18a-7, as applicable. - Iii (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-S or 17 CFR 240.18a-7, as applicable. - □ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.1Sc3-1e 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). □ (z) other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - .. To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e}{3) or 17 CFR 240.18a-7{d}{2), as applicable. {2}------------------------------------------------ ### ANGEL POND CAPITAL LLC ### FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION DECEMBER 31, 2025 (Filed Pursuant to Rule 17a-5 Under the Securities Exchange Act of 1934) CONFIDENTIAL TREATMENT REQUESTED {3}------------------------------------------------ # **ANGEL POND CAPITAL LLC CONTENTS** | Report of Independent Registered Public Accounting Firm | 1-2 | |--------------------------------------------------------------------------------------------------------|------| | FINANCIAL STATEMENTS | | | Statement of Financial Condition | 3 | | Statement of Operations | 4 | | Statement of Changes in Member's Equity | 5 | | Statement of Cash Flows | 6 | | Notes to Financial Statements | 7-13 | | SUPPLEMENT AL INFORMATION | | | Schedule I: Computation of Net Capital Under Rule l 5c3-l of
the Securities and Exchange Commission | 14 | | Schedule II: Exemptive Provision Under Rule l 5c3-3 of the | | # MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH EXEMPTIVE PROVISIONS OF SEC RULE 15c3-3 Securities and Exchange Commission | Report of Independent Registered Public Accounting Finn | 16 | |---------------------------------------------------------------------|----| | Management Statement Regarding Compliance with Exemptive Provisions | | | of SEC Rule 15c3-3 | 17 | 15 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) I 00 E. Sybclia A \'c. Suite 130 Mail lam.I. fl. 3275 I *C'ertijiecl Public: Accountcmts* I :n.:il p;n111111luhL·n ,~nni Telephone 407-740-731 l Fox 407-740-6441 ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Angel Pond Capital LLC ### **Opinion on the Financial Statements** We have audited the accompanymg statement of financial condition of Angel Pond Capital LLC as of December 31. 2025. 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. m all material respects, the financial position of Angel Pond Capital LLC as of December 31. 2025. and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted m the United States of America. ### **Basis for Opinion** These fmanc1al statements are the respons1b1lity of Angel Pond Capital LLC management. Our responsibility is to express an opinion on Angel Pond Capital LLC's 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 Angel Pond Capital LLC in accordance with the U.S. federal secunties laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB We conducted our audit rn accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtam 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 performmg 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 s1gmf1cant 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. #### **Going Concern** The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 8 to the financial statements, the Company has suffered losses from operations that raise substantial doubt about its ability to continue as a going concern. Management's plans m regard to these matters are also described in Note 8. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. #### **Auditor's Report on Supplemental Information** The Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission and Schedule II, Exemptive Provision Under Rule 15c3-3 of the Securities and Exchange Commission have been subjected to audit procedures performed m conJunction with the audit of Angel Pond Capital LLC's financial statements. The supplemental information is the responsibility of Angel Pond Capital LLC's management. Our audrt procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting 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, 1s presented m conformity with 17 C.F.R. §240.17a-5. In our opinion, the Schedule I, Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission and Schedule ti, Exemptive Provision {5}------------------------------------------------ Under Rule 15c3-3 of the Securities and Exchange Commission are fairly stated, in all material respects. in relation to the financial statements as a whole. 0•~ .~ '4~, *ft-r* We have served as Angel Pond Capital LLC's auditor since 2022. Maitland, Florida Apnl1,2026 {6}------------------------------------------------ # **ANGEL POND CAPITAL LLC Statement of Financial Condition December 31, 2025** ### ASSETS: | Cash and cash equivalents | \$
139,840 | |----------------------------------------|---------------| | Other assets | 10,256 | | TOT AL ASSETS | \$
150,096 | | | | | | | | LIABILITIES and MEMBER'S EQUITY | | | Accounts payable | \$
6,692 | | Due to Puissance Capital Management LP | 102,773 | | Total Liabilities | 109,465 | | | | | Member's Equity | 40,631 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
150,096 | {7}------------------------------------------------ # **ANGEL POND CAPITAL LLC Statement of Operations For the Year Ended December 31, 2025** ### **REVENUE** | Interest | \$
8,094 | |--------------------------|-----------------| | Total revenue | 8,094 | | | | | EXPENSES | | | Professional fees | 72,592 | | Office expenses | 68,993 | | Travel and entertainment | 37,949 | | Regulatory | 7,105 | | IT, data and telecom | 3,109 | | Total expenses | 189,748 | | Net loss | \$
(181,654) | {8}------------------------------------------------ # **ANGEL POND CAPITAL LLC Statement of Changes in Member's Equity For the Year Ended December 31, 2025** | Balance at January l, 2025 | \$
122,285 | |------------------------------|---------------| | Member contribution | 100,000 | | Net loss | (181,654) | | Balance at December 31, 2025 | \$
40,631 | {9}------------------------------------------------ # **ANGEL POND CAPITAL LLC Statement of Cash Flows For the Year Ended December 31, 2025** | Cash flows from operating activities: | | |-------------------------------------------------------------------|---------------| | Net loss | \$ (181,654) | | Adjustments to reconcile net loss to net cash used in operations: | | | Increase in due to Puissance Capital Management LP | 112,281 | | Decrease in accounts payable | {1,200) | | Net cash used in operating activities | (70,573) | | Cash flows provided by financing activities: | | | Member contribution | 100,000 | | Net cash provided by financing activities | 100,000 | | Net increase in cash | 29,427 | | Cash and cash equivalents at beginning of year | \$
110,413 | | Cash and cash equivalents at end of year | \$
139,840 | ### **Supplemental cash flow information:** There was \$0 paid for interest and \$0 paid for taxes during the year. The accompanying notes are an integral part of these financial statements {10}------------------------------------------------ # Note t - Nature of Business and Summacy or Significant Accounting Policies ## **Nature of Business:** **Angel Pond Capital, LLC ("the Company", "the LLC", "or "APC")** was organized in Delaware on September 23, 2014 under the name Puissance Financial Group LLC, subsequently changed to APC on June 23, 2017. The Company commenced operations as a broker/dealer on June 6, 2017, the date it was approved as a broker/dealer and registered with the Securities and Exchange Commission ("SEC"). The Company is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company advises its customers in raising capital through its private placement and corporate finance business. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3 however the Company is relying on Footnote 74 of SEC Release no. 34-70073 adopting amendments to 17 C.F.R. §240.17a-5 because the Company limits its business activities to advisory fees and advising clients on capital raising as well as the private raising of capital. However, the Company does not hold customer funds or securities. Under these exemptive provisions, the Computation for Determination of Reserve Requirements and Information Relating to the Possession and Control Requirements are not required. ### **Significant Accounting Policies:** ## Basis of Presentation The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. **GAAP").** ## Use of Estimates The preparation of financial statements in conformity with GA AP requires management to make estimates and assumptions that affect the reported amounts of the assets 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 reporting period. Actual results could differ from those estimates. ### Revenue Recognition The Company generates fee revenue for advising its clients on capital raising and on the private placement of the capital. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine when performance obligations are satisfied at a point in time or over time; {11}------------------------------------------------ # Note 1 - Nature of Business and Summary of Sipificant Accountine Policies 40,631 | |-----------------------------------------------------------------------------------------------------|---------------| | Total deductions for non-allowable assets: | | | Other assets | 10,256 | | Net capital before haircuts on securities | 30,375 | | Haircuts on securities | 773 | | Net Capital | \$
29,602 | | Computation of basic net capital requirement
Minimum net capital required (greater of \$5,000 or | | | 6.67% of aggregate indebtedness) | \$
7,298 | | Net capital in excess of minimum requirement | \$
22,304 | | Aggregate indebtedness | \$
109,465 | | Percentage of aggregate indebtedness to net capital | 369.79% | | Net Capital as reported in unaudited Form X-l 7A-5 Part II filing | \$
27,966 | | Haircut on money market funds | (
773) | | Increased interest income | 2,502 | | Other | ( 93) | | Net Capital as revised and reflected above | \$
29,602 | {18}------------------------------------------------ ### **ANGEL POND CAPITAL LLC Supplemental Information Schedule** II **Exemptive Provisions U oder Rule 15c3-3 Of the Securities And Exchange Commission December 31, 2025** The Company does not claim an exemption from the provisions of Rule 15c3-3 of the Securities and Exchange Commission, however the Company does not hold customer funds or securities as of December 31, 2025. {19}------------------------------------------------ ![](_page_19_Picture_0.jpeg) 100 E. S)'bl!lia Ave. Suite 130 Maitland. FL 3275 I Cer1ified l'ubli<' Accm,mams 1 111:1i!: pa111.-., oh:1J1~ Telephone 407-740-7311 Fa, 407-740-6441 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of Angel Pond Capital LLC We have reviewed management's statements, included in the accompanying management statement regarding compliance with the exemptive provisions of SEC Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) Angel Pond Capital LLC (the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240 15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 7 4 of the SEC Release No. 34-70073 adopting amendments to 17 CF R § 240.17a-5 because the Company limits its business activities exclusively to advisory fees from advising clients on capital raising and the private placement of the capital. ln addition. the Company did not directly or indirectly receive. hold, or otherwise owe funds or securities for or to customers; did not carry accounts of or for customers; and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. Angel Pond Capital LLC's management 1s responsible for compliance with the provisions contemplated by Footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 and related SEC Staff Frequently Asked Questions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Angel Pond Capital LLC's compliance with the provision of Footnote 7 4 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C F.R § 240 17a-5, and related SEC Staff Frequently Asked Questions. ~ ~ " Ohab and Company, PA Maitland, Florida April 1, 2026 {20}------------------------------------------------ ### **ANGEL POND CAPITAL LLC** ### Management Statement Regarding Compliance with the Exemptive Provisions of SEC Rule 15c3-3 Angel Pond Capital LLC (the Company) is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-*5,* "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.l 7a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: ( 1) The Company does not claim an exemption under paragraph (k) of 17 C.F .R. § 240. 15c3-3, and (2) The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.l 7a-5 because the Company limits its business activities exclusively to advisory fees from advising clients on capital raising and the private placement of the capital and the Company (1) d~d not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, and (2) did not carry accounts of or for customers; and (3) did not carry P AB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. I, J. Clarke Gray, affirm that, to my best knowledge and belief, this Exemption Report is true and correct. J. Clarke Gray, CFO January 21, 2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.