# THINK ALPHA SECURITIES, LLC X-17A-5 (2026-02-27) — Broker-dealer annual report - Company: THINK ALPHA SECURITIES, LLC - Form: X-17A-5 - Filed: 2026-02-27 - Period: 2025-12-31 - Accession: 0001768366-26-000003 - CIK: 1768366 - File #: 8-70292 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Huntingdon Valley, PA - Contact: Richard M Feldman - Phone: 212-392-4838 - Email: rfeldman@mavenstrategic.com - Website: mavenstrategic.com - Signed by: Lawrence Birch (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1768366/000176836626000003/tasshortreport2025.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 8-70292 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 011/01/25 1 | | AND ENDING 12/31/25 | | |---------------------------------------------|----------|---------------------|----------| | | MM/DD/YY | | MM/DD/YY | A. REGISTRANT IDENTIFICATION # NAME OF FIRM: Think Alpha Securities, LLC 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.) # 116 Commons Way - Building 1 - Suite 116 | | (No. and Street) | | | |--------------------------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------| | Princeton | NJ | | 08540 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Richard M. Feldman | 212-392-4838 | | rfeldman@mavenstrategic.com | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | Sanville & Company | (Name - if individual, state last, first, and middle name) | | | | 2617 Huntingdon Pike | Huntingdon Valley PA | | 19006 | | (Address) | (City) | (State) | (Zip Code) | | 09/18/2003 | | 169 | | | (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 | Lawrence Birch | swear (or affirm) that, to the best of my knowledge and belief, the | | |------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | tinancial report pertaining to the firm of Think Alpha Securities, LLC | | as of | | December 31 | 2 025 | | | | 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 ifle: Chief Executive Officer 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. - [] (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. - [] (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.1563-3. - □ (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. - [ (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 capital or tangible 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. - O (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. - @ (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 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-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ # THINK ALPHA SECURITIES, LLC Statement of Financial Condition December 31, 2025 {3}------------------------------------------------ ### Think Alpha Securities, LLC Statement of Financial Condition Index December 31, 2025 | | Page | |---------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statement: | | | Statement of Financial Condition | 2 | | Notes to the Statement of Financial Condition | 3-6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member and Those Charged With Governance of Think Alpha Securities, LLC #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Think Alpha 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. 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. We have served as the Company's auditor since 2022 Huntingdon Valley, Pennsylvania February 18, 2026 {5}------------------------------------------------ # Think Alpha Securities, LLC Statement of Financial Condition December 31, 2025 | Think Alpha Securities, LLC | | | |----------------------------------------------------------------|-----------------|--| | Statement of Financial Condition | | | | December 31, 2025 | | | | Assets | | | | Cash | \$
253,052 | | | Accounts receivable | 221,703 | | | Receivable from broker dealers | 1,408,683 | | | Prepaid expenses | 48,592 | | | Clearing deposit | 110,732 | | | Other assets | 2,318 | | | Total Assets | \$
2,045,080 | | | Liabilities and Members' Equity | | | | Liabilities: | | | | Accounts payable and accrued expenses | \$
585,132 | | | Due to affiliate | 313,085 | | | Deferred revenue | 262,500 | | | | 1,160,717 | | | Members' equity | 884,363 | | | Total Liabilities and Members' Equity | \$
2,045,080 | | | See accompanying notes to the Statement of Financial Condition | | | {6}------------------------------------------------ #### Think Alpha Securities, LLC Notes to the Financial Statements Year Ended December 31, 2025 ## 1. ORGANIZATION Think Alpha Securities, LLC (the "Company") was organized in Delaware and is registered as a brokerdealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company is majority owned by Think Alpha Holdings, LLC (the "Parent") and minority owned by Webush Financial Services, Inc. The Company clears its business through Wedbush Securities, Inc., an affiliate of Wedbush Financial Services, Inc. The Company offers investment tools and trading platforms to support self-directed customers. ## 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 self-regulatory 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 rule (Rule 15c3-1) which requires that the Company maintain a minimum net capital, as defined. ### 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. #### Use of Estimates The preparation of the Statement of Financial Condition 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 and the disclosure of contingent liabilities. Actual results can differ from those estimates. #### Segment Reporting The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (FASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2023. The Company has identified its President as the Chief Operating Decision Maker as specified in ASU 2023-07. Company management reviewed the ASU 2023-07 disclosure requirements and determined that no additional disclosures are required as the Company has only one reportable segment. {7}------------------------------------------------ #### Think Alpha Securities, LLC Notes to the Statement of Financial Condition (continued) December 31, 2025 ## 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) #### Income Taxes The Company has elected to be taxed as a Partnership. Any tax liabilities due as a result of the Company's operations shall be borne by the members. As such, no tax provision is made by the Company. The Company recognizes and measures tax positions 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. The U.S. Federal jurisdiction and the State of New Jersey are the major tax jurisdictions where the Company files income tax returns. ### Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). This revenue recognition guidance requires that 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 it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. ### Exclusivity Fee The Company entered into an agreement with its clearing firm to provide exclusivity in its clearing arrangements to its clearing firm in return for a fee. Such fee is recognized as revenue on a straight-line basis over the life of the agreement. ### Locate and Fee Recapture Fees The Company invoices the customers for market data and locate fees and recognizes revenue at the point when the transaction price is determinable and it is reasonably certain that a significant reversal will not occur. ### Commissions The Company buys and sells securities on behalf of its customers. Each time a customer enters into a buy or sell transaction, the Company charges a commission. Commissions and related clearing fee income and expenses are recorded on the trade date (the date that the Company fills the trade order by finding and contracting with a counterparty and confirms the trade with the customer). The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer. {8}------------------------------------------------ #### Think Alpha Securities, LLC Notes to the Statement of Financial Condition (continued) December 31, 2025 ## 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) #### Interest Income Interest income is recognized as earned from participation on client brokerage accounts in accordance with the terms specified in the customer brokerage agreements and the Company's clearing contract. # 3. RELATED PARTIES The Company entered into Expense Sharing and Technology Support agreements with the Parent and another affiliate whereby those entities provide certain logistical support to the Company with respect to its operations. As of December 31, 2025, \$143,220 was due to such affiliates under such arrangement. As discussed in Footnote Number 1, the Company's clearing firm, Wedbush Securities, Inc. is affiliated with the Company's minority owner, Wedbush Financial Services, Inc. The Company earns an exclusivity fee from Wedbush Securities, Inc. In addition, due to the normal course of operations, the Company owes Wedbush Securites, Inc. \$169,886 as of December 31, 2025. # 4. CONCENTRATION OF CREDIT RISK The Company maintains cash and savings accounts at one financial institution. Cash balances are insured by the Federal Deposit Insurance Corporation up to \$250,000 per insured bank account. The Company has not experienced any losses in the past in these accounts. # 5. 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. At December 31, 2025, the Company's Net Capital was \$611,750 which was above the required Net Capital by \$534,369. At December 31, 2025, the Company's ratio of Aggregate Indebtedness to Net Capital was 1.9 to 1. {9}------------------------------------------------ ### Think Alpha Securities, LLC Notes to the Statement of Financial Condition (continued) December 31, 2025 ### 6. DUE FROM CLEARING BROKER The Company clears its customer transactions through Wedbush Securities, Inc. on a fully disclosed basis. The Company maintains a clearing deposit of \$100,000 plus accrued interest with Wedbush Securities, Inc. The Company's Due from Clearing Broker include amounts receivable from unsettled trades, including amounts receivable for securities failed to deliver, accrued interest receivables and cash deposits. A portion of the Company's trades are cleared through a clearing organization and settled daily between the clearing organization and the Company. Because of this daily settlement, the amount of unsettled credit exposures is limited to the amount owed the Company for a very short period of time. # 7. COMMITMENTS AND CONTINGENCIES The Company is exposed to various asserted and unasserted potential claims encountered in the normal course of business. As of December 31, 2025, and through the date of this report there were no such claims. ## 8. SUBSEQUENT EVENTS Management has evaluated for disclosure the impact of all subsequent events through the issuance date of this financial statement. No such events require disclosure. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.