# PELOTON SECURITIES LLC X-17A-5 (2026-02-27) — Broker-dealer annual report - Company: PELOTON SECURITIES LLC - Form: X-17A-5 - Filed: 2026-02-27 - Period: 2025-12-31 - Accession: 0001778878-26-000002 - CIK: 1778878 - File #: 8-70354 - Type: Broker-dealer - Material weakness: No - Auditor: Ohab $ Co., PA - Auditor location: Maitland, FL - Contact: Harper Marshal - Phone: 603-379-8027 - Email: jmgirald@pelotonadvisory.com - Website: pelotonadvisory.com - Signed by: John-Michael Girald (President) Original filing: https://www.sec.gov/Archives/edgar/data/1778878/000177887826000002/pubfs25.pdf --- {0}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0 MB Number: 3235-0123 Expires: Nov 30, 2026 Estimated average burden hours per response: 12 # **ANNUAL REPORTS FORM X-17 A-5 PART Ill** SEC FILE NUMBER 8-70354 **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 \_\_\_ 1 \_ 11\_ 12\_ 0 \_ 2 \_ 5 \_\_\_ AND ENDING \_\_\_ 12 \_ 1 \_ 3 \_ 11\_ 2 \_ 02\_ 5 \_\_ \_ MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIFICATION** Peloton Securities LLC NAME OF FIRM: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ TYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer D Security-based swap dealer D 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.) 117 Bow Street, Unit 111 Portsmouth (City) (No. and Street) **NH** (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 03801 (Zip Code) John Michale Girald 603-379-8025 jmgirald@pelotonadvisory.com (Name) (Area Code -Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing \* Ohab & Company, PA 100 E Sybelia Ave , Suite 130 (Address) July 28, 2004 (Name - if individual, state last, first, and middle name) Maitland (City) 1839 **FOR OFFICIAL USE ONLY** (State) FL 32751 (Zip Code) \* 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-S(e)(l)(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 0MB control number.** {1}------------------------------------------------ #### OATH OR AFFIRMATION | I, John Michael Girald | he best of my kn
sw ear (or affirm ) t hat, to t | owledge and belief, t he | |--------------------------------------------------------------------|----------------------------------------------------------------------------------------|--------------------------| | fi nancial report pertaining to the firm of Peloton Securities LLC | | as of | | 2~
December 31, | is t rue and correct. I furt her sw ear (or affirm) that neit her t he company nor any | | partner, officer, director, or equivalent person, as t he case may be, has any proprietary interest in any account classifi ed solely as t hat of a customer. | Signat ure:
John-Michael Girald | Digitally signed by John-Michael Girald
Date: 2026.02.13 10:12:30 -05'00' | | |------------------------------------|------------------------------------------------------------------------------|--| | Title: | | | | President | | | #### **This filing\*\* contains (check all applicable boxes):** - [!] (a) Statement of financial condit ion. - [!] (b) Notes to consolidated statement of financial condit ion. - □ (c) Statement of income (loss) or, if t here is ot her 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) Computat ion 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 240.15c3-3. - □ (k) Computation for determinat ion 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 t angible 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 t hat no material differences exist. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condit ion. - [!] (q) Oath or affirmat ion 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 wit h 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 report or 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 exist or found to have existed since t he date of t he 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 240.18a-7{d}(2), as applicable. {2}------------------------------------------------ PELOTON SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 {3}------------------------------------------------ # PELOTON SECURITIES, LLC # CONTENTS | | Page | |---------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | 2 | | Financial Statement | | | Statement of Financial Condition at December 31, 2025 | 3 | | Notes to Financial Statements | 4-6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) I 00 E. Syhclia A vc. Suite 130 Maitland. FL 32751 *Certified Public Accountants* I 111.11 I pam *a* ohah1.:1i.-:om Telephone 407-740-7311 Fax 407-740-6441 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of Peloton Securities, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Peloton Securities, LLC as of December 31 . 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly , mall material respects, the financial position of Peloton Securities, LLC 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 Peloton Securities, LLC's management. Our responsibility is to express an opinion on Peloton Securities, 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 Peloton Securities, 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 Peloton Securities, LLC 's auditor since 2021 . Maitland, Florida February 4, 2026 {5}------------------------------------------------ #### PELOTON SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31 , 2025 #### ASSETS | Cash
Prepaid expenses | | \$
45,310
1 143 | |--------------------------|---------------------------------|-----------------------| | Total assets | | \$
46453 | | | LIABILITIES AND MEMBERS' EQUITY | | | | | | | | | | | Members' equity | 46,453 | |---------------------------------------|--------------| | Total liabilities and members' equity | \$
46,453 | \$ Liabilities {6}------------------------------------------------ ## PELOTON SECURITIES, LLC NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 ## Note 1 - Organization Peloton Securities, LLC (the "Company") is a broker-dealer registered with the United States Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company was organized in May of 2019 as a New Hampshire limited liability company. The firm's membership with FINRA became effective on April 1, 2020. The Company provides **M&A** advisory services to clients. # Note 2 - Summary of Significant Accounting Policies # Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Company is engaged in a single line of business as a broker-dealer which is investment banking services. ## Cash and Cash Equivalents The company considers cash on deposit and money market accounts with a maturity date of three months or less to be cash and cash equivalents. At times, cash balances held at financial institutions may be in excess of balances insured by FDIC. ## Revenue Recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606") which 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 the performance obligation. The Company typically enters into contracts with clients calling for periodic advisory fees to be paid during the term of the arrangement, and a success fee to be paid out once the transaction is successfully completed as defined in the customer agreement. The success fee is typically based on a percentage of the total consideration of the transaction, although in certain cases it may be a flat fee. Accordingly, the Company recognizes advisory fees in the period earned with separate revenue recognition once each transaction is finalized. All revenue for the year ended December 31, 2025 is related to success fee income. {7}------------------------------------------------ ## PELOTON SECURITIES, LLC NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 # Note 2 - Summary of Significant Accounting Policies (continued) #### Income Taxes As a result of the Company's organization as a limited liability company, federal and state taxation generally does not occur at the Company level, because the Company's taxable income or loss is allocated to its members, with the exception of taxes due to New Hampshire. Tax payments of \$11,500 for New Hampshire are recorded in the accompanying statement of operations for the year ended December 31, 2025. The Company believes it has appropriate support for income tax positions taken and to be taken on tax returns for all open tax years. The Company has evaluated the positions taken on its tax returns filed and the potential impact on its tax status as of December 31, 2025. The Company has concluded no uncertain income tax positions exist for the tax years 2024 and 2025. ## 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 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. ## Note 3 - Net Capital Requirements As a broker-dealer, the Company is subject to the net capital provisions of Rule 15c3-1 of the Securities and Exchange Commission (the Uniform Net Capital Rule). The Company computes its net capital under the aggregate indebtedness method which requires the Company to maintain minimal net capital, as defined, equal to or greater of 6.67% of aggregate indebtedness, as defined, or \$5,000. At December 31, 2025 the Company had net capital of \$45,310 which was in excess of its requirement of \$5,000 by \$40,310. ## Note 4 - Commitments and Contingent Liabilities The Company had no commitments, nor contingent liabilities and had not been named as a defendant in any lawsuit at December 31, 2025 or during the year then ended. {8}------------------------------------------------ ## PELOTON SECURITIES, LLC NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 ## Note 5 - Related Party Transactions The Company has an expense sharing agreement with a related entity under common control. Under this agreement, the related party provides rent, utilities, software and salaries. The Company is not required to repay these expenses. Total expenses under this agreement for the year ended December 31, 2025 were \$486,750 of which \$286,750 represented salaries and benefits, \$168,000 in rent and \$32,000 represented software cost reimbursement. There was no reimbursement for utilities. No amount was owed to this entity at December 31, 2025. Results of operations for the Company may not be indicative of the results that would have been realized if the Company was not working directly with the related entity. No amount is receivable from this related entity at December 31, 2025. ## Note 6 - Concentrations In 2025, 2 customers accounted for 100% of advisory fees. There were no accounts receivable from these customers as of December 31, 2025. # Note 7 - Segment Reporting The Company's investment banking segment derives revenues from customers for investment banking fees. The accounting policies are the same as those described in Note 1, Summary of Significant Accounting Policies. The chief operating decision maker assesses performance for the investment banking segment based on net income as reported on the income statement and segment assets as reported as total assets on the balance sheet. The chief operating decision maker uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into this segment or other areas, such as acquisitions or paying dividends. Net income is used to monitor, among other things, budget vs actual result, competitive analysis, and benchmarking. The Company has one reportable segment: investment banking fees as the primary source of its revenue. The Company's chief operating decision maker is the CEO & President. ## Note 8 - Subsequent Events Management has evaluated subsequent events through the date on which the financial statements were issued. There were no subsequent events that require adjustment or disclosure in the financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.