# NEWMARK SECURITIES, LLC X-17A-5 (2026-03-02) — Broker-dealer annual report - Company: NEWMARK SECURITIES, LLC - Form: X-17A-5 - Filed: 2026-03-02 - Period: 2025-12-31 - Accession: 0001818003-26-000001 - CIK: 1818003 - File #: 8-70554 - Type: Broker-dealer - Material weakness: No - Auditor: Ernst & Young LLP - Auditor location: New York, NY - Contact: Alexandra Luehs - Phone: 2128294950 - Email: kpaulson@cantor.com - Website: cantor.com - Signed by: Kenneth Paulson (Chief Financial Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1818003/000181800326000001/NewmarkSecBSCut.pdf --- {0}------------------------------------------------ # NEWMARK # NEWMARK SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION NEWMARK SECURITIES, LLC December 31, 2025 With Report of Independent Registered Public Accounting Firm {1}------------------------------------------------ # UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL OMB Approval OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 SEC FILE NUMBER 8-70554 # REPORTS FORM X-17A-5 PART III ## 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 | 01/01/25
MM/DD/YY | AND ENDING | 12/31/25
MM/DD/YY | | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|---------------------------------------------|----------------------|--|--| | A. REGISTRANT IDENTIFICATION | | | | | | | NAME OF FIRM: Newmark Securities, LLC. | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
_ Security-based swap dealer
L Check here if respondent is also an OTC derivatives dealer | | _ Major security-based swap participant | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)
125 PARK AVENUE | | | | | | | | (No. and Street) | | | | | | New York | New York | | 10017 | | | | (City) | (State) | | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Kenneth Paulson | 212-294-7922 | | KPaulson@cantor.com | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Ernst & Young LLP | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | One Manhattan West, 401 9th Avenue | New York | New York | 10001 | | | | (Address) | (City) | (State) | (Zip Code) | | | | 10/20/2003 | | | 42 | | | | (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. {2}------------------------------------------------ ### **AFFIRMATION** I, Kenneth Paulson, affirm that, to the best of my knowledge and belief, the accompanying statement of financial condition pertaining to Newmark Securities, LLC (the "Company"), as of December 31, 2025, is true and correct. I further 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. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Kenneth Paulson Chief Financial Officer {3}------------------------------------------------ #### This filing\*\* contains (check all applicable boxes): 2 Statement of Financial Condition. 2 Notes to Statement of Financial Condition. □ Statement of Operations. □ Statement of Cash Flows. C Statement of Changes in Members' Interest. □ Statement of Changes in Subordinated Borrowings. □ Notes to Financial Statements. [ Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. □ Computation of tangible net worth under 17 CFR 240.18a-2. | Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. □ 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. L Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. I Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | 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 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. = Summary of financial data for subsidiaries not consolidated in the statement of financial condition. 2 Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. □ Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. I Independent public accountant's report based on an examination of the statement of financial condition. □ 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. I 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. 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. | Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. L 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). ■ Other: □ A copy of the SIPC Supplemental Report. | Statement of Cleared Swaps Customer Segregation Requirements and Funds in Cleared Swaps Customer Accounts Under 4D(F) of the Commodity Exchange Act. Schedule of Segregation Requirements and Funds in Segregation for Customers Trading on U.S. Commodity Exchanges. L Computation of CFTC Minimum Net Capital Requirement. L Schedule of Segregation Requirements and Funds in Segregation for Customers' Dealer Options Accounts. D Statement of Secured Amounts and Funds Held in Separate Accounts for Foreign Futures and Foreign Options Customers Pursuant to Commission Regulation 30.7. L Supplementary Report of Independent Registered Public Accounting Firm on Internal Control Required by CFTC Regulation 1.16. \*\* 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. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### Report of Independent Registered Public Accounting Firm To the Member and Officers of Newmark Securities, LLC #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Newmark Securities, LLC (the Company) as of December 31, 2025 and the related notes (the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company at December 31, 2025, in conformity with U.S. generally accepted accounting principles. #### 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 financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2021. March 2, 2026 {5}------------------------------------------------ #### "0B8,=6&0.@=4?40> &?,?0809?:149,9.4,7:9/4?4:9 0.08-0= *-(\$).,( ,* | ,, -, | | |-----------------------------------------------------------------------|----------| | ,>3,9/.,>30<@4A,709?> |

| | #?30=,>>0?> |
| | ':?,7,>>0?> |

| | \$\$%\$-\$ ,' & +
,'- + ,-
:@9?>;,D,-70,=@0/,9/:?30=74,-474?40> |

| | \$,D,-70>?:=07,?0/;,=?40> |
| | ':?,774,-474?40> |
| | !08-0=>49?0=0>? |
| | ':?,7808-0=>49?0=0>? |
| | ':?,774,-474?40>,9/808-0=>49?0=0>? |

| *!!()-!,-),--!'!(-)""%((%&)( %-%)(* {6}------------------------------------------------ # Newmark Securities, LLC Notes to Statement of Financial Condition December 31, 2025 (In Thousands) # 1. General and Summary of Significant Accounting Policies Description of Business - Newmark Securities, LLC (the "Company"), a Delaware Limited Liability Company, is a wholly owned subsidiary of Newmark Partners, L.P. (the "Partnership"), and an indirect subsidiary of Newmark Group, Inc. (collectively with its affiliates "Newmark"), which is controlled by Cantor Fitzgerald, L.P. (collectively with its affiliates "Cantor"). The Company is a registered broker-dealer with the Securities and Exchange Commission ("SEC"), and a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). The Company provides real estate related advisory services to institutional clients. The Company's activity is limited to acting as agent on real estate related transactions and collecting advisory and success fees, primarily for private equity and private debt securities. The Company does not handle any customer funds or securities. Basis of Presentation - The statement of financial condition is prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Use of Estimates - Management makes estimates and assumptions that affect the reported amounts of the assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Management believes that the estimates utilized in preparing the statement of financial condition are reasonable. Estimates, by their nature, are based on judgment and available information. As such, actual results could differ materially from the estimates included in the statement of financial condition. Cash and Cash Equivalents - The Company considers all highly liquid investments with maturity dates of 90 days or less at the date of acquisition to be cash equivalents. Income Taxes - The Company is a single-member limited liability company that is treated as a disregarded entity for U.S tax purposes and is ultimately wholly owned by Newmark. Newmark is taxed as a U.S. partnership and is subject to the Unincorporated Business Tax in New York City and Pass-Through Entity Tax in Connecticut. The income or loss attributable to the Company's operations is passed through to Newmark for tax purposes. The Company has not elected to push down and allocate current and deferred tax expense from the Partnership, and therefore no provision for income tax is required to be included in the Company's Statement of Financial Condition, in accordance with the requirements of Accounting Standards Codification ("ASC") 740, Income Taxes. Segment Information - The Company currently operates in one reportable segment, real estate services. See Note 5 - Segment Information. {7}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{8}------------------------------------------------ # Newmark Securities, LLC Notes to Statement of Financial Condition (continued) December 31, 2025 (In Thousands) # 1. General and Summary of Significant Accounting Policies (continued) sheet date will remain unchanged for the remaining life of the asset when developing a reasonable and supportable forecast as part of estimating expected credit losses on these assets. The new quidance can be adopted by the Company beqinning on January 1, 2026, using a prospective method, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company's statement of financial condition. In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements. The guidance clarifies, corrects errors in or makes other improvements to a variety of topics in the Codification that are intended to make it easier to understand and apply. The amendments apply to all reporting entities in the scope of the affected accounting guidance. The new guidance will become effective for the Company beginning on January 1, 2027, can be adopted using either a prospective or retrospective method, and early adoption is permitted. Management is currently evaluating the impact of the new standard on the Company's statement of financial condition. # 2. Commitments and Contingencies Legal Matters - In the ordinary course of business, various legal actions are brought and may be pending against the Company. The Company is also involved, from time to time, in other reviews, investigations and proceedings by governmental and selfregulatory agencies (both formal and informal) regarding the Company's business. Any of such actions may result in judgments, settlements, fines, penalties, injunctions or other relief. As of December 31, 2025, no such claims or actions have been brought against the Company and therefore no reserves were recognized. Leqal reserves are established in accordance with the quidance in ASC 450, Contingencies, when a material leqal liability is both probable and reasonably estimable. Once established, legal reserves are adjusted when additional information becomes available or when an event occurs requiring a change. # 3. Related Party Transactions Cantor and Newmark provide the Company with administrative services and other support for which they charge the Company based on the cost of providing such services. Such support includes allocations for utilization of overheads and fixed assets, accounting, treasury, operations, human resources, legal and regulatory, audit, and technology services. For the year ended December 31, 2025, the Company was charged for such services and the unpaid balances are included in Payables to related parties in the Company's statement of financial condition. {9}------------------------------------------------ # Newmark Securities, LLC Notes to Statement of Financial Condition (continued) December 31, 2025 (In Thousands) # 3. Related Party Transactions (continued) The Company incurred costs related to employees of Newmark who provided advisory services on real estate transactions throughout the year. For the year ended December 31, 2025, the unpaid balances related to these costs were \$1,999 and are included in Payables to related parties in the Company's statement of financial condition. # 4. Regulatory Requirements As a registered broker-dealer, the Company is subject to the SEC's Uniform Net Capital Rule ("Rule 15c3-1"). The Company has elected to compute its net capital using the basic method, which requires the maintenance of minimum net capital equal to the greater of \$5 or 6-2/3% of aggregate indebtedness. At December 31, 2025, the Company had net capital of \$3,290, which was \$3,145 in excess of its required net capital. # 5. Segment Information The Company offers its services in the United States. The Company's operations consist of one reportable segment, real estate services, because the Company is managed on a consolidated basis. The primary activities of the Company's real estate services segment include acting as agent on real estate related transactions and collecting advisory and success fees, primarily for private equity and private debt securities. As of December 31, 2025, the Company has identified Newmark's Chief Executive Officer as its chief operating decision maker ("CODM") who uses revenue and net income to evaluate the results of the business. Net Income is the measure of segment profit most consistent with U.S. GAAP that is regularly reviewed by the CODM. The CODM also uses revenue to allocate resources and compensation. As of December 31, 2025, the Company had total assets of \$5,486. See the Company's statement of financial condition for additional information. # 6. Subsequent Events The Company has evaluated subsequent events through the date the statement of financial condition was issued. There have been no material subsequent events that would require recognition in the statement of financial condition or disclosure in the notes to statement of financial condition. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.