# ALTO SECURITIES, LLC X-17A-5 (2026-03-30) — Broker-dealer annual report - Company: ALTO SECURITIES, LLC - Form: X-17A-5 - Filed: 2026-03-30 - Period: 2025-12-31 - Accession: 0001905657-26-000003 - CIK: 1905657 - File #: 8-70863 - Type: Broker-dealer - Material weakness: No - Auditor: David Lundgren & Co - Auditor location: Olathe, KS - Contact: Dominic Miele - Phone: 646-241-4610 - Email: dmiele@altoira.com - Website: altoira.com - Signed by: Domenic Miele (Chief Compliance Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1905657/000190565726000003/altopublicaudit.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 8-70863 | | 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 | | AND ENDING 12/31/25 | |------------------------------------------|-----------------|---------------------| | | BAR A CALL COLL | BAR A FREE A 12 1 | MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: Alto Securities LLC TYPE OF REGISTRANT (check all applicable boxes): ■ Broker-dealer □ 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.) ## 500 11th Ave N, Suite 790 | | (No. and Street) | | | |--------------------------------------------------|----------------------------------------------------------------------------------------------|-----------------|--------------------------------------------| | Nashville | TN | | 37203 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Domenic Miele | 646-241-4610 | | dmiele@altoira.com | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | David Lundgren & Co | (Name - if individual, state last, first, and middle name) | | | | 505 N Murlen Rd | Olathe | KS | 66062 | | (Address) | (City) | (State) | (Zip Code) | | 01/05/2015 | | 6075 | | | (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 | Domenic Miele | swear (or affirm) that, to the best of my knowledge and belief, the | | |----------------------------------------------------------------|---------------------------------------------------------------------|-------| | financial report pertaining to the firm of Alto Securities LLC | | as of | 1 2/31 , 2 025 partner, officer, director, or equivalent person, as the case may proprietary interest in any account classified solely as that of a customer. Signature: Jomenic Miele Title: Chief Compliance Officer 1XQP62R8-4ZW9X2YQ 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 240.15c3-3. - □ (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 capible 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. - | - □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | - □ (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. - | 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(e)(2), as applicable. {2}------------------------------------------------ ## Alto Securities LLC Financial Statement December 31, 2025 {3}------------------------------------------------ ## Alto Securities LLC TABLE OF CONTENTS December 31, 2025 | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-----| | Financial Statement | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3-5 | {4}------------------------------------------------ DAVID B. LUNDGREN, MBA, CPA Telephone (913) 782-9530 FACSIMILE (913) 782-9564 ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Member of Alto Securities LLC #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Alto 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, in all material respects, the financial position of Alto 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 Alto Securities LLC's management. Our responsibility is to express an opinion on Alto 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 Alto 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 Alto Securities LLC's auditor since 2023. Olathe, Kansas March 30, 2026 {5}------------------------------------------------ ## Alto Securities LLC Statement of Financial Condition December 31, 2025 | Assets | | | |---------------------------------------|--------|-----------| | Cash | S | 842,842 | | Account receivable | | 113,260 | | Prepaid expense | | 54,040 | | Total assets | S | 1,010,142 | | Liabilities and Member's Equity | | | | Liabilities: | | | | Due to affiliates | સ્ત્ર | 20,965 | | Accrued commission | ಕಾ | 30,474 | | Total liabilities | સ્ત્ર | 51,439 | | Member's Equity | | 958,703 | | Total liabilities and member's equity | સ્ત્રે | 1,010,142 | The accompanying notes are an integral part of this financial statement 2 {6}------------------------------------------------ ## Alto Securities LLC Notes to Financial Statement December 31, 2025 #### 1. Description of Business and Summary of Significant Accounting Policies #### Description of Business Alto Securities, LLC ("Alto Securities" or "the Company"), a wholly owned subsidiary of Alto Solutions, Inc. Inc. (the "Parent"), was incorporated in September 2019 as a Delaware corporation. The Company is a private placement broker-dealer firm registered with the Securities and Exchange Commission (SEC) and securities regulatory commissions in all 50 states. The Company is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). #### Basis of Presentation The accompanying financial statement has been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include the results of Alto Securities, LLC. #### Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses during the reporting period. Actual amounts and results could differ from these estimates. #### Concentration of Credit Risk and Significant Customers Our financial instruments that are exposed to concentrations of credit risk consist primarily of trade and other receivables. The Company had \$113,260 of outstanding accounts receivable balance as of December 31, 2025. 10 customers accounted for total revenues during fiscal year 2025. Two companies made up 67% of the Company's total revenues. #### Revenue Recognition We derive our revenue from Placement Agent fees. In accordance with Topic 606, we recognize revenue when control of the service is transferred to our customers, in the amount that reflects the breakdown of the services we have provided. We determine revenue recognition based on the following steps: - 1. Identify the contract with the customer - 2. Identify the performance obligations - 3. Determine the transaction price - 4. Allocate the transaction price to the performance obligations - 5. Recognize revenue once the performance obligation has been satisfied The revenue recognition principles, payment terms, and details for Placement Agent Fees are outlined below as a "sponsor deal". The naming distinction refers to the management structure of the funding. Sponsor deals receive placement fees generally as a percentage of equity raised on the Alto Marketplace Platform in conjunction with the funding of an offering. #### Sponsor Managed Deals This revenue is earned from equity raised from a Sponsor Deal on the Alto Marketplace Platform. Revenue is recognized at each close. A close can be on a monthly basis or at the offering period. Total revenue recognized from Sponsor Managed Deals in 2025 was \$528,723. {7}------------------------------------------------ ### Alto Securities LLC Notes to Financial Statement December 31, 2025 #### 1. Description of Business and Summary of Significant Accounting Policies (Continued) #### Sponsor Managed Deals (Continued) The Company considers the risk of significant reversal mitigated upon close as funds are immediately sent to the offering is either completed or substantially completed enough to begin operations. In addition, there is no historical evidence of Sponsor Deals canceling and funds being returned to customers after close. Invoices from Alto to the sponsor are dated as of the closing date. Payment is generally received from the sponsor within 30 days of the close. #### Cash and Cash Equivalents Cash consists of cash held in deposit accounts at financial institutions. The Company had no outstanding cash equivalents as of December 31, 2025. The Company defines cash equivalents as highly liquid investments with initial maturities of three months or less, that are not used for trading purposes. #### Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable is recorded and carried at the original invoiced amount. Amounts are not invoiced until the offering close date depending upon the deal type. The Company's allowance for doubtful accounts are based on our historical experience, the aging of these receivables, and management. The Company had accounts receivable of \$113,260 as of December 31, 2025 and there was no allowance for doubtful accounts. #### Income Taxes Alto Securities, LLC is a single member limited liability company, which is disregarded for income tax purposes, and its operating results are allocated to the Parent. No provision or liability for income taxes has been included in this financial statement. #### Segment Reporting The Company follows ASC 280, Segment Reporting (including adoption of ASU 2023-07), which requires companies to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance. The Company conducts its business activities and results as a single reportable segment, brokerage services segment. Using the management approach, qualitative and quantitative criteria established by ASC 280, the Company has determined it has a single reportable segment. The Chief Operating Decision Maker ("CODM") makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates their financial results, using net income that is also reported on the income. There are no reconciling items to the income statement. The measurement of segment assets is reported on the balance sheet as total assets. The CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the brokerage services segment or into other parts of the entity, such as to pay distributions to the Parent. The Company's CODM is the CEO. The nature of business and accounting policies of the brokerage services segment are the same as described in the organization and nature of business and summary of significant accounting policies. #### Accounting Pronouncements Pending Adoption Recent authoritative guidance issued by the FASB, the American Institute of Certified Public Accountants, and Exchange Commission ("SEC") did not or is not expected to have a material impact on our financial statement. {8}------------------------------------------------ ## Alto Securities LLC Notes to Financial Statement December 31, 2025 #### 2. Net Capital Requirement The Company is subject to the SEC's Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, should not exceed 8 to 1 in the first year of operations and 15 to 1 in subsequent years. The Company is a member of the FINRA and is subject to the SEC Uniform Net Capital Rule 15c3-1. This Rule requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. Net capital and the related net capital ratio may fluctuate on a daily basis. At December 31, 2025, the Company had net capital of \$791,404 which was \$786,404 in excess of its required net capital of the higher of \$5,000 or 6.67% of aggregate indebtedness. The Company's percentage of aggregate indebtedness to net capital was 6.50%. #### 3. Related Party Transactions The Company has an Expense Sharing Agreement ("ESA") with the Parent provides personnel, transaction support, accounting, legal, compliance, office facilities, and related services to the Company, as needed. Both the Company and the Parent consider the basis on which the expenses are allocated to be a reasonable reflection of services provided to the Company during the year. During the year, \$480,568 expenses were allocated to the Company from the expense sharing agreement. Allocated expenses are classified on the statement of operations. General and administrative expenses related to professional licenses, membership dues & subscriptions, bank charges, and mailing services and totaled \$30,804. All broker/dealer representatives are considered independent contractors of Alto Securities, LLC. The amount due back to the Parent as of December 31, 2025 is \$20,964. Other income of \$20,000 consisted of administration fees billed on a monthly basis to Alto Solutions, Inc. in the amount of \$4,000 from August 2025 to December 2025. The Parent capital contributions for the period is \$340,000 #### 4. Commitments and Contingencies #### Litigation Currently, there are not any material pendings to which the Company is a party or of which the Company is aware. In the normal course of business, the Company may be subject to claims and litigation. However, while the outcome of any such claim is unpredictable, the Company believes that the ultimate resolution of any such matter(s) will not, individually or in the aggregate, result in a material impact on its Balance Sheet. #### 5. Subsequent Events The Company has evaluated subsequent events from the date of this financial statement on December 31, 2025, through the date this financial statement was available to be issued. No material changes have impacted the Company since December 31, 2025. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.