# EDGAR Filing Document

**Accession Number:** 0001733756
**File Stem:** 0001733756-26-000003
**Filing Date:** 2026-1
**Character Count:** 14038
**Document Hash:** 98e457f4bb50c552bc9a7e0ec36b6574
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001733756-26-000003.hdr.sgml**: 20260205

**ACCESSION NUMBER**: 0001733756-26-000003

**CONFORMED SUBMISSION TYPE**: MA-A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260108

**DATE AS OF CHANGE**: 20260205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Masterson Advisors LLC
- **CENTRAL INDEX KEY:** 0001733756

**ORGANIZATION NAME:**
- **EIN:** 824640889
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** MA-A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-02338
- **FILM NUMBER:** 26601967

**BUSINESS ADDRESS:**
- **STREET 1:** 3 GREENWAY PLAZA
- **STREET 2:** SUITE 1100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046
- **BUSINESS PHONE:** 713-814-0550

**MAIL ADDRESS:**
- **STREET 1:** 3 GREENWAY PLAZA
- **STREET 2:** SUITE 1100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77046

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0001733756

**Filer CCC:** XXXXXXXX

**Contact Name:** Ted Vogtman

**Contact Phone:** 973-618-9509

**Contact Email:** tvogtman@alternativereg.com

**Notification Emails:** tvogtman@alternativereg.com, Anthea.Moran@MastersonAdvisors.com

### Type of Filing

**Selected Filing Type:** Annual Update

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** Masterson Advisors LLC

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**B. Doing-Business-As (DBA) Name:** Masterson Advisors

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 82-4640889

**D. Registrations:**

- **Municipal Advisor:** SEC File No: 867-02338

**E. Principal Office and Place of Business:** 3 Greenway Plaza, Suite 1100, HOUSTON, TX, 77046

**Telephone Number:** 713-814-0550

**Additional Offices of Employment:**

- **Office #1 (Add):** 3102 Maple Avenue, Suite 225, Dallas, TX, 75201 | Phone: 214-953-9353

- **Office #2 (Add):**  | Phone: 917-545-2864

- **Office #3 (Add):** 225 Franklin Street, Floor 26, Boston, MA, 02110 | Phone: 646-483-4941

- **Office #4 (Amend):**  | Phone: 713-814-0568

**Mailing Address is Different from Principal Office:** No

**F. Website:** www.mastersonadvisors.com

**G. Chief Compliance Officer (CCO):**

**Name:** Anthea Wills Moran

**Titles:** CCO / Managing Director

**Address:** 3 Greenway Plaza, Suite 1100, HOUSTON, TX, 77046

**Phone Number:** 713-814-0550

**Email:** Anthea.Moran@MastersonAdvisors.com

**H. Business Affiliates:**

- **Name:** Masterson Advisors Management, Inc.

**I. Location of Books and Records:** Yes

### Item 2: Form of Organization

**A. Applicant's form of organization:** Limited Liability Company (LLC)

**B. Month of Applicant's Annual Fiscal Year End:** December

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** TX

**D. Date of Organization:** 03-01-2018

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 31

**B. Municipal Advisory Activities - Employees:** 28

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 0

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 0

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 500

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities, Non-profit organizations, Corporations or other businesses

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Hourly Charges
Fixed Fees
Contingent Fees
Other
, Hourly Charges, Fixed Fees, Contingent Fees, Other

**J. Compensation Arrangements (Solicitation):** 
Not Applicable
, Not Applicable

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Insurance Of MS, Advice Investment Of Proceeds MS, Advice ME Investments, Advice ME Other Investments, Advice Guaranteed IC, Advice Use Of MD, Advice On Selection, Other

### Item 5: Other Business Activities

**Is applicant engaged in any other non-municipal advisor business?** Yes

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** 

**Total Associated Persons:** 0

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** No

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** No

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** No

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** No

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** No

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** No

- **Recommend broker-dealers to clients?:** Yes

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** No

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** No

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** No

- **SEC/CFTC Imposed Civil Penalty?:** No

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** No

- **SRO Found Cause of Denial/Suspension?:** No

- **SRO Barred/Suspended/Fined > $2,500?:** No

- **SRO Denied/Suspended/Revoked Registration?:** No

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** No

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** No

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** No

### Schedule A: Direct Owners and Executive Officers

| Name                     | Title/Status                | Date Acquired   | Ownership Code            | Control Person?   |   CRD Number |
|:---|:---|:---|:---|:---|---:|
| Drew Kennedy Masterson   | CEO / Managing Director     | 03-01-2018      | B - 10% but less than 25% | Yes               |      1421404 |
| Anthea Wills Moran       | CCO / Managing Director     | 01-01-2019      | A - 5% but less than 10%  | Yes               |      2862505 |
| Julie Jo Peak            | President/Managing Director | 04-13-2018      | B - 10% but less than 25% | Yes               |      1104486 |
| Deborah Lynch Shelton    | Managing Director           | 04-13-2018      | A - 5% but less than 10%  | No                |      4605114 |
| Warren Pinckney Cash     | CFO / Managing Director     | 09-04-2018      | A - 5% but less than 10%  | Yes               |      4510223 |
| Gregory Thomas Lentz     | Managing Director           | 04-13-2018      | NA - less than 5%         | No                |      5548814 |
| Christine Crotwell Lukin | Managing Director           | 04-13-2018      | NA - less than 5%         | No                |      5061072 |
| Tina Arias Peterman      | Managing Director           | 09-09-2018      | NA - less than 5%         | Yes               |      2690359 |
| Jonathan Scott Church    | Director                    | 04-13-2018      | NA - less than 5%         | No                |      6015140 |
| Kristin Garcia Blomquist | Senior Vice President       | 04-03-2018      | NA - less than 5%         | No                |      5670721 |
| Spencer Craig Day        | Senior Vice President       | 09-04-2018      | NA - less than 5%         | No                |      5667891 |
| David Robert Brayshaw    | Managing Director           | 11-05-2018      | NA - less than 5%         | No                |      2226869 |
| Steven Jay Kantor        | Managing Director           | 01-01-2023      | NA - less than 5%         | No                |      4780468 |
| Kayla MacEwen Sanford    | Managing Director           | 03-01-2023      | NA - less than 5%         | No                |      5357979 |
| Chase Elizabeth Eastland | Vice President              | 01-01-2023      | NA - less than 5%         | No                |      6668575 |
| Jennifer Harris Arndt    | Director                    | 01-01-2025      | NA - less than 5%         | No                |      5357874 |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity   | Name                     | Title/Status                | Date Acquired   | Ownership Code            | Control Person?   |   CRD Number |
|:---|:---|:---|:---|:---|:---|:---|:---|---:|
|  | Direct      |  | Drew Kennedy Masterson   | CEO / Managing Director     | 03-01-2018      | B - 10% but less than 25% | Yes               |      1421404 |
| Amend  | Direct      |  | Anthea Wills Moran       | CCO / Managing Director     | 01-01-2019      | B - 10% but less than 25% | Yes               |      2862505 |
|  | Direct      |  | Julie Jo Peak            | President/Managing Director | 04-13-2018      | B - 10% but less than 25% | Yes               |      1104486 |
| Amend  | Direct      |  | Deborah Lynch Shelton    | Managing Director           | 04-13-2018      | B - 10% but less than 25% | No                |      4605114 |
| Delete | Direct      |  | Warren Pinckney Cash     | CFO / Managing Director     | 09-04-2018      | A - 5% but less than 10%  | Yes               |      4510223 |
|  | Direct      |  | Gregory Thomas Lentz     | Managing Director           | 04-13-2018      | NA - less than 5%         | No                |      5548814 |
|  | Direct      |  | Christine Crotwell Lukin | Managing Director           | 04-13-2018      | NA - less than 5%         | No                |      5061072 |
|  | Direct      |  | Tina Arias Peterman      | Managing Director           | 09-09-2018      | NA - less than 5%         | Yes               |      2690359 |
|  | Direct      |  | Jonathan Scott Church    | Director                    | 04-13-2018      | NA - less than 5%         | No                |      6015140 |
|  | Direct      |  | Kristin Garcia Blomquist | Senior Vice President       | 04-03-2018      | NA - less than 5%         | No                |      5670721 |
|  | Direct      |  | Spencer Craig Day        | Senior Vice President       | 09-04-2018      | NA - less than 5%         | No                |      5667891 |
|  | Direct      |  | David Robert Brayshaw    | Managing Director           | 11-05-2018      | NA - less than 5%         | No                |      2226869 |
| Delete | Direct      |  | Steven Jay Kantor        | Managing Director           | 01-01-2023      | NA - less than 5%         | No                |      4780468 |
|  | Direct      |  | Kayla MacEwen Sanford    | Managing Director           | 03-01-2023      | NA - less than 5%         | No                |      5357979 |
|  | Direct      |  | Chase Elizabeth Eastland | Vice President              | 01-01-2023      | NA - less than 5%         | No                |      6668575 |
|  | Direct      |  | Jennifer Harris Arndt    | Director                    | 01-01-2025      | NA - less than 5%         | No                |      5357874 |
| NewAdd | Direct      |  | John Herbert Barganski   | Managing Director           | 01-01-2026      | NA - less than 5%         | No                |      4341576 |

### Execution Page

**Signature:** Drew Kennedy Masterson

**Signer Name:** Drew Kennedy Masterson

**Title:** CEO / Managing Director

**Date:** 01-08-2026

**CRD Number:** 1421404