# EDGAR Filing Document

**Accession Number:** 0001563236
**File Stem:** 0001563236-26-000002
**Filing Date:** 2026-3
**Character Count:** 2427
**Document Hash:** ab9c9c4284f4adaf1c67b13582f30087
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001563236-26-000002.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0001563236-26-000002

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**EFFECTIVENESS DATE**: 20260331

**PERIOD START**: 20250101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** APPLIED CAPITAL, LLC
- **CENTRAL INDEX KEY:** 0001563236

**ORGANIZATION NAME:**
- **EIN:** 455442018
- **STATE OF INCORPORATION:** IN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-69199
- **FILM NUMBER:** 26818660

**BUSINESS ADDRESS:**
- **STREET 1:** ONE INDIANA SQUARE
- **STREET 2:** SUITE 2252
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204
- **BUSINESS PHONE:** 317 580-2588

**MAIL ADDRESS:**
- **STREET 1:** ONE INDIANA SQUARE
- **STREET 2:** SUITE 2252
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FNEX CAPITAL, LLC
- **DATE OF NAME CHANGE:** 20121128

### Attached PDF Documents

**Attachment 1:** `2.pdf`

_No text found in this document._

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

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001563236

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** Yes

### Submission Information

**Report Period Begin Date:** 01-01-2025

**Report Period End Date:** 12-31-2025

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** APPLIED CAPITAL, LLC

**Business Address:** ONE INDIANA SQUARE, SUITE 2252, INDIANAPOLIS, IN, 46204

**Contact Person:** Loren Heger

**Contact Phone:** 888.580.2588

### Independent Public Accountant Identification

**Accountant Name:** Crowe

**Accountant Address:** 225 West Wacker Drive, Chicago, IL, 60606

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Loren Heger**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **APPLIED CAPITAL, LLC**, as of **12-31-2025**, are true and correct.

**Signature:** Loren Heger

**Title:** CCO