Cycurion: TD Securities Reports 1.79M Warrants (5.4% Stake)

TD Securities (USA) LLC reported beneficial ownership of 1,790,845 shares of Cycurion, Inc. These shares are issuable upon the exercise of warrants that the filer states are presently exercisable at an exercise price of $11.50 per share.

Rhea-AI Filing Summary

TD Securities (USA) LLC reported beneficial ownership of 1,790,845 shares of Cycurion, Inc. These shares are issuable upon the exercise of warrants that the filer states are presently exercisable at an exercise price of $11.50 per share. The filing shows TD Securities has the sole power to vote and to dispose of these shares.

The 1,790,845 warrants represent 5.4% of the class on the basis disclosed in the filing, which uses 31,443,906 common shares deemed outstanding (as reported by the issuer) plus the warrants. The statement is jointly filed by related TD entities, which note an indirect ownership chain while disclaiming ownership except for pecuniary interest.

Positive

• 1,790,845 shares issuable upon exercise of warrants are reported as beneficially owned by TD Securities (USA) LLC
• The reported warrants are presently exercisable with an exercise price of $11.50 per share
• The position represents 5.4% of the class based on 31,443,906 shares deemed outstanding plus the warrants, as stated
• TD Securities has sole voting and dispositive power over the reported warrants/shares

Negative

• None.

Insights

Financial Analyst

TL;DR: TD Securities holds 1.79M exercisable warrants in Cycurion, equal to a 5.4% stake on the stated basis.

TD Securities' reported position consists solely of 1,790,845 shares issuable upon exercise of presently exercisable warrants with an $11.50 strike. The filing confirms sole voting and dispositive power over those shares, which is material because it gives the holder control over voting those potential shares. The percentage is calculated using 31,443,906 common shares deemed outstanding plus the warrants, as stated in the filing. The ownership is reported via a parent-subsidiary chain and is accompanied by standard disclaimers of indirect ownership by parent entities.

Corporate Governance Expert

TL;DR: The disclosure is a routine Rule 13G filing showing a significant warrant stake and a joint filing agreement among TD entities.

The filing presents a clear ownership and control picture: TD Securities exercises sole voting and dispositive power over the warrants and has executed a joint filing agreement with related TD entities. The parent entities disclose their ownership chain and disclaim direct ownership except for pecuniary interest, which is consistent with standard group disclosures. This is a disclosure of a material position but contains no statements about coordinated action or intent to influence control.

FAQ

How many Cycurion (CUSIP 95758L107) shares does TD Securities beneficially own?

TD Securities reports beneficial ownership of 1,790,845 shares of Cycurion issuable upon exercise of warrants.

What percentage of Cycurion's class does the 1,790,845 represent?

The filing states the reported position represents 5.4% of the class, based on 31,443,906 shares deemed outstanding plus the warrants.

Are the warrants exercisable and at what price?

Yes, the filing states the warrants are presently exercisable with an exercise price of $11.50 per share.

Who filed the Schedule 13G for Cycurion, Inc.?

The Schedule 13G is filed by TD Securities (USA) LLC, jointly with Toronto Dominion Holdings (USA) Inc., TD Group US Holdings LLC and Toronto Dominion Bank.

Does TD Securities have voting or dispositive power over the reported shares?

Yes, the filing states TD Securities has sole power to vote and sole power to dispose of the reported shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/12/2025 - 11:20 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cycurion, Inc.

(Name of Issuer)

Common stock, par value $0.0001 per share

(Title of Class of Securities)

95758L107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 95758L107

1

Names of Reporting Persons

TD SECURITIES (USA) LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,790,845.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,790,845.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,790,845.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: The beneficial ownership of the Reporting Person is comprised solely of 1,790,845 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by the Reporting Person (the "Warrants"). The percentage above is based on (i) 31,443,906 shares of Common Stock deemed outstanding as reported by the Issuer in its quarterly report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on June 6, 2025, plus (ii) the Warrants.

SCHEDULE 13G

CUSIP No. 95758L107

1

Names of Reporting Persons

Toronto Dominion Holdings (USA) Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 95758L107

1

Names of Reporting Persons

TD Group US Holdings LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 95758L107

1

Names of Reporting Persons

Toronto Dominion Bank

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cycurion, Inc.
(b)	Address of issuer's principal executive offices: 1640 BORO PLACE, FOURTH FLOOR, MCLEAN, VIRGINIA 10004
Item 2.
(a)	Name of person filing: TD SECURITIES (USA) LLC Toronto Dominion Holdings (USA) Inc. TD Group US Holdings LLC Toronto Dominion Bank
(b)	Address or principal business office or, if none, residence: ONE VANDERBILT AVENUE NEW YORK, New York 10017 The address of TD Securities (USA) LLC's ("TDS") principal office and Toronto Dominion Holdings (U.S.A.), Inc.'s ("TDH") principal office is One Vanderbilt Avenue, New York, New York 10017. The address of TD Group US Holdings LLC's ("TD GUS") principal office is 251 Little Falls Drive, Wellington, Delaware 19808. The address of Toronto Dominion Bank's ("TD Bank") principal office is Toronto-Dominion Centre, 66 Wellington Street West, 12th Floor, TD Tower, Toronto, Ontario, Canada M5K 1A2.
(c)	Citizenship: TD SECURITIES (USA) LLC - DELAWARE Toronto Dominion Holdings (USA) Inc. - DELAWARE TD Group US Holdings LLC - DELAWARE Toronto Dominion Bank - CANADA (FEDERAL LEVEL)
(d)	Title of class of securities: Common stock, par value $0.0001 per share
(e)	CUSIP No.: 95758L107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Bank
Item 4.	Ownership
(a)	Amount beneficially owned: 1,790,845 TDS has the sole power to vote or direct the vote and the sole power to dispose or direct the disposition of these shares. The beneficial ownership of the Reporting Person is comprised solely of 1,790,845 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by the Reporting Person (the "Warrants"). The Warrants held by the Reporting Person have an exercise price of $11.50 per share of Common Stock and are presently exercisable. The percentage above is based on (i) 31,443,906 shares of Common Stock deemed outstanding as reported by the Issuer in its quarterly report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on June 6, 2025, plus (ii) the Warrants. This schedule is jointly filed by TDS, TDH, TD GUS and TD Bank. TDH is the sole owner of TDS. TD GUS is the sole owner of TDH. TD Bank is the sole owner of TD GUS. TDH, TD GUS and TD Bank may be deemed to hold an indirect interest in the shares reported herein by virtue of their ownership of TDS. Each of TDH, TD GUS and TD Bank disclaims ownership of the shares reported herein except to the extent of its pecuniary interest therein. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
(b)	Percent of class: 5.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: TD SECURITIES (USA) LLC - 1,790,845 Toronto Dominion Holdings (USA) Inc. - 0 TD Group US Holdings LLC - 0 Toronto Dominion Bank - 0
	(ii) Shared power to vote or to direct the vote: TD SECURITIES (USA) LLC - 0 Toronto Dominion Holdings (USA) Inc. - 0 TD Group US Holdings LLC - 0 Toronto Dominion Bank - 0
	(iii) Sole power to dispose or to direct the disposition of: TD SECURITIES (USA) LLC - 1,790,845 Toronto Dominion Holdings (USA) Inc. - 0 TD Group US Holdings LLC - 0 Toronto Dominion Bank - 0
	(iv) Shared power to dispose or to direct the disposition of: TD SECURITIES (USA) LLC - 0 Toronto Dominion Holdings (USA) Inc. - 0 TD Group US Holdings LLC - 0 Toronto Dominion Bank - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. TD Securities (USA) LLC
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TD SECURITIES (USA) LLC

Signature:	Christina Petrou
Name/Title:	Christina Petrou / Executive Vice President & Chief Operating Officer
Date:	08/12/2025

Toronto Dominion Holdings (USA) Inc.

Signature:	Christina Petrou
Name/Title:	Christina Petrou / Executive Vice President & Chief Operating Officer
Date:	08/12/2025

TD Group US Holdings LLC

Signature:	Salma Salman
Name/Title:	Salma Salman / Senior Vice President & Chief Financial Officer
Date:	08/12/2025

Toronto Dominion Bank

Signature:	Christina Petrou
Name/Title:	Christina Petrou / Executive Vice President & Chief Operating Officer
Date:	08/12/2025

Exhibit Information

Exhibit I JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the common stock of Cycurion, Inc. will be filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Dated: August 12, 2025 TD SECURITIES (USA) LLC By: /s/ Christina Petrou Title: Executive Vice President & Chief Operating Officer TORONTO DOMINION HOLDINGS (USA), INC. By: /s/ Christina Petrou Title: Executive Vice President & Chief Operating Officer TD GROUP US HOLDINGS LLC By: /s/ Salma Salman Title: Senior Vice President & Chief Financial Officer THE TORONTO-DOMINION BANK By: /s/ Christina Petrou Title: Executive Vice President & Chief Operating Officer