Inter & Co, Inc. Schedule 13G/A amendment: reporting persons Squadra Investments - Gestao de Recursos Ltda., related entity Squadra Investimentos, and Guilherme Mexias Ache state shared voting power of 28,175,700 and shared dispositive power of 32,806,391 with respect to Class A Common Shares as of May 20, 2026. The filing reports that the 32,806,391 shares represent 10.1% of the class and notes that the Investment Managers and Mr. Ache "may be deemed to beneficially own" the securities under applicable rules, while each Reporting Person disclaims beneficial ownership. Signatures for the amendment are dated 05/26/2026.
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Insights
13G/A shows >10% position reported as shared control, with a disclaimer of beneficial ownership.
The amendment lists shared voting power 28,175,700 and shared dispositive power 32,806,391, representing 10.1% of Class A Common Shares as of May 20, 2026. It states that the Investment Managers exercise voting and dispositive authority for fund-held shares and that Mr. Ache controls those managers.
Disclosure preserves neutrality: the Reporting Persons note they "may be deemed to beneficially own" under the rules but expressly disclaim beneficial ownership. Subsequent filings or issuer disclosures would be required to change the public ownership picture.
Key Figures
Shared voting power:28,175,700 sharesShared dispositive power:32,806,391 sharesPercent of class:10.1%
3 metrics
Shared voting power28,175,700 sharesreported as of May 20, 2026
Shared dispositive power32,806,391 sharesreported as of May 20, 2026
Percent of class10.1%calculated as of May 20, 2026
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
shared dispositive powerfinancial
"Shared Dispositive Power 32,806,391.00"
disclaims beneficial ownershipregulatory
"Each Reporting Person hereby disclaims beneficial ownership"
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SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA (the "US Investment Manager");
SQUADRA INVESTIMENTOS - GESTAO DE RECURSOS LTDA (the "Brazil Investment Manager");
Mr. GUILHERME MEXIAS ACHE ("Mr. Ache" and collectively, the "Reporting Persons")
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is
Av Borges de Medeiros 633/704
Leblon Rio de Janeiro RJ 22430-041 Brazil
(c)
Citizenship:
Brazil
(d)
Title of class of securities:
Class A Common Shares
(e)
CUSIP No.:
G4R20B107
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).
Investment adviser registered with the Securities and Exchange Commission of Brazil
Item 4.
Ownership
(a)
Amount beneficially owned:
The percentages used herein and in the rest of this Schedule 13G/A are calculated based upon the number shares of Common Stock issued and outstanding as of May 20, 2026 as reflected on the Issuer's publicly accessible website and reflect the ownership of the Reporting Persons as of May 20, 2026.
Reporting Persons do not directly own any Common Stock. Pursuant to investment agreements with the certain investment funds and managed accounts (collectively, the "Funds"), the US Investment Manager and the Brazil Investment Manager (together the "Investment Managers") maintain voting and dispositive power with respect to the securities held by the Funds. Mr. Ache controls the Investment Managers. Under the rules promulgated by the Securities and Exchange Commission, the Reporting Persons may be deemed to beneficially own the Common Stock. Each Reporting Person hereby disclaims beneficial ownership of the securities covered by this statement.
The information required by Item 4(a) is set forth in Rows 5-11 of the cover page for each Reporting Person hereto.
(b)
Percent of class:
The information required by Item 4(b) is set forth in Rows 5-11 of the cover page for each Reporting Person hereto.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
See cover page
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
See cover page
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The business of Investment Managers is the rendering of financial services and as such they provides discretionary investment advisory services to each of the Funds. In such capacity, the Investment Managers have the power to make decisions regarding the voting and disposition of the Common Stock. Under the rules promulgated by the Securities and Exchange Commission, the Investment Managers and their control person Mr. Ache may be considered beneficial owners of securities acquired by the Funds. The Reporting Persons have the right to receive the proceeds from the sale of, or the power to direct the receipt of distributions from, the Common Stock reported in this Schedule 13G/A.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
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.
The filing shows shared dispositive power of 32,806,391 shares, reported as 10.1% of Class A Common Shares as of May 20, 2026. This number reflects voting/dispositive authority held for funds managed by the Investment Managers.
Does the filing say the Reporting Persons beneficially own the shares?
The filing states the Reporting Persons "may be deemed to beneficially own" the securities under the rules but also includes an explicit disclaimer of beneficial ownership by each Reporting Person in the amendment.
Who controls the voting and disposition of the shares?
The amendment says the US Investment Manager and Brazil Investment Manager have voting and dispositive power over the shares held by the Funds, and that Mr. Guilherme Mexias Ache controls those Investment Managers.
What date is the ownership information based on?
Percentages and ownership figures are calculated based on the number of shares issued and outstanding as of May 20, 2026, per the filing's statement referencing the issuer's publicly accessible website.
When was the Schedule 13G/A amendment signed?
The amendment is signed by reporting representatives and lists signature dates of 05/26/2026, indicating the amendment was executed on that date.
