Inter & Co gets 4.9% stake disclosure from Squadra

Rhea-AI Filing Summary

Inter & Co, Inc. (INTR) received an amended Schedule 13G filing indicating that investment managers SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA., SQUADRA INVESTIMENTOS - GESTAO DE RECURSOS LTDA., and their control person Guilherme Mexias Ache, together report beneficial ownership of 16,056,009 Class A Common Shares, representing 4.9% of this class as of September 8, 2026.

The reporting group has shared voting power over 13,603,826 shares and shared dispositive power over 16,056,009 shares, with no sole voting or dispositive power. The securities are held by investment funds and managed accounts for which the investment managers provide discretionary advisory services, and all reporting persons disclaim beneficial ownership beyond what applicable rules may deem.

Key Figures

Shares beneficially owned: 16,056,009 Class A Common Shares Percent of class owned: 4.9% Shared voting power: 13,603,826 shares +4 more

7 metrics

Shares beneficially owned 16,056,009 Class A Common Shares Beneficial ownership reported by the Squadra group as of September 8, 2026

Percent of class owned 4.9% Percentage of Inter & Co, Inc. Class A Common Shares reported as owned

Shared voting power 13,603,826 shares Shares over which the Reporting Persons have shared power to vote or direct the vote

Sole voting power 0 shares Shares over which the Reporting Persons have sole power to vote

Shared dispositive power 16,056,009 shares Shares over which the Reporting Persons have shared power to dispose or direct disposition

Sole dispositive power 0 shares Shares over which the Reporting Persons have sole power to dispose

Citizenship of reporting persons Brazil Citizenship or place of organization of each Reporting Person

Key Terms

beneficial ownership, dispositive power, voting power, Schedule 13G/A, +1 more

5 terms

beneficial ownership financial

"Under the rules promulgated by the , the Reporting Persons may be deemed to beneficially own the Common Stock"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

dispositive power financial

"Shared Dispositive Power 16,056,009.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

voting power financial

"Shared Voting Power 13,603,826.00"

Voting power is the ability shareholders have to influence a company's major decisions—like electing the board, approving mergers, or changing corporate rules—based on the voting rights attached to the shares they hold. For investors it matters because greater voting power is like holding more keys to a building: it gives you a stronger say over management choices and the company’s strategy, which can affect future value and risk.

Schedule 13G/A regulatory

"The percentages used herein and in the rest of this /A are calculated"

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.

investment adviser financial

"The business of Investment Managers is the rendering of financial services and as such they provides discretionary investment advisory services"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in Inter & Co, Inc. (INTR) do the Squadra entities report?

They report beneficial ownership of 16,056,009 Class A Common Shares of Inter & Co, Inc., representing 4.9% of that class as of September 8, 2026, based on the company’s publicly accessible share count information.

Who are the reporting persons in this Schedule 13G/A for INTR?

The reporting persons are SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA., SQUADRA INVESTIMENTOS - GESTAO DE RECURSOS LTDA., and Guilherme Mexias Ache, collectively referred to as the Reporting Persons in the filing.

How much voting and dispositive power over INTR shares do the reporting persons have?

They report 0 sole voting power and 13,603,826 shares with shared voting power, plus 0 sole dispositive power and 16,056,009 shares with shared dispositive power over Inter & Co, Inc. Class A Common Shares.

Why does the Schedule 13G/A state 4.9% ownership for INTR?

The 4.9% figure is calculated using the number of Class A Common Shares issued and outstanding as of September 8, 2026, as reflected on Inter & Co, Inc.’s publicly accessible website, and reflects the Reporting Persons’ ownership as of that date.

Do the reporting persons directly own Inter & Co, Inc. (INTR) shares?

They state they do not directly own any Common Stock. The shares are held by certain investment funds and managed accounts, and the investment managers have voting and dispositive power pursuant to investment agreements with those funds and accounts.

Do the reporting persons claim full beneficial ownership of the INTR shares?

No. They explain that, under applicable rules, they may be deemed beneficial owners because of their voting and dispositive power, but each Reporting Person disclaims beneficial ownership of the securities covered by this statement.

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

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Available on EDGAR 09/15/2026 - 06:49 PM Accepted by SEC EDGAR 09/15/2026 - 06:49 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

Inter & Co, Inc.

(Name of Issuer)

Class A Common Shares

(Title of Class of Securities)

G4R20B107

(CUSIP Number)

09/08/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G4R20B107

1

Names of Reporting Persons

SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.

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

BRAZIL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,603,826.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,056,009.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,056,009.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): G4R20B107

1

Names of Reporting Persons

SQUADRA INVESTIMENTOS

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

BRAZIL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,603,826.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,056,009.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,056,009.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): G4R20B107

1

Names of Reporting Persons

GUILHERME MEXIAS ACHE

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

BRAZIL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,603,826.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,056,009.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,056,009.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inter & Co, Inc.
(b)	Address of issuer's principal executive offices: Avenida Barbacena, No. 1.219, 22nd floor, Belo Horizonte, Brazil, 30 190-131
Item 2.
(a)	Name of person filing: 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 September 8, 2026 as reflected on the Issuer's publicly accessible website and reflect the ownership of the Reporting Persons as of Septemer 8, 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.
	Ownership of 5 percent or less of a class
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.

SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.

Signature:	LUIS FELIPE STERN
Name/Title:	LUIS FELIPE STERN/Chief Operating Officer
Date:	09/15/2026

SQUADRA INVESTIMENTOS

Signature:	LUIS FELIPE STERN
Name/Title:	LUIS FELIPE STERN/Chief Operating Officer
Date:	09/15/2026

GUILHERME MEXIAS ACHE

Signature:	GUILHERME MEXIAS ACHE
Name/Title:	GUILHERME MEXIAS ACHE
Date:	09/15/2026