SoftBank reports 18.7% Inter & Co (INTR) ownership stake

Rhea-AI Filing Summary

SoftBank Group Corp. and affiliated investment entities report beneficial ownership of 60,506,636 Inter & Co, Inc. Class A common shares, representing 18.7% of the class. The record holder is SBLA Holdings (Cayman) L.P., with voting and dispositive power shared across the SoftBank-related entities.

The ownership figures are reported as of December 31, 2025 and are based on 323,145,718 Class A common shares outstanding as of September 30, 2025, as disclosed in Inter & Co’s Form 6-K. Multiple SoftBank-controlled entities are listed, reflecting the fund and holding-company structure through which the stake is held.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Inter & Co, Inc.

(Name of Issuer)

Class A Common Shares, par value of $0.0000025 per share

(Title of Class of Securities)

G4R20B107

(CUSIP Number)

12/31/2025

(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. G4R20B107

1

Names of Reporting Persons

SoftBank Group Corp.

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

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

SB Global Advisers Limited

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

Delaware Project 11 L.L.C.

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 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

SBLA Latin America Fund 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 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

SBLA Investments II 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 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

SLA Investments IV 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 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Limited Liability Company

SCHEDULE 13G

CUSIP No. G4R20B107

1

Names of Reporting Persons

SBLA Holdings (Cayman) L.P.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 60,506,636.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 60,506,636.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

60,506,636.00

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)

18.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inter & Co, Inc.
(b)	Address of issuer's principal executive offices: Av Barbacena, 1,219, 22nd Floor, Belo Horizonte, Brazil, 30 190-131
Item 2.
(a)	Name of person filing: Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: SoftBank Group Corp. ("SoftBank") SB Global Advisers Limited ("SBGA") Delaware Project 11 L.L.C. SBLA Latin America Fund LLC SBLA Investments II LLC SLA Investments IV LLC SBLA Holdings (Cayman) L.P.
(b)	Address or principal business office or, if none, residence: The principal business address of SoftBank is 1-7-1 Kaigan, Minato-ku, Tokyo, 105-7537, Japan. The principal business address of SBGA is 69 Grosvenor Street, Mayfair, London W1K 3JP, England, United Kingdom. The principal business address of SBLA Holdings (Cayman) L.P. is c/o Walkers, 190 Elgin Avenue, George Town, Grand Cayman KY1-9008, Cayman Islands. The principal business address of each of the other Reporting Persons is 1521 Concord Pike, Wilmington, DE 19803.
(c)	Citizenship: SoftBank is organized under the laws of Japan. SBGA is organized under the laws of England and Wales. SBLA Holdings (Cayman) L.P. is organized under the laws of the Cayman Islands. Each of the other Reporting Persons is organized under the laws of the State of Delaware.
(d)	Title of class of securities: Class A Common Shares, par value of $0.0000025 per share
(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).
Item 4.	Ownership
(a)	Amount beneficially owned: The ownership information presented herein represents beneficial ownership of Class A Common Shares of the Issuer as of December 31, 2025, based upon 323,145,718 Class A Common Shares outstanding as of September 30, 2025, as disclosed in the Issuer's Current Report on Form 6-K filed with the Securities and Exchange Commission on November 13, 2025. SBLA Holdings (Cayman) L.P. is the record holder of 60,506,636 Class A Common Shares. SoftBank, which is a publicly traded company listed on the Tokyo Stock Exchange, is the sole shareholder of SBGA, which has been appointed as manager and is responsible for making final decisions related to the acquisition, structuring, financing and disposal of SBLA Latin America Fund LLC's investments, including as held by SBLA Holdings (Cayman) L.P. SBLA Holdings (Cayman) L.P. is controlled and wholly owned by SLA Investments IV LLC, which is a wholly owned subsidiary of SBLA Investments II LLC, which is a wholly owned subsidiary of SBLA Latin America Fund LLC, which is a wholly owned subsidiary of Delaware Project 11 L.L.C. As a result of these relationships, each of the Reporting Persons may be deemed to share beneficial ownership of the securities reported herein.
(b)	Percent of class: 18.7%
(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: 60,506,636
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 60,506,636
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.
	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.
	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:
	Not Applicable

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.

SoftBank Group Corp.

Signature:	/s/ Yuko Yamamoto
Name/Title:	Yuko Yamamoto, Head of Corporate Legal Department
Date:	02/17/2026

SB Global Advisers Limited

Signature:	/s/ Stephen Lam
Name/Title:	Stephen Lam, General Counsel
Date:	02/17/2026

Delaware Project 11 L.L.C.

Signature:	/s/ Jonathan Duckles
Name/Title:	Jonathan Duckles, Director
Date:	02/17/2026

SBLA Latin America Fund LLC

Signature:	/s/ Jonathan Duckles
Name/Title:	Jonathan Duckles, Director
Date:	02/17/2026

SBLA Investments II LLC

Signature:	/s/ Jonathan Duckles
Name/Title:	Jonathan Duckles, Director
Date:	02/17/2026

SLA Investments IV LLC

Signature:	/s/ Jonathan Duckles
Name/Title:	Jonathan Duckles, Director
Date:	02/17/2026

SBLA Holdings (Cayman) L.P.

Signature:	By: SoftBank Latin America Fund GP (Cayman) Ltd., its General Partner, /s/ Jonathan Duckles
Name/Title:	Jonathan Duckles, Director
Date:	02/17/2026

Exhibit Information

Exhibit 99: Joint Filing Agreement (previously filed).

FAQ

What stake does SoftBank report in Inter & Co (INTR)?

SoftBank and affiliated entities report beneficial ownership of 60,506,636 Inter & Co Class A common shares, representing 18.7% of the class. The position is held through SBLA Holdings (Cayman) L.P. and several related SoftBank-controlled investment entities.

Which SoftBank entity is the record holder of Inter & Co (INTR) shares?

The filing states that SBLA Holdings (Cayman) L.P. is the record holder of 60,506,636 Inter & Co Class A common shares. Other SoftBank-related entities sit above it in the ownership chain and may be deemed to share beneficial ownership of this stake.

How was SoftBank’s 18.7% ownership in Inter & Co (INTR) calculated?

The 18.7% figure is based on 60,506,636 Class A shares beneficially owned and 323,145,718 Class A shares outstanding as of September 30, 2025, as disclosed in Inter & Co’s Form 6-K filed November 13, 2025 with the Securities and Exchange Commission.

Which entities are included as reporting persons for Inter & Co (INTR)?

Reporting persons include SoftBank Group Corp., SB Global Advisers Limited, Delaware Project 11 L.L.C., SBLA Latin America Fund LLC, SBLA Investments II LLC, SLA Investments IV LLC, and SBLA Holdings (Cayman) L.P., all of which may be deemed to share beneficial ownership.

What voting and dispositive power does SoftBank report over Inter & Co (INTR) shares?

The reporting persons state they have 0 shares with sole voting or dispositive power and 60,506,636 shares with shared voting and shared dispositive power. This indicates decisions regarding these shares are made collectively across the SoftBank-related entities.

What is the relevant date for SoftBank’s Inter & Co (INTR) ownership disclosure?

The beneficial ownership information is reported as of December 31, 2025. The percentage calculation relies on Inter & Co’s 323,145,718 Class A shares outstanding as of September 30, 2025, which the company disclosed in a Form 6-K filed November 13, 2025.