Inter & Co (INTR) stake: Squadra group reports control over 31.9M shares

Rhea-AI Filing Summary

Inter & Co, Inc. received an updated ownership report from Squadra Investments entities and Guilherme Mexias Ache regarding Class A Common Shares as of July 15, 2026. The group may be deemed to beneficially own 31,924,236 Class A shares, representing 9.8% of the class. They report 27,217,557 shares with shared voting power and 31,924,236 shares with shared dispositive power, and no sole voting or dispositive power. The shares are held by investment funds and managed accounts for which the investment managers have discretionary authority. Each reporting person disclaims beneficial ownership, even though control over voting and disposition may cause them to be treated as beneficial owners under applicable rules.

Key Figures

Shared Voting Power: 27,217,557 shares Shared Dispositive Power: 31,924,236 shares Aggregate Shares Beneficially Owned: 31,924,236 shares +3 more

6 metrics

Shared Voting Power 27,217,557 shares Class A Common Shares over which the reporting persons share voting power

Shared Dispositive Power 31,924,236 shares Class A Common Shares over which the reporting persons share dispositive power

Aggregate Shares Beneficially Owned 31,924,236 shares Class A Common Shares that may be deemed beneficially owned by the reporting persons

Ownership Percentage 9.8% Percentage of Inter & Co Class A Common Shares as of July 15, 2026

Sole Voting Power 0 shares Number of shares with sole voting power reported by the group

Sole Dispositive Power 0 shares Number of shares with sole dispositive power reported by the group

Key Terms

beneficially own, dispositive power, shared voting power, discretionary investment advisory services, +1 more

5 terms

beneficially own regulatory

"may be deemed to beneficially own the Common Stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

dispositive power regulatory

"Shared Dispositive Power 31,924,236.00"

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.

shared voting power regulatory

"Shared Voting Power 27,217,557.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

discretionary investment advisory services financial

"they provides discretionary investment advisory services to each of the Funds"

percent of class regulatory

"Percent of class: The information required by Item 4(b)"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

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

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Available on EDGAR 07/17/2026 - 04:07 PM Accepted by SEC EDGAR 07/17/2026 - 04:07 PM Learn about SEC filing dates

FAQ

What percentage of Inter & Co (INTR) Class A shares is reported by the Squadra group?

The reporting group may be deemed to beneficially own 9.8% of Inter & Co’s Class A Common Shares, based on shares outstanding as of July 15, 2026, according to the ownership information provided by the reporting persons.

How many Inter & Co (INTR) Class A shares does the Squadra group report control over?

The reporting persons indicate potential beneficial ownership of 31,924,236 Class A shares, with 27,217,557 shares subject to shared voting power and 31,924,236 shares subject to shared dispositive power, all held through investment funds and managed accounts.

Do the reporting persons directly own Inter & Co (INTR) Common Stock?

The reporting persons state they do not directly own any Inter & Co Common Stock. The shares are held by investment funds and managed accounts for which the investment managers have discretionary voting and dispositive authority over the securities.

Who are the reporting persons in this Inter & Co (INTR) ownership report?

The reporting persons are Squadra Investments – Gestao de Recursos Ltda., Squadra Investimentos – Gestao de Recursos Ltda., and Guilherme Mexias Ache, who controls the investment managers and may be deemed a beneficial owner under applicable rules.

What type of control does the Squadra group report over Inter & Co (INTR) shares?

They report no sole voting or dispositive power, but indicate shared voting power over 27,217,557 shares and shared dispositive power over 31,924,236 shares, exercised through discretionary investment management for various funds and accounts.

Do the Squadra reporting persons claim beneficial ownership of Inter & Co (INTR) shares?

Each reporting person expressly disclaims beneficial ownership of the Inter & Co Common Stock, even though, under applicable rules, they may be deemed to beneficially own the shares held by the funds they manage or control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Inter & Co, Inc.

(Name of Issuer)

Class A Common Shares

(Title of Class of Securities)

G4R20B107

(CUSIP Number)

07/15/2026

(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 27,217,557.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 31,924,236.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,924,236.00

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)

9.8 %

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 27,217,557.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 31,924,236.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,924,236.00

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)

9.8 %

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 27,217,557.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 31,924,236.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,924,236.00

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)

9.8 %

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 July 15, 2026 as reflected on the Issuer's publicly accessible website and reflect the ownership of the Reporting Persons as of July 15, 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.

SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.

Signature:	LUIS FELIPE STERN
Name/Title:	LUIS FELIPE STERN/Chief Operating Officer
Date:	07/17/2026

SQUADRA INVESTIMENTOS

Signature:	LUIS FELIPE STERN
Name/Title:	LUIS FELIPE STERN/Chief Operating Officer
Date:	07/17/2026

GUILHERME MEXIAS ACHE

Signature:	GUILHERME MEXIAS ACHE
Name/Title:	n/a
Date:	07/17/2026