SCHEDULE 13G/A: FIL Limited and Affiliates Maintain Significant Stake in INTER &CO INC, Disclosing 7.7% Beneficial Ownership

FIL Limited, along with Pandanus Partners, L.P. and Pandanus Associates, Inc., has filed an amendment to their Schedule 13G, confirming a beneficial ownership of 7.7% in INTER &CO INC's Class A Common Stock as of March 31, 2025.

Summary

• FIL Limited, a Bermuda-based entity, along with its affiliates Pandanus Partners, L.P. (Delaware) and Pandanus Associates, Inc. (Delaware), collectively reported beneficial ownership of 24,649,690 shares of INTER &CO INC's Class A Common Stock.
• This aggregate amount represents 7.7% of the Class A Common Stock outstanding.
• FIL Limited holds sole voting power over 19,271,766 shares, while all reporting persons share sole dispositive power over 24,649,690 shares.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously reported beneficial ownership.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose or with the effect of changing or influencing the control of INTER &CO INC.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, providing neutral information without expressing positive or negative sentiment regarding the issuer's performance or prospects.

Positives

• The continued significant institutional ownership by FIL Limited and its affiliates, holding 7.7% of INTER &CO INC's Class A Common Stock, may signal ongoing investor confidence.
• The explicit certification that the shares are held in the ordinary course of business and not for the purpose of influencing control provides clarity regarding the investor's intent.

Risks

• The filing explicitly states that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer, mitigating concerns about potential hostile takeover attempts or activist investor actions from these specific entities.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding INTER &CO INC's future performance or strategic outlook.

Management Comments

• "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."

Industry Context

This filing reflects a significant institutional investment in INTER &CO INC, a common practice among large asset managers like FIL Limited. Such disclosures provide transparency into major ownership stakes, which can influence market perception and liquidity. The nature of the filing (Schedule 13G) indicates a passive investment intent, typical for large financial institutions holding positions in publicly traded companies.

Related Party Transactions

• Pandanus Partners, L.P. owns voting stock in FIL Limited, representing between 25% and 48.5% of total voting power. Pandanus Associates, Inc. acts as the general partner of Pandanus Partners, L.P. These relationships are disclosed to clarify the beneficial ownership structure of the reporting group.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake and their stated passive investment intent, which can offer a degree of stability.
• Investment Professionals: Offers updated data on institutional ownership, which is crucial for market analysis and understanding the shareholder base.

Key Dates

Keywords

Beneficial Ownership, Schedule 13G, SEC Filing, Institutional Investor, FIL Limited, INTER &CO INC, Class A Common Stock, Equity Stake, Ownership Disclosure