# M Square Investimentos Ltda.

> M Square Investimentos Ltda. is an SEC-registered investment advisory firm in Sao Paulo, Brazil, registered since 2025, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 336712
- Filed as: M SQUARE INVESTIMENTOS LTDA.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Sao Paulo, Brazil
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/336712
- AdvisorCensus page: https://advisorcensus.com/firm/m-square-investimentos-ltda-sao-paulo-336712

## Quick answers

**How is M Square Investimentos Ltda. compensated?**
On its Form ADV (Item 5.E, October 2026), M Square Investimentos Ltda. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does M Square Investimentos Ltda. charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.5% to 1.2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is M Square Investimentos Ltda. located?**
M Square Investimentos Ltda.'s principal office is in Sao Paulo, Brazil, according to its Form ADV.

**Is M Square Investimentos Ltda. registered with the SEC or a state?**
M Square Investimentos Ltda. is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 336712.

**How much does M Square Investimentos Ltda. manage?**
M Square Investimentos Ltda. reports $2,251,538,613 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**What types of clients does M Square Investimentos Ltda. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (25); corporations or other businesses not listed above (9).

**Which custodians does M Square Investimentos Ltda. use?**
M Square Investimentos Ltda.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citco Bank and Trust Company Limited, Goldman Sachs & Co. LLC and JPMorgan Chase Bank, N.A. as custodians holding 10% or more of its separately managed account assets.

**Does M Square Investimentos Ltda. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/336712

**What changed in M Square Investimentos Ltda.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 10 to 5. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: 0.5% to 1.2% a year (a range, as the brochure states it)

> Management fees for the Funds generally range from 0.5% to 1.2% and are deducted by the Firm each calendar month in advance, regardless of performance.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Citco Bank and Trust Company Limited
- Goldman Sachs & Co. LLC
- JPMorgan Chase Bank, N.A.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,251,538,613
- Discretionary: $2,251,538,613
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 25 | $1,173,556,662 |
| Corporations or other businesses not listed above | 9 | $1,077,981,951 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2025 (1 year)
- Employees: 22 total, 5 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- msquare.com/en
- LinkedIn @m-square-investimentos

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 10 to 5.
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Newly registered with the SEC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. M Square Investimentos Ltda. (CRD 336712): Form ADV filing data as of October 2026.