AdvisorCensus / Financial advisors / Puerto Rico / X-Square Capital
X-Square Capital is an SEC-registered investment advisory firm in Guaynabo, PR, registered since 2015, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated April 13, 2026.
Quick answers
From the filingHow is X-Square Capital compensated?
On its Form ADV (Item 5.E, October 2026), X-Square Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.
Where is X-Square Capital located?
X-Square Capital's principal office is in Guaynabo, PR, according to its Form ADV.
Is X-Square Capital registered with the SEC or a state?
X-Square Capital is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 167237.
How much does X-Square Capital manage?
X-Square Capital reports $790,900,970 in regulatory assets under management in its Form ADV filing dated April 13, 2026 (65% discretionary).
How have X-Square Capital's assets and staff changed since 2021?
In the Form ADV data for X-Square Capital: Regulatory assets under management: $373,530,183 in the October 2021 data and $790,900,970 in the October 2026 data, up 112%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does X-Square Capital serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (130); pension and profit sharing plans (but not the plan participants or government pension plans) (80); corporations or other businesses not listed above (75).
Which custodians does X-Square Capital use?
X-Square Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., J.P. Morgan Securities Inc., Jefferies LLC, State Street Corporation and Usbank, N.A. as custodians holding 10% or more of its separately managed account assets.
Does X-Square Capital 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/167237
What changed in X-Square Capital's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $616,864,678 to $790,900,970 (+28%). Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2ASee the firm's brochure (dated March 24, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$790,900,970 as of October 2026, filing dated April 13, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Legal name
- X-Square Capital, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2015 (11 years)
- Employees
- Total: 7. Performing investment advisory functions: 7.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
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1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $790,900,970 | 7 | April 13, 2026 |
| October 2025 | $623,933,455 | 7 | May 14, 2025 |
| October 2024 | $423,636,050 | 7 | April 3, 2024 |
| October 2023 | $286,875,158 | 7 | April 28, 2023 |
| October 2022 | $294,264,777 | 7 | September 29, 2022 |
| October 2021 | $373,530,183 | 7 | July 2, 2021 |
Regulatory assets under management: $373,530,183 in the October 2021 data and $790,900,970 in the October 2026 data, up 112%.
Total employees: 7 in October 2021 and 7 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $616,864,678 to $790,900,970 (+28%).
- Updated its list of owners and control persons (Schedule A).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. X-Square Capital (CRD 167237): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/x-square-capital-guaynabo-pr-167237