{
  "crd_number": 167237,
  "slug": "x-square-capital-guaynabo-pr-167237",
  "primary_business_name": "X-SQUARE CAPITAL",
  "legal_name": "X-SQUARE CAPITAL, LLC",
  "dbas": [],
  "city": "Guaynabo",
  "state": "PR",
  "country": "United States",
  "cbsa_code": "41980",
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2015-04-06",
  "years_registered": 11,
  "period": "2026-10-01",
  "filing_date": "2026-04-13",
  "carried_forward": false,
  "raum_total": 790900970.0,
  "raum_discretionary": 516578559.0,
  "raum_non_discretionary": 274322411.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 7,
  "advisory_employees": 7,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 27750483.0,
      "count": 130
    },
    "insurance_companies": {
      "raum": 16745385.0,
      "count": 1
    },
    "investment_companies": {
      "raum": 87270490.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 62692616.0,
      "count": 80
    },
    "high_net_worth_individuals": {
      "raum": 35168289.0,
      "count": 37
    },
    "pooled_investment_vehicles": {
      "raum": 70827489.0,
      "count": 1
    },
    "corporations_other_businesses": {
      "raum": 490446218.0,
      "count": 75
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "PR"
  ],
  "websites": [
    "https://balancedira.com",
    "https://facebook.com/xsquarecapital",
    "https://instagram.com/xsquarecapital",
    "https://open.spotify.com/show/5B9CwgWjJdRE99pjhGnw1x?si=HtPQLkl8TZqcRTnQmEoouA",
    "https://pr.linkedin.com/company/x2-square-capital",
    "https://tiktok.com/@xsquarecapital",
    "https://x.com/ZTAXetf",
    "https://x2etfs.com",
    "https://xsquarecapital.com",
    "https://youtube.com/@xsquarecapital"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/167237",
  "city_as_filed": "GUAYNABO",
  "url": "https://advisorcensus.com/firm/x-square-capital-guaynabo-pr-167237",
  "display_name": "X-Square Capital",
  "summary": "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.",
  "citation": "AdvisorCensus. X-Square Capital (CRD 167237): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "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"
  ],
  "quick_answers": [
    {
      "q": "How is X-Square Capital compensated?",
      "a": "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. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is X-Square Capital located?",
      "a": "X-Square Capital's principal office is in Guaynabo, PR, according to its Form ADV."
    },
    {
      "q": "Is X-Square Capital registered with the SEC or a state?",
      "a": "X-Square Capital is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 167237."
    },
    {
      "q": "How much does X-Square Capital manage?",
      "a": "X-Square Capital reports $790,900,970 in regulatory assets under management in its Form ADV filing dated April 13, 2026 (65% discretionary)."
    },
    {
      "q": "How have X-Square Capital's assets and staff changed since 2021?",
      "a": "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."
    },
    {
      "q": "What types of clients does X-Square Capital serve?",
      "a": "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)."
    },
    {
      "q": "Which custodians does X-Square Capital use?",
      "a": "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."
    },
    {
      "q": "Does X-Square Capital report any disciplinary disclosures?",
      "a": "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"
    },
    {
      "q": "What changed in X-Square Capital's recent Form ADV filings?",
      "a": "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)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 373530183.0,
      "total_employees": 7,
      "filing_date": "2021-07-02"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 294264777.0,
      "total_employees": 7,
      "filing_date": "2022-09-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 286875158.0,
      "total_employees": 7,
      "filing_date": "2023-04-28"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 423636050.0,
      "total_employees": 7,
      "filing_date": "2024-04-03"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 623933455.0,
      "total_employees": 7,
      "filing_date": "2025-05-14"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 790900970.0,
      "total_employees": 7,
      "filing_date": "2026-04-13"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $616,864,678 to $790,900,970 (+28%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "J.P. Morgan Securities Inc.",
      "name_as_filed": "J.P. MORGAN SECURITIES INC.",
      "affiliated": false
    },
    {
      "name": "Jefferies LLC",
      "name_as_filed": "JEFFERIES LLC",
      "affiliated": false
    },
    {
      "name": "State Street Corporation",
      "name_as_filed": "STATE STREET CORPORATION",
      "affiliated": false
    },
    {
      "name": "Usbank, N.A.",
      "name_as_filed": "USBANK, N.A.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/x-square-capital-guaynabo-pr-167237.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 130,
      "fewer_than_5": false,
      "raum": 27750483.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 37,
      "fewer_than_5": false,
      "raum": 35168289.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 87270490.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 70827489.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 80,
      "fewer_than_5": false,
      "raum": 62692616.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 16745385.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 75,
      "fewer_than_5": false,
      "raum": 490446218.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/167237",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}