DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
X-Square Capital
Legal name X-Square Capital, LLC
Latest filing Apr 13, 2026
First filing on the tape Mar 15, 2013 · 40 filings
SEC status approved since Apr 6, 2015
RAUM
$791M
reported, Item 5.F
Discretionary
65%
of RAUM
Private clients
8.0%
$62.9M individuals and HNW
Advisors
8
registered through the firm on IAPD
RAUM per advisor
$98.9M
derived; firm RAUM over IAPD count
Employees
7
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
40 filings and snapshots on the tape
RAUM$791M as of Apr 13, 2026
Mar 24, 2016$137M then
HNW client RAUM$35.2M as of Apr 13, 2026
Mar 30, 2018$25.6M then
State-registered IARs (5.B.3)7 as of Apr 13, 2026
Mar 24, 20166 then
Employees (5.A)7 as of Apr 13, 2026
Mar 24, 20166 then
Private funds3 as of Apr 13, 2026
Mar 30, 20181 then
RAUM +27% over the last fiscal year+40% a year over threeIARs 7 to 7
Practice profile
derived from the filing of Apr 13, 2026; every figure names its basis
- RAUM per advisor
- $98.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 21derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $950,494derivedHNW RAUM over HNW clients
- Average account
- $2.4MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 65%derivedof RAUM
- Institutional
- 10%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 0.9derivedItem 5.A over advisors
- Advisors per office
- 8.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +27%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +28%derived
- Compensation
- percentage of assets, performance-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
- Custody
- $69.7M, 1 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Corporations and businesses$490M62%
- Investment companies$87.3M11%
- Pooled investment vehicles$70.8M9.0%
- Pension and profit-sharing plans$62.7M7.9%
- High-net-worth individuals$35.2M4.4%
- Individuals$27.8M3.5%
- Insurance companies$16.7M2.1%
- Individual clients
- 130reported
- HNW clients
- 37reported
- Pension plan clients
- 80reported
- Charitable clients
- n/areported
- Accounts
- 326reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $69.7M for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.08 fund_share=0.2 institutional_share=0.1 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Ignacio Manuel Canto | Guaynabo, Pr | Apr 8, 2013 | 18 y | 1 |
| Gabriel Antonio Medina | Guaynabo, Pr | Sep 4, 2015 | 11 y | 0 |
| Salvador Jose Gomez-Carbia | Guaynabo, Pr | Apr 15, 2016 | 26 y | 1 |
| James Arthur Rodriguez Colom | Guaynabo, Pr | Apr 27, 2016 | 27 y | 0 |
| Lee Daniel Cardona Rodriguez | Guaynabo, Pr | Mar 14, 2019 | 16 y | 1 |
| Cristina Marie Perez-Franceschini | Guaynabo, Pr | Sep 26, 2022 | 27 y | 0 |
| Paulette M Prats Cruz | Guaynabo, Pr | Feb 16, 2024 | 13 y | 0 |
| Victor Juan Rodriguez Cerda | Guaynabo, Pr | Jul 1, 2024 | 11 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Ruben Antonio Tapia Vargas to MML Investors Services, LLCMay 11, 2022 · Other
Joined, latest
- Lee Daniel Cardona Rodriguez from Popular Securities, LLCMar 14, 2019 · Other
- Salvador Jose Gomez-Carbia from Santander SecuritiesApr 15, 2016 · Other
- Ignacio Manuel Canto from Santander SecuritiesApr 8, 2013 · Other
Private funds
3 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| X2 Cav Master, LPno longer reported | Hedge Fund | $144M | 12 | Mar 30, 2018 |
| Fb Private Equity Fund LLC | Private Equity Fund | $106M | 1 | Nov 2, 2023 |
| X2 Alternative Dividend Alpha Fund Inc | Hedge Fund | $57.2M | 109 | Jul 2, 2021 |
Owners and control persons
Schedule A and B, latest filing
- Manuel Ignacio Canto · President, Portfolio Managercontrolsince 02/2013 · owns 75% or more
- Antonio Gabriel Medina · Portfolio Managercontrolsince 08/2015 · owns less than 5%
- Marie Cristina Perez Franceschini · Chief Compliance Officercontrolsince 05/2022 · owns less than 5%
Related persons
Schedule D 7.A
- Ignacio Cantopooled vehicle sponsorn
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Guaynabo, Pr · principal | 8 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 263 to 326Sep 25, 2025 to Mar 24, 2026
- Corporate clients · 65 to 75Sep 25, 2025 to Mar 24, 2026
- HNW clients · 32 to 37Sep 25, 2025 to Mar 24, 2026
- Individual clients · 98 to 130Sep 25, 2025 to Mar 24, 2026
- Pension plan clients · 62 to 80Sep 25, 2025 to Mar 24, 2026
- Pooled vehicle clients · 2 to 1Sep 25, 2025 to Mar 24, 2026
- Assets in custody · $67.2M to $69.7MSep 25, 2025 to Mar 24, 2026
- Discretionary RAUM · $417M to $517MSep 25, 2025 to Mar 24, 2026
- HNW RAUM · $36.0M to $35.2MSep 25, 2025 to Mar 24, 2026
- Individual RAUM · $23.2M to $27.8MSep 25, 2025 to Mar 24, 2026
- Non-discretionary RAUM · $200M to $274MSep 25, 2025 to Mar 24, 2026
- Pension RAUM · $45.9M to $62.7MSep 25, 2025 to Mar 24, 2026
- Pooled vehicle RAUM · $82.7M to $70.8MSep 25, 2025 to Mar 24, 2026
- RAUM · $617M to $791MSep 25, 2025 to Mar 24, 2026
- Financial planning clients · 0 to 0May 14, 2025 to Sep 25, 2025
- Discretionary RAUM · $424M to $417MMay 14, 2025 to Sep 25, 2025
- RAUM · $624M to $617MMay 14, 2025 to Sep 25, 2025
- Accounts · 220 to 263Apr 3, 2024 to Mar 31, 2025
- Corporate clients · 50 to 65Apr 3, 2024 to Mar 31, 2025
- HNW clients · 35 to 32Apr 3, 2024 to Mar 31, 2025
- Individual clients · 77 to 98Apr 3, 2024 to Mar 31, 2025
- Pension plan clients · 53 to 62Apr 3, 2024 to Mar 31, 2025
- Assets in custody · unset to 67193599.0Apr 3, 2024 to Mar 31, 2025
- Custody of client assets · false to trueApr 3, 2024 to Mar 31, 2025
- Private funds · 2 to 3Apr 3, 2024 to Mar 31, 2025
- Discretionary RAUM · $317M to $424MApr 3, 2024 to Mar 31, 2025
- HNW RAUM · $37.6M to $36.0MApr 3, 2024 to Mar 31, 2025
- Individual RAUM · $15.1M to $23.2MApr 3, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $106M to $200MApr 3, 2024 to Mar 31, 2025
- Pension RAUM · $35.4M to $45.9MApr 3, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $71.6M to $82.7MApr 3, 2024 to Mar 31, 2025
- RAUM · $424M to $624MApr 3, 2024 to Mar 31, 2025
- Accounts · 188 to 220Nov 2, 2023 to Mar 22, 2024
- Corporate clients · 44 to 50Nov 2, 2023 to Mar 22, 2024
- HNW clients · 31 to 35Nov 2, 2023 to Mar 22, 2024
- Individual clients · 58 to 77Nov 2, 2023 to Mar 22, 2024
- Pension plan clients · 51 to 53Nov 2, 2023 to Mar 22, 2024
- Discretionary RAUM · $287M to $317MNov 2, 2023 to Mar 22, 2024
- HNW RAUM · $42.0M to $37.6MNov 2, 2023 to Mar 22, 2024
- Individual RAUM · $9.9M to $15.1MNov 2, 2023 to Mar 22, 2024
Signals
11 dated events
- X-Square Capital reported RAUM $790.9M, up 28% from $616.9M (2025-09-25 to 2026-03-24)Mar 24, 2026 · RAUM change · derived
- X-Square Capital reported RAUM $623.9M, up 47% from $423.6M (2024-04-03 to 2025-03-31)Mar 31, 2025 · RAUM change · derived
- X-Square Capital reported RAUM $423.6M, up 48% from $286.9M (2023-11-02 to 2024-03-22)Mar 22, 2024 · RAUM change · derived
- Antonio Ruben Tapia Vargas (Chief Compliance Officer/Chief Financial Officer) no longer on Schedule A of X-Square Capital (listed 2022-03-16, absent 2022-06-13)Jun 13, 2022 · Control person left · inference
- Marie Cristina Perez Franceschini (Chief Compliance Officer) appeared on Schedule A of X-Square CapitalJun 13, 2022 · Control person joined · fact
- Ruben Antonio Tapia Vargas left X-Square Capital for Mml Investors Services, Llc (registered 2022-09-30)May 11, 2022 · Advisor changed firm · fact
- X-Square Capital reported RAUM $270.4M, down 28% from $373.5M (2021-07-02 to 2022-03-03)Mar 3, 2022 · RAUM change · derived
- Antonio Manuel Moreda (Executive Vice President, Portfolio Manager) no longer on Schedule A of X-Square Capital (listed 2018-07-30, absent 2019-03-28)Mar 28, 2019 · Control person left · inference
- X-Square Capital reported RAUM $396.1M, up 51% from $262.0M (2018-07-30 to 2019-03-28)Mar 28, 2019 · RAUM change · derived
- X-Square Capital reported RAUM $262.0M, up 85% from $141.5M (2017-03-30 to 2018-03-30)Mar 30, 2018 · RAUM change · derived
- X-Square Capital filed its initial SEC registration (Form ADV)Mar 15, 2013 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- X-Square Capital · Independent Sponsorsshared crd · capital_provider
- X-Square Capital · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- pr.linkedin.com/company/x2-square-capitalreportedpublic record, Form ADV, Sep 18, 2026
- Website
- x2etfs.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 787-282-1621reportedpublic record, Form ADV, Apr 13, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Other adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $98.9Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026