Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox checked   Rule 13d-1(b)
Checkbox not checked   Rule 13d-1(c)
Checkbox not checked   Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person:  Based upon 435,374,795 Class A Common Shares of XP Inc. (the "Issuer") outstanding as of March 31, 2025, as reported in the Issuer's Form 6-K (Interim Consolidated Financial Statements) filed with the Securities and Exchange Commissison on May 21, 2025.


SCHEDULE 13G



 
Mawer Investment Management Ltd.
 
Signature:/s/ David Ragan
Name/Title:David Ragan, Portfolio Manager
Date:07/10/2025