Square Wave Capital, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed July 24, 2025), Square Wave Capital, LLC reported 8 stock positions worth $93.4 million. Its top holding was Tradeweb Markets Class A (TW) at 16.9% of the portfolio, followed by Fair Isaac (FICO, 15.8%) and Equifax (EFX, 14.9%). Compared with Q4 2024, it added to 4 and reduced 4. The biggest buy was Tradeweb Markets Class A (TW, shares +7%) and the biggest sale Salesforce (CRM, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- BROOKLYN, NY
- CIK
- 0002077145
- Portfolio Value
- $93.4M (Q1 2025)
- SEC Filing
- 0001213900-25-067379 ↗ filed Jul 24, 2025
Holdings Value
Holdings 8 stocks · $93.4M
| TW Tradeweb Markets Inc. Class A | 16.88% | 106,274 | $15.8M | Add +7.2% |
| FICO Fair Isaac Corp. | 15.82% | 8,016 | $14.8M | Add +3.1% |
| EFX Equifax Inc. | 14.94% | 57,324 | $14.0M | Add +21.9% |
| AXON Axon Enterprise Inc. | 13.86% | 24,627 | $13.0M | Reduce -15.0% |
| IT Gartner Inc. | 12.69% | 28,245 | $11.9M | Add +7.5% |
| VEEV Veeva Systems Inc. Class A | 12.28% | 49,538 | $11.5M | Reduce -28.0% |
| MCO Moody's Corp. | 12.04% | 24,154 | $11.2M | Reduce -2.4% |
| CRM Salesforce Inc. | 1.49% | 5,191 | $1.4M | Reduce -75.8% |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $670.3M | MU, ASML, ATI, MAR, AMZN |
| Q1 2026 | 12 | $413.4M | MAR, TW, AMZN, ATI, ASML |
| Q4 2025 | 9 | $430.2M | FICO, MAR, MCO, TW, VEEV |
| Q3 2025 | 8 | $273.3M | VEEV, TW, FICO, MAR, EFX |
| Q2 2025 | 7 | $104.3M | AXON, TW, VEEV, EFX, FICO |
| Q1 2025 | 8 | $93.4M | TW, FICO, EFX, AXON, IT |
| Q4 2024 | 8 | $103.7M | AXON, FICO, VEEV, TW, IT |