Square Wave Capital, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Square Wave Capital, LLC reported 7 stock positions worth $104.3 million. Its top holding was Axon Enterprise (AXON) at 15.8% of the portfolio, followed by Tradeweb Markets Class A (TW, 15.0%) and Veeva Systems Class A (VEEV, 14.8%). Compared with Q1 2025, it sold out of 1, added to 6 and reduced 1. The biggest buy was Veeva Systems Class A (VEEV, shares +8%) and the biggest sale an exit from Salesforce (CRM).
- Most Recent 13F
- Q2 2026
- Location
- BROOKLYN, NY
- CIK
- 0002077145
- Portfolio Value
- $104.3M (Q2 2025)
- SEC Filing
- 0001213900-25-076212 ↗ filed Aug 14, 2025
Holdings Value
Holdings 7 stocks · $104.3M
| AXON Axon Enterprise Inc. | 15.82% | 19,915 | $16.5M | Reduce -19.1% |
| TW Tradeweb Markets Inc. Class A | 15.01% | 106,870 | $15.6M | Add +0.6% |
| VEEV Veeva Systems Inc. Class A | 14.76% | 53,426 | $15.4M | Add +7.8% |
| EFX Equifax Inc. | 14.67% | 58,962 | $15.3M | Add +2.9% |
| FICO Fair Isaac Corp. | 14.52% | 8,284 | $15.1M | Add +3.3% |
| MCO Moody's Corp. | 13.31% | 27,669 | $13.9M | Add +14.6% |
| IT Gartner Inc. | 11.91% | 30,728 | $12.4M | Add +8.8% |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 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 |