Q3 2025 · 13F-HR
Square Wave Capital, LLCholdings as filed
Filed 2025-11-14 · accession 0001213900-25-110488
$273.3M
Reported value
8
Positions
2025-09-30
Period end
The Brief · Square Wave Capital, LLC · Q3 2025
AI · grounded in 13F
Square Wave Capital, LLC established a new position in MAR valued at $40.9M. The fund also increased its holdings in TW by 291% and FICO by 241.6%. Conversely, the fund trimmed its position in AXON by 64.5%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 922475108 | VEEV | VEEVA SYS INC | $48.2M | 17.6% | 161,831 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $46.4M | 17.0% | 417,863 | Common | SOLE |
| 303250104 | FICO | FAIR ISAAC CORP | $42.4M | 15.5% | 28,300 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $40.9M | 15.0% | 157,100 | Common | SOLE |
| 294429105 | EFX | EQUIFAX INC | $37.7M | 13.8% | 146,897 | Common | SOLE |
| 615369105 | MCO | MOODYS CORP | $37.4M | 13.7% | 78,488 | Common | SOLE |
| 366651107 | IT | GARTNER INC | $15.3M | 5.60% | 58,198 | Common | SOLE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $5.1M | 1.86% | 7,065 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.