Q4 2025 · 13F-HR
Square Wave Capital, LLCholdings as filed
Filed 2026-02-17 · accession 0001213900-26-017018
$430.2M
Reported value
9
Positions
2025-12-31
Period end
The Brief · Square Wave Capital, LLC · Q4 2025
AI · grounded in 13F
Square Wave Capital, LLC established a new position in AMZN valued at $43.1M. The fund also opened a new stake in GOOGL worth $37.5M and increased its holdings in FICO by 48.1%. Conversely, the fund closed its entire position in IT, reducing its exposure by $15.3M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 303250104 | FICO | FAIR ISAAC CORP | $70.8M | 16.5% | 41,900 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $68.0M | 15.8% | 219,100 | Common | SOLE |
| 615369105 | MCO | MOODYS CORP | $59.1M | 13.7% | 115,700 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $56.5M | 13.1% | 525,600 | Common | SOLE |
| 922475108 | VEEV | VEEVA SYS INC | $56.4M | 13.1% | 252,500 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $43.1M | 10.0% | 186,700 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $37.5M | 8.72% | 119,800 | Common | SOLE |
| 294429105 | EFX | EQUIFAX INC | $35.8M | 8.32% | 165,020 | Common | SOLE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $3.0M | 0.70% | 5,317 | 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.