Square Wave Capital, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Square Wave Capital, LLC disclosed 9 US equity positions worth $430.2m in its Q4 2025 13F filing. The largest position was FICO at 16.5% of the reported book, followed by MAR and MCO. Against the Q3 2025 filing, it opened 2 new positions, added to 6 and reduced 1 among the top 9 holdings.
What did Square Wave Capital, LLC own in Q4 2025? Top 9 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FICO FAIR ISAAC CORP | Technology | 16.5% | $70.8m | 41,900 | 48% | added |
| 2 | MAR MARRIOTT INTL INC NEW | Consumer Cyclical | 15.8% | $68.0m | 219,100 | 39% | added |
| 3 | MCO MOODYS CORP | Financial Services | 13.7% | $59.1m | 115,700 | 47% | added |
| 4 | TW TRADEWEB MKTS INC | Financial Services | 13.1% | $56.5m | 525,600 | 26% | added |
| 5 | VEEV VEEVA SYS INC | Healthcare | 13.1% | $56.4m | 252,500 | 56% | added |
| 6 | AMZN AMAZON COM INC | Consumer Cyclical | 10.0% | $43.1m | 186,700 | – | new |
| 7 | GOOGL ALPHABET INC | Communication Services | 8.7% | $37.5m | 119,800 | – | new |
| 8 | EFX EQUIFAX INC | Industrials | 8.3% | $35.8m | 165,020 | 12% | added |
| 9 | AXON AXON ENTERPRISE INC | Industrials | 0.7% | $3.0m | 5,317 | -25% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.