Managers / Q1 2026
Square Wave Capital, LLC
CIK 0002077145 · 55 PROSPECT STREET, SUITE 310, BROOKLYN, NY, 11201 · (203) 733-6139
Summary
Square Wave Capital, LLC reported $413M in U.S.-listed holdings across 12 positions for Q1 2026.
Its largest position, MAR, represents 17.0% of the portfolio.
Compared with Q4 2025, the fund opened 5 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 87.6% · $362M
- Other · 12.4% · $51M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ATDATI INC | NEW | +366.4K | 366.4K | +$53M | $53M |
| ASML HLDG NV | NEW | +38.7K | 38.7K | +$51M | $51M |
| MTZMASTEC INC | NEW | +60.6K | 60.6K | +$19M | $19M |
| CRSCARPENTER TECHNOLOGY CORP | NEW | +46.0K | 46.0K | +$18M | $18M |
| MUMICRON TECHNOLOGY INC | NEW | +26.3K | 26.3K | +$9M | $9M |
| EFXEQUIFAX INC | SOLD OUT | −165.0K | 0 | −$36M | $0 |
| AXONAXON ENTERPRISE INC | SOLD OUT | −5.3K | 0 | −$3M | $0 |
| VEEVVEEVA SYS INC | TRIMMED | −227.3K | 25.2K | −$52M | $4M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MARMARRIOTT INTL INC NEWhistory → | CL A | 16.95% | $70M | 214.2K |
| 2 | TWTRADEWEB MKTS INChistory → | CL A | 14.08% | $58M | 494.8K |
| 3 | AMZNAMAZON COM INChistory → | COM | 13.27% | $55M | 263.4K |
| 4 | ATDATI INChistory → | COM | 12.89% | $53M | 366.4K |
| 5 | ASML HLDG NV | N Y REGISTRY SHS | 12.37% | $51M | 38.7K |
| 6 | DUTMOODYS CORPhistory → | COM | 9.13% | $38M | 86.5K |
| 7 | GOOGLALPHABET INChistory → | CAP STK CL A | 7.15% | $30M | 102.8K |
| 8 | MTZMASTEC INChistory → | COM | 4.72% | $19M | 60.6K |
| 9 | CRSCARPENTER TECHNOLOGY CORPhistory → | COM | 4.39% | $18M | 46.0K |
| 10 | MUMICRON TECHNOLOGY INChistory → | COM | 2.15% | $9M | 26.3K |
| 11 | FICOFAIR ISAAC CORPhistory → | COM | 1.83% | $8M | 7.1K |
| 12 | VEEVVEEVA SYS INChistory → | CL A COM | 1.07% | $4M | 25.2K |
Filing History
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.