Managers / Q4 2025 · view latest →
H Squared Management LP
CIK 0002110996 · 888 7TH AVENUE, SUITE 2105, NEW YORK, NY, 10106 · 212-796-4956
Summary
H Squared Management LP reported $173M in U.S.-listed holdings across 11 positions for Q4 2025.
Its largest position, GWRE, represents 11.6% of the portfolio.
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 · 57.1% · $99M
- Other · 32.7% · $57M
- ADR · 10.3% · $18M
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPDR S&P 500 ETF TR | NEW | +83.0K | 83.0K | +$57M | $57M |
| GWREGUIDEWIRE SOFTWARE INC | NEW | +100.0K | 100.0K | +$20M | $20M |
| TTWOTAKE-TWO INTERACTIVE SOFTWAR | NEW | +78.2K | 78.2K | +$20M | $20M |
| POSTPOST HLDGS INC | NEW | +193.0K | 193.0K | +$19M | $19M |
| AMZNAMAZON COM INC | NEW | +82.2K | 82.2K | +$19M | $19M |
| TSMTAIWAN SEMICONDUCTOR MFG LTD | NEW | +58.6K | 58.6K | +$18M | $18M |
| CCKCROWN HLDGS INC | NEW | +98.8K | 98.8K | +$10M | $10M |
| GOOGLALPHABET INC | NEW | +12.4K | 12.4K | +$4M | $4M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GWREGUIDEWIRE SOFTWARE INChistory → | COM | 11.60% | $20M | 100.0K |
| 2 | TTWOTAKE-TWO INTERACTIVE SOFTWARhistory → | COM | 11.55% | $20M | 78.2K |
| 3 | POSTPOST HLDGS INChistory → | COM | 11.03% | $19M | 193.0K |
| 4 | AMZNAMAZON COM INChistory → | COM | 10.95% | $19M | 82.2K |
| 5 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 10.28% | $18M | 58.6K |
| 6 | CCKCROWN HLDGS INChistory → | COM | 5.87% | $10M | 98.8K |
| 7 | GOOGLALPHABET INChistory → | CAP STK CL A | 2.24% | $4M | 12.4K |
| 8 | TRMBTRIMBLE INChistory → | COM | 1.84% | $3M | 40.6K |
| 9 | CRSCARPENTER TECHNOLOGY CORPhistory → | COM | 1.09% | $2M | 6.0K |
| 10 | ATDATI INC | COM | 0.91% | $2M | 13.8K |
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 ↗.