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SWC

Square Wave Capital Portfolio holdings

AUM $413M
1-Year Est. Return 15.36%
This Fund
S&P 500
This Quarter Est. Return
+8.24%
1 Year Est. Return
+15.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$413M
AUM Growth
-$16.8M
Cap. Flow
+$8.91M
Cap. Flow %
2.15%
Top 10 Hldgs %
97.1%
Holding
14
New
5
Increased
1
Reduced
6
Closed
2

Top Buys

Rank Stock Value
1
ASML icon
ASML
ASML
+$53M
2
ATI icon
ATI
ATI
+$51M
3
AMZN icon
Amazon
AMZN
+$16.9M
4
CRS icon
Carpenter Technology
CRS
+$16.8M
5
MTZ icon
MasTec
MTZ
+$16.4M

Top Sells

Rank Stock Value
1
FICO icon
Fair Isaac
FICO
+$47.7M
2
VEEV icon
Veeva Systems
VEEV
+$44.7M
3
EFX icon
Equifax
EFX
+$35.8M
4
MCO icon
Moody's
MCO
+$13.8M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$5.34M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 30.22%
2 Financials 23.21%
3 Industrials 22%
4 Technology 16.35%
5 Communication Services 7.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MAR icon
1
Marriott International
MAR
$98.7B
$70.1M 16.95%
214,240
-4,860
-2% -$1.6M
TW icon
2
Tradeweb Markets
TW
$21.3B
$58.2M 14.08%
494,815
-30,785
-6% -$3.52M
AMZN icon
3
Amazon
AMZN
$2.5T
$54.9M 13.27%
263,400
+76,700
+41% +$16.9M
ATI icon
4
ATI
ATI
$27B
$53.3M 12.89%
+366,400
New +$51M
ASML icon
5
ASML
ASML
$675B
$51.1M 12.37%
+38,700
New +$53M
MCO icon
6
Moody's
MCO
$81.7B
$37.7M 9.13%
86,500
-29,200
-25% -$13.8M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$3.91T
$29.6M 7.15%
102,800
-17,000
-14% -$5.34M
MTZ icon
8
MasTec
MTZ
$26.7B
$19.5M 4.72%
+60,600
New +$16.4M
CRS icon
9
Carpenter Technology
CRS
$30B
$18.1M 4.39%
+46,000
New +$16.8M
MU icon
10
Micron Technology
MU
$1.04T
$8.89M 2.15%
+26,300
New +$10.3M
FICO icon
11
Fair Isaac
FICO
$28.7B
$7.58M 1.83%
7,100
-34,800
-83% -$47.7M
VEEV icon
12
Veeva Systems
VEEV
$30.3B
$4.43M 1.07%
25,200
-227,300
-90% -$44.7M
AXON
13
Axon Enterprise
AXON
$40.5B
– –
-5,317
Closed -$3.02M
EFX icon
14
Equifax
EFX
$20.3B
– –
-165,020
Closed -$35.8M

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VCP
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LCM
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CW
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MIA
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TCCM
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Square Wave Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Square Wave Capital held 14 positions worth $413M, down 3.9% from $430M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Square Wave Capital's Q1 2026 filing shows 5 new, 1 increased, 6 reduced and 2 closed positions. Its largest new stake was ASML: 38,700 shares worth $51.1M. The largest sale was Fair Isaac, an estimated $47.7M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 30% of assets, up from 26% a quarter earlier, followed by Financials and Industrials.

  • Square Wave Capital's largest Q1 2026 buy was ASML: 38,700 shares worth $51.1M.
  • Square Wave Capital added most to Amazon in Q1 2026, an estimated $16.9M increase.
  • Square Wave Capital's biggest Q1 2026 reduction was Fair Isaac, cutting an estimated $47.7M.
  • Square Wave Capital fully exited Equifax in Q1 2026, selling an estimated $35.8M.
  • Square Wave Capital's ten largest holdings make up 97% of its $413M portfolio in Q1 2026.
  • Square Wave Capital opened 5 new positions and closed 2 in Q1 2026.
  • Square Wave Capital's portfolio value fell 3.9% quarter-over-quarter to $413M.

Based on Square Wave Capital's 13F filing for Q1 2026, filed 15 May 2026.