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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
-2.1%
1 Year Est. Return
+15.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$93.4M
AUM Growth
-$10.3M
Cap. Flow
-$7.33M
Cap. Flow %
-7.84%
Top 10 Hldgs %
100%
Holding
8
New
–
Increased
4
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
EFX icon
Equifax
EFX
+$2.59M
2
IT icon
Gartner
IT
+$968K
3
TW icon
Tradeweb Markets
TW
+$952K
4
FICO icon
Fair Isaac
FICO
+$443K

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$5.05M
2
VEEV icon
Veeva Systems
VEEV
+$4.4M
3
AXON
Axon Enterprise
AXON
+$2.54M
4
MCO icon
Moody's
MCO
+$281K

Sector Composition

Rank Sector Weight
1 Technology 30%
2 Financials 28.92%
3 Industrials 28.8%
4 Healthcare 12.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TW icon
1
Tradeweb Markets
TW
$21.3B
$15.8M 16.88%
106,274
+7,161
+7% +$952K
FICO icon
2
Fair Isaac
FICO
$28.7B
$14.8M 15.82%
8,016
+239
+3% +$443K
EFX icon
3
Equifax
EFX
$20.3B
$14M 14.94%
57,324
+10,307
+22% +$2.59M
AXON
4
Axon Enterprise
AXON
$40.5B
$13M 13.86%
24,627
-4,348
-15% -$2.54M
IT icon
5
Gartner
IT
$9.41B
$11.9M 12.69%
28,245
+1,965
+7% +$968K
VEEV icon
6
Veeva Systems
VEEV
$30.3B
$11.5M 12.28%
49,538
-19,264
-28% -$4.4M
MCO icon
7
Moody's
MCO
$81.7B
$11.2M 12.04%
24,154
-584
-2% -$281K
CRM icon
8
Salesforce
CRM
$134B
$1.39M 1.49%
5,191
-16,247
-76% -$5.05M

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VCP
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LCM
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CW
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TCCM
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Square Wave Capital's Q1 2025 Portfolio in Review

As of Q1 2025, Square Wave Capital held 8 positions worth $93.4M, down 9.9% from $104M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Square Wave Capital withdrew a net $7.33M in Q1 2025, reducing 4 holdings. Its largest reduction was Salesforce, cutting an estimated $5.05M.

By sector, the portfolio is most concentrated in Technology at 30% of assets, down from 34% a quarter earlier, followed by Financials and Industrials.

Against the trend, Square Wave Capital added an estimated $2.59M to Equifax.

  • Square Wave Capital added most to Equifax in Q1 2025, an estimated $2.59M increase.
  • Square Wave Capital's biggest Q1 2025 reduction was Salesforce, cutting an estimated $5.05M.
  • Square Wave Capital's ten largest holdings make up 100% of its $93.4M portfolio in Q1 2025.
  • Square Wave Capital opened 0 new positions and closed 0 in Q1 2025.
  • Square Wave Capital's portfolio value fell 9.9% quarter-over-quarter to $93.4M.

Based on Square Wave Capital's 13F filing for Q1 2025, filed 24 Jul 2025.