Square Wave Partners, L.P.
Filing Date
Global Rank
#5,391
/ 7,982
▼ 65
· as of Mar 2025
Top Industry
Software - Application
17.3%
3Y Alpha vs SPY
-46.4%
Period ended 1 year ago
Filed May 15, 2025 · 1y
2 quarters · since Dec 2024
Clone Performance
Feb 2025–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-36.9%
SPY
+24.3%
Annualised alpha
-46.4%
Max drawdown
−40.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
8 positions · as of Mar 31, 2025 · Δ vs Dec 31, 2024Top Position
16.9%
+0.3 pts
Top 5
74.2%
+3.9 pts
Top 10
100.0%
0.0 pts
HHI
1,410
Diversified+101
Portfolio Trend
2 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 30.0% | $28,031,398 |
| Financial Services | 28.9% | $27,025,714 |
| Industrials | 28.8% | $26,914,403 |
| Healthcare | 12.3% | $11,474,486 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
4 positions
Trimmed
Positions the filer reduced
4 positions
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
8 positions ·
$93,446,001 total
· as of Mar 31, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| TW |
Tradeweb Markets Inc.
Financial Services
|
Added | 106,274 | $15,777,438 | 16.88% | |
| FICO |
Fair Isaac Corp
Technology
|
Added | 8,016 | $14,782,786 | 15.82% | |
| EFX |
Equifax Inc
Industrials
|
Added | 57,324 | $13,961,833 | 14.94% | |
| AXON |
Axon Enterprise, Inc.
Industrials
|
Reduced | 24,627 | $12,952,570 | 13.86% | |
| IT |
Gartner Inc
Technology
|
Added | 28,245 | $11,855,556 | 12.69% | |
| VEEV |
Veeva Systems Inc
Healthcare
|
Reduced | 49,538 | $11,474,486 | 12.28% | |
| MCO |
Moodys Corp /De/
Financial Services
|
Reduced | 24,154 | $11,248,276 | 12.04% | |
| CRM |
Salesforce, Inc.
Technology
|
Reduced | 5,191 | $1,393,056 | 1.49% |