# Square Wave Partners, L.P.

> Institutional holdings reported to the SEC as of Q1 2025 on Form 13F. CIK 1947907. Source: https://holderbook.com/funds/1947907-square-wave-partners-l-p/

- Reported value: $93.4M
- Positions: 8
- Weight of the ten largest: 100.0%
- Filed: 2025-05-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TRADEWEB MKTS INC | [TW](https://holderbook.com/stocks/TW/) | $15.8M | 106,274 | 16.9% | 2 |
| FAIR ISAAC CORP | [FICO](https://holderbook.com/stocks/FICO/) | $14.8M | 8,016 | 15.8% | 2 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $14.0M | 57,324 | 14.9% | 2 |
| AXON ENTERPRISE INC | [AXON](https://holderbook.com/stocks/AXON/) | $13.0M | 24,627 | 13.9% | 2 |
| GARTNER INC | [IT](https://holderbook.com/stocks/IT/) | $11.9M | 28,245 | 12.7% | 2 |
| VEEVA SYS INC | [VEEV](https://holderbook.com/stocks/VEEV/) | $11.5M | 49,538 | 12.3% | 2 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $11.2M | 24,154 | 12.0% | 2 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $1.4M | 5,191 | 1.5% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2025 | -3.6% | -4.6% | +0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2025 | $93.4M | 8 |
| Q4 2024 | $103.7M | 8 |