Square Wave Capital, LLC 13F: Quarter-over-Quarter Portfolio Changes
Square Wave Capital, LLC reported a disclosed portfolio value of approximately $670.3 million in its latest SEC Form 13F-HR filing for Q2 2026, up 62.2% quarter on quarter. Over the quarter, the fund initiated 2 new positions, bought more shares in 7 holdings, trimmed 2 holdings, and exited 3 positions.
Square Wave Capital, LLC's top buy was Micron Technology INC (MU) . The fund bought 240.7% more shares, lifting the position's portfolio weight by 13.3 percentage points. Its top sell was Moodys CORP (MCO) . The fund exited the position completely after it had accounted for 9.1% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| INTEL CORP | INTC | 4.8% | History → |
| FTAI AVIATION LTD | FTAI | 3.7% | History → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| MICRON TECHNOLOGY INC | MU | +13.3% | +240.7% | History → |
| CARPENTER TECHNOLOGY CORP | CRS | +7.0% | +169.1% | History → |
| AMAZON.COM INC | AMZN | +-0.5% | +36.2% | History → |
| ASML HLDG NV | ASML | +1.8% | +23.5% | History → |
| ATI INC | ATI | +0.2% | +21.4% | History → |
| MARRIOTT INTERNATIONAL, INC CLASS A | MAR | +-4.1% | +8.4% | History → |
| ALPHABET INC-CL A | GOOGL | +-1.3% | +7.3% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| MASTEC INC | MTZ | -2.9% | 51.3% | Holders → |
| TRADEWEB MKTS INC | TW | -9.9% | 43.4% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| MOODYS CORP | MCO | 9.1% |
| FAIR ISAAC CORP | FICO | 1.8% |
| VEEVA SYS INC | VEEV | 1.1% |
Net Portfolio Value ChangeQ2 2026
- $0.4BPrior quarter
- $0.7BCurrent quarter
- +$0.3BNet delta
- +62.2%% change
Methodology & FAQ
How Square Wave Capital, LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Square Wave Capital, LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Square Wave Capital, LLC buy in Q2 2026?
In Q2 2026, Square Wave Capital, LLC initiated 2 new positions (INTEL CORP (INTC), FTAI AVIATION LTD (FTAI)); bought more shares of MICRON TECHNOLOGY INC (MU), CARPENTER TECHNOLOGY CORP (CRS), AMAZON.COM INC (AMZN), ASML HLDG NV (ASML), ATI INC (ATI) (the largest 5 of 7 adds).
What stocks did Square Wave Capital, LLC sell in Q2 2026?
In Q2 2026, Square Wave Capital, LLC fully sold 3 positions (MOODYS CORP (MCO), FAIR ISAAC CORP (FICO), VEEVA SYS INC (VEEV)); reduced holdings in MASTEC INC (MTZ), TRADEWEB MKTS INC (TW).
Which positions did Square Wave Capital, LLC initiate in Q2 2026?
Square Wave Capital, LLC established 2 new positions in Q2 2026: INTEL CORP (INTC, 4.8%), FTAI AVIATION LTD (FTAI, 3.7%).
Which existing positions saw the largest allocation increases for Square Wave Capital, LLC in Q2 2026?
Of 7 existing positions with share-count increases in Q2 2026, the largest were: MICRON TECHNOLOGY INC (MU, +13.3% weight, +240.7% shares), CARPENTER TECHNOLOGY CORP (CRS, +7.0% weight, +169.1% shares), AMAZON.COM INC (AMZN, +-0.5% weight, +36.2% shares), ASML HLDG NV (ASML, +1.8% weight, +23.5% shares), ATI INC (ATI, +0.2% weight, +21.4% shares), MARRIOTT INTERNATIONAL, INC CLASS A (MAR, +-4.1% weight, +8.4% shares), ALPHABET INC-CL A (GOOGL, +-1.3% weight, +7.3% shares).
Which positions did Square Wave Capital, LLC fully exit in Q2 2026?
Square Wave Capital, LLC fully exited 3 positions in Q2 2026: MOODYS CORP (MCO, last-reported weight 9.1%), FAIR ISAAC CORP (FICO, last-reported weight 1.8%), VEEVA SYS INC (VEEV, last-reported weight 1.1%).
Which existing positions saw the largest allocation reductions for Square Wave Capital, LLC in Q2 2026?
Of 2 existing positions with share-count reductions in Q2 2026, the largest were: MASTEC INC (MTZ, -2.9% weight, -51.3% shares), TRADEWEB MKTS INC (TW, -9.9% weight, -43.4% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.