Square Wave Capital, LLC
Square Wave Capital, LLC is a hedge fund and investment adviser founded by Ryan Ashayeri in October 2021, headquartered in Brooklyn, New York. The firm manages approximately $104.7 million in assets as of March 2025 and operates with a very small team of 3 employees. Square Wave Capital primarily serves pooled investment vehicles and other institutional investors, focusing on delivering sophisticated investment solutions through a concentrated portfolio.
Investment Strategy
Square Wave Capital employs an actively managed, high-conviction strategy focused on U.S. public equities, building a concentrated portfolio with significant positions in sectors such as technology, financials, and business services. The firm is known for fundamental analysis and dynamic portfolio rebalancing, with top holdings in companies like Tradeweb Markets, Fair Isaac, Equifax, Axon Enterprise, and Gartner. Its investment approach emphasizes capital preservation, risk-adjusted returns, and opportunistic trading based on quantitative and qualitative research.
Top Holdings
Equity Positions (7)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A AXON | AXON ENTERPRISE INC | 15.82% | $16.5M | 19,915 | $594.32 | $827.94 | +$3.5M |
T TW | TRADEWEB MKTS INC | 15.01% | $15.6M | 106,870 | $132.18 | $146.40 | -$131.7K |
V VEEV | VEEVA SYS INC | 14.76% | $15.4M | 53,426 | $215.91 | $287.98 | +$3.9M |
E EFX | EQUIFAX INC | 14.67% | $15.3M | 58,962 | $253.00 | $259.37 | +$1.3M |
F FICO | FAIR ISAAC CORP | 14.52% | $15.1M | 8,284 | $1981.42 | $1827.96 | +$360.0K |