Square Wave Capital, LLC

Square Wave Capital, LLC is an SEC Form 13F reporting manager that files public 13F reports under CIK #0002077145. The 13F filing record establishes the legal reporting entity and provides quarter-end disclosure of certain “Section 13(f)” securities over which the manager reports investment discretion (typically U.S.-listed equities and certain ADRs; and, when used, certain listed options). Allocator-relevant firm attributes such as the manager’s principal office address and the signing authority for the filing are generally disclosed on the Form 13F cover page and signature block in the SEC filing itself. Those filing pages are the authoritative public source for confirming location and responsible individual(s); they should be reviewed directly for any diligence workflow tied to this manager. Platform lens (secondary): the platform’s 13F History view can be used as a structured index of Square Wave Capital, LLC’s quarterly filings (including any amendments) for efficient historical review, but it does not replace the underlying SEC document.

A definitive, allocator-grade description of Square Wave Capital, LLC’s strategy is not reliably derivable from the entity name and CIK alone without corroborating public disclosures (e.g., the manager’s own statements, Form ADV if applicable, or consistent multi-quarter holdings behavior). While the name “Square Wave” could be consistent with a systematic or quantitative orientation, that is not a confirmable strategy statement on its own. What can be analyzed with high integrity from public data is how the strategy manifests in the disclosed 13F sleeve over time: - Concentration vs. breadth: whether the disclosed book is constructed around a small set of high-conviction positions or a broader basket approach. - ETF and options usage: whether exposures are expressed via broad vehicles (often consistent with tactical allocation overlays) versus predominantly single-name equity selection. - Holding-period signature: whether positions persist across many quarters (suggesting longer-horizon underwriting) or rotate frequently (suggesting more tactical rebalancing). - Factor and theme consistency: whether the holdings repeatedly map to the same factor profile (e.g., growth/quality, value/cyclicals) or vary materially across market regimes. Platform lens (secondary): once the filing history is assembled, a Portfolio Simulator can generate holdings-based historical replication for the disclosed sleeve, including a Simulated Growth Chart, explicitly labeled as 13F-replicated rather than representative of the manager’s total book.

Square Wave Capital, LLC (CIK #0002077145) is publicly identifiable as a Form 13F reporting manager. Beyond that identifier-level certainty, allocator-grade facts such as location and named leadership should be sourced directly from the SEC filing cover pages and signature blocks tied to that CIK. What the 13F record can credibly answer—once multiple quarters are reviewed—is how the manager’s disclosed sleeve is constructed and maintained: - Whether the disclosed book is consistently concentrated or diversified. - Whether exposures are stable through time or show tactical rotation. - Whether sector and factor posture appears persistent or regime-dependent. Platform lens (secondary): begin with 13F Portfolio Composition across quarters to establish the manager’s disclosed posture, then use Performance Backtests Online / Backtesting Service outputs to contextualize how that disclosed sleeve has behaved across different environments. Diagnostic regime question: in periods where equity correlations spike and liquidity tightens, does Square Wave Capital, LLC’s disclosed 13F sleeve tend to become more concentrated and directional, or does it shift toward exposures that historically dampen drawdowns?

For Square Wave Capital, LLC, the central risk framing is the 13F boundary condition: Form 13F is a quarter-end snapshot of certain reportable long positions and may omit shorts, most non-reportable derivatives (especially OTC), cash, and intra-quarter trading. As a result, any risk characterization derived from 13F should be treated as “disclosed long-equity posture,” not total portfolio risk. Within that disclosed sleeve, allocator-relevant risk characteristics that can be evaluated after reviewing multiple quarters of filings include: - Concentration-driven downside: concentrated exposures can create idiosyncratic drawdowns tied to a small number of issuers. - Correlation and crowding: sector clustering can amplify losses in risk-off tapes when correlations rise. - Exposure drift: large quarter-to-quarter composition shifts can create path dependency not visible from a single snapshot. Platform lens (secondary): the platform can quantify the replicated disclosed sleeve’s Volatility Profile and risk-adjusted outcomes such as the Sharpe Ratio, with the explicit caveat that these are estimates based on disclosed 13F snapshots rather than a complete risk book.