{
  "crd_number": 318517,
  "slug": "square-wave-capital-brooklyn-ny-318517",
  "primary_business_name": "SQUARE WAVE CAPITAL",
  "legal_name": "SQUARE WAVE CAPITAL LLC",
  "dbas": [],
  "city": "Brooklyn",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-02-22",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 428833000.0,
  "raum_discretionary": 428833000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 4,
  "advisory_employees": 3,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 69040000.0,
      "count": 1,
      "description": "INSTITUTIONAL ACCOUNT"
    },
    "pooled_investment_vehicles": {
      "raum": 359793000.0,
      "count": 2
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://linkedin.com/company/square-wave-capital",
    "https://squarewavecapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/318517",
  "city_as_filed": "BROOKLYN",
  "url": "https://advisorcensus.com/firm/square-wave-capital-brooklyn-ny-318517",
  "display_name": "Square Wave Capital",
  "summary": "Square Wave Capital is an SEC-registered investment advisory firm in Brooklyn, NY, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Square Wave Capital (CRD 318517): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Square Wave Capital compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Square Wave Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Square Wave Capital located?",
      "a": "Square Wave Capital's principal office is in Brooklyn, NY, according to its Form ADV."
    },
    {
      "q": "Is Square Wave Capital registered with the SEC or a state?",
      "a": "Square Wave Capital is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 318517."
    },
    {
      "q": "How much does Square Wave Capital manage?",
      "a": "Square Wave Capital reports $428,833,000 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Square Wave Capital's assets and staff changed since 2022?",
      "a": "In the Form ADV data for Square Wave Capital: Regulatory assets under management: $27,259,196 in the October 2022 data and $428,833,000 in the October 2026 data, up 1473%. Total employees: 3 in October 2022 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Square Wave Capital serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2); other (1)."
    },
    {
      "q": "Which custodians does Square Wave Capital use?",
      "a": "Square Wave Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC and Morgan Stanley & Co., LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Square Wave Capital report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/318517"
    },
    {
      "q": "What changed in Square Wave Capital's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 2 to 3. Regulatory assets under management went from $104,721,000 to $428,833,000 (+310%)."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 27259196.0,
      "total_employees": 3,
      "filing_date": "2022-06-16"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 38458071.0,
      "total_employees": 3,
      "filing_date": "2023-02-14"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 66747718.0,
      "total_employees": 3,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 104721000.0,
      "total_employees": 3,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 428833000.0,
      "total_employees": 4,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 2 to 3.",
        "Regulatory assets under management went from $104,721,000 to $428,833,000 (+310%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Fidelity Brokerage Services LLC",
      "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC",
      "affiliated": false
    },
    {
      "name": "Morgan Stanley & Co., LLC",
      "name_as_filed": "MORGAN STANLEY & CO., LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/square-wave-capital-brooklyn-ny-318517.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 359793000.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 1,
      "fewer_than_5": false,
      "raum": 69040000.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/318517",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}