We investigate the evolution of a parallel shear flow which has embedded within it a thin, symmetrically positioned layer of stable density stratification. The primary instability of this flow may deliver either Kelvin-Helmholtz waves or Holmboe waves, depending on the strength of the stratification. In this paper we describe a sequence of numerical simulations which reveal for the first time the behavior of the Holmboe wave at finite amplitude and clarify its structural relationship to the Kelvin-Helmholtz wave.