Squadron Capital Management LLC
Squadron Capital Management LLC reported 34 US-listed holdings worth $292.1 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Relmada Therapeutics Inc. (17.4%), C4 Therapeutics Inc. (11.5%) and Cogent Biosciences Inc. (11.5%). Against the quarter before, it opened 17 positions, added to 9, trimmed 6 and sold out of 13.
The 14 largest of its 34 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +14.5% over the 2 quarters to 30 June 2026, against +9.5% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 17
- Enliven Therapeutics Inc. ELVN$8.1 million
- Adagene Inc. ADAG$5.2 million
- Forte Biosciences Inc. FBRX$4.8 million
- Inflarx NV IFRX$4.5 million
- Assembly Biosciences Inc. ASMB$4.4 million
- Contineum Therapeutics Inc. CTNM$4.3 million
- Compass Pathways PLC CMPS$4.2 million
- Definium Therapeutics Inc. DFTX$4.0 million
and 9 more in the table below
Added to 9
- C4 Therapeutics Inc. CCCC+5.0 million shares · +220%
- Inventiva SA IVA+1.9 million shares · +355%
- Relay Therapeutics Inc. RLAY+297,500 shares · +44%
- Kodiak Sciences Inc. KOD+120,000 shares · +32%
- Cogent Biosciences Inc. COGT+77,508 shares · +10%
- Maze Therapeatics MAZE+77,500 shares · +30%
- Sol Gel Technologies SLGL+21,000 shares · +68%
- Lipocine Inc. New LPCN+360,000 shares · +80%
and 1 more in the table below
Trimmed 6
- Relmada Therapeutics Inc. RLMD-1.1 million shares · -13%
- Adlai Nortye Ltd ANL-500,355 shares · -40%
- Edgewise Therapeutics Inc. EWTX-60,000 shares · -17%
- Inhibikase Therapeutics Inc. IKT-500,000 shares · -14%
- Pasithea Therapeutics Corp. KTTA-1.1 million shares · -52%
- Nextcure Inc. NXTC-200,536 shares · -76%
Sold out of 13
- Kalvista Pharmaceuticals Inc. KALV$19.8 million last quarter
- Abivax SA ABVX$14.5 million last quarter
- Nektar Therapeutics NKTR$9.0 million last quarter
- Scynexis Inc. SCYX$7.0 million last quarter
- Eupraxia Pharmaceuticals Inc. EPRX$4.9 million last quarter
- GH Research PLC GHRS$4.6 million last quarter
- Alx Oncology Holdings Inc. ALXO$2.9 million last quarter
- Context Therapeutics Inc. CNTX$2.9 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Relmada Therapeutics Inc. RLMD | 7.3M | $50.9 million | 17.41% | -1.1M |
| C4 Therapeutics Inc. CCCC | 7.2M | $33.6 million | 11.51% | +5.0M |
| Cogent Biosciences Inc. COGT | 865.0K | $33.5 million | 11.46% | +77.5K |
| Kodiak Sciences Inc. KOD | 500.0K | $19.5 million | 6.67% | +120.0K |
| Relay Therapeutics Inc. RLAY | 970.0K | $18.1 million | 6.21% | +297.5K |
| Zentalis Pharmaceuticals Inc. ZNTL | 3.7M | $17.9 million | 6.14% | +69.0K |
| Edgewise Therapeutics Inc. EWTX | 290.0K | $11.8 million | 4.03% | -60.0K |
| Maze Therapeatics MAZE | 335.0K | $10.0 million | 3.42% | +77.5K |
| Inventiva SA IVA | 2.4M | $9.2 million | 3.15% | +1.9M |
| Adlai Nortye Ltd ANL | 764.9K | $8.8 million | 3.01% | -500.4K |
| Enliven Therapeutics Inc. ELVN | 160.0K | $8.1 million | 2.78% | new |
| Palisade Bio Inc. PALI | 3.0M | $6.3 million | 2.15% | no change |
| Inhibikase Therapeutics Inc. IKT | 3.0M | $6.1 million | 2.08% | -500.0K |
| Adagene Inc. ADAG | 1.2M | $5.2 million | 1.80% | new |
| Forte Biosciences Inc. FBRX | 225.0K | $4.8 million | 1.64% | new |
| Inflarx NV IFRX | 2.0M | $4.5 million | 1.53% | new |
| Assembly Biosciences Inc. ASMB | 160.0K | $4.4 million | 1.51% | new |
| Promis Neurosciences Inc. PMN | 325.0K | $4.3 million | 1.46% | no change |
| Contineum Therapeutics Inc. CTNM | 260.0K | $4.3 million | 1.46% | new |
| Compass Pathways PLC CMPS | 300.0K | $4.2 million | 1.45% | new |
| Definium Therapeutics Inc. DFTX | 85.0K | $4.0 million | 1.37% | new |
| Sol Gel Technologies SLGL | 52.0K | $3.9 million | 1.32% | +21.0K |
| Bioage Labs Inc. BIOA | 155.0K | $3.8 million | 1.30% | new |
| Scynexis Inc. SCYX | 756.9K | $3.1 million | 1.05% | new |
| Proqr Thrapeutics N V PRQR | 1.5M | $2.8 million | 0.96% | new |
| Rezolute Inc. RZLT | 403.4K | $2.1 million | 0.72% | new |
| Lipocine Inc. New LPCN | 810.0K | $2.1 million | 0.71% | +360.0K |
| Cue Biopharma Inc. Com CUE | 50.0K | $1.6 million | 0.54% | new |
| CalciMedica, Inc. (calc) CALC | 1.2M | $1.3 million | 0.44% | new |
| Quince Therapeutics Inc. Com QNCX | 40.4K | $734,421 | 0.25% | new |
| Pasithea Therapeutics Corp. KTTA | 1.0M | $515,400 | 0.18% | -1.1M |
| Inmed Pharmaceuticals Inc. INM | 325.0K | $503,750 | 0.17% | new |
| Neumora Therapeutics Inc. NMRA | 100.0K | $170,000 | 0.06% | new |
| Nextcure Inc. NXTC | 64.5K | $103,142 | 0.04% | -200.5K |
Read more
Change is shares against its 13F for the quarter before; the 13 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| Arrivent Biopharma Inc. AVBP | Calls | 183.0K | $6.4 million |
| Bioage Labs Inc. BIOA | Calls | 250.0K | $6.1 million |
| Rezolute Inc. RZLT | Calls | 900.0K | $4.7 million |
| Compass Pathways PLC CMPS | Calls | 305.0K | $4.3 million |
| Disc Medicine Inc. IRON | Calls | 30.0K | $2.2 million |
| Zentalis Pharmaceuticals Inc. ZNTL | Calls | 426.0K | $2.1 million |
| C4 Therapeutics Inc. CCCC | Calls | 400.0K | $1.9 million |
| Ultragenyx Pharmaceutical in RARE | Calls | 55.0K | $1.8 million |
| Nuvectis Pharma Inc. NVCT | Calls | 38.7K | $711,693 |
9 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.