Squadron Capital Management LLC — 13F Holdings & Portfolio
CIK 2050709 · latest 13F-HR filed 2026-05-15
Squadron Capital Management LLC manages $272.9M in 13F-reported U.S. long-equity assets across 37 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are RLMD (21.61%), COGT (11.11%), KALV (7.27%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 13 new positions, exited 12, added to 9, and trimmed 8.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$272.9M
Long-equity book
37
Distinct positions
2026-03-31
Filed 2026-05-15
+13 / −12 / ↑9 / ↓8
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- RELMADA THERAPEUTICS INC$26.6M +82.3%
- KALVISTA PHARMACEUTICALS INC$8.5M +75.4%
- KODIAK SCIENCES INC$6.3M +77.6%
- COGENT BIOSCIENCES INC$2.6M +9.4%
- EDGEWISE THERAPEUTICS INC$2.3M +26.9%
Top Trims
- MAZE THERAPEUTICS INC-$12.6M -62.1%
- PALISADE BIO INC-$5.3M -50.4%
- SPRUCE BIOSCIENCES INC-$5.3M -86.9%
- ABIVAX SA-$5.1M -26.0%
- INHIBIKASE THERAPEUTICS INC-$2.8M -32.1%
New Positions
- NEKTAR THERAPEUTICS$9.0M
- ADLAI NORTYE LTD$8.8M
- ZENTALIS PHARMACEUTICALS INC$8.5M
- SCYNEXIS INC$7.0M
- RELAY THERAPEUTICS INC$6.7M
Exited Positions
- TERNS PHARMACEUTICALS INC$7.7M
- TARSUS PHARMACEUTICALS INC$6.6M
- UPSTREAM BIO INC$6.3M
- XENON PHARMACEUTICALS INC$4.7M
- DBV TECHNOLOGIES S A$4.6M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | RELMADA THERAPEUTICS INC | RLMD | 75955J402 | $59.0M | 21.61% | 8,474,571 | SH |
| 2 | COGENT BIOSCIENCES INC | COGT | 19240Q201 | $30.3M | 11.11% | 787,492 | SH |
| 3 | KALVISTA PHARMACEUTICALS INC | KALV | 483497103 | $19.8M | 7.27% | 985,100 | SH |
| 4 | KODIAK SCIENCES INC | KOD | 50015M109 | $14.5M | 5.31% | 380,000 | SH |
| 5 | ABIVAX SA | ABVX | 00370M103 | $14.5M | 5.30% | 130,000 | SH |
| 6 | EDGEWISE THERAPEUTICS INC | EWTX | 28036F105 | $11.0M | 4.04% | 350,000 | SH |
| 7 | NEKTAR THERAPEUTICS | NKTR | 640268306 | $9.0M | 3.30% | 125,000 | SH |
| 8 | ADLAI NORTYE LTD | ANL | 00704R109 | $8.8M | 3.21% | 1,265,231 | SH |
| 9 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 98943L107 | $8.5M | 3.11% | 3,631,000 | SH |
| 10 | MAZE THERAPEUTICS INC | MAZE | 578784100 | $7.7M | 2.82% | 257,500 | SH |
| 11 | SCYNEXIS INC | SCYX | 811292200 | $7.0M | 2.56% | 7,608,695 | SH |
| 12 | RELAY THERAPEUTICS INC | RLAY | 75943R102 | $6.7M | 2.45% | 672,500 | SH |
| 13 | KALVISTA PHARMACEUTICALS INC Call | KALV | 483497103 | $6.3M | 2.32% | 315,000 | SH |
| 14 | C4 THERAPEUTICS INC | CCCC | 12529R107 | $5.9M | 2.17% | 2,250,000 | SH |
| 15 | INHIBIKASE THERAPEUTICS INC | IKT | 45719W205 | $5.9M | 2.15% | 3,500,000 | SH |
| 16 | PALISADE BIO INC | PALI | 696389402 | $5.2M | 1.92% | 3,000,000 | SH |
| 17 | EUPRAXIA PHARMACEUTICALS INC | EPRX | 29842P105 | $4.9M | 1.80% | 680,000 | SH |
| 18 | GH RESEARCH PLC | GHRS | G3855L106 | $4.6M | 1.67% | 325,000 | SH |
| 19 | KARYOPHARM THERAPEUTICS INC Put | KPTI | 48576U205 | $4.2M | 1.53% | 750,000 | SH |
| 20 | PROMIS NEUROSCIENCES INC | PMN | 74346M505 | $4.1M | 1.51% | 324,977 | SH |
| 21 | IDEAYA BIOSCIENCES INC Put | IDYA | 45166A102 | $4.0M | 1.47% | 120,000 | SH |
| 22 | LIPOCINE INC NEW | LPCN | 53630X203 | $3.6M | 1.32% | 450,000 | SH |
| 23 | IDEAYA BIOSCIENCES INC Call | IDYA | 45166A102 | $3.5M | 1.27% | 104,300 | SH |
| 24 | INVENTIVA SA | IVA | 46124U107 | $3.0M | 1.09% | 535,000 | SH |
| 25 | ALX ONCOLOGY HLDGS INC | ALXO | 00166B105 | $2.9M | 1.07% | 1,460,000 | SH |
| 26 | CONTEXT THERAPEUTICS INC | CNTX | 21077P108 | $2.9M | 1.06% | 1,100,000 | SH |
| 27 | NEXTCURE INC | NXTC | 65343E207 | $2.8M | 1.04% | 265,000 | SH |
| 28 | ARRIVENT BIOPHARMA INC Call | AVBP | 04272N102 | $2.5M | 0.93% | 110,000 | SH |
| 29 | SOL-GEL TECHNOLOGIES LTD | SLGL | M8694L137 | $2.5M | 0.90% | 31,000 | SH |
| 30 | PASITHEA THERAPEUTICS CORP | KTTA | 70261F202 | $1.6M | 0.57% | 2,100,000 | SH |
| 31 | RELAY THERAPEUTICS INC Call | RLAY | 75943R102 | $1.5M | 0.55% | 150,000 | SH |
| 32 | TRAWS PHARMA INC | TRAW | 68232V884 | $936.4K | 0.34% | 511,714 | SH |
| 33 | ZENTALIS PHARMACEUTICALS INC Call | ZNTL | 98943L107 | $936.0K | 0.34% | 400,000 | SH |
| 34 | THERAPEUTICSMD INC | TXMD | 88338N206 | $849.2K | 0.31% | 420,421 | SH |
| 35 | SPRUCE BIOSCIENCES INC | SPRB | 85209E208 | $797.3K | 0.29% | 12,200 | SH |
| 36 | WEREWOLF THERAPEUTICS INC | HOWL | 95075A107 | $469.2K | 0.17% | 563,535 | SH |
| 37 | NEUPHORIA THERAPEUTICS INC | NEUP | 64136E102 | $312.3K | 0.11% | 76,728 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $272.9M | 37 | 0002050709-26-000017 |
| 2025-12-31 | 2026-02-17 | $236.0M | 33 | 0002050709-26-000010 |