Squadron Capital Management LLC reported 31 positions worth $282.30M for the quarter ended Jun 30, 2026, up 28.2% on the prior quarter. It opened 14 new positions, added to 9, trimmed 7 and exited 9. Its largest holding is Relmada Therapeutics, Inc. at 18% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CCCC C4 Therapeutics, Inc. | +4.95M | +220.0% | $23.12M | 11.91% |
| ELVN Enliven Therapeutics, Inc. | +160.0K | – | $8.12M | 2.88% |
| IVA Inventiva S.A. | +1.90M | +355.1% | $7.18M | 3.26% |
| RLAY Relay Therapeutics, Inc. | +297.5K | +44.2% | $5.57M | 6.43% |
| ADAG Adagene Inc. | +1.25M | – | $5.25M | 1.86% |
| KOD Kodiak Sciences Inc. | +120.0K | +31.6% | $4.68M | 6.9% |
| IFRX InflaRx N.V. | +2.00M | – | $4.48M | 1.59% |
| ASMB Assembly Biosciences, Inc. | +160.0K | – | $4.40M | 1.56% |
| CTNM Contineum Therapeutics, Inc. | +260.0K | – | $4.26M | 1.51% |
| CMPS COMPASS Pathways plc | +300.0K | – | $4.25M | 1.5% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| ABVX Abivax S.A. | -130.0K | -100.0% | $14.48M | Exited |
| NKTR Nektar Therapeutics | -125.0K | -100.0% | $8.99M | Exited |
| RLMD Relmada Therapeutics, Inc. | -1.12M | -13.3% | $7.78M | 18.02% |
| ANL Adlai Nortye Group Ltd. | -500.4K | -39.5% | $5.75M | 3.12% |
| GHRS GH Research PLC | -325.0K | -100.0% | $4.57M | Exited |
| ALXO Alx Oncology Holdings Inc | -1.46M | -100.0% | $2.93M | Exited |
| CNTX Context Therapeutics Inc. | -1.10M | -100.0% | $2.88M | Exited |
| EWTX Edgewise Therapeutics, Inc. | -60.0K | -17.1% | $2.44M | 4.17% |
| IKT Inhibikase Therapeutics, Inc. | -500.0K | -14.3% | $1.02M | 2.16% |
| TXMD TherapeuticsMD, Inc. | -420.4K | -100.0% | $849.25K | Exited |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| ELVN Enliven Therapeutics, Inc. | +160.0K | $8.12M | 2.88% |
| ADAG Adagene Inc. | +1.25M | $5.25M | 1.86% |
| IFRX InflaRx N.V. | +2.00M | $4.48M | 1.59% |
| ASMB Assembly Biosciences, Inc. | +160.0K | $4.40M | 1.56% |
| CTNM Contineum Therapeutics, Inc. | +260.0K | $4.26M | 1.51% |
| CMPS COMPASS Pathways plc | +300.0K | $4.25M | 1.5% |
| DFTX Definium Therapeutics, Inc. | +85.0K | $4.00M | 1.42% |
| BIOA BioAge Labs, Inc. | +155.0K | $3.80M | 1.35% |
| PRQR ProQR Therapeutics N.V. | +1.51M | $2.81M | 0.996% |
| RZLT Rezolute, Inc. | +403.4K | $2.10M | 0.743% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| ABVX Abivax S.A. | -130.0K | $14.48M | 6.58% |
| NKTR Nektar Therapeutics | -125.0K | $8.99M | 4.09% |
| GHRS GH Research PLC | -325.0K | $4.57M | 2.08% |
| ALXO Alx Oncology Holdings Inc | -1.46M | $2.93M | 1.33% |
| CNTX Context Therapeutics Inc. | -1.10M | $2.88M | 1.31% |
| TXMD TherapeuticsMD, Inc. | -420.4K | $849.25K | 0.386% |
| SPRB Spruce Biosciences, Inc. | -12.2K | $797.27K | 0.362% |
| HOWL Werewolf Therapeutics, Inc. | -563.5K | $469.20K | 0.213% |
| NEUP Neuphoria Therapeutics Inc. | -76.7K | $312.28K | 0.142% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | RLMD Relmada Therapeutics, Inc. | Healthcare | 7.35M | $50.86M | 18.02% | -1.12M | -13.3% | Reduced | 6.54% |
| 2 | CCCC C4 Therapeutics, Inc. | Healthcare | 7.20M | $33.62M | 11.91% | +4.95M | +220.0% | Added | 5.51% |
| 3 | COGT Cogent Biosciences, Inc. | Healthcare | 865.0K | $33.48M | 11.86% | +77.5K | +9.8% | Added | 0.5% |
| 4 | KOD Kodiak Sciences Inc. | Healthcare | 500.0K | $19.48M | 6.9% | +120.0K | +31.6% | Added | 0.8% |
| 5 | RLAY Relay Therapeutics, Inc. | Healthcare | 970.0K | $18.15M | 6.43% | +297.5K | +44.2% | Added | 0.44% |
| 6 | ZNTL Zentalis Pharmaceuticals, Inc. | Healthcare | 3.70M | $17.95M | 6.36% | +69.0K | +1.9% | Added | 5.16% |
| 7 | EWTX Edgewise Therapeutics, Inc. | Healthcare | 290.0K | $11.78M | 4.17% | -60.0K | -17.1% | Reduced | 0.27% |
| 8 | MAZE Maze Therapeutics, Inc. | Healthcare | 335.0K | $10.00M | 3.54% | +77.5K | +30.1% | Added | 0.57% |
| 9 | IVA Inventiva S.A. | Healthcare | 2.44M | $9.20M | 3.26% | +1.90M | +355.1% | Added | 1.3% |
| 10 | ANL Adlai Nortye Group Ltd. | Healthcare | 764.9K | $8.80M | 3.12% | -500.4K | -39.5% | Reduced | 2.23% |
| 11 | ELVN Enliven Therapeutics, Inc. | Healthcare | 160.0K | $8.12M | 2.88% | +160.0K | – | New | 0.22% |
| 12 | PALI Palisade Bio, Inc. | Healthcare | 3.00M | $6.27M | 2.22% | 0 | 0.0% | Unchanged | 1.42% |
| 13 | IKT Inhibikase Therapeutics, Inc. | Healthcare | 3.00M | $6.09M | 2.16% | -500.0K | -14.3% | Reduced | 1.72% |
| 14 | ADAG Adagene Inc. | Healthcare | 1.25M | $5.25M | 1.86% | +1.25M | – | New | 2.64% |
| 15 | IFRX InflaRx N.V. | Healthcare | 2.00M | $4.48M | 1.59% | +2.00M | – | New | 2.97% |
Tip. Select a row to see that position’s full history at Squadron Capital Management.
As of its Q2 2026 13F filing, Squadron Capital Management LLC’s five largest positions were Relmada Therapeutics, Inc. (RLMD) at 18.0%, C4 Therapeutics, Inc. (CCCC) at 11.9%, Cogent Biosciences, Inc. (COGT) at 11.9%, Kodiak Sciences Inc. (KOD) at 6.9%, Relay Therapeutics, Inc. (RLAY) at 6.4% of the reported portfolio.
Squadron Capital Management LLC reported a 13F portfolio worth $282.30M across 31 positions for Q2 2026. That is up 28.2% from the previous quarter.
Its largest purchases by value were C4 Therapeutics, Inc. ($23.12M), Enliven Therapeutics, Inc. ($8.12M), Inventiva S.A. ($7.18M). It opened 14 new positions.
Its largest sales by value were Abivax S.A. ($14.48M), Nektar Therapeutics ($8.99M), Relmada Therapeutics, Inc. ($7.78M). It exited 9 positions entirely.
From the Form 13F-HR reports Squadron Capital Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.