# Squadron Capital Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2050709. Source: https://holderbook.com/funds/2050709-squadron-capital-management-llc/

- Reported value: $322.2M
- Positions: 38
- Weight of the ten largest: 67.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| RELMADA THERAPEUTICS INC | [RLMD](https://holderbook.com/stocks/RLMD/) | $50.9M | 7,350,000 | 15.8% | 3 |
| C4 THERAPEUTICS INC | [CCCC](https://holderbook.com/stocks/CCCC/) | $35.5M | 7,200,000 | 11.0% | 2 |
| COGENT BIOSCIENCES INC | [COGT](https://holderbook.com/stocks/COGT/) | $33.5M | 865,000 | 10.4% | 3 |
| ZENTALIS PHARMACEUTICALS INC | [ZNTL](https://holderbook.com/stocks/ZNTL/) | $20.0M | 3,700,000 | 6.2% | 2 |
| KODIAK SCIENCES INC | [KOD](https://holderbook.com/stocks/KOD/) | $19.5M | 500,000 | 6.0% | 3 |
| RELAY THERAPEUTICS INC | [RLAY](https://holderbook.com/stocks/RLAY/) | $18.1M | 970,000 | 5.6% | 2 |
| EDGEWISE THERAPEUTICS INC | [EWTX](https://holderbook.com/stocks/EWTX/) | $11.8M | 290,000 | 3.7% | 3 |
| MAZE THERAPEUTICS INC | [MAZE](https://holderbook.com/stocks/MAZE/) | $10.0M | 335,000 | 3.1% | 3 |
| BIOAGE LABS INC | [BIOA](https://holderbook.com/stocks/BIOA/) | $9.9M | 155,000 | 3.1% | 1 |
| INVENTIVA SA | [IVA](https://holderbook.com/stocks/IVA/) | $9.2M | 2,435,000 | 2.9% | 3 |
| ADLAI NORTYE LTD | [ANL](https://holderbook.com/stocks/ANL/) | $8.8M | 764,876 | 2.7% | 2 |
| COMPASS PATHWAYS PLC | [CMPS](https://holderbook.com/stocks/CMPS/) | $8.6M | 300,000 | 2.7% | 1 |
| ENLIVEN THERAPEUTICS INC | [ELVN](https://holderbook.com/stocks/ELVN/) | $8.1M | 160,000 | 2.5% | 1 |
| REZOLUTE INC | [RZLT](https://holderbook.com/stocks/RZLT/) | $6.8M | 403,410 | 2.1% | 1 |
| ARRIVENT BIOPHARMA INC | [AVBP](https://holderbook.com/stocks/AVBP/) | $6.4M | 0 | 2.0% | 3 |
| PALISADE BIO INC | [PALI](https://holderbook.com/stocks/PALI/) | $6.3M | 3,000,000 | 1.9% | 3 |
| INHIBIKASE THERAPEUTICS INC | [IKT](https://holderbook.com/stocks/IKT/) | $6.1M | 3,000,000 | 1.9% | 3 |
| ADAGENE INC | [ADAG](https://holderbook.com/stocks/ADAG/) | $5.2M | 1,250,000 | 1.6% | 1 |
| FORTE BIOSCIENCES INC | [FBRX](https://holderbook.com/stocks/FBRX/) | $4.8M | 225,000 | 1.5% | 1 |
| INFLARX NV | [IFRX](https://holderbook.com/stocks/IFRX/) | $4.5M | 2,000,000 | 1.4% | 1 |
| ASSEMBLY BIOSCIENCES INC | [ASMB](https://holderbook.com/stocks/ASMB/) | $4.4M | 160,000 | 1.4% | 1 |
| PROMIS NEUROSCIENCES INC | [PMN](https://holderbook.com/stocks/PMN/) | $4.3M | 324,977 | 1.3% | 2 |
| CONTINEUM THERAPEUTICS INC | [CTNM](https://holderbook.com/stocks/CTNM/) | $4.3M | 260,000 | 1.3% | 1 |
| DEFINIUM THERAPEUTICS INC | [DFTX](https://holderbook.com/stocks/DFTX/) | $4.0M | 85,000 | 1.2% | 1 |
| SOL-GEL TECHNOLOGIES LTD | [SLGL](https://holderbook.com/stocks/SLGL/) | $3.9M | 52,000 | 1.2% | 2 |
| SCYNEXIS INC | - | $3.1M | 756,884 | 1.0% | 1 |
| PROQR THRAPEUTICS N V | [PRQR](https://holderbook.com/stocks/PRQR/) | $2.8M | 1,511,496 | 0.9% | 1 |
| DISC MEDICINE INC | [IRON](https://holderbook.com/stocks/IRON/) | $2.2M | 0 | 0.7% | 1 |
| LIPOCINE INC NEW | [LPCN](https://holderbook.com/stocks/LPCN/) | $2.1M | 810,000 | 0.6% | 3 |
| ULTRAGENYX PHARMACEUTICAL IN | [RARE](https://holderbook.com/stocks/RARE/) | $1.8M | 0 | 0.6% | 1 |
| CUE BIOPHARMA INC | [CUE](https://holderbook.com/stocks/CUE/) | $1.6M | 50,000 | 0.5% | 1 |
| CALCIMEDICA INC | [CALC](https://holderbook.com/stocks/CALC/) | $1.3M | 1,244,864 | 0.4% | 1 |
| QUINCE THERAPEUTICS INC | - | $734.4K | 40,375 | 0.2% | 1 |
| NUVECTIS PHARMA INC | [NVCT](https://holderbook.com/stocks/NVCT/) | $711.7K | 0 | 0.2% | 1 |
| PASITHEA THERAPEUTICS CORP | [KTTA](https://holderbook.com/stocks/KTTA/) | $515.4K | 1,000,000 | 0.2% | 3 |
| INMED PHARMACEUTICALS INC | [INM](https://holderbook.com/stocks/INM/) | $503.8K | 325,000 | 0.2% | 1 |
| NEUMORA THERAPEUTICS INC. | [NMRA](https://holderbook.com/stocks/NMRA/) | $170.0K | 100,000 | 0.1% | 1 |
| NEXTCURE INC | [NXTC](https://holderbook.com/stocks/NXTC/) | $103.1K | 64,464 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.6% | +14.8% | -2.3% | 86% |
| Q1 2026 | +1.7% | -4.6% | +6.3% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $322.2M | 38 |
| Q1 2026 | $272.9M | 33 |
| Q4 2025 | $236.0M | 33 |