Squadron Capital Management LLC
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Sep 2026 to Oct 2026 | $385,684,763 | Pooled investment vehicles (100%) |
| Apr 2026 to Jun 2026 | — | — |
| Apr 2025 to Mar 2026 | — | — |
| Jan 2025 to Mar 2025 | — | — |
In the firm's words
- Fundamental active:
The investment strategy will focus on fundamental long and short investments in publicly-traded micro- to mid-cap (<$10B market capitalization) development-stage and early commercial therapeutic companies.
- Long/short hedge:
The Adviser may engage in short selling on behalf of the Fund.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Closest benchmark: the Russell 2000 as of 2026-06-30, active share 99.1%; sector active share 90.9% against the combined 13F book's sector weights.
Over time 3 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
38 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Portfolio Trend
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $322,245,417 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CCCC | C4 Therapeutics, Inc. | +4,950,000 | 7,200,000 | $33,624,000 | |
| IVA | Inventiva S.A. | +1,900,000 | 2,435,000 | $9,204,300 | |
| LPCN | Lipocine Inc. | +360,000 | 810,000 | $2,073,600 | |
| RLAY | Relay Therapeutics, Inc. | +297,500 | 970,000 | $18,148,700 | |
| KOD | Kodiak Sciences Inc. | +120,000 | 500,000 | $19,480,000 | |
| COGT | Cogent Biosciences, Inc. | +77,508 | 865,000 | $33,475,500 | |
| MAZE | Maze Therapeutics, Inc. | +77,500 | 335,000 | $9,996,400 | |
| ZNTL | Zentalis Pharmaceuticals, Inc. | +69,000 | 3,700,000 | $17,945,000 | |
| SLGL | Sol-Gel Technologies Ltd. | +21,000 | 52,000 | $3,855,280 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SCYX | Scynexis Inc | −6,851,811 | 756,884 | $3,080,517 | |
| RLMD | Relmada Therapeutics, Inc. | −1,124,571 | 7,350,000 | $50,862,000 | |
| KTTA | Pasithea Therapeutics Corp. | −1,100,000 | 1,000,000 | $515,000 | |
| ANL | Adlai Nortye Group Ltd. | −500,355 | 764,876 | $8,796,074 | |
| IKT | Inhibikase Therapeutics, Inc. | −500,000 | 3,000,000 | $6,090,000 | |
| NXTC | NextCure, Inc. | −200,536 | 64,464 | $103,142 | |
| EWTX | Edgewise Therapeutics, Inc. | −60,000 | 290,000 | $11,782,700 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ELVN | Enliven Therapeutics, Inc. | 160,000 | $8,120,000 | |
| ADAG | Adagene Inc. | 1,250,000 | $5,250,000 | |
| — | 225,000 | $4,781,250 | ||
| IFRX | InflaRx N.V. | 2,000,000 | $4,480,000 | |
| ASMB | Assembly Biosciences, Inc. | 160,000 | $4,396,800 | |
| CTNM | Contineum Therapeutics, Inc. | 260,000 | $4,261,400 | |
| CMPS | COMPASS Pathways plc | 300,000 | $4,245,000 | |
| DFTX | Definium Therapeutics, Inc. | 85,000 | $3,998,400 | |
| BIOA | BioAge Labs, Inc. | 155,000 | $3,799,050 | |
| PRQR | ProQR Therapeutics N.V. | 1,511,496 | $2,811,382 | |
| RZLT | Rezolute, Inc. | 403,410 | $2,097,732 | |
| CUE | Cue Biopharma, Inc. | 50,000 | $1,578,000 | |
| CALC | CalciMedica, Inc. | 1,244,864 | $1,282,209 | |
| IRLA | IRulya Therapeutics Inc. | 40,375 | $734,421 | |
| INM | InMed Pharmaceuticals Inc. | 325,000 | $503,750 | |
| NMRA | Neumora Therapeutics, Inc. | 100,000 | $170,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| — | 985,100 | $19,830,063 | ||
| ABVX | Abivax S.A. | 130,000 | $14,475,500 | |
| NKTR | Nektar Therapeutics | 125,000 | $8,993,750 | |
| EPRX | Eupraxia Pharmaceuticals Inc. | 680,000 | $4,923,200 | |
| GHRS | GH Research PLC | 325,000 | $4,569,500 | |
| ALXO | Alx Oncology Holdings Inc | 1,460,000 | $2,927,300 | |
| CNTX | Context Therapeutics Inc. | 1,100,000 | $2,882,000 | |
| TRAW | Traws Pharma, Inc. | 511,714 | $936,436 | |
| TXMD | TherapeuticsMD, Inc. | 420,421 | $849,250 | |
| SPRB | Spruce Biosciences, Inc. | 12,200 | $797,270 | |
| HOWL | Werewolf Therapeutics, Inc. | 563,535 | $469,424 | |
| NEUP | Neuphoria Therapeutics Inc. | 76,728 | $312,282 | |
| No positions match the current search. | ||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| RLMD |
Relmada Therapeutics, Inc.
Healthcare
|
Reduced | 7,350,000 | $50,862,000 | 15.78% | |
| CCCC |
C4 Therapeutics, Inc.
CALL
+ SHARES
Healthcare
|
Added | 7,600,000 | $35,492,000 | 11.01% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Added | 865,000 | $33,475,500 | 10.39% | |
| ZNTL |
Zentalis Pharmaceuticals, Inc.
CALL
+ SHARES
Healthcare
|
Added | 4,126,000 | $20,011,100 | 6.21% | |
| KOD |
Kodiak Sciences Inc.
Healthcare
|
Added | 500,000 | $19,480,000 | 6.05% | |
| RLAY |
Relay Therapeutics, Inc.
Healthcare
|
Added | 970,000 | $18,148,700 | 5.63% | |
| EWTX |
Edgewise Therapeutics, Inc.
Healthcare
|
Reduced | 290,000 | $11,782,700 | 3.66% | |
| MAZE |
Maze Therapeutics, Inc.
Healthcare
|
Added | 335,000 | $9,996,400 | 3.10% | |
| BIOA |
BioAge Labs, Inc.
CALL
+ SHARES
Healthcare
|
NEW | 405,000 | $9,926,550 | 3.08% | |
| IVA |
Inventiva S.A.
Healthcare
|
Added | 2,435,000 | $9,204,300 | 2.86% | |
| ANL |
Adlai Nortye Group Ltd.
Healthcare
|
Reduced | 764,876 | $8,796,074 | 2.73% | |
| CMPS |
COMPASS Pathways plc
CALL
+ SHARES
Healthcare
|
NEW | 605,000 | $8,560,750 | 2.66% | |
| ELVN |
Enliven Therapeutics, Inc.
Healthcare
|
NEW | 160,000 | $8,120,000 | 2.52% | |
| RZLT |
Rezolute, Inc.
CALL
+ SHARES
Healthcare
|
NEW | 1,303,410 | $6,777,732 | 2.10% | |
| AVBP |
ArriVent BioPharma, Inc.
CALL
Healthcare
|
Added | 183,000 | $6,357,420 | 1.97% | |
| PALI |
Palisade Bio, Inc.
Healthcare
|
Held | 3,000,000 | $6,270,000 | 1.95% | |
| IKT |
Inhibikase Therapeutics, Inc.
Healthcare
|
Reduced | 3,000,000 | $6,090,000 | 1.89% | |
| ADAG |
Adagene Inc.
Healthcare
|
NEW | 1,250,000 | $5,250,000 | 1.63% | |
|
|
NEW | 225,000 | $4,781,250 | 1.48% | ||
| IFRX |
InflaRx N.V.
Healthcare
|
NEW | 2,000,000 | $4,480,000 | 1.39% | |
| ASMB |
Assembly Biosciences, Inc.
Healthcare
|
NEW | 160,000 | $4,396,800 | 1.36% | |
| PMN |
ProMIS Neurosciences Inc.
Healthcare
|
Held | 324,977 | $4,276,697 | 1.33% | |
| CTNM |
Contineum Therapeutics, Inc.
Healthcare
|
NEW | 260,000 | $4,261,400 | 1.32% | |
| DFTX |
Definium Therapeutics, Inc.
Healthcare
|
NEW | 85,000 | $3,998,400 | 1.24% | |
| SLGL |
Sol-Gel Technologies Ltd.
Healthcare
|
Added | 52,000 | $3,855,280 | 1.20% | |
| SCYX |
Scynexis Inc
Healthcare
|
Reduced | 756,884 | $3,080,517 | 0.96% | |
| PRQR |
ProQR Therapeutics N.V.
Healthcare
|
NEW | 1,511,496 | $2,811,382 | 0.87% | |
| IRON |
Disc Medicine, Inc.
CALL
Healthcare
|
NEW | 30,000 | $2,194,200 | 0.68% | |
| LPCN |
Lipocine Inc.
Healthcare
|
Added | 810,000 | $2,073,600 | 0.64% | |
| RARE |
Ultragenyx Pharmaceutical Inc.
CALL
Healthcare
|
NEW | 55,000 | $1,836,450 | 0.57% | |
| CUE |
Cue Biopharma, Inc.
Healthcare
|
NEW | 50,000 | $1,578,000 | 0.49% | |
| CALC |
CalciMedica, Inc.
Healthcare
|
NEW | 1,244,864 | $1,282,209 | 0.40% | |
| IRLA |
IRulya Therapeutics Inc.
Healthcare
|
NEW | 40,375 | $734,421 | 0.23% | |
| NVCT |
Nuvectis Pharma, Inc.
CALL
Healthcare
|
NEW | 38,700 | $711,693 | 0.22% | |
| KTTA |
Pasithea Therapeutics Corp.
Healthcare
|
Reduced | 1,000,000 | $515,000 | 0.16% | |
| INM |
InMed Pharmaceuticals Inc.
Healthcare
|
NEW | 325,000 | $503,750 | 0.16% | |
| NMRA |
Neumora Therapeutics, Inc.
Healthcare
|
NEW | 100,000 | $170,000 | 0.05% | |
| NXTC |
NextCure, Inc.
Healthcare
|
Reduced | 64,464 | $103,142 | 0.03% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.