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Squadron Capital Management LLC

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13F filer, CIK 2050709, OAK BROOK, IL

Squadron Capital Management LLC reported $272,917,617 across 37 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 73.23% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002050709-26-000017

Period
2026-03-31
Reported value
$273M
Holdings
37
Top 10 weight
73.23%
New
19
Sold out
15

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RLMDadded+1,774,571$12.4M
NKTRnew+125,000$8.99M
ANLnew+1,265,231$8.76M
ZNTLnew+3,631,000$8.5M
SCYXnew+7,608,695$6.98M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TERNexited-190,000-$7.68M
MAZEreduced-232,500-$6.94M
TARSexited-80,000-$6.55M
UPBexited-230,650-$6.26M
XENEexited-105,551-$4.73M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0002050709-26-000017, largest first. % of portfolio is the value over $249,959,291, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RLMDRELMADA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 6,700,000 shares; 2026Q1: 8,474,571 shares 8,474,571$59M23.6%+1,774,571Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 780,000 shares; 2026Q1: 787,492 shares 787,492$30.3M12.13%+7,492Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 700,000 shares; 2026Q1: 985,100 shares 985,100$19.8M7.93%+285,100Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 291,710 shares; 2026Q1: 380,000 shares 380,000$14.5M5.8%+88,290Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 145,000 shares; 2026Q1: 130,000 shares 130,000$14.5M5.79%-15,000Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 350,000 shares; 2026Q1: 350,000 shares 350,000$11M4.41%0Timeline
NKTRNEKTAR THERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 125,000 shares 125,000$8.99M3.6%newTimeline
ANLADLAI NORTYE GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,265,231 shares 1,265,231$8.76M3.5%newTimeline
ZNTLZENTALIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 3,631,000 shares 3,631,000$8.5M3.4%newTimeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 490,000 shares; 2026Q1: 257,500 shares 257,500$7.69M3.08%-232,500Timeline
SCYXSCYNEXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 7,608,695 shares 7,608,695$6.98M2.79%newTimeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 672,500 shares 672,500$6.69M2.68%newTimeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 2,250,000 shares 2,250,000$5.92M2.37%newTimeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 4,225,000 shares; 2026Q1: 3,500,000 shares 3,500,000$5.88M2.35%-725,000Timeline
PALIPALISADE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 4,500,000 shares; 2026Q1: 3,000,000 shares 3,000,000$5.25M2.1%-1,500,000Timeline
EPRXEUPRAXIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 500,000 shares; 2026Q1: 680,000 shares 680,000$4.92M1.97%+180,000Timeline
GHRSGH RESEARCH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 315,000 shares; 2026Q1: 325,000 shares 325,000$4.57M1.83%+10,000Timeline
PMNPROMIS NEUROSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 324,977 shares 324,977$4.13M1.65%newTimeline
LPCNLIPOCINE INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 530,000 shares; 2026Q1: 450,000 shares 450,000$3.6M1.44%-80,000Timeline
IVAINVENTIVA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 300,000 shares; 2026Q1: 535,000 shares 535,000$2.97M1.19%+235,000Timeline
ALXOALX ONCOLOGY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,460,000 shares 1,460,000$2.93M1.17%newTimeline
CNTXCONTEXT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,100,000 shares 1,100,000$2.88M1.15%newTimeline
NXTCNEXTCURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 236,966 shares; 2026Q1: 265,000 shares 265,000$2.83M1.13%+28,034Timeline
SLGLSOL-GEL TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 31,000 shares 31,000$2.46M0.98%newTimeline
KTTAPASITHEA THERAPEUTICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 2,100,000 shares; 2026Q1: 2,100,000 shares 2,100,000$1.56M0.62%0Timeline
TRAWTRAWS PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 713,540 shares; 2026Q1: 511,714 shares 511,714$936K0.37%-201,826Timeline
TXMDTHERAPEUTICSMD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 420,421 shares 420,421$849K0.34%newTimeline
SPRBSPRUCE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 70,000 shares; 2026Q1: 12,200 shares 12,200$797K0.32%-57,800Timeline
HOWLWEREWOLF THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 563,535 shares 563,535$469K0.19%newTimeline
NEUPNEUPHORIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 76,728 shares 76,728$312K0.12%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
KALVKALVISTA PHARMACEUTICALS INC COMcall315,000$6.34Mnew
KPTIKARYOPHARM THERAPEUTICS INC COMMON STOCKput750,000$4.18Mnew
IDYAIDEAYA BIOSCIENCES INC Stockput120,000$4Mnew
IDYAIDEAYA BIOSCIENCES INC Stockcall104,300$3.48Mnew
AVBPARRIVENT BIOPHARMA INC COMcall110,000$2.54M-228,000
RLAYRELAY THERAPEUTICS INC Stockcall150,000$1.49Mnew
ZNTLZENTALIS PHARMACEUTICALS INC COMMON STOCKcall400,000$936Knew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TERNTERNS PHARMACEUTICALS INC190,000$7.68Mshares
TARSTARSUS PHARMACEUTICALS INC80,000$6.55Mshares
UPBUPSTREAM BIO INC230,650$6.26Mshares
XENEXENON PHARMACEUTICALS INC105,551$4.73Mshares
DBVTDBV TECHNOLOGIES S A240,000$4.6Mshares
HELPCYBIN INC525,000$4.29Mshares
BLTEBELITE BIO INC26,000$4.16Mshares
VTYXVENTYX BIOSCIENCES INC410,000$3.7Mshares
VERAVERA THERAPEUTICS INC60,000$3.04Mcall
WVEWAVE LIFE SCIENCES LTD175,000$2.98Mshares
CMPSCOMPASS PATHWAYS PLC388,287$2.68Mshares
AVTXAVALO THERAPEUTICS INC130,000$2.36Mshares
ZBIOZENAS BIOPHARMA INC36,000$1.31Mcall
NTLAINTELLIA THERAPEUTICS INC81,000$728Kcall
CLYMCLIMB BIO INC100,000$400Kshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0002050709-26-000017 base2026-05-15acceptance time not in the bulk data set