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Squadron Capital Management LLC

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13F filer, CIK 2050709, OAK BROOK, IL

Squadron Capital Management LLC reported $322,245,820 across 43 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 73.03% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002050709-26-000027

Period
2026-06-30
Reported value
$322M
Holdings
43
Top 10 weight
73.03%
New
24
Sold out
18

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CCCCadded+4,950,000$23.1M
ELVNnew+160,000$8.12M
IVAadded+1,900,000$7.18M
RLAYadded+297,500$5.57M
ADAGnew+1,250,000$5.25M

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
KALVexited-985,100-$19.8M
ABVXexited-130,000-$14.5M
NKTRexited-125,000-$8.99M
RLMDreduced-1,124,571-$7.78M
SCYXexited-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.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0002050709-26-000027, largest first. % of portfolio is the value over $292,088,707, 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; 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; 2026Q2: 7,350,000 shares 7,350,000$50.9M17.41%-1,124,571Timeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 2,250,000 shares; 2026Q2: 7,200,000 shares 7,200,000$33.6M11.51%+4,950,000Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 780,000 shares; 2026Q1: 787,492 shares; 2026Q2: 865,000 shares 865,000$33.5M11.46%+77,508Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 291,710 shares; 2026Q1: 380,000 shares; 2026Q2: 500,000 shares 500,000$19.5M6.67%+120,000Timeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 672,500 shares; 2026Q2: 970,000 shares 970,000$18.1M6.21%+297,500Timeline
ZNTLZENTALIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 3,631,000 shares; 2026Q2: 3,700,000 shares 3,700,000$17.9M6.14%+69,000Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 350,000 shares; 2026Q1: 350,000 shares; 2026Q2: 290,000 shares 290,000$11.8M4.03%-60,000Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 490,000 shares; 2026Q1: 257,500 shares; 2026Q2: 335,000 shares 335,000$10M3.42%+77,500Timeline
IVAINVENTIVA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 300,000 shares; 2026Q1: 535,000 shares; 2026Q2: 2,435,000 shares 2,435,000$9.2M3.15%+1,900,000Timeline
ANLADLAI NORTYE GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,265,231 shares; 2026Q2: 764,876 shares 764,876$8.8M3.01%-500,355Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 160,000 shares 160,000$8.12M2.78%newTimeline
PALIPALISADE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 3,000,000 shares 3,000,000$6.27M2.15%0Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 3,000,000 shares 3,000,000$6.09M2.08%-500,000Timeline
ADAGADAGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,250,000 shares 1,250,000$5.25M1.8%newTimeline
FBRXFORTE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 225,000 shares 225,000$4.78M1.64%newTimeline
IFRXINFLARX NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 2,000,000 shares 2,000,000$4.48M1.53%newTimeline
ASMBASSEMBLY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 160,000 shares 160,000$4.4M1.51%newTimeline
PMNPROMIS NEUROSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 324,977 shares; 2026Q2: 324,977 shares 324,977$4.28M1.46%0Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 260,000 shares 260,000$4.26M1.46%newTimeline
CMPSCOMPASS PATHWAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 388,287 shares; 2026Q1: not reported; 2026Q2: 300,000 shares 300,000$4.25M1.45%newTimeline
DFTXDEFINIUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 85,000 shares 85,000$4M1.37%newTimeline
SLGLSOL-GEL TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 31,000 shares; 2026Q2: 52,000 shares 52,000$3.86M1.32%+21,000Timeline
BIOABIOAGE LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 155,000 shares 155,000$3.8M1.3%newTimeline
SCYXSCYNEXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 756,884 shares 756,884$3.08M1.05%newTimeline
PRQRPROQR THRAPEUTICS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,511,496 shares 1,511,496$2.81M0.96%newTimeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 403,410 shares 403,410$2.1M0.72%newTimeline
LPCNLIPOCINE INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 530,000 shares; 2026Q1: 450,000 shares; 2026Q2: 810,000 shares 810,000$2.07M0.71%+360,000Timeline
CUECUE BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 50,000 shares 50,000$1.58M0.54%newTimeline
CALCCALCIMEDICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,244,864 shares 1,244,864$1.28M0.44%newTimeline
QNCXQUINCE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 40,375 shares 40,375$734K0.25%newTimeline
KTTAPASITHEA THERAPEUTICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 1,000,000 shares 1,000,000$515K0.18%-1,100,000Timeline
INMINMED PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 325,000 shares 325,000$504K0.17%newTimeline
NMRANEUMORA THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 100,000 shares 100,000$170K0.06%newTimeline
NXTCNEXTCURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 236,966 shares; 2026Q1: 265,000 shares; 2026Q2: 64,464 shares 64,464$103K0.04%-200,536Timeline

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
AVBPARRIVENT BIOPHARMA INC COMcall183,000$6.36M+73,000
BIOABIOAGE LABS INC Stockcall250,000$6.13Mnew
RZLTREZOLUTE INC COMMON STOCKcall900,000$4.68Mnew
CMPSCOMPASS PATHWAYS PLC SPONSORED ADScall305,000$4.32Mnew
IRONDISC MEDICINE INC Stockcall30,000$2.19Mnew
ZNTLZENTALIS PHARMACEUTICALS INC COMMON STOCKcall426,000$2.07M+26,000
CCCCC4 THERAPEUTICS INC COM STKcall400,000$1.87Mnew
RAREULTRAGENYX PHARMACEUTICAL IN COMcall55,000$1.84Mnew
NVCTNUVECTIS PHARMA INC COMMON STOCKcall38,700$712Knew

Sold out in Q2 2026

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

SecurityShares beforeValue beforeType
KALVKALVISTA PHARMACEUTICALS INC985,100$19.8Mshares
ABVXABIVAX SA130,000$14.5Mshares
NKTRNEKTAR THERAPEUTICS125,000$8.99Mshares
SCYXSCYNEXIS INC7,608,695$6.98Mshares
KALVKALVISTA PHARMACEUTICALS INC315,000$6.34Mcall
EPRXEUPRAXIA PHARMACEUTICALS INC680,000$4.92Mshares
GHRSGH RESEARCH PLC325,000$4.57Mshares
KPTIKARYOPHARM THERAPEUTICS INC750,000$4.18Mput
IDYAIDEAYA BIOSCIENCES INC120,000$4Mput
IDYAIDEAYA BIOSCIENCES INC104,300$3.48Mcall
ALXOALX ONCOLOGY HLDGS INC1,460,000$2.93Mshares
CNTXCONTEXT THERAPEUTICS INC1,100,000$2.88Mshares
RLAYRELAY THERAPEUTICS INC150,000$1.49Mcall
TRAWTRAWS PHARMA INC511,714$936Kshares
TXMDTHERAPEUTICSMD INC420,421$849Kshares
SPRBSPRUCE BIOSCIENCES INC12,200$797Kshares
HOWLWEREWOLF THERAPEUTICS INC563,535$469Kshares
NEUPNEUPHORIA THERAPEUTICS INC76,728$312Kshares

How Q2 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 0002050709-26-000027 base2026-08-14acceptance time not in the bulk data set