Squadron Capital Management LLC
Portfolio value QoQ: +18.1% 13F does not disclose cash
Top 10 holdings weight66.20%
Top 25 holdings weight90.29%
Positions above 1%27
Effective number of positions15.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 35.22% Est. buys $128,650,902 · sells $104,811,000
New positions24
Increased11
Decreased6
Closed15
Portfolio value
$322.2M
Positions
43
As of
June 30, 2026 Data as of Q2 2026
Performance vs S&P 500
Tracked Q4 2025–Q2 2026
+24.7%
S&P 500 total return (same window)
+8.7%
Excess return
+16.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Sector breakdown
Full portfolio 43 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| RLMD | $50,862,000 | 15.78% | 7,350,000 | $-8,121,014 | Down ×1 | ||
| CCCC | $33,624,000 | 10.43% | 7,200,000 | $27,706,500 | Up ×1 | ||
| COGT | $33,475,500 | 10.39% | 865,000 | $3,164,933 | Up ×2 | ||
| KOD | $19,480,000 | 6.05% | 500,000 | $4,994,400 | Up ×2 | ||
| RLAY | $18,148,700 | 5.63% | 970,000 | $11,457,325 | Up ×1 | ||
| ZNTL | $17,945,000 | 5.57% | 3,700,000 | $9,448,460 | Up ×1 | ||
| EWTX | $11,782,700 | 3.66% | 290,000 | $757,700 | Down ×1 | ||
| MAZE | $9,996,400 | 3.10% | 335,000 | $2,310,025 | Up ×1 | ||
| IVA | $9,204,300 | 2.86% | 2,435,000 | $6,235,050 | Up ×2 | ||
| ANL | $8,796,074 | 2.73% | 764,876 | $40,676 | Down ×1 | ||
| ELVN | $8,120,000 | 2.52% | 160,000 | Up ×1 | |||
| AVBP | $6,357,420 | 1.97% | 183,000 | Call option | $3,819,720 | Up ×1 | |
| PALI | $6,270,000 | 1.95% | 3,000,000 | $1,020,000 | |||
| BIOA | $6,127,500 | 1.90% | 250,000 | Call option | Up ×1 | ||
| IKT | $6,090,000 | 1.89% | 3,000,000 | $210,000 | Down ×2 | ||
| ADAG | $5,250,000 | 1.63% | 1,250,000 | Up ×1 | |||
| FBRX | $4,781,250 | 1.48% | 225,000 | Up ×1 | |||
| RZLT | $4,680,000 | 1.45% | 900,000 | Call option | Up ×1 | ||
| IFRX | $4,480,000 | 1.39% | 2,000,000 | Up ×1 | |||
| ASMB | $4,396,800 | 1.36% | 160,000 | Up ×1 | |||
| CMPS | $4,315,750 | 1.34% | 305,000 | Call option | Up ×1 | ||
| PMN | $4,276,697 | 1.33% | 324,977 | $149,489 | |||
| CTNM | $4,261,400 | 1.32% | 260,000 | Up ×1 | |||
| CMPS | $4,245,000 | 1.32% | 300,000 | ||||
| DFTX | $3,998,400 | 1.24% | 85,000 | Up ×1 | |||
| SLGL | $3,855,280 | 1.20% | 52,000 | $1,399,460 | Up ×1 | ||
| BIOA | $3,799,050 | 1.18% | 155,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 811292309) | $3,080,518 | 0.96% | 756,884 | Up ×1 | |||
| PRQR | $2,811,383 | 0.87% | 1,511,496 | Up ×1 | |||
| IRON | $2,194,200 | 0.68% | 30,000 | Call option | Up ×1 | ||
| RZLT | $2,097,732 | 0.65% | 403,410 | Up ×1 | |||
| LPCN | $2,073,600 | 0.64% | 810,000 | $-1,521,900 | Up ×1 | ||
| ZNTL | $2,066,100 | 0.64% | 426,000 | Call option | $1,130,100 | Up ×1 | |
| CCCC | $1,868,000 | 0.58% | 400,000 | Call option | Up ×1 | ||
| RARE | $1,836,450 | 0.57% | 55,000 | Call option | Up ×1 | ||
| Unknown issuer (CUSIP: 22978P205) | $1,578,000 | 0.49% | 50,000 | Up ×1 | |||
| CALC | $1,282,210 | 0.40% | 1,244,864 | Up ×1 | |||
| Unknown issuer (CUSIP: 22053A305) | $734,421 | 0.23% | 40,375 | Up ×1 | |||
| NVCT | $711,693 | 0.22% | 38,700 | Call option | Up ×1 | ||
| KTTA | $515,400 | 0.16% | 1,000,000 | $-1,042,380 | Down ×1 | ||
| INM | $503,750 | 0.16% | 325,000 | Up ×1 | |||
| NMRA | $170,000 | 0.05% | 100,000 | Up ×1 | |||
| NXTC | $103,142 | 0.03% | 64,464 | $-2,727,058 | Down ×1 | ||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| ELVN | $8,120,000 | 160,000 | 2.52% |
| BIOA | $6,127,500 | 250,000 | 1.90% |
| ADAG | $5,250,000 | 1,250,000 | 1.63% |
| FBRX | $4,781,250 | 225,000 | 1.48% |
| RZLT | $4,680,000 | 900,000 | 1.45% |
| IFRX | $4,480,000 | 2,000,000 | 1.39% |
| ASMB | $4,396,800 | 160,000 | 1.36% |
| CMPS | $4,315,750 | 305,000 | 1.34% |
| CTNM | $4,261,400 | 260,000 | 1.32% |
| CMPS | $4,245,000 | 300,000 | 1.32% |
| DFTX | $3,998,400 | 85,000 | 1.24% |
| BIOA | $3,799,050 | 155,000 | 1.18% |
| Unknown issuer (CUSIP: 811292309) | $3,080,518 | 756,884 | 0.96% |
| PRQR | $2,811,383 | 1,511,496 | 0.87% |
| IRON | $2,194,200 | 30,000 | 0.68% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| RLAY | Bought more | +298K | +$11.5M |
| ZNTL | Bought more | +69K | +$9.4M |
| RLMD | Trimmed | -1.1M | -$8.1M |
| IVA | Bought more | +1.9M | +$6.2M |
| KOD | Bought more | +120K | +$5.0M |
| AVBP | Bought more | +73K | +$3.8M |
| COGT | Bought more | +78K | +$3.2M |
| MAZE | Bought more | +78K | +$2.3M |
| LPCN | Bought more | +360K | -$1.5M |
| SLGL | Bought more | +21K | +$1.4M |
2 positions hidden — reported move looks larger than the position itself (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| KALV | June 30, 2026 | 1,300,100 | $26,171,013 | No longer tracked |
| ABVX | June 30, 2026 | 130,000 | $14,475,500 | -31.2% |
| NKTR | June 30, 2026 | 125,000 | $8,993,750 | -39.5% |
| TERN | March 31, 2026 | 190,000 | $7,676,000 | No longer tracked |
| IDYA | June 30, 2026 | 224,300 | $7,473,676 | 2.1% |
| SCYX | June 30, 2026 | 7,608,695 | $6,976,412 | 23.6% |
| TARS | March 31, 2026 | 80,000 | $6,550,400 | 6.1% |
| UPB | March 31, 2026 | 230,650 | $6,262,148 | -46.1% |
| EPRX | June 30, 2026 | 680,000 | $4,923,200 | 17.2% |
| XENE | March 31, 2026 | 105,551 | $4,730,796 | -35.4% |
| DBVT | March 31, 2026 | 240,000 | $4,600,800 | -50.0% |
| GHRS | June 30, 2026 | 325,000 | $4,569,500 | -17.5% |
| HELP | March 31, 2026 | 525,000 | $4,294,500 | 137.9% |
| KPTI | June 30, 2026 | 750,000 | $4,177,500 | -93.1% |
| BLTE | March 31, 2026 | 26,000 | $4,158,960 | -0.2% |
| VTYX | March 31, 2026 | 410,000 | $3,702,300 | No longer tracked |
| VERA | March 31, 2026 | 60,000 | $3,038,400 | -25.9% |
| WVE | March 31, 2026 | 175,000 | $2,975,000 | -48.3% |
| ALXO | June 30, 2026 | 1,460,000 | $2,927,300 | -41.5% |
| CNTX | June 30, 2026 | 1,100,000 | $2,882,000 | -39.3% |
| CMPS | March 31, 2026 | 388,287 | $2,679,180 | 109.8% |
| AVTX | March 31, 2026 | 130,000 | $2,360,800 | -2.2% |
| ZBIO | March 31, 2026 | 36,000 | $1,307,160 | 42.4% |
| TRAW | June 30, 2026 | 511,714 | $936,437 | -36.2% |
| TXMD | June 30, 2026 | 420,421 | $849,250 | -9.0% |
| SPRB | June 30, 2026 | 12,200 | $797,270 | -15.9% |
| NTLA | March 31, 2026 | 81,000 | $728,190 | -0.5% |
| HOWL | June 30, 2026 | 563,535 | $469,199 | 158.3% |
| CLYM | March 31, 2026 | 100,000 | $400,000 | 61.3% |
| NEUP | June 30, 2026 | 76,728 | $312,283 | -21.1% |