Squadron Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Squadron Capital Management LLC reported 29 stock positions worth $224.1 million. Its top holding was Relmada Therapeutics (RLMD) at 14.4% of the portfolio, followed by Cogent Biosciences (COGT, 12.4%) and Maze Therapeutics (MAZE, 9.1%).
- Most Recent 13F
- Q2 2026
- Location
- OAK BROOK, IL
- CIK
- 0002050709
- Portfolio Value
- $224.1M (Q4 2025)
- SEC Filing
- 0002050709-26-000010 ↗ filed Feb 17, 2026
Holdings Value
Holdings 29 stocks · $224.1M
| RLMD Relmada Therapeutics Inc. | 14.44% | 6,700,000 | $32.4M | — |
| COGT Cogent Biosciences Inc. | 12.36% | 780,000 | $27.7M | — |
| MAZE Maze Therapeutics Inc. | 9.06% | 490,000 | $20.3M | — |
| ABVX Abivax SA-ADR | 8.73% | 145,000 | $19.6M | — |
| KALV Kalvista Pharmaceuticals Inc. | 5.04% | 700,000 | $11.3M | — |
| PALI Palisade Bio Inc. | 4.72% | 4,500,000 | $10.6M | — |
| EWTX Edgewise Therapeutics Inc. | 3.88% | 350,000 | $8.7M | — |
| IKT Inhibikase Therapeutics Inc. | 3.87% | 4,225,000 | $8.7M | — |
| KOD Kodiak Sciences Inc. | 3.64% | 291,710 | $8.2M | — |
| TERN Terns Pharmaceuticals Inc. | 3.43% | 190,000 | $7.7M | — |
| TARS Tarsus Pharmaceuticals Inc. | 2.92% | 80,000 | $6.6M | — |
| UPB Upstream Bio Inc. | 2.79% | 230,650 | $6.3M | — |
| SPRB Spruce Biosciences Inc. | 2.72% | 70,000 | $6.1M | — |
| XENE Xenon Pharmaceuticals Inc. | 2.11% | 105,551 | $4.7M | — |
| DBVT DBV Technologies SA-Spon ADR | 2.05% | 240,000 | $4.6M | — |
| HELP Cybin Inc. | 1.92% | 525,000 | $4.3M | — |
| LPCN Lipocine Inc. | 1.90% | 530,000 | $4.3M | — |
| BLTE Belite Bio Inc. - ADR | 1.86% | 26,000 | $4.2M | — |
| GHRS GH Research PLC | 1.79% | 315,000 | $4.0M | — |
| EPRX Eupraxia Pharmaceuticals Inc. | 1.68% | 500,000 | $3.8M | — |
| VTYX Ventyx Biosciences Inc. | 1.65% | 410,000 | $3.7M | — |
| NXTC Nextcure Inc. | 1.50% | 236,966 | $3.4M | — |
| WVE Wave Life Sciences Ltd. | 1.33% | 175,000 | $3.0M | — |
| KTTA Pasithea Therapeutics Corp. | 1.21% | 2,100,000 | $2.7M | — |
| CMPS Compass Pathways PLC | 1.20% | 388,287 | $2.7M | — |
| AVTX Avalo Therapeutics Inc. | 1.05% | 130,000 | $2.4M | — |
| IVA Inventiva SA - ADR | 0.62% | 300,000 | $1.4M | — |
| TRAW Traws Pharma Inc. | 0.36% | 713,540 | $806K | — |
| CLYM Climb Bio Inc. | 0.18% | 100,000 | $400K | — |
Options reported separately and not counted above: AVBP calls ($6.8M), VERA calls ($3.0M), ZBIO calls ($1.3M), NTLA calls ($728K).
Portfolio Sells Q4 2025
No earlier filing to compare with.
Portfolio Buys Q4 2025
No earlier filing to compare with.