Managers / Q1 2023 · view latest →
M28 Capital Management LP
CIK 0001807489 · 700 CANAL STREET, 1ST FLOOR, STAMFORD, CT, 06902 · 203-516-3730
Summary
M28 Capital Management LP reported $88M in U.S.-listed holdings across 14 positions for Q1 2023.
The portfolio is heavily concentrated: WVE alone accounts for 34.0% of reported value.
The book was largely unchanged from Q4 2022.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 91.4% · $81M
- Other · 7.6% · $7M
- ADR · 1.0% · $904,580
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TGTXTG THERAPEUTICS INC | ADDED | +235.1K | 339.5K | +$4M | $5M |
| SPRINGWORKS THERAPEUTICS INC | ADDED | +87.8K | 197.7K | +$2M | $5M |
| ARWRARROWHEAD PHARMACEUTICALS IN | TRIMMED | −76.5K | 67.4K | −$4M | $2M |
| BBIOBRIDGEBIO PHARMA INC | TRIMMED | −114.3K | 304.7K | +$2M | $5M |
| WVEWAVE LIFE SCIENCES LTD | ADDED | +1.05M | 6.95M | −$11M | $30M |
| STOKSTOKE THERAPEUTICS INC | ADDED | +50.0K | 532.9K | −$18,101 | $4M |
| PROQR THRAPEUTICS N V | HELD | +0 | 1.91M | −$3M | $4M |
| IVVDINVIVYD INC | HELD | +0 | 9.25M | −$3M | $11M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | WVEWAVE LIFE SCIENCES LTDhistory → | SHS | 34.03% | $30M | 6.95M |
| 2 | RCKTROCKET PHARMACEUTICALS INChistory → | COM | 13.99% | $12M | 722.1K |
| 3 | IVVDINVIVYD INChistory → | COM | 12.55% | $11M | 9.25M |
| 4 | TGTXTG THERAPEUTICS INChistory → | COM | 5.77% | $5M | 339.5K |
| 5 | SPRINGWORKS THERAPEUTICS INC | COM | 5.75% | $5M | 197.7K |
| 6 | BBIOBRIDGEBIO PHARMA INChistory → | COM | 5.71% | $5M | 304.7K |
| 7 | IONSIONIS PHARMACEUTICALS INChistory → | COM | 5.10% | $5M | 126.3K |
| 8 | STOKSTOKE THERAPEUTICS INChistory → | COM | 5.02% | $4M | 532.9K |
| 9 | PROQR THRAPEUTICS N V | SHS EURO | 4.60% | $4M | 1.91M |
| 10 | CURIS INC | COM NEW | 3.02% | $3M | 4.48M |
| 11 | ARWRARROWHEAD PHARMACEUTICALS INhistory → | COM | 1.94% | $2M | 67.4K |
| 12 | ATARA BIOTHERAPEUTICS INC | COM | 1.44% | $1M | 439.3K |
| 13 | SLNSILENCE THERAPEUTICS PLChistory → | ADS | 1.02% | $904,580 | 145.9K |
| 14 | NEXIMMUNE INC | COM | 0.06% | $50,708 | 133.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $54M | 9 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $138M | 9 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $68M | 9 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $59M | 9 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $73M | 11 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $102M | 11 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $91M | 11 | Nov 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $77M | 11 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $135M | 11 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $121M | 10 | Feb 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $87M | 11 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $76M | 12 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $88M | 14 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $105M | 14 | Feb 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $96M | 12 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $89M | 13 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $109M | 13 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $128M | 12 | Feb 11, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.