SEC 13F Intelligence

Managers / Q3 2023 · view latest →

M28 Capital Management LP

CIK 0001807489 · 700 CANAL STREET, 1ST FLOOR, STAMFORD, CT, 06902 · 203-516-3730

Reported Value
$87M
Q3 2023
Positions
11
Filings on Record
18
2019–present window
Filed
Nov 13, 2023
original filing

Summary

M28 Capital Management LP reported $87M in U.S.-listed holdings across 11 positions for Q3 2023.

The portfolio is heavily concentrated: Wave Life Sciences alone accounts for 46.4% of reported value.

Compared with Q2 2023, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+17.2%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+46.4%
Wave Life Sciences
New / Exited
1 / 2
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $128MQ4 ’21Q1 ’22: $109MQ2 ’22: $89MQ3 ’22: $96MQ3 ’22Q4 ’22: $105MQ1 ’23: $88MQ2 ’23: $76MQ2 ’23Q3 ’23: $87MQ4 ’23: $121MQ1 ’24: $135MQ1 ’24Q2 ’24: $77MQ3 ’24: $91MQ4 ’24: $102MQ4 ’24Q1 ’25: $73MQ2 ’25: $59MQ3 ’25: $68MQ3 ’25Q4 ’25: $138MQ1 ’26: $54Mfilingsflow.com

Portfolio Composition

By security type
Other: 49.3%Common Stock: 46.6%ADR: 4.1%
  • Other · 49.3% · $43M
  • Common Stock · 46.6% · $41M
  • ADR · 4.1% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CRISEURCURIS INCNEW+422.0K422.0K+$3M$3M
CURIS INCSOLD OUT−6.00M0−$5M$0
STOKSTOKE THERAPEUTICS INCSOLD OUT−346.2K0−$4M$0
TGTXTG THERAPEUTICS INCADDED+74.1K216.6K−$2M$2M
BBIOBRIDGEBIO PHARMA INCTRIMMED−45.0K121.2K+$337,404$3M
RCKTROCKET PHARMACEUTICALS INCTRIMMED−107.1K523.3K−$2M$11M
WAVE LIFE SCIENCES LTDHELD−5.5K7.04M+$15M$41M
IVVDINVIVYD INCHELD+09.25M+$6M$16M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2023

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1WAVE LIFE SCIENCES LTDSHS46.45%$41M7.04M
2IVVDINVIVYD INChistory →COM18.03%$16M9.25M
3RCKTROCKET PHARMACEUTICALS INChistory →COM12.30%$11M523.3K
4SWTXUSDSPRINGWORKS THERAPEUTICS INChistory →COM5.24%$5M197.7K
5SLNSILENCE THERAPEUTICS PLChistory →ADS4.10%$4M363.8K
6BBIOBRIDGEBIO PHARMA INChistory →COM3.67%$3M121.2K
7CRISEURCURIS INChistory →COM NEW3.19%$3M422.0K
8PROQR THRAPEUTICS N VSHS EURO2.85%$2M1.91M
9ARWRARROWHEAD PHARMACEUTICALS INhistory →COM2.08%$2M67.4K
10TGTXTG THERAPEUTICS INChistory →COM2.08%$2M216.6K
11NEXI1EURNEXIMMUNE INCCOM0.03%$28,009133.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$54M9May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$138M9Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$68M9Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$59M9Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$73M11May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$102M11Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$91M11Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$77M11Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$135M11May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$121M10Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$87M11Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$76M12Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$88M14May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$105M14Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$96M12Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$89M13Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$109M13May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$128M12Feb 11, 202213F-HRchanges · 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 ↗.